BBX Digital Holdings Limited
Unaudited Financial Statements
For the year ended 31 December 2022
Pages for Filing with Registrar
Company Registration No. 09168141 (England and Wales)
BBX Digital Holdings Limited
Company Information
Director
C White
Secretary
S Mason
Company number
09168141
Registered office
Charlotte Building
17 Gresse Street
London
W1T 1QL
Accountants
Moore Kingston Smith LLP
Charlotte Building
17 Gresse Street
London
W1T 1QL
BBX Digital Holdings Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 4
BBX Digital Holdings Limited
Balance Sheet
As at 31 December 2022
Page 1
2022
2021
Notes
£
£
£
£
Fixed assets
Investments
3
2
2
Current assets
Debtors
5
39
76,291
Cash at bank and in hand
1,121
2,143
1,160
78,434
Creditors: amounts falling due within one year
6
(596)
(596)
Net current assets
564
77,838
Net assets
566
77,840
Capital and reserves
Called up share capital
7
41
41
Profit and loss reserves
525
77,799
Total equity
566
77,840
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 December 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 members have 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 29 September 2023
C White
Director
Company Registration No. 09168141
BBX Digital Holdings Limited
Notes to the Financial Statements
For the year ended 31 December 2022
Page 2
1
Accounting policies
Company information
BBX Digital Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is 6th Floor, Charlotte Building, 17 Gresse Street, London, W1T 1QL.
1.1
Accounting convention
These financial statements have been prepared in accordance with Section 1A of 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 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 £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
These financial statements are prepared on the going concern basis. The directors believe that the company willtrue have sufficient funds to settle all of it's liabilities as they fall due for at least 12 months from signing the financial statements.
1.3
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.
1.4
Cash and cash equivalents
Cash at bank and in hand 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.
1.5
Financial instruments
The company has only basic financial instruments measured at amortised cost, with no financial instruments classified as other or basic instruments measured at fair value.
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
BBX Digital Holdings Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2022
1
Accounting policies
(Continued)
Page 3
1.7
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
1.8
The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise of a small-size group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.
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
3
Fixed asset investments
2022
2021
£
£
Shares in group undertakings and participating interests
2
2
4
Subsidiaries
These financial statements are separate company financial statements for BBX Digital Holdings Limited.
Details of the company's subsidiaries at 31 December 2022 are as follows:
Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Brainbox Digital Limited
Charlotte Building, 17 Gresse Street, London, W1T 1QL
Ordinary
100.00
BBX Digital Holdings Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2022
Page 4
5
Debtors
2022
2021
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
76,252
Other debtors
39
39
39
76,291
6
Creditors: amounts falling due within one year
2022
2021
£
£
Other creditors
596
596
7
Called up share capital
2022
2021
2022
2021
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A Shares of 1p each
3,847
3,847
39
39
Ordinary B Shares of 1p each
203
203
2
2
4,050
4,050
41
41
The Ordinary A and Ordinary B shares both hold full voting, dividend and capital distribution rights (including on winding up), and do not confer any rights of redemption.
8
Related party transactions
No guarantees have been given or received.
The company has taken advantage of the exemption available in FRS 102 Paragraph 33.1A whereby it has not disclosed transactions with any wholly owned subsidiary undertaking.
At the year end, the company owed £596 (2021: £596) to it's director.
9
Controlling party
The ultimate controlling party is Carl White by virtue of his majority shareholding.