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Company registration number: 00933238
Betaorange Limited
Unaudited filleted financial statements
05 April 2023
BETAORANGE LIMITED
STATEMENT OF FINANCIAL POSITION
5 APRIL 2023
2023 2022
Note £ £ £ £
Current assets
Debtors 5 1,239,539 1,239,539
Cash at bank and in hand 1,220 1,293
_______ _______
1,240,759 1,240,832
Creditors: amounts falling due
within one year 6 ( 13,135) ( 12,840)
_______ _______
Net current assets 1,227,624 1,227,992
_______ _______
Total assets less current liabilities 1,227,624 1,227,992
_______ _______
Net assets 1,227,624 1,227,992
_______ _______
Capital and reserves
Called up share capital 30,450 30,450
Share premium account 7 179,739 179,739
Capital redemption reserve 7 32,011 32,011
Profit and loss account 7 985,424 985,792
_______ _______
Shareholders funds 1,227,624 1,227,992
_______ _______
For the year ending 05 April 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;
- The director acknowledges their 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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 13 November 2023 , and are signed on behalf of the board by:
Niall Hobhouse
Director
Company registration number: 00933238
BETAORANGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 5 APRIL 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Shatwell Studios, Shatwelll Lane, Yarlington, Wincanton, BA9 8DL.
Principal activity
The principal activity of the company during the year was that of managing investments.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks and other short-term, highly-liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Debtors
2023 2022
£ £
Other debtors 1,239,539 1,239,539
_______ _______
6. Creditors: amounts falling due within one year
2023 2022
£ £
Accruals and deferred income 648 966
Other creditors 12,487 11,874
_______ _______
13,135 12,840
_______ _______
7. Reserves
Share premium account:This reserve records the amount above the nominal value received for shares sold, less transaction costs.Capital redemption reserve:This reserve records the nominal value of shares repurchased by the company.Profit and loss account:This reserve records retained earnings and accumulated losses.
8. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2023
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
Director ( 11,874) ( 613) ( 12,487)
_______ _______ _______
2022
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
Director ( 10,961) ( 913) ( 11,874)
_______ _______ _______
Directors' loans are repayable on demand and subject to interest on overdrawn balances at the official rate.
9. Related party transactions
During the year the company operated intercompany loan accounts with corporate participators. Loans are interest free and have no fixed repayment date.At 5 April 2023 amounts owed to Betaorange Limited totalled £1,028,811 (2022: £1,028,811)
10. Ultimate parent undertaking
The company is a wholly owned subsidiary of Alanna Properties Limited (Registered Office: 2nd Floor International House, 41 The Parade, St Helier, Jersey JE2 3QQ), which is wholly owned by the Budwin Conn 1975 Settlement. The Trustee of the Budwin Conn 1975 Settlement is Financial Consultants (Jersey) Ltd, who has ultimate control.