Bravocompany Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07710599 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 JULY 2019 TO 31 JANUARY 2020

FOR

BRAVOCOMPANY LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

A Alvarez Del Rio

D Blomquist

F D W Stronk

B J B Holmes

M Servante

REGISTERED OFFICE:

30 City Road

London

United Kingdom

EC1Y 2AB

REGISTERED NUMBER:

07710599 (England and Wales)

ACCOUNTANTS:

Horizon Accounts Ltd

Stapleton House Second Floor

110 Clifton Street

London

EC2A 4HT

FIXED ASSETS

Intangible assets

5

3,108

3,293

Tangible assets

6

41,293

48,898

Investments

7

63,698

68,500

108,099

120,691

CURRENT ASSETS

Debtors

8

362,960

827,112

Cash at bank

495,676

1,567,602

858,636

2,394,714

CREDITORS

Amounts falling due within one year

9

110,862

104,372

NET CURRENT ASSETS

747,774

2,290,342

TOTAL ASSETS LESS CURRENT LIABILITIES

855,873

2,411,033

CAPITAL AND RESERVES

Called up share capital

10

2,289

2,289

Share premium

8,787,673

8,787,673

Capital redemption reserve

287

287

Retained earnings

(7,934,376

)

(6,379,216

)

855,873

2,411,033

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 January 2020.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 January 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 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 24 March 2020 and were signed on its behalf by:

F D W Stronk - Director

1.	STATUTORY INFORMATION

Bravocompany 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Preparation of consolidated financial statements

The financial statements contain information about Bravocompany Ltd as an individual company and do not contain

consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the

Companies Act 2006 from the requirements to prepare consolidated financial statements.

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.

Significant judgements and estimates

There are no significant judgements or estimates applied to the numbers contained within these financial statements.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less

any accumulated amortisation and any accumulated impairment losses.

Intellectual property are being amortised evenly over their estimated useful life of seventeen years.

Tangible fixed assets

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.

Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost,

less estimated residual value, of each asset evenly over its expected useful life, as follows:

Computer equipment

-

3 years

Office equipment

-

4 & 5 years

Fixtures and fittings

-

3 years

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Financial instruments

The Company has chosen to adopt the Sections 11 and 12 of FRS 102 in respect of financial instruments.

(i) Financial assets

Basic financial assets, including trade and other debtors, cash and bank balances and investments in commercial

paper, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where

the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such

assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of

impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present

value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is

recognised in the Income Statement.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the

impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying

amount would have been had the impairment not previously been recognised. The impairment reversal is recognised

in the Income Statement.

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint

ventures, are initially measured at fair value, which is normally the transaction price.

Such assets are subsequently carried at fair value and the changes in fair value are recognised in, the Income

Statement, except that investments in equity instruments that are not publicly traded and whose fair values cannot be

measured reliably are measured at cost less impairment.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or settled, or

(b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control

of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an

unrelated third party without imposing additional restrictions.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors, loans from fellow Group companies that are classified

as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where

the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of

business from suppliers. Creditors are classified as current liabilities if payment is due within one year. If not, they

are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently

measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is

discharged, cancelled or expires.

Taxation

Taxation for the period comprises current 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 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.

Research and development

Revenue expenditure on research and development is written off in the year in which it is incurred.

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.

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.

Going concern

The financial statements have been prepared on a going concern basis. The company incurred losses during the

period. The director believes there are sufficient funds available to support the company so that it may meet its

obligations, if and when, they become due. The director is therefore of the opinion that he should continue to adopt

the going concern basis of accounting in preparing the financial statements.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and demand deposits and other short-term highly liquid

investments that are readily convertible to a known amount of cash and are subject to an insignificant risk to changes

in value.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 21 (2019 - 20 ) .

5.	INTANGIBLE FIXED ASSETS

Intellectual

property

£

COST

At 1 July 2019

and 31 January 2020

5,348

AMORTISATION

At 1 July 2019

2,055

Amortisation for period

185

At 31 January 2020

2,240

NET BOOK VALUE

At 31 January 2020

3,108

At 30 June 2019

3,293

6.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 July 2019

2,928

14,134

81,241

98,303

Additions

-

-

5,206

5,206

Disposals

-

(601

)

(25,043

)

(25,644

)

At 31 January 2020

2,928

13,533

61,404

77,865

DEPRECIATION

At 1 July 2019

769

5,512

43,124

49,405

Charge for period

573

2,439

9,799

12,811

Eliminated on disposal

-

(601

)

(25,043

)

(25,644

)

At 31 January 2020

1,342

7,350

27,880

36,572

NET BOOK VALUE

At 31 January 2020

1,586

6,183

33,524

41,293

At 30 June 2019

2,159

8,622

38,117

48,898

7.	FIXED ASSET INVESTMENTS

Shares in

group

undertaking

£

COST OR VALUATION

At 1 July 2019

68,500

Revaluations

(4,802

)

At 31 January 2020

63,698

NET BOOK VALUE

At 31 January 2020

63,698

At 30 June 2019

68,500

Cost or valuation at 31 January 2020 is represented by:

Shares in

group

undertaking

£

Valuation in 2020

(4,802

)

Cost

68,500

63,698

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.20

30.6.19

as restated

£

£

Amounts owed by group undertakings

4,502

32,252

Other debtors

358,458

794,860

362,960

827,112

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.20

30.6.19

as restated

£

£

Bank loans and overdrafts

17,012

12,968

Trade creditors

39,186

23,882

Taxation and social security

-

44,323

Other creditors

54,664

23,199

110,862

104,372

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.19

30.6.18

value:

£

£

69,576,202

Ordinary

£0.00001

696

696

88,501,574

Series A

£0.00001

885

885

32,115,958

Seed Preferred 1

£0.00001

321

321

38,733,706

Seed Preferred 2

£0.00001

387

387

--------------

------------

2,289

2,289

========

========

Ordinary shareholders and Series A shareholders have voting rights and entitlement to dividends. On distribution of

assets, they are entitled to the surplus assets following distributions to Seed Preferred 1 and Seed Preferred 2

shareholders.

Seed Preferred 1 and 2 shareholders have voting rights, entitled to a fixed cumulative cash preferential dividends at

6%, if declared by the board and has preference over Ordinary and Series A shareholders on distribution of assets on

liquidation or a return of capital.

11.	RELATED PARTY DISCLOSURES

During the period, the directors paid expenses totalling £5,049 on behalf of the company. At the date of the financial,

the company owed £5,049 (2019: £nil) to the directors. The amount outstanding carries no interest and is repayable

on demand.

12.	ULTIMATE CONTROLLING PARTY

During the year there is no ultimate controlling party.