Company registration number 10751996 (England and Wales)
BARDOM GROUP LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2021
PAGES FOR FILING WITH REGISTRAR
BARDOM GROUP LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 8
BARDOM GROUP LIMITED
BALANCE SHEET
AS AT
31 AUGUST 2021
31 August 2021
- 1 -
2021
2020
Notes
£
£
£
£
Fixed assets
Tangible assets
3
22,141
20,546
Investments
4
4,850
4,750
26,991
25,296
Current assets
Stocks
67,492
55,897
Debtors
5
261,016
181,532
Cash at bank and in hand
584
232,332
329,092
469,761
Creditors: amounts falling due within one year
6
(247,044)
(284,067)
Net current assets
82,048
185,694
Total assets less current liabilities
109,039
210,990
Creditors: amounts falling due after more than one year
7
(38,010)
(48,309)
Provisions for liabilities
(3,100)
Net assets
67,929
162,681
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
67,829
162,581
Total equity
67,929
162,681
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 August 2021 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.
BARDOM GROUP LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 AUGUST 2021
31 August 2021
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 23 August 2022 and are signed on its behalf by:
Mr J Barrow
Mr A K Wisdom
Director
Director
Company Registration No. 10751996
BARDOM GROUP LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 AUGUST 2021
- 3 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 September 2019
2
97,698
97,700
Year ended 31 August 2020:
Profit and total comprehensive income for the year
-
330,883
330,883
Dividends
-
(266,000)
(266,000)
Other movements
98
-
98
Balance at 31 August 2020
100
162,581
162,681
Year ended 31 August 2021:
Profit and total comprehensive income for the year
-
33,248
33,248
Dividends
-
(128,000)
(128,000)
Balance at 31 August 2021
100
67,829
67,929
The notes on pages 4 to 8 form part of these financial statements.
BARDOM GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2021
- 4 -
1
Accounting policies
Company information
Bardom Group Limited is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
3-4 Bower Terrace, Tonbridge Road, Maidstone, Kent, ME16 8RY.
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. The principal accounting policies adopted are set out below.
These
financial statements
for the year ended 31 August 2021
are the
first
financial statements
of
Bardom Group Limited
prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 was
1 September 2019
. The reported financial position and financial performance for the previous period are not affected by the transition to FRS 102.
1.2
Turnover
Turnover is
measured
at the fair value of the consideration received or receivable for goods and services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
Revenue from the provision of travel services is generally recognised when the particular contract is complete, unless the service covers an extended period when revenue
is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that
it is probable will be
recover
ed
.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer
(usually on dispatch of the goods).
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
25% straight line basis
Computers
33% straight line basis
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
BARDOM GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2021
1
Accounting policies
(Continued)
- 5 -
1.4
Fixed asset investments
Interests in subsidiaries
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.
1.5
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
1.6
Financial instruments
The company has elected to apply the
recognition and measurement
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.
Basic financial assets
Basic financial assets, which include
debtors
and cash and bank balances, are measured at transaction price including transaction costs
.
Basic financial liabilities
Basic financial liabilities, including
creditors
, bank loans
and
loans from
fellow group companies, are
initially recognised at transaction price
.
1.7
Taxation
The tax expense represents the sum of the tax currently payable
or receivable
and deferred tax.
Current 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.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits
.
1.8
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
BARDOM GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2021
1
Accounting policies
(Continued)
- 6 -
1.9
Leases
Rentals payable under operating leases,
including
any lease incentives received, are charged to
profit or loss
on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease
s
asset are consumed.
1.10
Government grants
Government grants are recognised
as income at the amount received or receivable when there is reasonable assurance that the grant conditions will be met and the grant will be received. Grants under the Coronavirus Job Retention Scheme are recognised over the periods in which the related costs are incurred.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2021
2020
Number
Number
Total
9
8
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 September 2020
27,903
Additions
11,565
At 31 August 2021
39,468
Depreciation and impairment
At 1 September 2020
7,357
Depreciation charged in the year
9,970
At 31 August 2021
17,327
Carrying amount
At 31 August 2021
22,141
At 31 August 2020
20,546
BARDOM GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2021
- 7 -
4
Fixed asset investments
2021
2020
£
£
Shares in group undertakings and participating interests
2,100
2,000
Other investments other than loans
2,750
2,750
4,850
4,750
Movements in fixed asset investments
Shares in subsidiaries
Other investments
Total
£
£
£
Cost or valuation
At 1 September 2020
2,000
2,750
4,750
Additions
100
-
100
At 31 August 2021
2,100
2,750
4,850
Carrying amount
At 31 August 2021
2,100
2,750
4,850
At 31 August 2020
2,000
2,750
4,750
5
Debtors
2021
2020
Amounts falling due within one year:
£
£
Trade debtors
25,000
25,000
Other debtors
236,016
156,532
261,016
181,532
Other debtors includes £186,126 (2020 - £141,300) owed by the directors. This balance was repaid to the company subsequent to the year end.
BARDOM GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2021
- 8 -
6
Creditors: amounts falling due within one year
2021
2020
£
£
Bank loans
10,300
1,913
Trade creditors
8,122
Amounts owed to group undertakings
53,639
56,849
Taxation and social security
111,338
210,745
Other creditors
63,645
14,560
247,044
284,067
7
Creditors: amounts falling due after more than one year
2021
2020
£
£
Bank loans
38,010
48,309
8
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2021
2020
£
£
21,000
32,900
9
Directors' transactions
During the year, the company made advances totalling £141,917 (2020 - £182,932) and £129,259 (2020 - £170,920) to the directors. These incurred interest at HM Revenue & Customs approved rates and there are no fixed terms for repayment. Repayments totalling £117,290 (2020 - £160,657) and £109,060 (2020 - £147,900) respectively were made in relation to these and earlier advances.