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Unaudited Financial Statements |
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for the Period 1 November 2016 to 31 December 2017 |
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for |
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Bidstack Ltd |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Period 1 November 2016 to 31 December 2017 |
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for |
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Bidstack Ltd |
Bidstack Ltd (Registered number: 09835625) |
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Contents of the Financial Statements |
for the Period 1 November 2016 to 31 December 2017 |
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Page |
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Balance Sheet | 1 |
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Notes to the Financial Statements | 3 |
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Bidstack Ltd (Registered number: 09835625) |
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Balance Sheet |
31 December 2017 |
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2017 | 2016 |
as restated |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
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( |
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CAPITAL AND RESERVES |
Called up share capital |
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Share premium |
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Retained earnings | ( |
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( |
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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. |
Bidstack Ltd (Registered number: 09835625) |
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Balance Sheet - continued |
31 December 2017 |
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In accordance with Section 444 of the Companies Act 2006, the Profit and Loss account has not been delivered. |
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The financial statements were approved by the Board of Directors on
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Bidstack Ltd (Registered number: 09835625) |
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Notes to the Financial Statements |
for the Period 1 November 2016 to 31 December 2017 |
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1. | STATUTORY INFORMATION |
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Bidstack Ltd is a
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registered number and registered office address are as below: |
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Registered number: | 09835625 |
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Registered office: | 25 Horsell Road |
London |
N5 1XL |
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2. | ACCOUNTING POLICIES |
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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. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Trademarks |
Trademarks capitalised in the financial statements are being amortised over their estimated useful life of 10 |
years. |
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Website development costs |
Amortisation is provided on a straight line basis over 5 years in order to write off the cost less estimated residual |
value of the asset over its estimated useful life. |
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Tangible fixed assets |
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Computer equipment | - |
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Taxation |
Taxation for the period comprises current tax. Tax is recognised in the Profit and Loss account, except to the |
extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current taxation assets and liabilities are not discounted. |
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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. |
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Research and development |
Expenditure on research and development is written off in the year in which it is incurred. |
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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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Going concern |
The balance sheet at the end of the year recorded net liabilities. However, the directors believe that sufficient |
financial resources are available to the company to enable it to continue trading into the foreseeable future. |
Therefore, the financial statements have been prepared on a going concern basis. |
Bidstack Ltd (Registered number: 09835625) |
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Notes to the Financial Statements - continued |
for the Period 1 November 2016 to 31 December 2017 |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the period was
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4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
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COST |
At 1 November 2016 |
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Additions |
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At 31 December 2017 |
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AMORTISATION |
At 1 November 2016 |
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Charge for period |
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At 31 December 2017 |
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NET BOOK VALUE |
At 31 December 2017 |
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At 31 October 2016 |
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5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 November 2016 |
and 31 December 2017 |
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DEPRECIATION |
At 1 November 2016 |
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Charge for period |
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At 31 December 2017 |
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NET BOOK VALUE |
At 31 December 2017 |
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At 31 October 2016 |
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6. | DEBTORS |
2017 | 2016 |
as restated |
£ | £ |
Amounts falling due within one year: |
Other debtors |
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Bidstack Ltd (Registered number: 09835625) |
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Notes to the Financial Statements - continued |
for the Period 1 November 2016 to 31 December 2017 |
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6. | DEBTORS - continued |
2017 | 2016 |
as restated |
£ | £ |
Amounts falling due after more than one year: |
Other debtors |
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Aggregate amounts |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
as restated |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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8. | OTHER FINANCIAL COMMITMENTS |
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The total financial commitments at the year end is £55,704. |
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9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the periods ended 31 December 2017 and |
31 October 2016: |
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2017 | 2016 |
as restated |
£ | £ |
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Balance outstanding at start of period |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of period |
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The loan to the director is repayable on demand. Interest is charged on loans at the official rate set by HMRC. |
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10. | PRIOR YEAR ADJUSTMENT |
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Within the financial statements for the year ended 31st October 2016 the directors loan account and share |
premium accounts were both overstated by £10,000. The error occurred as result of a further reconciliation of the |
share premium account. In addition S455 tax debtor and tax creditor were omitted in the previous year. This |
resulted in both debtors and creditors being understated by £9,551. The above adjustments have had no impact |
on the profit and loss of the company. |