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Registration number: 13153948

M Ball & Co Limited

Annual Report and Unaudited Financial Statements

for the Period from 1 January 2022 to 30 June 2023

 

M Ball & Co Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

M Ball & Co Limited

Company Information

Director

Mr Michael Ball

Registered office

The Hemington
Millhouse Business Centre
Station Road
Castle Donington
Derby
DE74 2NJ

 

M Ball & Co Limited

(Registration number: 13153948)
Balance Sheet as at 30 June 2023

Note

2023
£

2021
£

Fixed assets

 

Tangible assets

4

180,606

2,149

Current assets

 

Debtors

5

206,856

315,151

Cash at bank and in hand

 

60,976

82,713

 

267,832

397,864

Creditors: Amounts falling due within one year

6

(117,266)

(240,859)

Net current assets

 

150,566

157,005

Total assets less current liabilities

 

331,172

159,154

Creditors: Amounts falling due after more than one year

6

(39,167)

-

Net assets

 

292,005

159,154

Capital and reserves

 

Called up share capital

7

100

-

Retained earnings

291,905

159,154

Shareholders' funds

 

292,005

159,154

For the financial period ending 30 June 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 accounts for the period 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 accounts.

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.

Approved and authorised by the director on 29 March 2024
 

.........................................
Mr Michael Ball
Director

 

M Ball & Co Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2022 to 30 June 2023

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
The Hemington
Millhouse Business Centre
Station Road
Castle Donington
Derby
DE74 2NJ
England

These financial statements were authorised for issue by the director on 29 March 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

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 using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and 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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change 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.

 

M Ball & Co Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2022 to 30 June 2023

Tangible assets

Tangible assets are stated in the balance sheet 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

Motor vechicle

Straight Line over 3 years

Office equipment

Straight Line over 3 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

M Ball & Co Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2022 to 30 June 2023

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1 (2021 - 1).

 

M Ball & Co Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2022 to 30 June 2023

4

Tangible assets

Fixtures and fittings
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2022

1,353

1,410

-

2,763

Additions

-

-

193,514

193,514

Disposals

(1,353)

-

-

(1,353)

At 30 June 2023

-

1,410

193,514

194,924

Depreciation

At 1 January 2022

301

313

-

614

Charge for the period

-

662

13,343

14,005

Eliminated on disposal

(301)

-

-

(301)

At 30 June 2023

-

975

13,343

14,318

Carrying amount

At 30 June 2023

-

435

180,171

180,606

At 31 December 2021

1,052

1,097

-

2,149

5

Debtors

Current

2023
£

2021
£

Trade debtors

150,461

285,246

Prepayments

507

(95)

Other debtors

55,888

30,000

 

206,856

315,151

 

M Ball & Co Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2022 to 30 June 2023

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2021
£

Due within one year

 

Loans and borrowings

16,962

-

Trade creditors

 

1,122

127,481

Taxation and social security

 

56,323

75,178

Accruals and deferred income

 

20,500

38,200

Other creditors

 

22,359

-

 

117,266

240,859

Creditors: amounts falling due after more than one year

Note

2023
£

2021
£

Due after one year

 

Loans and borrowings

39,167

-

7

Share capital

Allotted, called up and fully paid shares

 

2023

2021

 

No.

£

No.

£

Ordinary share of £1 each

100

100

100

100