REGISTERED NUMBER: |
B & T REWINDS (HOLDINGS) LIMITED |
Unaudited Financial Statements for the Year Ended 31 May 2023 |
REGISTERED NUMBER: |
B & T REWINDS (HOLDINGS) LIMITED |
Unaudited Financial Statements for the Year Ended 31 May 2023 |
B & T REWINDS (HOLDINGS) LIMITED (REGISTERED NUMBER: 05165838) |
Contents of the Financial Statements |
for the year ended 31 May 2023 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 | to | 5 |
B & T REWINDS (HOLDINGS) LIMITED |
Company Information |
for the year ended 31 May 2023 |
Directors: |
Registered office: |
Registered number: |
Accountants: |
5-6 Greenfield Crescent |
Edgbaston |
Birmingham |
West Midlands |
B15 3BE |
Bankers: |
P O Box 9 |
Dudley |
West Midlands |
DY1 1PP |
B & T REWINDS (HOLDINGS) LIMITED (REGISTERED NUMBER: 05165838) |
Statement of Financial Position |
31 May 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
Fixed assets |
Investments | 4 |
Current assets |
Debtors | 5 |
Cash at bank |
Creditors |
Amounts falling due within one year | 6 |
Net current assets |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
Accruals and deferred income | 8 | ( |
) | ( |
) |
Net assets |
Capital and reserves |
Called up share capital | 9 |
Retained earnings |
Shareholders' funds |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
B & T REWINDS (HOLDINGS) LIMITED (REGISTERED NUMBER: 05165838) |
Notes to the Financial Statements |
for the year ended 31 May 2023 |
1. | Statutory information |
B & T Rewinds (Holdings) Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page. |
2. | Accounting policies |
Basis of preparing the financial statements |
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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. |
Consolidation |
In the opinion of the directors, the company and its subsidiary undertakings comprise a small group. The company has therefore taken advantage of the exemption provided by Section 398 of the Companies Act 2006 not to prepare group accounts. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Government grants |
Grants are credited to deferred revenue. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred. |
Financial instruments |
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. |
Debtors and creditors receivable / payable within one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
3. | Employees and directors |
The average number of employees during the year was NIL (2022 - NIL). |
B & T REWINDS (HOLDINGS) LIMITED (REGISTERED NUMBER: 05165838) |
Notes to the Financial Statements - continued |
for the year ended 31 May 2023 |
4. | Fixed asset investments |
Shares in |
group |
undertakings |
£ |
Cost |
At 1 June 2022 |
and 31 May 2023 |
Net book value |
At 31 May 2023 |
At 31 May 2022 |
The company's investments at the Statement of Financial Position date in the share capital of companies include the following: |
Registered office: 134 Brearley Street, Hockley, Birmingham, West Midlands, B19 3XJ |
Nature of business: |
% |
Class of shares: | holding |
5. | Debtors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Amounts owed by group undertakings |
Other debtors |
6. | Creditors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Amounts owed to group undertakings |
Tax |
Directors' loan accounts | 11,100 | 11,100 |
Accruals and deferred income |
7. | Creditors: amounts falling due after more than one year |
2023 | 2022 |
£ | £ |
Directors' loan accounts | 77,315 | 90,701 |
8. | Accruals and deferred income |
2023 | 2022 |
£ | £ |
Deferred government grants | 27,153 | 28,614 |
B & T REWINDS (HOLDINGS) LIMITED (REGISTERED NUMBER: 05165838) |
Notes to the Financial Statements - continued |
for the year ended 31 May 2023 |
9. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1 | 3,000 | 3,000 |
10. | Related party transactions |
The company and its subsidiary undertaking, B & T Rewinds Limited, are both ultimately controlled by Mr D Phelps, a director. |
Included in creditors (2022: debtors) is a balance of £10,348 (2022: £15,038) due from B & T Rewinds Limited and a balance of £122,513 (2022: £116,513) due from B & T Rewinds (Holdings) 2011 Limited. |
Included in creditors is a balance of £88,415 (2022: £101,801) owed to Mr B Phelps. £11,100 is shown as falling due within one year with the balance falling due after more than one year. No interest is charged on the loan. |
11. | Ultimate parent company |
The ultimate parent company is B & T Rewinds (Holdings) 2011 Limited, a company also incorporated in England & Wales. |