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REGISTERED NUMBER: 07743662 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

FOR

BRAVO PRINT LTD

BRAVO PRINT LTD (REGISTERED NUMBER: 07743662)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


BRAVO PRINT LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2022







DIRECTORS: R Burnett
J A Burnett



REGISTERED OFFICE: Raeburn Road South
Ipswich
Suffolk
IP3 0ET



REGISTERED NUMBER: 07743662 (England and Wales)



ACCOUNTANTS: Ballams
Chartered Accountants
Crane Court
302 London Road
Ipswich
Suffolk
IP2 0AJ



BANKERS: Lloyds Bank Plc
13 Cornhill
Ipswich
Suffolk
IP1 1DG

BRAVO PRINT LTD (REGISTERED NUMBER: 07743662)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 12,000 19,000
Tangible assets 5 1,013,626 23,954
1,025,626 42,954

CURRENT ASSETS
Stocks 8,500 8,500
Debtors 6 551,596 275,005
Cash at bank and in hand 279,884 500,887
839,980 784,392
CREDITORS
Amounts falling due within one year 7 703,642 264,924
NET CURRENT ASSETS 136,338 519,468
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,161,964

562,422

CREDITORS
Amounts falling due after more than one
year

8

(993,612

)

(195,726

)

PROVISIONS FOR LIABILITIES (41,136 ) -
NET ASSETS 127,216 366,696

BRAVO PRINT LTD (REGISTERED NUMBER: 07743662)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 2022

2022 2021
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 10 1,000 1,000
Retained earnings 126,216 365,696
SHAREHOLDERS' FUNDS 127,216 366,696

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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 applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 August 2022 and were signed on its behalf by:





R Burnett - Director


BRAVO PRINT LTD (REGISTERED NUMBER: 07743662)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

1. STATUTORY INFORMATION

Bravo Print Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of ten years.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

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.

BRAVO PRINT LTD (REGISTERED NUMBER: 07743662)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable and loans with related parties.

Debt instruments that are payable or receivable within one year, such as trade payables or receivables, are measured at the undiscounted amount of the cash or other consideration expected to be paid or received. Debt instruments that are repayable or receivable after one year are initially measured at the present value of the future cash flows and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each financial year for evidence of impairment. If objective evidence of impairment is found an impairment loss is recognised in the Income Statement.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

BRAVO PRINT LTD (REGISTERED NUMBER: 07743662)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022

2. ACCOUNTING POLICIES - continued

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.

Government grants
Grants are accounted for using the accrual model.

Grants relating to revenue are recognised in the Statement of Income and Retained Earnings in the same period as the related costs for which the grant is intended to compensate. Where there are no related costs the grant is recognised in the period in which it becomes receivable.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2021 - 32 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2021
and 31 March 2022 70,000
AMORTISATION
At 1 April 2021 51,000
Amortisation for year 7,000
At 31 March 2022 58,000
NET BOOK VALUE
At 31 March 2022 12,000
At 31 March 2021 19,000

BRAVO PRINT LTD (REGISTERED NUMBER: 07743662)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2021 13,350 3,525 25,788 21,256 63,919
Additions 1,000,000 1,208 11,925 - 1,013,133
Disposals - (294 ) (20,258 ) (3,400 ) (23,952 )
At 31 March 2022 1,013,350 4,439 17,455 17,856 1,053,100
DEPRECIATION
At 1 April 2021 10,244 2,056 13,214 14,451 39,965
Charge for year 466 221 2,301 5,111 8,099
Eliminated on disposal - (226 ) (4,964 ) (3,400 ) (8,590 )
At 31 March 2022 10,710 2,051 10,551 16,162 39,474
NET BOOK VALUE
At 31 March 2022 1,002,640 2,388 6,904 1,694 1,013,626
At 31 March 2021 3,106 1,469 12,574 6,805 23,954

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
Additions 1,000,000
At 31 March 2022 1,000,000
NET BOOK VALUE
At 31 March 2022 1,000,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 307,057 242,757
Other debtors 244,539 32,248
551,596 275,005

BRAVO PRINT LTD (REGISTERED NUMBER: 07743662)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 44,000 24,274
Hire purchase contracts 156,721 -
Trade creditors 273,605 199,125
Amounts owed to group undertakings 200,000 -
Taxation and social security 16,878 30,003
Other creditors 12,438 11,522
703,642 264,924

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2022 2021
£    £   
Bank loans 150,333 195,726
Hire purchase contracts 843,279 -
993,612 195,726

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 19,401

9. SECURED DEBTS

The following secured debts are included within creditors:

2022 2021
£    £   
Hire purchase contracts 1,000,000 -

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
1,000 Ordinary £1 1,000 1,000