Registered number: SC687839 | ||||||||
FOR THE YEAR ENDED 30 JUNE 2023 | ||||||||
Prepared By: | ||||||||
Cunningham Grant | ||||||||
Chartered Accountants | ||||||||
Unit G6, The Granary Business Centre | ||||||||
Coal Road, Cupar | ||||||||
Fife | ||||||||
KY15 5YQ |
B2B Holdings Ltd | ||||||||
FINANCIAL STATEMENTS | ||||||||
FOR THE YEAR ENDED 30 JUNE 2023 | ||||||||
DIRECTORS | ||||||||
REGISTERED OFFICE | ||||||||
Fife | ||||||||
COMPANY DETAILS | ||||||||
Private company limited by shares registered in SC - Scotland, registered number SC687839 | ||||||||
ACCOUNTANTS | ||||||||
Cunningham Grant | ||||||||
Chartered Accountants | ||||||||
Unit G6, The Granary Business Centre | ||||||||
Coal Road, Cupar | ||||||||
Fife | ||||||||
KY15 5YQ |
B2B Holdings Ltd | ||||||||
FINANCIAL STATEMENTS | ||||||||
FOR THEYEARENDED30 JUNE 2023 | ||||||||
CONTENTS | ||||||||
Page | ||||||||
Directors' Report | - | |||||||
Accountants' Report | - | |||||||
Statement Of Comprehensive Income | - | |||||||
Balance Sheet | 3 | |||||||
Notes To The Accounts | 4 | |||||||
The following do not form part of the statutory financial statements: | ||||||||
Trading And Profit And Loss Account | - | |||||||
Profit And Loss Account Summaries | - |
B2B Holdings Ltd | ||||||||
BALANCE SHEET AT | ||||||||||
2023 | 2022 | |||||||||
Notes | £ | £ | ||||||||
FIXED ASSETS | ||||||||||
Tangible assets | ||||||||||
CURRENT ASSETS | ||||||||||
Cash at bank and in hand | ||||||||||
41,471 | 11,471 | |||||||||
CREDITORS: Amounts falling due within one year | 4 | |||||||||
NET CURRENT LIABILITIES | ( | (182,122) | ||||||||
TOTAL ASSETS LESS CURRENT LIABILITIES | ||||||||||
PROVISIONS FOR LIABILITIES AND CHARGES | ||||||||||
NET ASSETS | ||||||||||
CAPITAL AND RESERVES | ||||||||||
Other reserves | 158,043 | 118,036 | ||||||||
Profit and loss account | 61,901 | 32,154 | ||||||||
SHAREHOLDERS' FUNDS | ||||||||||
Approved by the board on | ||||||||||
............................. | ||||||||||
Director | ||||||||||
B2B Holdings Ltd | ||||||||
NOTES TO THE ACCOUNTS | ||||||||||
FOR THE YEAR ENDED 30 JUNE 2023 | ||||||||||
1. ACCOUNTING POLICIES |
1a. General Information & Basis of Accounting | ||||||||
The company is limited by shares and incorporated in Scotland. The address of the registered office is given in the company information on page 1 of these financial statements. | ||||||||
The financial statements have been prepared in accordance with Financial Reporting Standard FRS 102 including Section 1A Small Entities, the Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. There were no material departures from that standard. | ||||||||
The financial statements are presented in sterling which is the functional currency of the company and are rounded to the nearest £1. 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 shown. |
1b. Turnover | ||||||||
Turnover represents rental income from investment property in the year. |
1c. Investment Properties | ||||||||
Investment properties, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting end date. Changes in fair value recognised in profit or loss. |
1d. Cash And Cash Equivalents | ||||||||
Cash and cash equivalents are basic financial instruments which include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. |
1e. Financial Instruments | ||||||||
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. | ||||||||
Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. | ||||||||
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. |
B2B Holdings Ltd | ||||||||
1f. Taxation | ||||||||
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reportingperiods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted orsubstantively enacted by the balance sheet date. | ||||||||
Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current andprevious periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differencesbetween taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of incomeand expense in tax assessments in periods different from those in which they are recognised in the financial statements. Unrelieved taxlosses and other deferred tax assets are recognised only to the extent it is probable that they will be recovered against the reversal ofdeferred tax liabilities or other future taxable profits. | ||||||||
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date thatare expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets andinvestment properties is measured using the rates and allowances that apply to the sale of the asset. |
1g. Critical Accounting Estimates And Judgements | ||||||||
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. | ||||||||
The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. | ||||||||
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period, or in the period of the revision and future periods where the revision affects both current and future periods. |
2. EMPLOYEES | ||||||
2023 | 2022 | |||||
No. | No. | |||||
Average number of employees | - | |||||
3. INVESTMENT PROPERTIES | ||||||||
Investment | ||||||||
Properties | Total | |||||||
£ | £ | |||||||
Fair value | ||||||||
At 1 July 2022 | 360,000 | 360,000 | ||||||
Revaluation | 65,000 | 65,000 | ||||||
At 30 June 2023 | 425,000 | 425,000 | ||||||
The investment properties were valued at fair value by the directors at 30 June 2023. | ||||||||
B2B Holdings Ltd | ||||||||
4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
2023 | 2022 | |||||||
£ | £ | |||||||
Bank loans and overdrafts | ||||||||
Taxation and social security | 7,257 | 7,587 | ||||||
Other creditors | 7,317 | 6,734 | ||||||
193,846 | 193,593 | |||||||
5. RELATED PARTY TRANSACTIONS | |||||||||||||||||||||||||||||||||||||
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