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Registration number: 7349800

B G Brain Decorators Limited

trading as B G Brain Decorators Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

B G Brain Decorators Limited

trading as B G Brain Decorators Ltd

Contents

Company Information

1

Statement of Director's Responsibilities

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 13

 

B G Brain Decorators Limited

trading as B G Brain Decorators Ltd

Company Information

Director

Mr Paul Edward Thompson

Registered office

27A Morelands Trading Estate
Bristol Road
Gloucester
GL1 5RZ

Accountants

Cashtrac Ltd
15 Westgate House
Westgate Street
Gloucester
Gloucestershire
GL1 2RU

 

B G Brain Decorators Limited

trading as B G Brain Decorators Ltd

Statement of Director's Responsibilities

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006 and in accordance with FRS 102 section 1A, the Financial Reporting Standard applicable to the Small Entities Regime. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

 

B G Brain Decorators Limited

trading as B G Brain Decorators Ltd

(Registration number: 7349800)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

2,624

3,499

Current assets

 

Debtors

6

38,402

44,558

Cash at bank and in hand

 

(33,344)

(41,086)

 

5,058

3,472

Creditors: Amounts falling due within one year

7

(17,395)

(17,519)

Net current liabilities

 

(12,337)

(14,047)

Total assets less current liabilities

 

(9,713)

(10,548)

Creditors: Amounts falling due after more than one year

7

(47,829)

(68,464)

Net liabilities

 

(57,542)

(79,012)

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

(57,642)

(79,112)

Shareholders' deficit

 

(57,542)

(79,012)

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 23 May 2025
 

 

B G Brain Decorators Limited

trading as B G Brain Decorators Ltd

(Registration number: 7349800)
Balance Sheet as at 31 August 2024

.........................................
Mr Paul Edward Thompson
Director

 

B G Brain Decorators Limited

trading as B G Brain Decorators Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales .

The address of its registered office is:
27A Morelands Trading Estate
Bristol Road
Gloucester
GL1 5RZ

These financial statements were authorised for issue by the director on 23 May 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

B G Brain Decorators Limited

trading as B G Brain Decorators Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & Machinery

15% straight line

Motor Vehicles

20% straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

B G Brain Decorators Limited

trading as B G Brain Decorators Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

 

B G Brain Decorators Limited

trading as B G Brain Decorators Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 September 2023

25,000

25,000

At 31 August 2024

25,000

25,000

Amortisation

At 1 September 2023

25,000

25,000

At 31 August 2024

25,000

25,000

Carrying amount

At 31 August 2024

-

-

5

Tangible assets

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 September 2023

4,945

19,765

24,710

At 31 August 2024

4,945

19,765

24,710

Depreciation

At 1 September 2023

2,859

18,352

21,211

Charge for the year

521

354

875

At 31 August 2024

3,380

18,706

22,086

Carrying amount

At 31 August 2024

1,565

1,059

2,624

At 31 August 2023

2,086

1,413

3,499

6

Debtors

 

B G Brain Decorators Limited

trading as B G Brain Decorators Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Current

2024
£

2023
£

Trade debtors

36,433

43,326

Prepayments

1,969

1,233

Other debtors

-

(1)

 

38,402

44,558

 

B G Brain Decorators Limited

trading as B G Brain Decorators Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

4,815

-

Trade creditors

 

5,000

10,096

Taxation and social security

 

7,580

6,153

Other creditors

 

-

1,270

 

17,395

17,519

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

47,829

68,464

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100

       

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

4,437

14,484

Other borrowings

43,392

53,980

47,829

68,464

Current loans and borrowings

2024
£

2023
£

Bank borrowings

4,815

-

 

B G Brain Decorators Limited

trading as B G Brain Decorators Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

10

Related party transactions

 

B G Brain Decorators Limited

trading as B G Brain Decorators Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Transactions with the director

2024

At 1 September 2023
£

Advances to director
£

At 31 August 2024
£

Mr Paul Edward Thompson

Amount due to Director

36,515

(6,270)

30,244

2023

At 1 September 2022
£

Advances to director
£

Repayments by director
£

At 31 August 2023
£

Mr Paul Edward Thompson

Amount due to Director

35,198

(1,650)

2,967

36,515

 

B G Brain Decorators Limited

trading as B G Brain Decorators Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

16,558

21,923