BRAVE PROMOTIONS LIMITED


Director	R Blake


Registered Address	The Winchester Gate
	Rampart Road
	Salisbury
	SP1 1JA


Registered Number	10194903 (England and Wales)

Notes to the Financial Statements
for the year ended 31 May 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	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.

	Judgements and key sources of estimation uncertainty
	In applying the Company's accounting policies, the directors are required to make judgements, estimates and assumptions in determining the carrying amounts of assets and liabilities. The directors' best judgements, estimates and assumptions are based on the best and most reliable evidence available at the time when the decisions are made, and are based on historical experience and other factors that are considered to be appropriate. Due to the inherent subjectivity involved in making such judgements, estimates and assumptions, the actual results and outcomes may differ. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods, if the revision affects both current and future periods.

Judgements and key sources of estimation uncertainty

In applying the Company's accounting policies, the directors are required to make judgements, estimates and  assumptions in determining the carrying amounts of assets and liabilities. The directors' best judgements,  estimates and assumptions are based on the best and most reliable evidence available at the time when the  decisions are made, and are based on historical experience and other factors that are considered to be  appropriate.

Due to the inherent subjectivity involved in making such judgements, estimates and assumptions, the actual  results and outcomes may differ.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates  are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the  period of the revision and future periods, if the revision affects both current and future periods.

	Revenue from sale of goods
	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.

Revenue from sale of goods

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.

	Operating leases
	Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

	Defined contribution pension plan
	A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods. Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Defined contribution pension plan

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and  the company has no legal or constructive obligation to pay further contributions even if the fund does not hold  sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If  contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

	Current taxation
	The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Current taxation

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change  attributable to an item of income or expense recognised as other comprehensive income is also recognised  directly in other comprehensive income.

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

	Tangible fixed assets and depreciation
	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. 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: Refurbishment 15% Reducing balance

Tangible fixed assets and depreciation

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.

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:

Refurbishment        15% Reducing balance


		Reducing balance (%)
	Land and buildings	10
	Fixtures and fittings	25

	Stocks and work in progress
	Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method. The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Stocks and work in progress

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is  determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct  labour costs and those overheads that have been incurred in bringing the inventories to their present location  and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

	Trade and other 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 and other 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.

	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 and other 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.

Trade and other 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.

	Financial instruments
	Classification The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties. Debt instruments such as loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method; Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However if the arrangements of a short-term instrument constitute a financing transaction, such as the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an outright short-term loan not at market rate, the financial asset or liability is measured, initially and subsequently, at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss. Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an 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.

Financial instruments

Classification
The company only enters into basic financial instruments transactions that result in the recognition of financial  assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third  parties and loans to related parties.

Debt instruments such as loans and other accounts receivable and payable are initially measured at present  value of the future payments and subsequently at amortised cost using the effective interest method; Debt  instruments that are payable or receivable within one year, typically trade payables or receivables, are  measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected  to be paid or received. However if the arrangements of a short-term instrument constitute a financing  transaction, such as the payment of a trade debt deferred beyond normal business terms or financed at a rate  of interest that is not a market rate or in the case of an outright short-term loan not at market rate, the  financial asset or liability is measured, initially and subsequently, at the present value of the future payments  discounted at a market rate of interest for a similar debt instrument.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period  for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is  recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position  when there is an 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.

	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.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	7		7

3.	Tangible fixed assets

	Land & buildings	Fixtures & fittings	Total
	£	£	£
Cost or valuation
At 01 June 24	45,405	56,596	102,001
Additions	-	495	495
At 31 May 25	45,405	57,091	102,496
Depreciation and impairment
At 01 June 24	24,322	35,002	59,324
Charge for year	2,316	5,522	7,838
At 31 May 25	26,638	40,524	67,162
Net book value
At 31 May 25	18,767	16,567	35,334
At 31 May 24	21,083	21,594	42,677

4.	Stocks

	2025	2024
	£	£
Other stocks	18,904	7,191
Total	18,904	7,191

5.	Debtors: amounts due within one year

	2025	2024
	£	£
Prepayments and accrued income	-	1,197
Total	-	1,197

6.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	9,816	11,795
Bank borrowings and overdrafts	-	50
Taxation and social security	33,922	10,501
Other creditors	42,441	36,743
Accrued liabilities and deferred income	1,007	326
Total	87,186	59,415

7.	Share capital
	Allotted, called up and fully paid shares 100 Ordinary shares of £1 each

8.	Related party transactions
	The director's remuneration for the period was as follows: Remuneration £21,300 (2024 - £27,300)

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	3		35,334		42,677
			35,334		42,677
Current assets
Stocks	4	18,904		7,191
Debtors	5	-		1,197
Cash at bank and on hand		22,806		20,067
		41,710		28,455
Creditors amounts falling due within one year	6	(87,186)		(59,415)
Net current assets (liabilities)			(45,476)		(30,960)
Total assets less current liabilities			(10,142)		11,717
Net assets			(10,142)		11,717
Capital and reserves
Called up share capital			100		100
Profit and loss account			(10,242)		11,617
Shareholders' funds			(10,142)		11,717