Company Registration No. 4948809 (England and Wales)
BALLANTRAE MANAGEMENT SERVICES LTD
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
PAGES FOR FILING WITH REGISTRAR
BALLANTRAE MANAGEMENT SERVICES LTD
CONTENTS
Page
Director's report
1
Balance sheet
2
Notes to the financial statements
3 - 5
BALLANTRAE MANAGEMENT SERVICES LTD
DIRECTOR'S REPORT
FOR THE YEAR ENDED 31 MARCH 2022
- 1 -
The director presents his annual report and financial statements for the year ended 31 March 2022.
Principal activities
The principal activity of the company continued to be that of Management consultancy activities other than finical management.
Director
The director's, who served throughout the year, except as noted, was as follows:
J M Wright
Small companies exemption
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
On behalf of the board
J M Wright
Director
15 August 2022
BALLANTRAE MANAGEMENT SERVICES LTD
BALANCE SHEET
AS AT 31 MARCH 2022
31 March 2022
- 2 -
2022
2021
Notes
£
£
£
£
Current assets
Debtors
4
770
3,128
Cash at bank and in hand
18,333
11,960
19,103
15,088
Creditors: amounts falling due within one year
5
(9,489)
(7,862)
Net current assets
9,614
7,226
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
9,612
7,224
Total equity
9,614
7,226
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has 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 and signed by the director and authorised for issue on 15 August 2022
J M Wright
Director
Company Registration No. 4948809
BALLANTRAE MANAGEMENT SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
- 3 -
1
Accounting policies
Company information
Ballantrae Management Services Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 308 Ewell Road, Surbiton, Surrey, KT6 7AL.
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 amounts in these financial statements are rounded to the nearest £.
1.2
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, VAT and other sales related taxes.
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), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
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:
Plant and equipment
33.33% on cost
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.
1.4
Pension costs and other post-retirement benefits
The company operates a definded contribution pension scheme.Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
BALLANTRAE MANAGEMENT SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
1
Accounting policies
(Continued)
- 4 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
Total
1
1
BALLANTRAE MANAGEMENT SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
- 5 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2021 and 31 March 2022
730
Depreciation and impairment
At 1 April 2021 and 31 March 2022
730
Carrying amount
At 31 March 2022
At 31 March 2021
4
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
770
3,128
5
Creditors: amounts falling due within one year
2022
2021
£
£
Other creditors
9,489
7,862
6
CONTROL
The company is controlled by J M Wright, one of the directors.