Registration number:
Brainpool Ltd
for the Period from 24 February 2016 to 31 March 2017
Brainpool Ltd
Contents
Company Information |
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Directors' Report |
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Accountants' Report |
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Abridged Profit and Loss Account |
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Statement of Comprehensive Income |
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Abridged Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Abridged Financial Statements |
Brainpool Ltd
Company Information
Directors |
Miss Katarzyna Borowska Paula Parpart |
Registered office |
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Accountants |
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Page 1 |
Brainpool Ltd
Directors' Report for the Period from 24 February 2016 to 31 March 2017
The directors present their report and the abridged financial statements for the period from 24 February 2016 to 31 March 2017.
Directors of the company
The directors who held office during the period were as follows:
Principal activity
The principal activity of the company is providing professional activities.
Small companies provision statement
This report has 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.
Approved by the Board on
.........................................
Miss Katarzyna Borowska
Director
Page 2 |
Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Brainpool Ltd
for the Period Ended 31 March 2017
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Brainpool Ltd for the period ended 31 March 2017 as set out on pages 4 to 9 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/en/members/regulations-standards-and-guidance/.
This report is made solely to the Board of Directors of Brainpool Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Brainpool Ltd and state those matters that we have agreed to state to the Board of Directors of Brainpool Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Brainpool Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Brainpool Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Brainpool Ltd. You consider that Brainpool Ltd is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the accounts of Brainpool Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
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Page 3 |
Brainpool Ltd
Abridged Profit and Loss Account for the Period from 24 February 2016 to 31 March 2017
Note |
Total |
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Gross profit |
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Administrative expenses |
( |
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Loss before tax |
( |
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Loss for the financial period |
( |
The above results were derived from continuing operations.
The company has no recognised gains or losses for the period other than the results above.
Page 4 |
Brainpool Ltd
Statement of Comprehensive Income for the Period from 24 February 2016 to 31 March 2017
Note |
2017 |
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Loss for the period |
( |
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Total comprehensive income for the period |
( |
Page 5 |
Brainpool Ltd
(Registration number: 10024360)
Abridged Balance Sheet as at 31 March 2017
Note |
2017 |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Accruals and deferred income |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Total equity |
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For the financial period ending 31 March 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
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• |
The directors acknowledge their 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.
All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.
Approved and authorised by the
.........................................
Miss Katarzyna Borowska
Director
Page 6 |
Brainpool Ltd
Statement of Changes in Equity for the Period from 24 February 2016 to 31 March 2017
Share capital |
Profit and loss account |
Total |
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At 24 February 2016 |
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Loss for the period |
- |
( |
( |
Total comprehensive income |
- |
( |
( |
At 31 March 2017 |
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- |
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Page 7 |
Brainpool Ltd
Notes to the Abridged Financial Statements for the Period from 24 February 2016 to 31 March 2017
General information |
The company is a private company limited by share capital incorporated in the United Kingdom.
The address of its registered office is:
These financial statements were authorised for issue by the
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 abridged financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
Basis of preparation
These abridged 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.
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.
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.
Page 8 |
Brainpool Ltd
Notes to the Abridged Financial Statements for the Period from 24 February 2016 to 31 March 2017
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.
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.
Page 9 |