Bravesir Limited Accounts
Bravesir Limited Accounts
Bravesir Limited Filleted Accounts Cover |
Company No. 08337217 | |||||||||
Year Ended | |||||||||
Bravesir Limited Balance Sheet Registrar |
at | ||||||||||
Company No. | Notes | 2020 | 2019 | |||||||
£ | £ | |||||||||
Fixed assets | ||||||||||
Tangible assets | 4 | |||||||||
Current assets | ||||||||||
Stocks | 5 | |||||||||
Debtors | 6 | |||||||||
Cash at bank and in hand | ||||||||||
Creditors: Amount falling due within one year | 7 | ( | ( | |||||||
Net current assets/(liabilities) | ( | |||||||||
Total assets less current liabilities | ( | |||||||||
Creditors: Amounts falling due after more than one year | 8 | ( | ( | |||||||
Net liabilities | ( | ( | ||||||||
Capital and reserves | ||||||||||
Called up share capital | 12 | |||||||||
Profit and loss account | 13 | ( | ( | |||||||
Total equity | ( | ( | ||||||||
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 02 August 2021 | ||||||||||
And signed on its behalf by: | ||||||||||
R. Catchpole | ||||||||||
Director | ||||||||||
02 August 2021 |
Bravesir Limited Notes to the Accounts Registrar |
for the year ended 31 December 2020 | ||||||||||||||
1 | General information | |||||||||||||
Its registered number is: 08337217 | ||||||||||||||
Its registered office is: | ||||||||||||||
Going Concern | ||||||||||||||
At the balance sheet date, the company had net liabilities of £47,474 (2019: £48,219). 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. | ||||||||||||||
2 | Accounting policies | |||||||||||||
Turnover | ||||||||||||||
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 | ||||||||||||||
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. | ||||||||||||||
Plant and machinery | ||||||||||||||
Furniture, fittings and equipment | ||||||||||||||
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 | ||||||||||||||
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. | ||||||||||||||
Trade and other debtors | ||||||||||||||
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 | ||||||||||||||
Leased assets | ||||||||||||||
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 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. | ||||||||||||||
Government Grants | ||||||||||||||
Government grants have been recognised using the accrual method. Grants of a revenue nature are recognised in “other income” within profit or loss in the same period as the related expenditure when there is reasonable assurance the grants will be received. | ||||||||||||||
Provisions | ||||||||||||||
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 | |||||||||||||
2020 | 2019 | |||||||||||||
Number | Number | |||||||||||||
The average monthly number of employees (including directors) during the year was: | ||||||||||||||
4 | Tangible fixed assets | |||||||||||||
Plant and machinery | Fixtures, fittings and equipment | Total | ||||||||||||
£ | £ | £ | ||||||||||||
Cost or revaluation | ||||||||||||||
At 1 January 2020 | ||||||||||||||
Additions | ||||||||||||||
At 31 December 2020 | ||||||||||||||
Depreciation | ||||||||||||||
At 1 January 2020 | ||||||||||||||
Charge for the year | ||||||||||||||
At 31 December 2020 | ||||||||||||||
Net book values | ||||||||||||||
At 31 December 2020 | ||||||||||||||
At 31 December 2019 | ||||||||||||||
5 | Stocks | |||||||||||||
2020 | 2019 | |||||||||||||
£ | £ | |||||||||||||
Raw materials and consumables | ||||||||||||||
6 | Debtors | |||||||||||||
2020 | 2019 | |||||||||||||
£ | £ | |||||||||||||
Trade debtors | ||||||||||||||
Loans to directors | ||||||||||||||
Other debtors | ||||||||||||||
Prepayments and accrued income | ||||||||||||||
Amounts included within Other debtors that fall due after more than one year | ||||||||||||||
7 | Creditors: | |||||||||||||
amounts falling due within one year | ||||||||||||||
2020 | 2019 | |||||||||||||
£ | £ | |||||||||||||
Bank loans and overdrafts | ||||||||||||||
Other loans | ||||||||||||||
Trade creditors | ||||||||||||||
Other taxes and social security | ||||||||||||||
Loans from directors | ||||||||||||||
Other creditors | ||||||||||||||
Accruals and deferred income | ||||||||||||||
8 | Creditors: | |||||||||||||
amounts falling due after more than one year | ||||||||||||||
2020 | 2019 | |||||||||||||
£ | £ | |||||||||||||
Bank loans and overdrafts | ||||||||||||||
Other loans | ||||||||||||||
9 | Loans | |||||||||||||
Analysis of the maturity of loans is given below: | ||||||||||||||
2020 | 2019 | |||||||||||||
£ | £ | |||||||||||||
Amounts falling due within 1 year - Bank loan | 2,355 | - | ||||||||||||
Amounts falling due 2-5 years - Bank loan | 39,742 | - | ||||||||||||
Amounts falling due more than 5 years - Bank loan | 7,903 | - | ||||||||||||
50,000 | - | |||||||||||||
10 | Commitment under operating leases | |||||||||||||
As at 31 December 2020, the company had total future minimum commitments under non-cancellable operating leases as set out below: | ||||||||||||||
2020 | 2019 | |||||||||||||
£ | £ | |||||||||||||
Within one year | 50,000 | 50,000 | ||||||||||||
In two to five years | 200,000 | 200,000 | ||||||||||||
Over five years | 100,000 | 150,000 | ||||||||||||
350,000 | 400,000 | |||||||||||||
11 | 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 £927 (2019: £914) in the year. Contributions of £118 (2019: £66) were payable at the balance sheet date. | ||||||||||||||
12 | Share capital | |||||||||||||
2020 | 2019 | |||||||||||||
£ | £ | |||||||||||||
2 ordinary shares of £1 each | 2 | 2 | ||||||||||||
13 | Reserves | |||||||||||||
14 | Related party disclosures | |||||||||||||
At the Balance Sheet date, £688 owed by the director to the company (2019: £10,122 owed by the company to the directors). | ||||||||||||||