Company No:
Contents
31.03.2024 | 31.03.2023 | |||
£ | £ | |||
Current assets | ||||
Debtors | 3 |
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Cash at bank and in hand |
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27,372 | 47,041 | |||
Creditors: amounts falling due within one year | 4 | (
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Net current assets/(liabilities) | 18,574 | (30,948) | ||
Total assets less current liabilities | 18,574 | (30,948) | ||
Net assets/(liabilities) |
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Capital and reserves | ||||
Called-up share capital | 5 |
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Share premium account |
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Capital redemption reserve |
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Profit and loss account | (
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Total shareholders' funds/(deficit) |
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Directors' responsibilities:
The financial statements of BCH (Bristol) Ltd. (registered number:
Christian Coe
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.
BCH (Bristol) Ltd. (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 5th Floor Salt Quay House, 4 North East Quay, Sutton Harbour, Plymouth, PL4 0BN, 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 £.
During 2024 the directors made the decision that the Company would cease trading in the next 12 months. As a result the financial statements have been prepared on a basis other than the going concern basis of preparation. The directors have included in the financial statements any provision for future costs of terminating the business, which were committed to at the balance sheet date and where appropriate the Company's assets have been written down to their net realisable value.
The previous financial statements were prepared for a period of 18 months, due to changes in ownership. As a result of this, the comparative amounts presented in the financial statements (including the related notes) are not entirely comparable.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.
Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
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 Statement of Financial Position date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
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.
Year ended 31.03.2024 |
Period from 01.10.2021 to 31.03.2023 |
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Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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31.03.2024 | 31.03.2023 | ||
£ | £ | ||
Amounts owed by directors |
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Accrued income |
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VAT recoverable |
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Other taxation and social security |
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Other debtors |
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31.03.2024 | 31.03.2023 | ||
£ | £ | ||
Trade creditors |
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Accruals |
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Taxation and social security |
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Other creditors |
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31.03.2024 | 31.03.2023 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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80 | 80 |
Transactions with owners holding a participating interest in the entity
31.03.2024 | 31.03.2023 | ||
£ | £ | ||
Purchases made from owners holding a participating interest in the entity | 28,000 | 12,694 |
The transactions were concluded at arms length under market rate conditions.
Transactions with the entity's directors
31.03.2024 | 31.03.2023 | ||
£ | £ | ||
Amounts owed by directors | 20,000 | 0 |
At the year end, the Company was owed £20,000 (2023: £nil) from the Directors. There is no set date for repayment.
Other related party transactions
At the start of the year, £71,227 was owed to a company controlled by two of the Company's former shareholder directors. During the year, £17,812 was repaid, and the remaining balance of £53,415 was written off.