Bravesir Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08337217 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2017

for

BRAVESIR LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

R P Catchpole

Mrs L C Catchpole

REGISTERED OFFICE:

The Bluebell Batts Corner

Boundary Road

Dockenfield

Surrey

GU10 4EX

REGISTERED NUMBER:

08337217 (England and Wales)

ACCOUNTANTS:

Gilroy & Brookes Accountants Ltd

Chartered Accountants

Suite 15

The Enterprise Centre

Coxbridge Business Park

Farnham

Surrey

GU10 5EH

FIXED ASSETS

Tangible assets

4

2,606

1,387

CURRENT ASSETS

Stocks

5

10,066

8,085

Debtors

6

27,709

20,389

Cash at bank and in hand

19,708

7,871

57,483

36,345

CREDITORS

Amounts falling due within one year

7

(113,514

)

(115,817

)

NET CURRENT LIABILITIES

(56,031

)

(79,472

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(53,425

)

(78,085

)

CAPITAL AND RESERVES

Called up share capital

8

2

2

Retained earnings

9

(53,427

)

(78,087

)

SHAREHOLDERS' FUNDS

(53,425

)

(78,085

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 2 July 2018 and were signed on its behalf by:

R P Catchpole - Director

1.	STATUTORY INFORMATION

Bravesir Limited 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

33% on cost

Fixtures and fittings

-

20% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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.

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 directors have confirmed that they will continue to give financial support to the company until such time as

its position improves. In addition, the directors have confirmed that they will not recall their loans within 12

months. The directors consider that it is appropriate to prepare the financial statements on a going concern basis.

The financial statements do not include any adjustments that would result if the financial support were

withdrawn.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2016 - 24 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1 January 2017

881

4,000

4,881

Additions

2,940

441

3,381

At 31 December 2017

3,821

4,441

8,262

DEPRECIATION

At 1 January 2017

294

3,200

3,494

Charge for year

1,274

888

2,162

At 31 December 2017

1,568

4,088

5,656

NET BOOK VALUE

At 31 December 2017

2,253

353

2,606

At 31 December 2016

587

800

1,387

5.

STOCKS

31.12.17

31.12.16

£

£

Stocks

10,066

8,085

6.

DEBTORS

31.12.17

31.12.16

£

£

Amounts falling due within one year:

Trade debtors

6,934

-

PAYE/NI

(5,385

)

1,967

Prepayments and accrued income

14,160

6,422

15,709

8,389

Amounts falling due after more than one year:

Deposits

12,000

12,000

Aggregate amounts

27,709

20,389

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

£

Other loans

50,000

52,750

Trade creditors

5,541

1,802

Pension liability

24

-

VAT

12,065

7,295

Credit card

2,268

2,569

Wages control account

-

3,073

Directors' current accounts

42,477

46,627

Accruals and deferred income

1,139

1,701

113,514

115,817

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.17

31.12.16

value:

£

£

2

Ordinary share capital

1

2

2

9.

RESERVES

Retained

earnings

£

At 1 January 2017

(78,087

)

Profit for the year

24,660

At 31 December 2017

(53,427

)

10.	RELATED PARTY DISCLOSURES

No related party transactions as required to be reported under FRS 102 have taken place during the year.

11.	ULTIMATE CONTROLLING PARTY

The Company is under the control of Mr. Robin Catchpole and Mrs. Lucy Catchpole who are equal shareholders

and directors of the company.