Registered number
08492901
Half Bad Books Limited
Unaudited Filleted Accounts
28 February 2023
Half Bad Books Limited
Registered number: 08492901
Balance Sheet
As at 28 February 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 1 1
Tangible assets 4 1,119 146
1,120 147
Current assets
Cash at bank and in hand 421,115 355,051
Creditors: amounts falling due within one year 5 (42,840) (20,802)
Net current assets 378,275 334,249
Net assets 379,395 334,396
Capital and reserves
Called up share capital 1 1
Profit and loss account 379,394 334,395
Shareholder's funds 379,395 334,396
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Sally Green
Director
Approved by the board on 13 October 2023
Half Bad Books Limited
Notes to the Accounts
for the year ended 28 February 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Intangible fixed assets £
Film and Book Rights
Cost
At 1 March 2022 1
At 28 February 2023 1
Amortisation
At 28 February 2023 -
Net book value
At 28 February 2023 1
At 28 February 2022 1
Film and book rights have been classified in intangible fixed assets.
4 Tangible fixed assets Office Equipment
£
Cost
At 1 March 2022 10,926
Additions 1,233
At 28 February 2023 12,159
Depreciation
At 1 March 2022 10,780
Charge for the year 260
At 28 February 2023 11,040
Net book value
At 28 February 2023 1,119
At 28 February 2022 146
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 2 -
Corporation tax 18,544 14,989
Other taxes and social security costs 20,368 2,816
Other creditors 3,926 2,997
42,840 20,802
6 Loans from director
B/fwd Paid Repaid C/fwd
£ £ £ £
Sally Green 1,597 779 - 2,376
Included within other creditors is an amount of £2,376 (2022 - £1,597) which is owed by the company to Sally Green, the director and sole shareholder of the company. The loan is interest-free and repayable on demand.
7 Controlling party
The company is controlled by Sally Green as sole director and shareholder.
8 Other information
Half Bad Books Limited is a private company limited by shares and incorporated in England. Its registered office is:
c/o Forbes Dawson Ltd
Fairbank House
Ashley Road
Altrincham
WA14 2DP
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