Registration number:
Prepared for the registrar
for the
Year Ended 31 December 2023
Bill Allen (Cheltenham) Limited
(Registration number: 00524499)
Balance Sheet as at 31 December 2023
Note |
2023 |
(As restated) |
|
Fixed assets |
|||
Tangible assets |
- |
|
|
Investment property |
|
|
|
Investments |
|
|
|
|
|
||
Current assets |
|||
Stocks |
- |
|
|
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current assets |
|
|
|
Total assets less current liabilities |
|
|
|
Creditors: Amounts falling due after more than one year |
( |
( |
|
Deferred tax liabilities |
(79,562) |
- |
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
155,439 |
155,439 |
|
Capital redemption reserve |
303 |
303 |
|
Revaluation reserve |
1,111,535 |
1,191,097 |
|
Profit and loss account |
4,183,792 |
4,407,993 |
|
Shareholders' funds |
5,451,069 |
5,754,832 |
For the financial year ending 31 December 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 director acknowledges her 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.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Bill Allen (Cheltenham) Limited
(Registration number: 00524499)
Balance Sheet as at 31 December 2023
Approved and authorised by the
Director
Bill Allen (Cheltenham) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
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 for, where disclosed in these accounting policies, certain items that are shown at fair value.
The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods, provision of services and rental income in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax and returns.
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 only. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current corporation 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.
Tangible assets
Tangible assets are stated in the statement of financial position 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.
Bill Allen (Cheltenham) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
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 |
Plant and machinery |
10% of written down value per annum |
Investment property
Investments
Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Dividends on equity securities are recognised in income when receivable.
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.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out method.
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 all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.
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.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Bill Allen (Cheltenham) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
Financial instruments
Classification
Recognition and measurement
Impairment
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Tangible assets |
Furniture, fittings and equipment |
Motor vehicles |
Total |
|
Cost or valuation |
|||
At 1 January 2023 |
|
|
|
Disposals |
( |
( |
( |
At 31 December 2023 |
- |
|
|
Depreciation |
|||
At 1 January 2023 |
|
|
|
Charge for the year |
|
|
|
Eliminated on disposal |
( |
( |
( |
At 31 December 2023 |
- |
|
|
Carrying amount |
|||
At 31 December 2023 |
- |
- |
- |
At 31 December 2022 |
|
|
|
Investment properties |
£ |
|
At 1 January 2023 and 31 December 2023 |
|
The directors have assessed the value of the investment properties and consider that the current valuation is appropriate. The investment property has a historic cost of £358,902 (2022 - £358,902).
Bill Allen (Cheltenham) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
Investments |
2023 |
2022 |
|
Investments in subsidiaries |
|
|
Investments in associates |
|
|
|
|
Details of undertakings
Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
Undertaking |
Holding |
Proportion of voting rights and shares held |
||
2023 |
2022 |
|||
|
Ordinary |
|
|
|
|
Ordinary |
|
|
|
Subsidiary undertakings |
Yukantakitwithya Inc The principal activity of Yukantakitwithya Inc is |
SCI DeRochefort The principal activity of SCI DeRochefort is |
Stocks |
2023 |
2022 |
|
Stock for resale |
- |
|
Debtors |
Note |
2023 |
2022 |
|
Amounts owed by related parties |
|
|
|
Other debtors |
|
|
|
2,487,929 |
2,349,422 |
Bill Allen (Cheltenham) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
Creditors |
Note |
2023 |
(As restated) |
|
Due within one year |
|||
Loans and borrowings |
|
|
|
Trade creditors |
|
- |
|
Social security and other taxes |
|
|
|
Other creditors |
|
|
|
Accrued expenses |
|
|
|
|
|
||
Due after one year |
|||
Loans and borrowings |
|
|
Loans and borrowings |
2023 |
2022 |
|
Current loans and borrowings |
||
Bank borrowings |
|
|
HP and finance lease liabilities |
- |
|
|
|
2023 |
2022 |
|
Non-current loans and borrowings |
||
Bank borrowings |
|
|
Bank borrowings
|
Bill Allen (Cheltenham) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
Related party transactions |
Summary of transactions with other related parties
At 31 December 2023, the company was owed £1,187,742 (2022: £1,167,570) from Yukantakitwithya Inc, a company that is 50% owned by Bill Allen (Cheltenham) Limited.
At 31 December 2023, the company was owed £149,277 (2022: £149,277) from SCI DeRochefort, a company that is 99.95% owned by Bill Allen (Cheltenham) Limited.
At 31 December 2023, the company owed £644,083 (2022: £5,917 owed from) to the WSA Pension Fund, a fund for which the main beneficiary is W S Allen.
At 31 December 2023, the company owed £59,174 (2022: £nil) to the directors in the form of a directors loan account. The loan is unsecured, interest-free and repayable on demand.