Registered number
10492809
Brave Technology Group Ltd
Filleted Accounts
30 November 2023
Brave Technology Group Ltd
Registered number: 10492809
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 7,200 8,400
Tangible assets 4 26,934 30,993
34,134 39,393
Current assets
Debtors 5 42,328 36,215
Cash at bank and in hand 8,475 29,958
50,803 66,173
Creditors: amounts falling due within one year 6 (42,127) (48,522)
Net current assets 8,676 17,651
Total assets less current liabilities 42,810 57,044
Creditors: amounts falling due after more than one year 7 (42,021) (55,887)
Net assets 789 1,157
Capital and reserves
Called up share capital 425 425
Profit and loss account 364 732
Shareholders' funds 789 1,157
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Jane Bray-Nicholls
Director
Approved by the board on 22 August 2024
Brave Technology Group Ltd
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
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).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures & fittings 25% reducing balance
Equipment 33% straight line
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.
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 4 2
3 Intangible fixed assets £
Goodwill:
Cost
At 1 December 2022 12,000
At 30 November 2023 12,000
Amortisation
At 1 December 2022 3,600
Provided during the year 1,200
At 30 November 2023 4,800
Net book value
At 30 November 2023 7,200
At 30 November 2022 8,400
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Fixtures, fittings & equipment
£
Cost
At 1 December 2022 58,376
Additions 2,667
At 30 November 2023 61,043
Depreciation
At 1 December 2022 27,383
Charge for the year 6,726
At 30 November 2023 34,109
Net book value
At 30 November 2023 26,934
At 30 November 2022 30,993
5 Debtors 2023 2022
£ £
Trade debtors 19,500 26,350
Other debtors 22,828 9,865
42,328 36,215
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 5,954 5,954
Trade creditors - 1,124
Taxation and social security costs 36,173 35,724
Other creditors - 5,720
42,127 48,522
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 32,842 38,796
Provisions 9,179 17,091
42,021 55,887
8 Controlling party
The company is controlled by the directors who hold the majority of the issued share capital.
9 Other information
Brave Technology Group Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Elphinstone House
Elphinstone Road
Highcliffe
Christchurch
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