Acorah Software Products - Accounts Production 15.0.600 false true true false 24 November 2022 31 December 2023 31 December 2023 14504471 Mr D Fromm Mr A Posthunus Mr G Smith iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 14504471 2022-11-23 14504471 2023-12-31 14504471 2022-11-24 2023-12-31 14504471 frs-core:CurrentFinancialInstruments 2023-12-31 14504471 frs-core:ComputerEquipment 2022-11-24 2023-12-31 14504471 frs-core:PlantMachinery 2023-12-31 14504471 frs-core:PlantMachinery 2022-11-24 2023-12-31 14504471 frs-core:PlantMachinery 2022-11-23 14504471 frs-core:ShareCapital 2023-12-31 14504471 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 14504471 frs-bus:PrivateLimitedCompanyLtd 2022-11-24 2023-12-31 14504471 frs-bus:FilletedAccounts 2022-11-24 2023-12-31 14504471 frs-bus:SmallEntities 2022-11-24 2023-12-31 14504471 frs-bus:AuditExempt-NoAccountantsReport 2022-11-24 2023-12-31 14504471 frs-bus:SmallCompaniesRegimeForAccounts 2022-11-24 2023-12-31 14504471 frs-bus:Director1 2022-11-24 2023-12-31 14504471 frs-bus:Director2 2022-11-24 2023-12-31 14504471 frs-bus:Director3 2022-11-24 2023-12-31 14504471 frs-countries:EnglandWales 2022-11-24 2023-12-31
Registered number: 14504471
Brave Pet Care Limited
Unaudited Financial Statements
For the Period 24 November 2022 to 31 December 2023
Elco Accounting Limited
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 14504471
31 December 2023
Notes £ £
FIXED ASSETS
Tangible Assets 3 499
499
CURRENT ASSETS
Stocks 4 203,798
Debtors 5 422,407
Cash at bank and in hand 4,498
630,703
Creditors: Amounts Falling Due Within One Year 6 (929,313 )
NET CURRENT ASSETS (LIABILITIES) (298,610 )
TOTAL ASSETS LESS CURRENT LIABILITIES (298,111 )
NET LIABILITIES (298,111 )
CAPITAL AND RESERVES
Called up share capital 7 1
Profit and Loss Account (298,112 )
SHAREHOLDERS' FUNDS (298,111)
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Page 2
For the period ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr G Smith
Director
21/08/2024
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. Accounting Policies
1.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
1.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.  The company has the continued support of the group.
1.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover 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.
1.4. 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:
Computer Equipment 50% on cost
1.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
1.6. Financial Instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realised the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised costs using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Impairment of financial assets
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.
Derecognition of financial assets
...CONTINUED
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1.6. Financial Instruments - continued
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.
1.7. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
1.8. Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 3
3
3. Tangible Assets
Plant & Machinery etc.
£
Cost
As at 24 November 2022 998
As at 31 December 2023 998
Depreciation
As at 24 November 2022 -
Provided during the period 499
As at 31 December 2023 499
Net Book Value
As at 31 December 2023 499
As at 24 November 2022 998
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4. Stocks
31 December 2023
£
Stock - materials and work in progress 203,798
5. Debtors
31 December 2023
£
Due within one year
Trade debtors 421,616
Other debtors 791
422,407
6. Creditors: Amounts Falling Due Within One Year
31 December 2023
£
Trade creditors 12,943
Amounts owed to participating interests 824,859
Other creditors 2,000
Taxation and social security 89,511
929,313
7. Share Capital
31 December 2023
£
Allotted, Called up and fully paid 1
8. Related Party Transactions
Brave Pet Care Limited is a 100% owned subsidiary of Brave Pet Care Holding B.V. (Netherlands).  As at the year end, the amount owed to the group by the company was £824,859.
9. General Information
Brave Pet Care Limited is a private company, limited by shares, incorporated in England & Wales, registered number 14504471 . The registered office is 24 Church Street, Rickmansworth, Hertfordshire, WD3 1DD.
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