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COMPANY REGISTRATION NUMBER: 13219104
BOLIVAR MEDIA HOUSE LTD
Filleted Unaudited Financial Statements
28 February 2023
BOLIVAR MEDIA HOUSE LTD
Statement of Financial Position
28 February 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
4
53,196
Current assets
Debtors
5
33,500
130
Cash at bank and in hand
1,916
267
--------
----
35,416
397
Creditors: amounts falling due within one year
6
193,044
4,020
---------
-------
Net current liabilities
157,628
3,623
---------
-------
Total assets less current liabilities
( 104,432)
( 3,623)
---------
-------
Net liabilities
( 104,432)
( 3,623)
---------
-------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 104,532)
( 3,723)
---------
-------
Shareholders deficit
( 104,432)
( 3,623)
---------
-------
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.
For the year ending 28 February 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 his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
BOLIVAR MEDIA HOUSE LTD
Statement of Financial Position (continued)
28 February 2023
These financial statements were approved by the board of directors and authorised for issue on 28 November 2023 , and are signed on behalf of the board by:
Mr M. Alhalabi
Director
Company registration number: 13219104
BOLIVAR MEDIA HOUSE LTD
Notes to the Financial Statements
Year ended 28 February 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 47-49 Park Royal Road, London, NW10 7LQ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.
Going concern
These financial statements have been prepared on a going concern basis subject to the continued support of the company's directors and bankers
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% straight line
Fixtures and fittings
-
25% straight line
4. Tangible assets
Plant and machinery
Fixtures and fittings
Total
£
£
£
Cost
At 1 March 2022
Additions
60,710
10,218
70,928
--------
--------
--------
At 28 February 2023
60,710
10,218
70,928
--------
--------
--------
Depreciation
At 1 March 2022
Charge for the year
15,177
2,555
17,732
--------
--------
--------
At 28 February 2023
15,177
2,555
17,732
--------
--------
--------
Carrying amount
At 28 February 2023
45,533
7,663
53,196
--------
--------
--------
At 28 February 2022
--------
--------
--------
5. Debtors
2023
2022
£
£
Other debtors
33,500
130
--------
----
6. Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
193,044
4,020
---------
-------