2023-01-012023-12-312023-12-31false12891541ONLY THE BRAVE GROUP 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ONLY THE BRAVE GROUP LIMITED

Registered Number
12891541
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

ONLY THE BRAVE GROUP LIMITED
Company Information
for the year from 1 January 2023 to 31 December 2023

Director

Dr Janet Steele

Registered Address

74 Bradmore Park Road
London
W6 0DT

Registered Number

12891541 (England and Wales)
ONLY THE BRAVE GROUP LIMITED
Statement of Financial Position
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets48,69114,530
8,69114,530
Current assets
Debtors502,491354,954
Cash at bank and on hand176,651237,990
679,142592,944
Creditors amounts falling due within one year6(530,606)(495,155)
Net current assets (liabilities)148,53697,789
Total assets less current liabilities157,227112,319
Net assets157,227112,319
Capital and reserves
Called up share capital11
Profit and loss account157,226112,318
Shareholders' funds157,227112,319
The financial statements were approved and authorised for issue by the Director on 14 February 2024, and are signed on its behalf by:
Dr Janet Steele
Director
Registered Company No. 12891541
ONLY THE BRAVE GROUP LIMITED
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company, limited by shares, incorporated in England & Wales, the registered number is 12891541. The registered office is 74 Bradmore Park Road, London, England, W6 0DT.
Statement of compliance
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of value added taxes. Turnover is measured by reviewing the actual services performed against the total services to be provided and is only recognised if it can be estimated reliably.
Revenue from rendering of services
Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Defined contribution pension plan
The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
The taxation expense represents the sum of the tax currently payable and deferred tax. Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively. Current tax The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. Deferred tax Deferred tax has not been recognised as it is not material to the financial statements. The directors will review this annually.
Tangible fixed assets and depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Straight line (years)
Office Equipment2
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Financial instruments
Debtors and creditors which are due within one year are recorded at transaction price, less any impairment.
2.Staff Costs
Aggregate payroll costs incurred during the year were: 2023 2022 £ £ Wages and salaries 605,939 187,022 Social security costs 68,400 17,051 Pension costs 6,663 2,208 _________ _________ 681,002 206,281 _________ _________
3.Average number of employees

20232022
Average number of employees during the year64
4.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 January 2318,86518,865
Additions5,4935,493
Disposals(716)(716)
At 31 December 2323,64223,642
Depreciation and impairment
At 01 January 234,3354,335
Charge for year10,70610,706
On disposals(90)(90)
At 31 December 2314,95114,951
Net book value
At 31 December 238,6918,691
At 31 December 2214,53014,530
5.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables435,577340,826
Other debtors6,5064,797
Prepayments and accrued income60,4089,331
Total502,491354,954
6.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables164,30328,952
Taxation and social security109,092110,291
Other creditors254,000256,318
Accrued liabilities and deferred income3,21199,594
Total530,606495,155