COMPANY REGISTRATION NUMBER:
05566089
Business and Industry Today Limited
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Filleted Unaudited Abridged Financial Statements
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Business and Industry Today Limited
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Abridged Statement of Financial Position
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30 September 2019
Current assets
Debtors
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40,129
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50,411
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Cash at bank and in hand
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80,851
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65,168
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---------
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---------
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120,980
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115,579
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Creditors: amounts falling due within one year
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66,039
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53,568
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---------
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Net current assets
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54,941
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62,011
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--------
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--------
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Total assets less current liabilities
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54,941
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62,011
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--------
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--------
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Net assets
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54,941
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62,011
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--------
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--------
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Capital and reserves
Called up share capital
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102
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102
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Profit and loss account
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54,839
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61,909
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--------
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--------
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Shareholders funds
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54,941
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62,011
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--------
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--------
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These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 September 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
.
All of the members have consented to the preparation of the abridged statement of financial position for the year ending 30 September 2019 in accordance with Section 444(2A) of the Companies Act 2006.
Business and Industry Today Limited
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Abridged Statement of Financial Position (continued)
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30 September 2019
These abridged financial statements were approved by the
board of directors
and authorised for issue on
1 April 2020
, and are signed on behalf of the board by:
Company registration number:
05566089
Business and Industry Today Limited
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Notes to the Abridged Financial Statements
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Year ended 30 September 2019
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Suite 4B, Maybrook House, Queensway, Halesowen, West Midlands, B63 4AH.
2.
Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (b) Disclosures in respect of financial instruments have not been presented.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Defined contribution plans
The company operates a defined contribution pensions scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
29
(2018:
23
).
5.
Directors' advances, credits and guarantees
Mr T.L. Jacques and Mr A.P. Laurent made loans to the company during the year. The loans are interest free an repayable on demand. The balance outstanding at 30th September 2019 was £Nil (2018 £187).
6.
Related party transactions
During the year the company entered into the following transactions with related parties:
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Transaction value
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Balance owed by/(owed to)
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2019
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2018
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2019
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2018
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£
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£
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£
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£
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Fresh Media (Midlands) Limited
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7,900
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–
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–
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–
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Best Practice (Midlands) Limited
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146,567
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139,400
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29,999
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19,999
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Management charges and purchases from companies in which the directors had material equity interests.