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Logo On Report
Registered Number: 10139743
England and Wales

 

 

 

BRAINTRUST PRODUCTIONS LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 May 2023

End date: 30 April 2024
Director Samuel Bank
Registered Number 10139743
Registered Office Belgrave House
39-43 Monument Hill
Weybridge
Surrey
KT13 8RN
Accountants Ward Williams Creatives Limited
Belgrave House
39-43 Monument Hill
Weybridge
Surrey
KT13 8RN
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 554    401 
554    401 
Current assets      
Debtors 4 56,473    78,558 
Cash at bank and in hand 200,500    145,191 
256,973    223,749 
Creditors: amount falling due within one year 5 (679,034)   (471,669)
Net current assets (422,061)   (247,920)
 
Total assets less current liabilities (421,507)   (247,519)
Provisions for liabilities 6 (105)  
Net assets (421,612)   (247,519)
 

Capital and reserves
     
Called up share capital 1    1 
Reserves 7 792,067    715,506 
Profit and loss account (1,213,680)   (963,026)
Shareholders' funds (421,612)   (247,519)
 


For the year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 28 November 2024 and were signed by:


-------------------------------
Samuel Bank
Director
2
General Information
Braintrust Productions Limited is a private company, limited by shares, registered in England and Wales, registration number 10139743, registration address Belgrave House, 39-43 Monument Hill, Weybridge, Surrey, KT13 8RN.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 20% Straight Line
Computer Equipment 20% Straight Line
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
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.
2.

Average number of employees

Average number of employees during the year was 2 (2023 : 2).
3.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Computer Equipment   Total
  £   £   £
At 01 May 2023 610    5,552    6,162 
Additions   345    345 
Disposals    
At 30 April 2024 610    5,897    6,507 
Depreciation
At 01 May 2023 610    5,151    5,761 
Charge for year   192    192 
On disposals    
At 30 April 2024 610    5,343    5,953 
Net book values
Closing balance as at 30 April 2024   554    554 
Opening balance as at 01 May 2023   401    401 


4.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 21,345    21,452 
Amount Owed by Group Undertakings 8,974    6,089 
Accrued Income 19,863    46,299 
Other Debtors 4,718    4,718 
54,900    78,558 

4.

Debtors: amounts falling due after one year

2024
£
  2023
£
Prepayments 1,573   
1,573   

5.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 2,649    8,893 
PAYE & Social Security 667   
Accrued Expenses   2,050 
Other Creditors 10,941    14,350 
Wages & Salaries Control Account   768 
Pension Control Account 982   
Directors' Current Accounts 658,462    427,991 
VAT 5,333    17,617 
679,034    471,669 

6.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 105   
105   

7.

Reserves

2024
£
  2023
£
Share Options Reserve b/fwd 792,067    715,506 
792,067    715,506 

8.

Related parties

During the year the company entered into the following transactions with related parties:
Transaction value - income/(expenses) Balance owed by/(owed to)
2024
£
 2023
£
 2024
£
 2023
£
Twende Productions Limited2,886 8,974 6,089 

On 30 April 2024, the company owed £8,974 (2023: was owed £6,089 by) by Twende Productions, its 100% subsidiary.
9.

Director’s loan

Loans provided by director to company

As at the balance sheet date, the company owed the director a total of £658,462 (£389,720: 2023)
The loans provided are interest free and repayable on demand
10.

Going Concern Note

The company's Financial statements have been prepared on a going concern basis. The companies directors and shareholders will continue to support the business for the foreseeable future, if required. 
11.

Financial Commitments

At the year end, Braintrust Limited had an aggregated total of rental commitments relating to non-cancellable operating leases of £36,170.
3