Bravesir Limited Accounts






Bravesir Limited

	Company No. 08337217
		Information for Filing with The Registrar
			Year Ended
		31 December 2019

at	31 December 2019
Company No.		08337217	Notes	2019	2018
				£	£
Fixed assets

	Tangible assets		4	3,354	4,191


				3,354	4,191
Current assets
	Stocks		5	13,868	13,239
	Debtors		6	27,375	26,980

	Cash at bank and in hand			13,207	19,496
				54,450	59,715
Creditors: Amount falling due within one year			7	(62,973)	(70,154)
Net current liabilities				(8,523)	(10,439)
Total assets less current liabilities				(5,169)	(6,248)
Creditors: Amounts falling due after more than one year			8	(43,050)	(47,000)



Net liabilities				(48,219)	(53,248)

Capital and reserves
	Called up share capital		11	2	2



	Profit and loss account		12	(48,221)	(53,250)

Total equity				(48,219)	(53,248)



These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.

For the year ended 31 December 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.



As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.

Approved by the board on 27 November 2020
And signed on its behalf by:
R. Catchpole
Director
27 November 2020

for the year ended 31 December 2019

General information

Its registered number is: 08337217

Its registered office is:

The Bluebell Batts Corner

Boundary Road

Dockenfield

Surrey

GU10 4EX

The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.

The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland (March 2018) and the Companies Act 2006.

Going Concern

At the balance sheet date, the company had net liabilities of £48,219 (2018: £53,248). The ability of the company to continue trading is dependent on the continued support of the directors and the company’s creditors.
The directors are of the opinion that the company will continue to receive this support and on this basis considers it appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustments that would result from the withdrawal of support by the directors and the creditors of the company.

Accounting policies

Turnover

Turnover comprises of Revenue recognised by the company in respect of goods and services provided
during the year exclusive of value added tax. Revenue is recognised in the month in which the service is provided. Revenue from the sale of goods is recognised when goods are delivered and legal title is
passed.

Tangible fixed assets and depreciation

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.

Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:

Plant and machinery

33.33% Straight line

Furniture, fittings and equipment

20% Straight line

Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.
Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of inventories recognised as an expense in the period in which the reversal occurs.

Work in progress is reflected in the accounts on a contract by contract basis by recording revenue and related costs as contract activity progresses.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.

Cash & cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty or notice of not more than 24 hours.

Trade and other creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Leased assets

Leases which do not transfer substantially all the risks and rewards of ownership to the Company are
classified as operating leases.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term.

Defined contribution pensions

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations.

The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Provisions

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.

3	Employees
			2019			2018
			Number			Number
		The average monthly number of employees (including directors) during the year was:	30	31	37	36

4	Tangible fixed assets
			Plant and machinery	Fixtures, fittings and equipment	Total
			£	£	£
		Cost or revaluation
		At 1 January 2019	4,045	7,938	11,983
		Additions	824	570	1,394



		At 31 December 2019	4,869	8,508	13,377
		Depreciation
		At 1 January 2019	2,916	4,876	7,792
		Charge for the year	1,329	902	2,231



		At 31 December 2019	4,245	5,778	10,023
		Net book values
		At 31 December 2019	624	2,730	3,354
		At 31 December 2018	1,129	3,062	4,191

5	Stocks
			2019	2018
			£	£
		Raw materials and consumables	13,868	13,239


			13,868	13,239

6	Debtors
			2019	2018
			£	£
		Trade debtors	9,867	1,743





		Other debtors	15,503	16,104
		Prepayments and accrued income	2,005	9,133
			27,375	26,980

		Amounts included within Other debtors that fall due after more than one year	12,000	12,000

7	Creditors:
		amounts falling due within one year
			2019	2018
			£	£

		Bank loans and overdrafts	2,517	1,557


		Trade creditors	26,991	9,974


		Other taxes and social security	22,971	23,429
		Loans from directors	10,122	34,083
		Other creditors	66	86
		Accruals and deferred income	306	1,025
			62,973	70,154

8	Creditors:
		amounts falling due after more than one year
			2019	2018
			£	£


		Other loans	43,050	47,000





			43,050	47,000

		Liabilities repayable in more than five years after the balance sheet date

		Amount repayable otherwise than by instalments	43,050	47,000
			43,050	47,000

9	Commitment under operating leases
		As at 31 December 2019, the company had total future minimum commitments under non-cancellable operating leases as set out below:
			2019	2018
			£	£
		Within one year	50,000	48,000
		In two to five years	200,000	192,000
		Over five years	150,000	192,000
			400,000	432,000

Pensions

The company operates a defined contribution pension scheme. The assets of the scheme are held
separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund & amounted to £914 (2018: £841) in the year. Contributions of £66 (2018: £86) were payable at the balance sheet date.

11	Share capital
			2019	2018
			£	£
		2 ordinary shares of £1 each	2	2
			2	2

Reserves

Profit and loss account - includes all current and prior period retained profits and losses.

Related party disclosures

At the Balance Sheet date the company owed £10,122 (2018: £34,083) to the directors.