Brogue Element Ltd - Limited company accounts 18.2

REGISTERED NUMBER: 08528319 (England and Wales)

REPORT OF THE DIRECTOR AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2019

FOR

BROGUE ELEMENT LTD

Page

Company Information

1

Report of the Director

2

Statement of Income and Retained Earnings

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTOR:

Mr C A Lowe

REGISTERED OFFICE:

1st Floor

Puerorum House

26 Great Queen Street

London

WC2B 5BL

REGISTERED NUMBER:

08528319 (England and Wales)

ACCOUNTANTS:

LEES

Chartered Certified Accountants

Puerorum House

1st Floor

26 Great Queen Street

London

WC2B 5BL

The director presents his report with the financial statements of the company for the year ended 31 May 2019.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of provision of design consultancy in the film and

television industry.

DIRECTOR

Mr C A Lowe held office during the whole of the period from 1 June 2018 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small

companies.

ON BEHALF OF THE BOARD:

Mr C A Lowe - Director

26 June 2019

TURNOVER

197,467

135,440

Administrative expenses

63,614

64,583

OPERATING PROFIT

4

133,853

70,857

Interest receivable and similar income

-

1

PROFIT BEFORE TAXATION

133,853

70,858

Tax on profit

25,455

13,144

PROFIT FOR THE FINANCIAL YEAR

108,398

57,714

Retained earnings at beginning of year

30,706

67,992

Dividends

(108,000

)

(95,000

)

RETAINED EARNINGS AT END OF YEAR

31,104

30,706

FIXED ASSETS

Tangible assets

5

1,741

1,767

CURRENT ASSETS

Debtors

6

9,463

12,780

Cash at bank

71,797

49,916

81,260

62,696

CREDITORS

Amounts falling due within one year

7

51,797

33,657

NET CURRENT ASSETS

29,463

29,039

TOTAL ASSETS LESS CURRENT LIABILITIES

31,204

30,806

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

31,104

30,706

SHAREHOLDERS' FUNDS

31,204

30,806

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 26 June 2019 and were signed by:

Mr C A Lowe - Director

1.	STATUTORY INFORMATION

Brogue Element Ltd is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents the fair value of services provided during the year. Turnover is recognised as contract activity

progresses and the right to consideration is earned. Fair value reflects the amount expected to be recoverable from

clients. Turnover excludes value added tax. Unbilled turnover on individual contracts is included as accrued income

within other debtors.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average monthly number of employees, including directors, during the year was 1 (2018 - 1).

4.	OPERATING PROFIT

The operating profit is stated after charging:

2019

2018

£

£

Depreciation - owned assets

1,292

883

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 June 2018

3,399

Additions

1,266

At 31 May 2019

4,665

DEPRECIATION

At 1 June 2018

1,632

Charge for year

1,292

At 31 May 2019

2,924

NET BOOK VALUE

At 31 May 2019

1,741

At 31 May 2018

1,767

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

9,463

12,780

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

891

345

Taxation and social security

39,978

23,488

Other creditors

10,928

9,824

51,797

33,657

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

100

Ordinary

£1

100

100