Company Registration No. 07614300 (England and Wales)
B UNIQUE MANAGEMENT (UK) LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2019
PAGES FOR FILING WITH REGISTRAR
B UNIQUE MANAGEMENT (UK) LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
B UNIQUE MANAGEMENT (UK) LTD
BALANCE SHEET
AS AT 31 DECEMBER 2019
31 December 2019
- 1 -
2019
2018
as restated
Notes
£
£
£
£
Fixed assets
Investments
2
446
446
Current assets
-
-
Creditors: amounts falling due within one year
3
(56,177)
(42,682)
Net current liabilities
(56,177)
(42,682)
Total assets less current liabilities
(55,731)
(42,236)
Capital and reserves
Called up share capital
4
100
100
Profit and loss reserves
(55,831)
(42,336)
Total equity
(55,731)
(42,236)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 December 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 22 December 2020 and are signed on its behalf by:
M Toher
M Lewis
Director
Director
Company Registration No. 07614300
B UNIQUE MANAGEMENT (UK) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2019
- 2 -
1
Accounting policies
Company information
B Unique Management (UK) Ltd is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
3rd Floor, 5 Chancery Lane, London, WC2A 1LG.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention.
1.2
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.
The investments are assessed for impairment at each reporting date
and
any
impairment
losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company
. Control is
the power to govern the financial and operating policies of
the
entity so as to obtain benefits from its activities.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities
.
1.3
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset
, with
the net amounts presented in the financial statements
,
when there is a legally 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.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price
.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
B UNIQUE MANAGEMENT (UK) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2019
1
Accounting policies
(Continued)
- 3 -
Basic financial liabilities
Basic financial liabilities
are
recognised at transaction price
.
1.4
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.5
For the year ended 31 December 2018 financial statements, material transactions were discovered which were previously understood to have related to B-Unique Records (UK) Limited. This is a company under common control. The comparatives have therefore been restated.
2
Fixed asset investments
2019
2018
£
£
Investments
446
446
Movements in fixed asset investments
Shares in group undertakings and participating interests
£
Cost or valuation
At 1 January 2019 & 31 December 2019
446
Carrying amount
At 31 December 2019
446
At 31 December 2018
446
3
Creditors: amounts falling due within one year
2019
2018
£
£
Other creditors
56,177
42,682
4
Called up share capital
2019
2018
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary Shares of £1 each
100
100
B UNIQUE MANAGEMENT (UK) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2019
4
Called up share capital
2019
2018
£
£
(Continued)
- 4 -
5
Related party transactions
Creditors include £26,288 (2018: £20,141) due to a company director.
Creditors also include £26,288 (2018: £20,141) due to another company director.
No interest has been charged on these amounts.
6
Control
The company is under the control of the directors with no individual director having overall control.