REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
FOR |
THE LITTLE BUTTERFLY COMPANY LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
FOR |
THE LITTLE BUTTERFLY COMPANY LIMITED |
THE LITTLE BUTTERFLY COMPANY LIMITED (REGISTERED NUMBER: 10508644) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 December 2021 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
THE LITTLE BUTTERFLY COMPANY LIMITED |
COMPANY INFORMATION |
for the Year Ended 31 December 2021 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Herschel House |
58 Herschel Street |
Slough |
Berkshire |
SL1 1PG |
THE LITTLE BUTTERFLY COMPANY LIMITED (REGISTERED NUMBER: 10508644) |
BALANCE SHEET |
31 December 2021 |
31.12.21 | 31.12.20 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
Investments | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Retained earnings | 9 | ( |
) |
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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
THE LITTLE BUTTERFLY COMPANY LIMITED (REGISTERED NUMBER: 10508644) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 December 2021 |
1. | STATUTORY INFORMATION |
The Little Butterfly Company Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Financial instruments |
Basic financial instruments as covered by Section 11 of FRS 102 (Section 1A) are measured at amortised cost. The company does not have any Other Financial Instruments as covered by Section 12 of FRS 102 (Section 1A). |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
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. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Investments |
Unlisted investments are measured at cost less impairment. |
Listed investments are measured at fair value with changes in fair value recognised in profit or loss. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2020 - NIL). |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.21 | 31.12.20 |
£ | £ |
Other debtors |
THE LITTLE BUTTERFLY COMPANY LIMITED (REGISTERED NUMBER: 10508644) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 December 2021 |
5. | CURRENT ASSET INVESTMENTS |
31.12.21 | 31.12.20 |
£ | £ |
Listed investments | 4,169,696 | 1,974,243 |
Unlisted investments | 235,000 | 235,000 |
Listed investments relates to assets held in a managed portfolio of which £797,945.70 (2020: £218,321) is held as cash and £3,048,087 (2020: £1,755,922) in a range of investments. During the year there was a revaluation gain of £195,453 (2020: loss £9,937) which have been charged to the profit and loss account and included in the previously stated fund values. |
Unlisted investments relates to tangible assets held as an investment. |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.21 | 31.12.20 |
£ | £ |
Trade creditors |
Other creditors & accruals |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.12.21 | 31.12.20 |
£ | £ |
Other creditors |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number Class Nominal Value 31.12.21 31.12.20 |
1 Ordinary Type A £1 £1 £1 |
250,000 Ordinary Type B £1 £500,000 £250,000 |
250,000 Ordinary Type C £1 £500,000 £250,000 |
81,250 Ordinary Type D £1 £81,250 £81,250 |
£1,081,251 £581,251 |
9. | RESERVES |
Retained |
earnings |
£ |
At 1 January 2021 | ( |
) |
Profit for the year |
At 31 December 2021 |
THE LITTLE BUTTERFLY COMPANY LIMITED (REGISTERED NUMBER: 10508644) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 December 2021 |
10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
In May 2017, L M Stolzenberg and J P Stolzenberg provided a loan of £750,000 each to The Little Butterfly Company Limited. The loan notes were increased during the year to £1,500,000 each. |
These loans were charged interest at a rate of 0.5% per annum up to July 2021 when they became interest free. |
The accrued interest was paid out to L M Stolzenberg and J P Stolzenberg during the year. |
At the year end the amounts owed to L M Stolzenberg and J P Stolzenberg were £1,500,000 each (2020: £763,603) respectively. |
In addition, L G Stolzenberg, A Green and J P Stolzenberg each received AXA Health insurance, resulting in director current accounts. The respective amounts were repaid within 9 months of the year end. |
11. | SECURED DEBTS |
During the year the company created a fixed and floating charge over its assets and a negative pledge all in favour of Credit Suisse. |