Silverfin false 31/03/2023 11/04/2022 31/03/2023 R Thorne 11/04/2022 C Scott 11/04/2022 02 October 2023 The principal activities of the company are that of a holding company. 14039048 2023-03-31 14039048 bus:Director1 2023-03-31 14039048 bus:Director2 2023-03-31 14039048 core:CurrentFinancialInstruments 2023-03-31 14039048 core:ShareCapital 2023-03-31 14039048 core:RetainedEarningsAccumulatedLosses 2023-03-31 14039048 core:AdditionsToInvestments 2023-03-31 14039048 core:CostValuation 2023-03-31 14039048 bus:OrdinaryShareClass1 2023-03-31 14039048 2022-04-11 2023-03-31 14039048 bus:FullAccounts 2022-04-11 2023-03-31 14039048 bus:SmallEntities 2022-04-11 2023-03-31 14039048 bus:AuditExemptWithAccountantsReport 2022-04-11 2023-03-31 14039048 bus:PrivateLimitedCompanyLtd 2022-04-11 2023-03-31 14039048 bus:Director1 2022-04-11 2023-03-31 14039048 bus:Director2 2022-04-11 2023-03-31 14039048 core:Subsidiary1 2022-04-11 2023-03-31 14039048 core:Subsidiary1 1 2022-04-11 2023-03-31 14039048 bus:OrdinaryShareClass1 2022-04-11 2023-03-31 iso4217:GBP xbrli:pure decimalUnit xbrli:shares

Company No: 14039048 (England and Wales)

BOB'S BITS HOLDINGS LTD

Unaudited Financial Statements
For the financial period from 11 April 2022 to 31 March 2023
Pages for filing with the registrar

BOB'S BITS HOLDINGS LTD

Unaudited Financial Statements

For the financial period from 11 April 2022 to 31 March 2023

Contents

BOB'S BITS HOLDINGS LTD

STATEMENT OF FINANCIAL POSITION

As at 31 March 2023
BOB'S BITS HOLDINGS LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2023
Note 31.03.2023
£
Fixed assets
Investments 3 100
100
Current assets
Cash at bank and in hand 511,428
511,428
Creditors: amounts falling due within one year 4 ( 1,146)
Net current assets 510,282
Total assets less current liabilities 510,382
Net assets 510,382
Capital and reserves
Called-up share capital 5 100
Profit and loss account 510,282
Total shareholder's funds 510,382

For the financial period ending 31 March 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Bob's Bits Holdings Ltd (registered number: 14039048) were approved and authorised for issue by the Director. They were signed on its behalf by:

R Thorne
Director

02 October 2023

BOB'S BITS HOLDINGS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 11 April 2022 to 31 March 2023
BOB'S BITS HOLDINGS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 11 April 2022 to 31 March 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

Bob's Bits Holdings Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 2 Garnett Close, Greycaine Industrial Estate, Watford, WD24 7GN, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Fixed asset investments

Investments in subsidiaries are measured at cost less impairment.

Cash and cash equivalents

Cash and cash equivalents 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 creditors: amounts falling due within one year.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like other debtors and creditors, loans to and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, 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.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, 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 receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and 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.

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.

2. Employees

Period from
11.04.2022 to
31.03.2023
Number
Monthly average number of persons employed by the Company during the period, including directors 2

3. Fixed asset investments

Investments in subsidiaries

31.03.2023
£
Cost
At 11 April 2022 0
Additions 100
At 31 March 2023 100
Carrying value at 31 March 2023 100

Investments in shares

Name of entity Registered office Nature of business Class of
shares
Ownership
31.03.2023
Bob's Bits Ltd Unit 2 Garnett Close, Watford, WD24 7GN Hire and supply of props to the film and video production industries Ordinary 100.00%

4. Creditors: amounts falling due within one year

31.03.2023
£
Accruals 1,080
Corporation tax 66
1,146

5. Called-up share capital

31.03.2023
£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100