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REGISTERED NUMBER: 02787547 (England and Wales)











Bravejoin Company Limited

Unaudited Financial Statements

for the Year Ended 31 December 2021






Bravejoin Company Limited (Registered number: 02787547)

Contents of the Financial Statements
for the Year Ended 31 December 2021










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Bravejoin Company Limited

Company Information
for the Year Ended 31 December 2021







DIRECTORS: P Archer
B R Archer





REGISTERED OFFICE: Unit 4 Felspar Road
Amington Industrial Estate,
Tamworth
Staffordshire
B77 4DP





REGISTERED NUMBER: 02787547 (England and Wales)





ACCOUNTANTS: Haines Watts Tamworth Limited
Sterling House
97 Lichfield Street
Tamworth
Staffordshire
B79 7QF

Bravejoin Company Limited (Registered number: 02787547)

Balance Sheet
31 December 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 319,282 326,645
319,282 326,645

CURRENT ASSETS
Stocks 174,468 833,500
Debtors 6 871,132 2,313,132
Cash at bank and in hand 1,124,613 820,079
2,170,213 3,966,711
CREDITORS
Amounts falling due within one year 7 881,319 3,077,205
NET CURRENT ASSETS 1,288,894 889,506
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,608,176

1,216,151

CREDITORS
Amounts falling due after more than one
year

8

(133,333

)

(170,000

)

PROVISIONS FOR LIABILITIES (4,804 ) (5,918 )
NET ASSETS 1,470,039 1,040,233

CAPITAL AND RESERVES
Called up share capital 10 89 100
Revaluation reserve 11 137,246 137,834
Capital redemption reserve 27 16
Retained earnings 1,332,677 902,283
SHAREHOLDERS' FUNDS 1,470,039 1,040,233

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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.

Bravejoin Company Limited (Registered number: 02787547)

Balance Sheet - continued
31 December 2021


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 May 2022 and were signed on its behalf by:





P Archer - Director


Bravejoin Company Limited (Registered number: 02787547)

Notes to the Financial Statements
for the Year Ended 31 December 2021


1. STATUTORY INFORMATION

Bravejoin Company 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 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 as modified by the revaluation of certain assets.

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

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
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.

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.
Freehold property - 1% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 25% on cost

Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss under the accrual model.

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

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2020 - 25 ) .

Bravejoin Company Limited (Registered number: 02787547)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2021
and 31 December 2021 (94,345 )
AMORTISATION
At 1 January 2021
and 31 December 2021 (94,345 )
NET BOOK VALUE
At 31 December 2021 -
At 31 December 2020 -

.

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 January 2021
and 31 December 2021 300,000 47,850 347,850
DEPRECIATION
At 1 January 2021 4,500 16,705 21,205
Charge for year 1,500 5,863 7,363
At 31 December 2021 6,000 22,568 28,568
NET BOOK VALUE
At 31 December 2021 294,000 25,282 319,282
At 31 December 2020 295,500 31,145 326,645

Included in cost or valuation of land and buildings is freehold land of £ 150,000 (2020 - £ 150,000 ) which is not depreciated.

Cost or valuation at 31 December 2021 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2017 117,510 - 117,510
Cost 182,490 47,850 230,340
300,000 47,850 347,850

Bravejoin Company Limited (Registered number: 02787547)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021


5. TANGIBLE FIXED ASSETS - continued

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

2021 2020
£    £   
Cost 182,490 182,490
Aggregate depreciation 31,712 30,779

Value of land in freehold land and buildings 91,245 91,245

Freehold land and buildings were valued on an open market basis on 18 April 2017 by Peter J Hicks & Co. Chartered Surveyors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 328,132 1,691,801
Other debtors 543,000 621,331
871,132 2,313,132

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Bank loans and overdrafts 40,000 30,000
Trade creditors 550,622 349,197
Taxation and social security 131,040 278,013
Other creditors 159,657 2,419,995
881,319 3,077,205

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2021 2020
£    £   
Bank loans 133,333 170,000

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 10,000

9. SECURED DEBTS

The following secured debts are included within creditors:

2021 2020
£    £   
Bank loans 173,333 200,000

The bank loans are secured by way of a fixed and floating charge on the assets of the company, both present and future.

Bravejoin Company Limited (Registered number: 02787547)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021


10. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2021 2020
value: £    £   
89 Ordinary £1 89 100

On 29 October 2021 the company repurchased, and subsequently cancelled, 11 Ordinary Shares.

11. RESERVES
Revaluation
reserve
£   
At 1 January 2021 137,834
Depreciation write back (588 )

At 31 December 2021 137,246

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The directors have also provided personal guarantees to secure the company loans.

At the balance sheet date interest-free loans totalling £334,483 (2020 - £415,685) were due to the Company from the Directors. These are repayable on demand.

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is P Archer by virtue of his majority shareholding in the company.