Bravedesign Limited - Accounts to registrar (filleted) - small 23.2.5
Bravedesign Limited - Accounts to registrar (filleted) - small 23.2.5
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 28 February 2023 |
| for |
| Bravedesign Limited |
| Bravedesign Limited (Registered number: 02678552) |
| Contents of the Financial Statements |
| for the Year Ended 28 February 2023 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Chartered Certified Accountants' Report | 8 |
| Bravedesign Limited |
| Company Information |
| for the Year Ended 28 February 2023 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Seymour Chambers |
| 92 London Road |
| Liverpool |
| Merseyside |
| L3 5NW |
| Bravedesign Limited (Registered number: 02678552) |
| Balance Sheet |
| 28 February 2023 |
| 28.2.23 | 28.2.22 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks | 6 |
| Debtors | 7 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Capital redemption reserve |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| Bravedesign Limited (Registered number: 02678552) |
| Balance Sheet - continued |
| 28 February 2023 |
| 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 and authorised for issue on |
| Bravedesign Limited (Registered number: 02678552) |
| Notes to the Financial Statements |
| for the Year Ended 28 February 2023 |
| 1. | STATUTORY INFORMATION |
| Bravedesign Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| The turnover in the profit and loss account represents revenue recognised on goods sold on a cash or credit basis exclusive of value added tax. |
| 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. |
| Tangible fixed assets |
| Freehold property | - |
| Improvements to property | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| Stocks |
| Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. |
| 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. |
| Bravedesign Limited (Registered number: 02678552) |
| Notes to the Financial Statements - continued |
| for the Year Ended 28 February 2023 |
| 2. | ACCOUNTING POLICIES - continued |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Computer |
| software |
| £ |
| COST |
| At 1 March 2022 |
| and 28 February 2023 |
| AMORTISATION |
| At 1 March 2022 |
| Amortisation for year |
| At 28 February 2023 |
| NET BOOK VALUE |
| At 28 February 2023 |
| At 28 February 2022 |
| 5. | TANGIBLE FIXED ASSETS |
| Improvements |
| Freehold | to | Plant and |
| property | property | machinery |
| £ | £ | £ |
| COST |
| At 1 March 2022 |
| Additions |
| Disposals |
| At 28 February 2023 |
| DEPRECIATION |
| At 1 March 2022 |
| Charge for year |
| Eliminated on disposal |
| At 28 February 2023 |
| NET BOOK VALUE |
| At 28 February 2023 |
| At 28 February 2022 |
| Bravedesign Limited (Registered number: 02678552) |
| Notes to the Financial Statements - continued |
| for the Year Ended 28 February 2023 |
| 5. | TANGIBLE FIXED ASSETS - continued |
| Fixtures |
| and | Motor | Computer |
| fittings | vehicles | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 March 2022 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 28 February 2023 |
| DEPRECIATION |
| At 1 March 2022 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 28 February 2023 |
| NET BOOK VALUE |
| At 28 February 2023 |
| At 28 February 2022 |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Plant and | Motor |
| machinery | vehicles | Totals |
| £ | £ | £ |
| COST |
| At 1 March 2022 |
| and 28 February 2023 |
| DEPRECIATION |
| At 1 March 2022 |
| Charge for year |
| At 28 February 2023 |
| NET BOOK VALUE |
| At 28 February 2023 |
| At 28 February 2022 |
| 6. | STOCKS |
| 28.2.23 | 28.2.22 |
| £ | £ |
| Raw materials |
| Work-in-progress |
| Finished goods |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 28.2.23 | 28.2.22 |
| £ | £ |
| Trade debtors |
| Directors' current accounts | 117,889 | 37,800 |
| Prepayments |
| Bravedesign Limited (Registered number: 02678552) |
| Notes to the Financial Statements - continued |
| for the Year Ended 28 February 2023 |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 28.2.23 | 28.2.22 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts |
| Trade creditors |
| Corporation taxation |
| Social security and other taxes |
| VAT | 93,534 | 66,345 |
| Other creditors |
| Accruals and deferred income |
| Accrued expenses |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 28.2.23 | 28.2.22 |
| £ | £ |
| Bank loans - 1-2 years |
| Bank loans - 2-5 years |
| Bank loans more 5 yr by instal |
| Hire purchase contracts |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 71,579 | 95,643 |
| 10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to directors subsisted during the years ended 28 February 2023 and 28 February 2022: |
| 28.2.23 | 28.2.22 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| The loans are unsecured, repayable on demand and 2.5% interest was charged on the average balance of the loan throughout the year. |
| Chartered Certified Accountants' Report to the Board of Directors |
| on the Unaudited Financial Statements of |
| Bravedesign Limited |
| The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Bravedesign Limited for the year ended 28 February 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
| As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook. |
| This report is made solely to the Board of Directors of Bravedesign Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Bravedesign Limited and state those matters that we have agreed to state to the Board of Directors of Bravedesign Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that Bravedesign Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Bravedesign Limited. You consider that Bravedesign Limited is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of Bravedesign Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| Seymour Chambers |
| 92 London Road |
| Liverpool |
| Merseyside |
| L3 5NW |
| Date: ............................................. |