Brachot Limited - Accounts to registrar (filleted) - small 18.2
Brachot Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Financial Statements for the Year Ended 31 December 2021 |
| for |
| Brachot Limited |
| Brachot Limited (Registered number: 03995883) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2021 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 3 |
| Brachot Limited |
| Company Information |
| for the Year Ended 31 December 2021 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Chartered Certified Accountants |
| Statutory Auditors |
| Meriden House |
| 6 Great Cornbow |
| Halesowen |
| West Midlands |
| B63 3AB |
| Brachot Limited (Registered number: 03995883) |
| Statement of Financial Position |
| 31 December 2021 |
| 2021 | 2020 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Property, plant and equipment | 4 |
| CURRENT ASSETS |
| Inventories | 5 |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 11 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Brachot Limited (Registered number: 03995883) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2021 |
| 1. | STATUTORY INFORMATION |
| Brachot Limited is a |
| On 31 December 2020 the company changed its name from Beltrami UK Limited to Brachot Limited. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £. |
| Significant judgements and estimates |
| Critical accounting judgements and estimation uncertainty |
| Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
| Critical accounting estimates and assumptions |
| The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial period are addressed below: |
| Useful economic lives of tangible assets |
| The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. |
| Impairment of debtors |
| The company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, the ageing of debtors and historical experience. |
| Turnover |
| Turnover represents the total invoice value, excluding value added tax, of sales made during the year. |
| Brachot Limited (Registered number: 03995883) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2021 |
| 2. | ACCOUNTING POLICIES - continued |
| Tangible fixed assets |
| Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by the management. |
| The Company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the Company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred. |
| Depreciation is charged so as to allocate the cost of the assets less their residual value over their estimated useful lives. |
| Depreciation is provided on the following basis: |
| Land and buildings | - | 0 - 5% | on cost |
| Plant and machinery | - | 10-20% | on cost |
| Fixtures, fittings and equipment | - | 25% | on cost |
| Computer and office equipment | - | 33% | on cost |
| Motor vehicles | - | 25% | on cost |
| The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. |
| Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Comprehensive Income. |
| Stocks |
| Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| Brachot Limited (Registered number: 03995883) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2021 |
| 2. | ACCOUNTING POLICIES - continued |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | PROPERTY, PLANT AND EQUIPMENT |
| Fixtures, |
| fittings |
| Land and | Plant and | and |
| buildings | machinery | equipment |
| £ | £ | £ |
| COST |
| At 1 January 2021 |
| Disposals | ( |
) |
| Reclassification/transfer |
| At 31 December 2021 |
| DEPRECIATION |
| At 1 January 2021 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| Reclassification/transfer |
| At 31 December 2021 |
| NET BOOK VALUE |
| At 31 December 2021 |
| At 31 December 2020 |
| Brachot Limited (Registered number: 03995883) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2021 |
| 4. | PROPERTY, PLANT AND EQUIPMENT - continued |
| Motor | Computer |
| vehicles | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 January 2021 |
| Disposals | ( |
) |
| Reclassification/transfer |
| At 31 December 2021 |
| DEPRECIATION |
| At 1 January 2021 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| Reclassification/transfer |
| At 31 December 2021 |
| NET BOOK VALUE |
| At 31 December 2021 |
| At 31 December 2020 |
| 5. | INVENTORIES |
| 2021 | 2020 |
| £ | £ |
| Finished goods |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Deferred tax asset |
| Prepayments and accrued income |
| Amounts owed by group undertakings are unsecured and are repayable on demand. |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Amounts owed to group undertakings |
| Amounts owed to participating interests | 3,359,904 | 216,954 |
| Corporation tax |
| Social security and other taxes |
| Other creditors |
| Accruals and deferred income |
| Brachot Limited (Registered number: 03995883) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2021 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued |
| Amounts owed to group undertakings and participating interests are unsecured and are repayable on demand. |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Bank loans - 2-5 years |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2021 | 2020 |
| £ | £ |
| Bank loans |
| The bank loan is secured by a legal charge dated April 2009 over the property at Saltbrook Trading Estate. |
| The bank loan and overdraft is secured by a fixed and floating charge over the property and assets of the company by way of a debenture dated 30 January 2012. |
| 10. | DEFERRED TAX |
| £ |
| Balance at 1 January 2021 | ( |
) |
| Movement in the year | (4,640 | ) |
| Balance at 31 December 2021 | ( |
) |
| A deferred tax asset has arisen as a result of timing differences on capital allowance claims. |
| 11. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2021 | 2020 |
| value: | £ | £ |
| Ordinary | £10 | 5,000 | 5,000 |
| 12. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| For and on behalf of |
| 13. | ULTIMATE CONTROLLING PARTY |
| The parent company of the group for which consolidated financial statements are prepared is Brachot-Hermant NV. The registered office of this company is E3-laan 86, 9800 Deinze. |
| The ultimate parent undertaking is Stone Gallery NV, a company registered in Belgium. |