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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021 |
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BUYAPOWA LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021 |
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FOR |
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BUYAPOWA LIMITED |
BUYAPOWA LIMITED (REGISTERED NUMBER: 07574698) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 30 June 2021 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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BUYAPOWA LIMITED |
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COMPANY INFORMATION |
for the Year Ended 30 June 2021 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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24 Wellington Business Park |
Dukes Ride |
Crowthorne |
Berkshire |
RG45 6LS |
BUYAPOWA LIMITED (REGISTERED NUMBER: 07574698) |
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BALANCE SHEET |
30 June 2021 |
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30/6/21 | 30/6/20 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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Investments | 6 |
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CURRENT ASSETS |
Debtors | 7 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 8 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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CREDITORS |
Amounts falling due after more than one year | 9 |
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NET LIABILITIES | ( |
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CAPITAL AND RESERVES |
Called up share capital | 10 |
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Share premium |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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BUYAPOWA LIMITED (REGISTERED NUMBER: 07574698) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 30 June 2021 |
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1. | STATUTORY INFORMATION |
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Buyapowa Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents revenue earned under a variety of contracts to provide services. |
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Revenue is recognised on a monthly basis over the life of a contract. To the extent that revenue is not earned within an accounting period it is recorded in the balance sheet within creditors as deferred income and released to the profit and loss account in the period to which it relates. |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
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Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Plant and machinery - 33% on cost |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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Research and development |
Expenditure on research and development is capitalised as an intangible asset. |
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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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
BUYAPOWA LIMITED (REGISTERED NUMBER: 07574698) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30 June 2021 |
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2. | ACCOUNTING POLICIES - continued |
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Going concern |
The company meets its day to day working capital requirements through obtaining short and medium term funding. |
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The nature of the company's business is such that there can be considerable unpredictable variation in the timing of cash inflows. The directors have considered projected cash flow information for a period more than one year from the date of their approval of these financial statements. On the basis of this cash flow information and with reference to the present short and medium term funding already obtained the directors consider that the company will require no additional facilities to meet its day to day obligations. |
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The financial statements do not include any adjustments that would result from a lack of working capital. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
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COST |
At 1 July 2020 |
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Additions |
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At 30 June 2021 |
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AMORTISATION |
At 1 July 2020 |
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Charge for year |
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At 30 June 2021 |
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NET BOOK VALUE |
At 30 June 2021 |
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At 30 June 2020 |
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5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1 July 2020 |
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Additions |
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At 30 June 2021 |
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DEPRECIATION |
At 1 July 2020 |
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Charge for year |
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At 30 June 2021 |
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NET BOOK VALUE |
At 30 June 2021 |
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At 30 June 2020 |
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BUYAPOWA LIMITED (REGISTERED NUMBER: 07574698) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30 June 2021 |
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6. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
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COST |
At 1 July 2020 |
and 30 June 2021 |
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NET BOOK VALUE |
At 30 June 2021 |
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At 30 June 2020 |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30/6/21 | 30/6/20 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30/6/21 | 30/6/20 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30/6/21 | 30/6/20 |
£ | £ |
Other creditors |
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Other creditors comprise unsecured loans totalling £1,100,000. These are detailed below : |
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A convertible loan note of £600,000 was issued in June 2020 under the Government Future Fund Scheme. £300,000 was from the British Business Bank and £300,00 from a Director of the company. The loans have a fixed interest rate of 8% per annum and a term of 36 months. |
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A CIBILS loan of £500,000 was issued in June 2021 from the Greater London Investment Fund. The loan has a fixed interest rate of 9% and a term of 36 months. |
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10. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30/6/21 | 30/6/20 |
value: | £ | £ |
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Ordinary | 0.1p | 12,051 | 12,051 |
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Deferred | 0.1p | 1,000 | 1,000 |
13,051 | 13,051 |