REGISTERED NUMBER: |
Bravejoin Company Limited |
Unaudited Financial Statements |
for the Year Ended 31 December 2021 |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Revaluation reserve | 11 |
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. |
Bravejoin Company Limited (Registered number: 02787547) |
Balance Sheet - continued |
31 December 2021 |
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 |
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 |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Freehold property | - |
Plant and machinery | - |
Fixtures and fittings | - |
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 |
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 | ( |
) |
AMORTISATION |
At 1 January 2021 |
and 31 December 2021 | ( |
) |
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 |
DEPRECIATION |
At 1 January 2021 |
Charge for year |
At 31 December 2021 |
NET BOOK VALUE |
At 31 December 2021 |
At 31 December 2020 |
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 |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans |
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 |
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: | £ | £ |
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 |
Depreciation write back | (588 | ) |
At 31 December 2021 |
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. |