Made Brave Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—7

1. General Information

Made Brave Ltd is a private company, limited by shares, incorporated in Scotland. The registered company number is SC414313 . The registered office is The Social Hub, 15, Candleriggs Square, Glasgow, City Of Glasgow, Scotland, G1 1TQ.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

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

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of value added taxes. Turnover includes revenue earned from the provision of services and is recognised at the point of invoice. If the provision of services spans the financial year end, it is measured by reviewing the actual services performed against the total services to be provided and is only recognised if it can be estimated reliably.

2.3. Intangible Fixed Assets and Amortisation - Other Intangible

Intangible assets are made up of Cryptocurrency and Website expenses.

Cryptocurrency is measured using the revaluation method. The surplus or deficit of the Cryptocurrency is recognised through the profit and loss.

Website expenses are measured at cost and are amortised to the profit and loss account over the estimated economic life of five years using the reducing balance method.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.

Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant and machinery	20% reducing balance and 20% straight line
Fixtures and fittings	20% reducing balance
Computer equipment	20% reducing balance

2.5. Leasing and Hire Purchase Contracts

Assets obtained under hire purchase contracts are capitalised as tangible fixed assets and are depreciated over their useful lives.

Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

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Made Brave Ltd

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2025

2.6. 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 initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, loans from fellow group companies and preference shares that are classified as debt, are initially 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.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. 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. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

2.7. Foreign Currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

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Made Brave Ltd

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2025

2.8. Taxation

The taxation expense represents the sum of the tax currently payable and deferred tax. Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Deferred tax

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

2.9. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

2.10. Government Grant

Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.

Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.

Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.

All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.

3. Average Number of Employees

	2025	2024
Average number of employees, including directors, during the year	34	36

	34	36

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Made Brave Ltd

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2025

4. Intangible Assets

	Cryptocurrency	Website	Total
	£	£	£
Cost or Valuation
As at 1 May 2024	9,588	47,332	56,920
Revaluations	(2,478 )	-	(2,478 )

As at 30 April 2025	7,110	47,332	54,442

Amortisation
As at 1 May 2024	-	27,945	27,945
Provided during the period	-	3,877	3,877

As at 30 April 2025	-	31,822	31,822

Net Book Value
As at 30 April 2025	7,110	15,510	22,620

As at 1 May 2024	9,588	19,387	28,975

5. Tangible Assets

	Plant and machinery	Fixtures and fittings	Computer equipment	Total
	£	£	£	£
Cost
As at 1 May 2024	207,453	139,165	203,131	549,749
Additions	87,731	-	-	87,731
Disposals	(168,415 )	-	(66,987 )	(235,402 )

As at 30 April 2025	126,769	139,165	136,144	402,078

Depreciation
As at 1 May 2024	158,247	82,702	129,450	370,399
Provided during the period	38,713	10,681	16,975	66,369
Disposals	(163,795 )	-	(58,508 )	(222,303 )

As at 30 April 2025	33,165	93,383	87,917	214,465

Net Book Value
As at 30 April 2025	93,604	45,782	48,227	187,613

As at 1 May 2024	49,206	56,463	73,681	179,350

Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:

	2025	2024
	£	£
Computer equipment	-	11,891

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Made Brave Ltd

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2025

6. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	350,813	859,898
Other debtors	35,864	55,650

	386,677	915,548

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	-	6,193
Trade creditors	105,488	160,549
Bank loans and overdrafts	91,666	91,667
Other creditors	894,535	1,541,361
Taxation and social security	217,056	336,208

	1,308,745	2,135,978

8. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Bank loans	55,556	147,222
Other creditors	-	74,765

	55,556	221,987

9. Secured Creditors

Of the creditors the following amounts are secured.

	2025		2024
	£		£
Net obligations under finance lease and hire purchase contracts	-		6,193

10. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2025	2024
	£	£
Not later than one year	159,850	92,740
Later than one year and not later than five years	51,888	85,767

	211,738	178,507

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		22,620		28,975
Tangible Assets	5		187,613		179,350

			210,233		208,325
CURRENT ASSETS
Debtors	6	386,677		915,548
Cash at bank and in hand		1,052,479		1,755,230

		1,439,156		2,670,778
Creditors: Amounts Falling Due Within One Year	7	(1,308,745 )		(2,135,978 )

NET CURRENT ASSETS (LIABILITIES)			130,411		534,800

TOTAL ASSETS LESS CURRENT LIABILITIES			340,644		743,125

Creditors: Amounts Falling Due After More Than One Year	8		(55,556 )		(221,987 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(35,646 )		(45,053 )

NET ASSETS			249,442		476,085

CAPITAL AND RESERVES
Called up share capital			100		100
Revaluation reserve			7,049		7,049
Profit and Loss Account			242,293		468,936

SHAREHOLDERS' FUNDS			249,442		476,085