| Bramble Hub Limited |
|
| Chartered Accountants' report to the board of directors on the preparation of the unaudited abbreviated accounts of Bramble Hub Limited for the year ended 31 July 2015 |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abbreviated accounts of Bramble Hub Limited for the year ended 31 July 2015 which comprise of the 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 Institute of Chartered Accountants in Ireland, we are subject to its ethical and other professional requirements. |
| This report is made solely to the Board of Directors of Bramble Hub Limited, as a body, in accordance with the terms of our engagement letter dated 1 March 2015. Our work has been undertaken solely to prepare for your approval the accounts of Bramble Hub Limited and state those matters that we have agreed to state to the Board of Directors of Bramble Hub Limited, as a body, in this report in accordance with AAF 2/10. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Bramble Hub Limited and its Board of Directors as a body for our work or for this report. |
| It is your duty to ensure that Bramble Hub Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Bramble Hub Limited. You consider that Bramble Hub 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 accounts of Bramble Hub 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 abbreviated accounts. |
|
| Carbon Accountancy Limited |
| T/a Roland Klepzig Carbon Accountancy |
| Chartered Accountants |
| 80-83 Long Lane |
| London |
| EC1A 9ET |
|
| 28 April 2016 |
|
| Bramble Hub Limited |
| Registered number: |
04136381 |
| Abbreviated Balance Sheet |
| as at 31 July 2015 |
|
| Notes |
|
|
2015 |
|
|
2014 |
| £ |
£ |
| Fixed assets |
| Intangible assets |
2 |
|
|
- |
|
|
27,856 |
| Tangible assets |
3 |
|
|
12,387 |
|
|
15,852 |
|
|
|
|
12,387 |
|
|
43,708 |
|
| Current assets |
| Debtors |
|
|
3,281,311 |
|
|
2,568,124 |
| Cash at bank and in hand |
|
|
120,059 |
|
|
231,119 |
|
|
|
3,401,370 |
|
|
2,799,243 |
|
| Creditors: amounts falling due within one year |
|
|
(3,252,237) |
|
|
(2,688,183) |
|
| Net current assets |
|
|
|
149,133 |
|
|
111,060 |
|
| Total assets less current liabilities |
|
|
|
161,520 |
|
|
154,768 |
|
|
| Provisions for liabilities |
|
|
|
(1,533) |
|
|
(2,026) |
|
|
| Net assets |
|
|
|
159,987 |
|
|
152,742 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
4 |
|
|
1,020 |
|
|
1,020 |
| Share premium |
|
|
|
20,054 |
|
|
20,054 |
| Capital redemption reserve |
|
|
|
8 |
|
|
8 |
| Profit and loss account |
|
|
|
138,905 |
|
|
131,660 |
|
| Shareholders' funds |
|
|
|
159,987 |
|
|
152,742 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| Members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| 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. |
| The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
|
|
|
| R Archer |
| Director |
| Approved by the board on 28 April 2016 |
|
| Bramble Hub Limited |
| Notes to the Abbreviated Accounts |
| for the year ended 31 July 2015 |
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). |
|
|
Turnover |
|
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers. |
|
|
Intangible fixed assets |
|
Expenditure incurred on projects to develop new products is capitalised only when the company can demonstrate the technical feasibility of completing the intangible asset so that it will be available for use or sale, its intention to complete and its ability to use or sell the asset, how the asset will generate future economic benefits, the availability of resources to complete the project and the ability to measure reliably the expenditure during the development. |
|
Product development costs, considered to have finite useful lives, are stated at cost less any impairment losses and are amortised using the straight-line basis over the commercial lives of the underlying products not exceeding 10 years. Impairment is assessed whenever there is an indication of impairment and the amortisation period and method are also reviewed at least at each balance sheet date. |
|
|
Depreciation |
|
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. |
|
|
Fixtures and fittings |
6.67% straight line |
|
Computer equipment |
25% straight line |
|
|
The company's change in the period of the basis of depreciating tangible fixed assets from reducing balance to straight line was deemed more reflective of the economic consumption of assets. |
|
|
Deferred taxation |
|
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse. |
|
|
Foreign currencies |
|
Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account. |
|
|
Pensions |
|
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme. |
|
|
| 2 |
Intangible fixed assets |
£ |
|
|
Cost |
|
At 1 August 2014 |
39,796 |
|
Disposals |
(39,796) |
|
At 31 July 2015 |
- |
|
|
|
|
|
|
|
|
Amortisation |
|
At 1 August 2014 |
11,940 |
|
On disposals |
(11,940) |
|
At 31 July 2015 |
- |
|
|
|
|
|
|
|
|
Net book value |
|
At 31 July 2015 |
- |
|
At 31 July 2014 |
27,856 |
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
£ |
|
|
Cost |
|
At 1 August 2014 |
48,350 |
|
Additions |
4,447 |
|
At 31 July 2015 |
52,797 |
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 August 2014 |
32,498 |
|
Charge for the year |
7,912 |
|
At 31 July 2015 |
40,410 |
|
|
|
|
|
|
|
|
Net book value |
|
At 31 July 2015 |
12,387 |
|
At 31 July 2014 |
15,852 |
|
|
|
|
|
|
|
|
| 4 |
Share capital |
Nominal |
|
2015 |
|
2015 |
|
2014 |
| value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary 'A' shares |
10p |
|
8,440 |
|
844 |
|
844 |
|
Ordinary 'B' shares |
10p |
|
100 |
|
10 |
|
10 |
|
Ordinary 'C' shares |
10p |
|
100 |
|
10 |
|
10 |
|
Ordinary 'D' shares |
10p |
|
520 |
|
52 |
|
52 |
|
Ordinary 'E' shares |
10p |
|
520 |
|
52 |
|
52 |
|
Ordinary 'F' shares |
10p |
|
520 |
|
52 |
|
52 |
|
|
|
|
|
|
1,020 |
|
1,020 |
|
|
|
|
|
|
|
|
|
|
All shares have a right to receive a dividend at the discretion of the directors, have equal voting rights, and equal rights to a distribution in the event of a winding up of the company. |
|
|
| 5 |
Parent undertaking |
|
|
The company was a wholly owned subsidiary of Bramble Effect Limited, a company incorporated in the United Kingdom. |
