Brainsells Uk Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03575809 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 May 2018

for

Brainsells Uk Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J M Hand

J Lishman

SECRETARY:

J Lishman

REGISTERED OFFICE:

04 Whitchurch Parade

Whitchurch Lane

Edgware

Middlsex

HA8 6LR

REGISTERED NUMBER:

03575809 (England and Wales)

ACCOUNTANTS:

Amity Management Consulting Ltd

Chartered Certified Accountants

04 Whitchurch Parade

Whitchurch Lane

Edgware

Middlesex

HA8 6LR

FIXED ASSETS

Tangible assets

4

125

248

CURRENT ASSETS

Debtors

5

-

3,381

Cash at bank

6

7,422

378

7,422

3,759

CREDITORS

Amounts falling due within one year

7

6,211

5,221

NET CURRENT ASSETS/(LIABILITIES)

1,211

(1,462

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,336

(1,214

)

CAPITAL AND RESERVES

Called up share capital

8

2

2

Retained earnings

9

1,334

(1,216

)

SHAREHOLDERS' FUNDS

1,336

(1,214

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2018 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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 28 January 2019 and were signed on its behalf by:

J M Hand - Director

J Lishman - Director

1.	STATUTORY INFORMATION

Brainsells Uk Limited 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2017 - 2 ).

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 June 2017

and 31 May 2018

1,249

DEPRECIATION

At 1 June 2017

1,001

Charge for year

123

At 31 May 2018

1,124

NET BOOK VALUE

At 31 May 2018

125

At 31 May 2017

248

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.18

31.5.17

£

£

Directors' current accounts

-

3,381

6.	CASH AT BANK

31.5.18

31.5.17

£

£

Bank account no. 2

6,921

378

Bank account no. 3

501

-

7,422

378

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.18

31.5.17

£

£

Bank loans and overdrafts

361

1

Skilstream Ltd

(1,592

)

4,342

Tax

2,318

(372

)

Other creditors

710

-

Directors' current accounts

4,414

-

Accrued expenses

-

1,250

6,211

5,221

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.18

31.5.17

value:

£

£

2

Ordinary

1

2

2

9.

RESERVES

Retained

earnings

£

At 1 June 2017

(1,216

)

Profit for the year

11,550

Dividends

(9,000

)

At 31 May 2018

1,334

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 May 2018 and 31 May 2017:

31.5.18

31.5.17

£

£

J M Hand and J Lishman

Balance outstanding at start of year

3,381

-

Amounts advanced

-

3,381

Amounts repaid

(3,381

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

3,381