ACCOUNTS - Final Accounts preparation

Registered number: 11339063

BAPCO (TRADING) LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MARCH 2023

BAPCO (TRADING) LIMITED

REGISTERED NUMBER: 11339063

BALANCE SHEET

AS AT 31 MARCH 2023

		2023		2022
Note		£		£


Current assets
Debtors: amounts falling due within one year	4	97,463		71,842
Cash at bank and in hand	5	173,151		419,934
		270,614		491,776
Creditors: amounts falling due within one year	6	(71,410)		(491,775)
Net current assets			199,204		1
Total assets less current liabilities			199,204		1

Net assets			199,204		1

Capital and reserves
Called up share capital	1	1
Profit and loss account	199,203	-
	199,204	1

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BAPCO (TRADING) LIMITED

REGISTERED NUMBER: 11339063

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 25 September 2023.

Mr C Lucas

Director

The notes on pages 3 to 5 form part of these financial statements.

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BAPCO (TRADING) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2023

1.	General information

BAPCO (Trading) Limited is a private company limited by shares, incorporated in England and Wales, registration number 11339063. The address of its registered office and principal place of business are disclosed in the Company Information section of these financial statements.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Going concern

The Directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. The Company has net current assets and no need for finance. The annual BAPCO show and the Newcastle Satellite series events are forecast to be profitable. Based on this the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services
Revenue from an event or other contract to provide services is recognised in the period in which the event occurs or when services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
• the amount of revenue can be measured reliably;
• it is probable that the Company will receive the consideration due under the contract;
• the stage of completion of the contract at the end of the reporting period can be measured reliably; and

• the costs incurred and the costs to complete the contract can be measured reliably.

2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

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BAPCO (TRADING) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2023

2.Accounting policies (continued)

2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.8

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Employees

The average monthly number of employees, including directors, during the period was 3 (2022 - 3).

Debtors

					2023	2022
					£	£


Trade debtors	12,694	17,022
Prepayments and accrued income	84,769	54,820
	97,463	71,842

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BAPCO (TRADING) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2023

5.	Cash and cash equivalents
		2023	2022
		£	£

Cash at bank and in hand	173,151	419,934
	173,151	419,934

6.	Creditors: Amounts falling due within one year
		2023	2022
		£	£

Trade creditors	583	7
Amounts owed to group undertakings	29,515	414,985
Corporation tax	69	-
Other taxation and social security	21,604	42,911
Other creditors	-	4,200
Accruals and deferred income	19,639	29,672
	71,410	491,775

7.	Financial instruments
		2023	2022
		£	£

	Financial assets
	Financial assets measured at fair value through profit or loss	173,151	419,934

Financial assets measured at fair value through profit or loss comprise bank and cash balances.

8.	Related party transactions
	In the year a donation of £nil (2022: £362,434) and intercompany recharges of £28,844 (2022: £20,983) were paid to BAPCO Limited, a charitable company which owns 100% of the share capital of the Company.

9.	Controlling party

The controlling party is BAPCO Limited, a charitable company, which owns 100% of the issued share capital of the Company. The registered office of the parent, and principal place of business is Unit 14, The Stottie Shed, Baker's Yard, Christon Road, Gosforth, Newcastle upon Tyne, NE3 1XD.

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BAPCO (TRADING) LIMITED