Company No:
Contents
31.12.2022 | ||
£ | ||
Current assets | ||
Debtors | 3 |
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350,616 | ||
Creditors: amounts falling due within one year | 4 | (
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Net current assets | 87,592 | |
Total assets less current liabilities | 87,592 | |
Net assets |
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Capital and reserves | ||
Called-up share capital | 5 |
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Profit and loss account |
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Total shareholder's funds |
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Directors' responsibilities:
The financial statements of Believe Protect Limited (registered number:
I Johnson
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.
Believe Protect Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 1st Floor Barclays Bank, Heavens Walk, Doncaster, DN4 5HZ, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The financial statements have been prepared on a going concern basis. The following paragraphs set out the basis of which the directors have reached their conclusion.
The Company has net assets of £87,592 at 31 December 2022.
Certain Fellow Subsidiaries have given assurances to the directors that they have the ability to and will continue to provide financial support to the company to enable it to meet its liabilities as they fall due.
The directors consider, on this basis, it is appropriate to prepare the financial statements on a going concern basis.
The financial statements do not include any adjustments that would result if the financial support was withdrawn.
As this is the first accounting period for the company these financial statements cover from incorporation on the 14 February 2022 to 31 December 2022, a period shorter than 12 months.
Turnover is measured at the fair value of invoices raised in respect of procuration and broker fees, net of discounts and excluding value added tax, and is recognised on the commencement date of the loan.
Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial period. Differences between contributions payable in the financial period and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Period from 14.02.2022 to 31.12.2022 |
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Number | |
Monthly average number of persons employed by the Company during the period, including directors |
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During the period, the company was recharged salary costs by a fellow subsidiary in respect of their services to the company.
31.12.2022 | |
£ | |
Amounts owed by Group undertakings |
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Other debtors |
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31.12.2022 | |
£ | |
Amounts owed to Group undertakings |
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31.12.2022 | |
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Allotted, called-up and fully-paid | |
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There is no overall controlling party of the group.