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Registered number: |
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Balance Sheet | |||||||
as at |
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Restated | |||||||
Notes | 2018 | 2017 | |||||
£ | £ | ||||||
Fixed assets | |||||||
Investments | 3 |
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Current assets | |||||||
Cash at bank and in hand |
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Creditors: amounts falling due within one year | 4 | ( |
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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 | 5 | ( |
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Net (liabilities)/assets | ( |
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Capital and reserves | |||||||
Called up share capital |
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Profit and loss account | ( |
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Shareholders' funds | ( |
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David Marshall | |||||||
Director | |||||||
Approved by the board on |
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Notes to the Accounts | ||||||||
for the year ended |
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1 | Accounting policies | |||||||
1.1 | Basis of preparation | |||||||
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1.2 | 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 amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below." |
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1.3 | Cash at bank and in hand | |||||||
Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. | ||||||||
1.4 | 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 including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. 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. Basic financial liabilities Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised." |
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Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. |
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1.5 | 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. | ||||||||
1.6 | Turnover | |||||||
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1.7 | Fixed asset investments | |||||||
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. |
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1.8 | Taxation | |||||||
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2 | Employees | 2018 | 2017 | |||||
Number | Number | |||||||
Average number of persons employed by the company |
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3 | Investments | |||||||
Other | ||||||||
investments | ||||||||
£ | ||||||||
Cost | ||||||||
At 1 January 2018 |
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At 31 December 2018 |
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Restated | ||||||||
4 | Creditors: amounts falling due within one year | 2018 | 2017 | |||||
£ | £ | |||||||
Other creditors |
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5 | Creditors: amounts falling due after one year | 2018 | 2017 | |||||
£ | £ | |||||||
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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6 | Called up share capital | 2018 | 2017 | |||||
Ordinary share capital | £ | £ | ||||||
Issued and fully paid | ||||||||
100 ordinary shares of £1 each |
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8 | Reclassification of prior year comparatives | |||||||
The 2017 comparatives include £152,511 shown as an investment and £856 shown as other creditors. In the prior year's accounts the investment was incorrectly shown as £151,655 and £0 shown in other creditors. |
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9 | Other information | |||||||
Our Billion Dollar Baby Limited is a private company limited by shares and incorporated in England. Its registered office is: | ||||||||
Olivers Barn | ||||||||
Maldon Road | ||||||||
Witham | ||||||||
Essex | ||||||||
CM8 3HY |