Company registration number 07485168 (England and Wales)
BRAMBLEDENE VISUAL EFFECTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
PAGES FOR FILING WITH REGISTRAR
BRAMBLEDENE VISUAL EFFECTS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
BRAMBLEDENE VISUAL EFFECTS LIMITED
BALANCE SHEET
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
4,815
3,255
Current assets
Debtors
5
83,374
65,133
Investments
6
250,000
Cash at bank and in hand
320,951
461,511
654,325
526,644
Creditors: amounts falling due within one year
7
(95,012)
(63,047)
Net current assets
559,313
463,597
Net assets
564,128
466,852
Capital and reserves
Called up share capital
8
100
100
Profit and loss reserves
564,028
466,752
Total equity
564,128
466,852
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 25 November 2024
A J Bickerton
Director
Company registration number 07485168 (England and Wales)
BRAMBLEDENE VISUAL EFFECTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
- 2 -
1
Accounting policies
Company information
Brambledene Visual Effects Limited is a private company limited by shares incorporated in England and Wales. The registered office is 166 College Road, Harrow, Middlesex, HA1 1RA.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for providing visual effects services provided in the normal course of business, and is shown net of VAT and other sales related taxes. Income is recognised in the period to which it relates.
1.3
Tangible fixed assets
Tangible fixed assets are measured at cost, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computer equipment
33% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ 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 realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.
BRAMBLEDENE VISUAL EFFECTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 3 -
Basic financial liabilities
Basic financial liabilities, including creditors, are 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.
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
1.5
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.6
Taxation
The tax expense represents the sum of the tax currently payable.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
3
Intangible fixed assets
Goodwill
£
Cost
At 1 August 2023 and 31 July 2024
307,065
Amortisation and impairment
At 1 August 2023 and 31 July 2024
307,065
Carrying amount
At 31 July 2024
At 31 July 2023
BRAMBLEDENE VISUAL EFFECTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 4 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 August 2023
13,378
Additions
5,814
At 31 July 2024
19,192
Depreciation and impairment
At 1 August 2023
10,124
Depreciation charged in the year
4,253
At 31 July 2024
14,377
Carrying amount
At 31 July 2024
4,815
At 31 July 2023
3,255
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
10,170
17,522
Other debtors
73,204
47,611
83,374
65,133
6
Current asset investments
2024
2023
£
£
Other investments
250,000
7
Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
75,238
38,068
Other taxation and social security
13,992
19,397
Other creditors
5,782
5,582
95,012
63,047
BRAMBLEDENE VISUAL EFFECTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 5 -
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
9
Related party transactions
Included within other debtors is an amount of £66,869 (2023: £46,395) owed to the company by the director at the balance sheet date.
The maximum amount outstanding during the year was £164,861 (2023: £159,122)
Interest of £1,819 (2023: £1,878) was charged on the overdrawn balance at the HM Revenue & Customs official rate for beneficial loans.
The loan will be repaid in full to the company within nine months of the year-end.