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Company No: 03439596 (England and Wales)

BCH (BRISTOL) LTD.

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

BCH (BRISTOL) LTD.

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

BCH (BRISTOL) LTD.

STATEMENT OF FINANCIAL POSITION

As at 31 March 2024
BCH (BRISTOL) LTD.

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2024
31.03.2024 31.03.2023
£ £
Current assets
Debtors 3 20,434 24,793
Cash at bank and in hand 6,938 22,248
27,372 47,041
Creditors: amounts falling due within one year 4 ( 8,798) ( 77,989)
Net current assets/(liabilities) 18,574 (30,948)
Total assets less current liabilities 18,574 (30,948)
Net assets/(liabilities) 18,574 ( 30,948)
Capital and reserves
Called-up share capital 5 80 80
Share premium account 32,980 32,980
Capital redemption reserve 15 15
Profit and loss account ( 14,501 ) ( 64,023 )
Total shareholders' funds/(deficit) 18,574 ( 30,948)

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of BCH (Bristol) Ltd. (registered number: 03439596) were approved and authorised for issue by the Board of Directors on 05 August 2024. They were signed on its behalf by:

Christian Coe
Director
BCH (BRISTOL) LTD.

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
BCH (BRISTOL) LTD.

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

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.

General information and basis of accounting

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 £.

Going concern

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.

Reporting period length

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

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Finance costs

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.

Taxation

Current tax
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.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and 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 creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

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.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

Year ended
31.03.2024
Period from
01.10.2021 to
31.03.2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 3

3. Debtors

31.03.2024 31.03.2023
£ £
Amounts owed by directors 20,000 0
Accrued income 0 6,900
VAT recoverable 434 0
Other taxation and social security 0 17,858
Other debtors 0 35
20,434 24,793

4. Creditors: amounts falling due within one year

31.03.2024 31.03.2023
£ £
Trade creditors 393 15
Accruals 3,850 3,864
Taxation and social security 4,555 2,883
Other creditors 0 71,227
8,798 77,989

5. Called-up share capital

31.03.2024 31.03.2023
£ £
Allotted, called-up and fully-paid
15 Ordinary B shares of £ 1.00 each 15 15
55 Ordinary shares of £ 1.00 each 55 55
10 Ordinary C shares of £ 1.00 each 10 10
80 80

6. Related party transactions

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.