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Registered number: 09968541









BRAVE FOODS LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2025

 
BRAVE FOODS LTD
 
 
COMPANY INFORMATION


Directors
A R Fraser 
S R Sokol 
J Cocker 




Registered number
09968541



Registered office
86-90 Paul Street

London

England

EC2A 4NE




Accountants
Donald Reid Limited

1010 Eskdale Road

Winnersh

Wokingham

RG41 5TS





 
BRAVE FOODS LTD
 

CONTENTS



Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 9


 
BRAVE FOODS LTD
REGISTERED NUMBER: 09968541

BALANCE SHEET
AS AT 31 JANUARY 2025

2025
2024
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,590
2,689

  
2,590
2,689

Current assets
  

Stocks
 5 
72,779
56,388

Debtors: amounts falling due within one year
 6 
88,063
96,846

Cash at bank and in hand
 7 
69,794
90,413

  
230,636
243,647

Creditors: amounts falling due within one year
 8 
(106,288)
(103,291)

Net current assets
  
 
 
124,348
 
 
140,356

Total assets less current liabilities
  
126,938
143,045

Creditors: amounts falling due after more than one year
 9 
(31,517)
(54,202)

  

Net assets
  
95,421
88,843


Capital and reserves
  

Called up share capital 
 11 
155
155

Share premium account
  
994,594
994,594

Profit and loss account
  
(899,328)
(905,906)

  
95,421
88,843

Page 1

 
BRAVE FOODS LTD
REGISTERED NUMBER: 09968541
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2025

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 16 May 2025.




A R Fraser
Director

The notes on pages 3 to 9 form part of these financial statements.
Page 2

 
BRAVE FOODS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

1.


General information

Brave Foods Ltd is a private company limited by shares. The company was incorporated in the United Kingdom and is registered in England and Wales. The registration number is 09968541. The registered office address of the company is 86-90 Paul Street, London, England, EC2A 4NE. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
BRAVE FOODS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Research and development

The company expenses research and development expenses as incurred.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
BRAVE FOODS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

2.Accounting policies (continued)

 
2.8

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
20%
Computer equipment
-
20%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. 
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 5

 
BRAVE FOODS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

2.Accounting policies (continued)

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are 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.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2024 - 3).


4.


Tangible fixed assets





Plant and machinery
Computer equipment
Total

£
£
£



Cost or valuation


At 1 February 2024
2,119
3,445
5,564


Additions
1,100
-
1,100



At 31 January 2025

3,219
3,445
6,664



Depreciation


At 1 February 2024
785
2,090
2,875


Charge for the year on owned assets
644
555
1,199



At 31 January 2025

1,429
2,645
4,074



Net book value



At 31 January 2025
1,790
800
2,590



At 31 January 2024
1,334
1,355
2,689

Page 6

 
BRAVE FOODS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

5.


Stocks

2025
2024
£
£

Finished goods and goods for resale
72,779
56,388

72,779
56,388



6.


Debtors

2025
2024
£
£


Trade debtors
73,817
68,210

Other debtors
13,231
28,365

Prepayments and accrued income
1,015
271

88,063
96,846



7.


Cash and cash equivalents

2025
2024
£
£

Cash at bank and in hand
69,794
90,413

69,794
90,413



8.


Creditors: Amounts falling due within one year

2025
2024
£
£

Other loans
22,685
20,438

Trade creditors
65,687
59,842

Other taxation and social security
5,275
5,517

Other creditors
12,641
17,494

106,288
103,291


Page 7

 
BRAVE FOODS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

9.


Creditors: Amounts falling due after more than one year

2025
2024
£
£

Other loans
31,517
54,202

31,517
54,202



10.


Loans


Analysis of the maturity of loans is given below:


2025
2024
£
£

Amounts falling due within one year

Other loans
22,685
20,438


22,685
20,438

Amounts falling due 1-2 years

Other loans
31,517
22,685


31,517
22,685

Amounts falling due 2-5 years

Other loans
-
31,517


-
31,517


54,202
74,640



11.


Share capital

2025
2024
£
£
Allotted, called up and fully paid



1,549,419 (2024 - 1,549,419) Ordinary shares of £0.0001 each
155
155


Page 8

 
BRAVE FOODS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

12.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £4,689 (2024: £5,117). Contributions totalling £1,019 (2023: £1,009) were payable to the fund at the balance sheet date and are included in creditors.


13.


Related party transactions

At the year end included within other creditors is an amount of £4,577 (2024: £7,879) owed to directors by the company.

 
Page 9