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REGISTERED NUMBER: 07053595 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 July 2024

for

BRACE CREATIVE AGENCY LTD

BRACE CREATIVE AGENCY LTD (REGISTERED NUMBER: 07053595)

Contents of the Financial Statements
FOR THE YEAR ENDED 31 JULY 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


BRACE CREATIVE AGENCY LTD

Company Information
FOR THE YEAR ENDED 31 JULY 2024







DIRECTORS: M D Bracey
N Bracey
S J Doyle





SECRETARY: M D Bracey





REGISTERED OFFICE: 4th Floor St. James House
St James' Square
Cheltenham
Gloucestershire
GL50 3PR





REGISTERED NUMBER: 07053595 (England and Wales)





ACCOUNTANTS: Crowe U.K. LLP
4th Floor
St James House
St James Square
Cheltenham
Gloucestershire
GL50 3PR

BRACE CREATIVE AGENCY LTD (REGISTERED NUMBER: 07053595)

Statement of Financial Position
31 JULY 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Property, plant and equipment 5 19,790 38,005
19,790 38,005

CURRENT ASSETS
Debtors 6 116,013 142,445
Cash at bank 34,902 58,662
150,915 201,107
CREDITORS
Amounts falling due within one year 7 109,747 151,632
NET CURRENT ASSETS 41,168 49,475
TOTAL ASSETS LESS CURRENT
LIABILITIES

60,958

87,480

CREDITORS
Amounts falling due after more than
one year

8

19,995

28,614
NET ASSETS 40,963 58,866

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 40,863 58,766
40,963 58,866

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

BRACE CREATIVE AGENCY LTD (REGISTERED NUMBER: 07053595)

Statement of Financial Position - continued
31 JULY 2024


The 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 April 2025 and were signed on its behalf by:





N Bracey - Director


BRACE CREATIVE AGENCY LTD (REGISTERED NUMBER: 07053595)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 JULY 2024


1. STATUTORY INFORMATION

Brace Creative Agency Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on cost
Office equipment - 25% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


BRACE CREATIVE AGENCY LTD (REGISTERED NUMBER: 07053595)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JULY 2024


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Research and development
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project If and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic Iives, which range from 3 to 6 years.

If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2023 - 20 ) .

BRACE CREATIVE AGENCY LTD (REGISTERED NUMBER: 07053595)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JULY 2024


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2023
and 31 July 2024 7,899
AMORTISATION
At 1 August 2023
and 31 July 2024 7,899
NET BOOK VALUE
At 31 July 2024 -
At 31 July 2023 -

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Plant and and Motor Office
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 August 2023 4,650 107,680 28,273 69,908 210,511
Additions - - - 2,795 2,795
At 31 July 2024 4,650 107,680 28,273 72,703 213,306
DEPRECIATION
At 1 August 2023 3,720 101,749 20,577 46,460 172,506
Charge for year 930 1,483 2,565 16,032 21,010
At 31 July 2024 4,650 103,232 23,142 62,492 193,516
NET BOOK VALUE
At 31 July 2024 - 4,448 5,131 10,211 19,790
At 31 July 2023 930 5,931 7,696 23,448 38,005

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 73,769 94,129
Other debtors 42,244 48,316
116,013 142,445

BRACE CREATIVE AGENCY LTD (REGISTERED NUMBER: 07053595)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JULY 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 7,444 7,929
Hire purchase contracts (see note 9)
2,090

2,090
Trade creditors 22,768 28,366
Taxation and social security 55,660 68,864
Other creditors 21,785 44,383
109,747 151,632

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 11,842 19,287
Hire purchase contracts (see note 9)
8,153

9,327
19,995 28,614

9. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2024 2023
£    £   
Net obligations repayable:
Within one year 2,090 2,090
Between one and five years 8,153 9,327
10,243 11,417

BRACE CREATIVE AGENCY LTD (REGISTERED NUMBER: 07053595)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JULY 2024


10. RELATED PARTY DISCLOSURES

During the year, Brace Creative Agency entered into transactions with related parties. The transactions are all deemed to be on a commercial basis, at arms length and deemed related parties by virtue of common control:

White Light Hosting Limited:
Balance outstanding at the balance sheet date and included in Other Creditors is £1,351 (2023: £6,149 included in other debtors).

Icre8te Limited:
Balance outstanding at the balance sheet date and included in Other Debtors is £3,500 (2023: £nil).

Lawn Doc Limited
Balance outstanding at the balance sheet date and included in Other Debtors is £23,116 (2023: £27,316).