Bold Change Limited 07437888 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is business and management consultancy, moneylending and related administration and micro electricity generation. Digita Accounts Production Advanced 6.30.9574.0 true true 07437888 2022-04-01 2023-03-31 07437888 2023-03-31 07437888 core:RetainedEarningsAccumulatedLosses 2023-03-31 07437888 core:ShareCapital 2023-03-31 07437888 core:FinancialAssetsCostLessImpairment core:Non-currentFinancialInstruments 2023-03-31 07437888 core:FinancialAssetsDesignatedFairValueThroughProfitOrLoss core:Non-currentFinancialInstruments 2023-03-31 07437888 core:CurrentFinancialInstruments 2023-03-31 07437888 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 07437888 core:AdditionsToInvestments 2023-03-31 07437888 core:FurnitureFittings 2023-03-31 07437888 core:OfficeEquipment 2023-03-31 07437888 bus:SmallEntities 2022-04-01 2023-03-31 07437888 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 07437888 bus:FullAccounts 2022-04-01 2023-03-31 07437888 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 07437888 bus:RegisteredOffice 2022-04-01 2023-03-31 07437888 bus:Director1 2022-04-01 2023-03-31 07437888 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 07437888 core:FurnitureFittings 2022-04-01 2023-03-31 07437888 core:OfficeEquipment 2022-04-01 2023-03-31 07437888 core:KeyManagementPersonnel 2022-04-01 2023-03-31 07437888 countries:EnglandWales 2022-04-01 2023-03-31 07437888 2022-03-31 07437888 core:CostValuation 2022-03-31 07437888 core:FurnitureFittings 2022-03-31 07437888 core:OfficeEquipment 2022-03-31 07437888 2021-04-01 2022-03-31 07437888 2022-03-31 07437888 core:RetainedEarningsAccumulatedLosses 2022-03-31 07437888 core:ShareCapital 2022-03-31 07437888 core:FinancialAssetsCostLessImpairment core:Non-currentFinancialInstruments 2022-03-31 07437888 core:FinancialAssetsDesignatedFairValueThroughProfitOrLoss core:Non-currentFinancialInstruments 2022-03-31 07437888 core:CurrentFinancialInstruments 2022-03-31 07437888 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 07437888 core:FurnitureFittings 2022-03-31 07437888 core:OfficeEquipment 2022-03-31 iso4217:GBP xbrli:pure

Registration number: 07437888

Bold Change Limited

Filleted Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2023

 

Bold Change Limited

Contents

Company Information

1

Statement of Financial Position

2

Notes to the Unaudited Financial Statements

3 to 8

 

Bold Change Limited

Company Information

Director

P J Rippon

Registered office

Turpins Hill Farmhouse
Heddon-On-The-Wall
Newcastle upon Tyne
England
NE15 0JX

Accountants

Azets
Bulman House
Regent Centre
Gosforth
Newcastle upon Tyne
NE3 3LS

 

Bold Change Limited

(Registration number: 07437888)
Statement of Financial Position as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

25,605

27,483

Investments

5

240

40

Other financial assets

6

1,137,356

545,536

 

1,163,201

573,059

Current assets

 

Debtors

7

140,000

197,778

Cash at bank and in hand

 

6,798

124,649

 

146,798

322,427

Creditors: Amounts falling due within one year

8

(982,437)

(670,763)

Net current liabilities

 

(835,639)

(348,336)

Total assets less current liabilities

 

327,562

224,723

Provisions for liabilities

(6,401)

(6,871)

Net assets

 

321,161

217,852

Capital and reserves

 

Called up share capital

2

2

Profit and loss account

321,159

217,850

Total equity

 

321,161

217,852

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

Director's responsibilities:

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; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Income Statement.

Approved and authorised for issue by the director on 23 October 2023

.........................................
P J Rippon
Director

 

Bold Change Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is Turpins Hill Farmhouse, Heddon-On-The-Wall, Newcastle upon Tyne, England, NE15 0JX.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared on the historical cost basis.The financial statements are prepared in sterling, which is the functional currency of the entity.

These financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis. The company meets its day to day working capital requirements through cash generated from operations and shareholder borrowings. The company’s forecasts and projections for the next twelve months show that the company should be able to continue in operational existence for that period, taking into account reasonable possible changes in trading performance.

Based on the factors set out above the directors believe that it remains appropriate to prepare the financial statements on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

 

Bold Change Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023 (continued)

2

Accounting policies (continued)

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements. Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

Asset class

Depreciation method and rate

 

Fixtures and fittings

4% straight line

 

Equipment

33% straight line

Investments

Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment. Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Other financial assets are held as long term investments and are measured at cost less impairment.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Bold Change Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023 (continued)

2

Accounting policies (continued)

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Tangible assets

Fixtures and fittings
£

Equipment
£

Total
£

Cost or valuation

At 1 April 2022

46,951

3,891

50,842

At 31 March 2023

46,951

3,891

50,842

Depreciation

At 1 April 2022

19,468

3,891

23,359

Charge for the year

1,878

-

1,878

At 31 March 2023

21,346

3,891

25,237

Carrying amount

At 31 March 2023

25,605

-

25,605

At 31 March 2022

27,483

-

27,483

 

Bold Change Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023 (continued)

5

Investments

2023
£

2022
£

Investments

200

-

Investments in associates

40

40

240

40

Investments

£

Cost

Additions

200

Provision

Carrying amount

At 31 March 2023

200

The company owns less than 1% of the issued share capital of Fronted Holding Limited, a company incorporated in England and Wales.




 

Associates

£

Cost

At 1 April 2022

40

Carrying amount

At 31 March 2023

40

At 31 March 2022

40

The company owns 40% of the issued share capital of The Border Mill Limited, a company incorporated in Scotland.

 

Bold Change Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023 (continued)

6

Other financial assets (current and non-current)

Other investments at cost less impairment
£

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost

At 1 April 2022

-

545,536

545,536

Additions

15,660

742,737

758,397

Disposals

-

(166,577)

(166,577)

At 31 March 2023

15,660

1,121,696

1,137,356

Carrying amount

At 31 March 2023

15,660

1,121,696

1,137,356

At 31 March 2022

-

545,536

545,536

Included with other investments are classic tractors held as investments at a cost of £15,660.

The director considers that the carrying value is an accurate reflection of market value at 31 March 2023.

7

Debtors

Note

2023
£

2022
£

Trade debtors

 

-

7,778

Amounts owed by group undertakings

9

140,000

140,000

Other debtors

 

-

50,000

 

140,000

197,778

 

Bold Change Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023 (continued)

8

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Accruals and deferred income

1,972

1,704

Other creditors

40

40

Corporation tax liability

25,303

1,137

Directors loan accounts

955,122

667,882

982,437

670,763

9

Related party transactions

Bold Change Limited is related to The Border Mill Limited by virtue of Bold Change Limited holding shares in The Border Mill Limited. At the year end £140,000 (2021 - £140,000) was outstanding and is shown in debtors.