Brand Events Holdings Limited - Accounts to registrar (filleted) - small 18.2

BRAND EVENTS HOLDINGS LIMITED

Audited Financial Statements

for the Year Ended 31 December 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Directors:

C P Hughes

P Soar

Registered office:

No. 4 Vencourt Place

London

W6 9NU

Registered number:

06256849 (England and Wales)

Auditors:

Haines Watts

Chartered Accountants & Statutory Auditor

New Derwent House

69-73 Theobalds Road

London

WC1X 8TA

Bankers:

Barclays Bank Plc

7th Floor

180 Oxford Street

London

W1D 1EA

Solicitors:

Eversheds LLP

115 Colmore Row

London

B3 3AL

Fixed assets

Investments

3

196,064

196,064

Current assets

Debtors

4

1,264,556

3,059,346

Cash at bank

11,563

7,883

1,276,119

3,067,229

Creditors

Amounts falling due within one year

5

6,604,536

6,607,933

Net current liabilities

(5,328,417

)

(3,540,704

)

Total assets less current liabilities

(5,132,353

)

(3,344,640

)

Capital and reserves

Called up share capital

6

1,518

1,518

Retained earnings

7

(5,133,871

)

(3,346,158

)

Shareholders' funds

(5,132,353

)

(3,344,640

)

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 on 30 September 2019 and were signed on its behalf by:

C P Hughes - Director

1.	Statutory information

Brand Events Holdings Limited 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.

Going concern

The financial statements have been prepared on a going concern basis as the directors have the assessed the

trading activities of the group to be cash positive during the next twelve months and beyond. Furthermore, the

directors expect to have the continued financial support of the shareholders who represent £6.5m of the

company's current liabilities at the balance sheet date.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The

Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party

transactions with wholly owned subsidiaries within the group.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less provision for impairment.

Financial instruments

Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a

party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial

recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the

effective interest rate method. A provision is established when there is objective evidence that the company will

not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank

and bank overdrafts which are an integral part of the company's cash management.

Financial liabilities and equity instruments issued by the company are classified in accordance with the

substance of the contractual arrangements entered into and the definitions of a financial liability and an equity

instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company

after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds

received, net of direct issue costs.

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.

3.	Fixed asset investments

Shares in

group

undertakings

£

Cost

At 1 January 2018

and 31 December 2018

196,064

Net book value

At 31 December 2018

196,064

At 31 December 2017

196,064

4.

Debtors: amounts falling due within one year

2018

2017

£

£

Amounts owed by group undertakings

1,263,110

2,801,076

Other debtors

1,446

258,270

1,264,556

3,059,346

5.

Creditors: amounts falling due within one year

2018

2017

£

£

Trade creditors

-

3,600

Amounts owed to group undertakings

101

101

Other creditors

6,604,435

6,604,232

6,604,536

6,607,933

6.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

108,917

Ordinary A

1p

1,089

1,089

42,896

Ordinary B

1p

429

429

1,518

1,518

7.

Reserves

Retained

earnings

£

At 1 January 2018

(3,346,158

)

Deficit for the year

(1,787,713

)

At 31 December 2018

(5,133,871

)

8.	Disclosure under Section 444(5B) of the Companies Act 2006

The Auditors' Report was unqualified.

Gary Staunton (Senior Statutory Auditor)

for and on behalf of Haines Watts

9.	Related party transactions

Included in debtors is £1,263,110 (2017: £2,801,076) owed by related companies. Included in creditors is £101

(2017: £101) owed to related companies.