Company registration number 11028520 (England and Wales)
ANOTHER BAD IDEA LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 SEPTEMBER 2023
PAGES FOR FILING WITH REGISTRAR
ANOTHER BAD IDEA LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
ANOTHER BAD IDEA LIMITED
BALANCE SHEET
AS AT
28 SEPTEMBER 2023
28 September 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
3
1,400
1,600
Tangible assets
4
142,650
156,954
144,050
158,554
Current assets
Stocks
1,250
1,250
Debtors
5
349,102
239,730
Cash at bank and in hand
67,064
62,876
417,416
303,856
Creditors: amounts falling due within one year
6
(596,579)
(429,662)
Net current liabilities
(179,163)
(125,806)
Total assets less current liabilities
(35,113)
32,748
Creditors: amounts falling due after more than one year
7
(76,068)
(77,175)
Net liabilities
(111,181)
(44,427)
Capital and reserves
Called up share capital
8
1
1
Profit and loss reserves
(111,182)
(44,428)
Total equity
(111,181)
(44,427)
ANOTHER BAD IDEA LIMITED
BALANCE SHEET (CONTINUED)
AS AT
28 SEPTEMBER 2023
28 September 2023
- 2 -
For the financial year ended 28 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved and signed by the director and authorised for issue on 26 September 2024
Mr A N Claridge
Director
Company registration number 11028520 (England and Wales)
ANOTHER BAD IDEA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 SEPTEMBER 2023
- 3 -
1
Accounting policies
Company information
Another Bad Idea Limited is a private company limited by shares incorporated in England and Wales. The registered office is 88 Hill Village Road, Sutton Coldfield, England, B75 5BE.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
1.3
Intangible fixed assets other than goodwill
Intangible assets are initially measured at cost. After recognition, intangible assets are measured at cost less any accumulated amortisation and accumulated impairment losses.
Patents and licenses are being amortised evenly over their estimated useful life of ten years.
Patents & licences
10% on cost
1.4
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold improvements
10% on cost
Plant and equipment
10% on cost
Fixtures and fittings
10% on cost
Computers
20% on cost
1.5
Stocks
Stocks are valued at the lower of cost and net realisable , after making due allowance for obsolete and slow moving items.
1.6
Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current tax
Current or deferred taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
ANOTHER BAD IDEA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 SEPTEMBER 2023
1
Accounting policies
(Continued)
- 4 -
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using different tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing differences.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
1.7
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
13
13
3
Intangible fixed assets
Other
£
Cost
At 29 September 2022 and 28 September 2023
2,000
Amortisation and impairment
At 29 September 2022
400
Amortisation charged for the year
200
At 28 September 2023
600
Carrying amount
At 28 September 2023
1,400
At 28 September 2022
1,600
ANOTHER BAD IDEA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 SEPTEMBER 2023
- 5 -
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 29 September 2022
135,227
82,965
218,192
Additions
8,279
8,279
At 28 September 2023
135,227
91,244
226,471
Depreciation and impairment
At 29 September 2022
35,457
25,781
61,238
Depreciation charged in the year
13,523
9,060
22,583
At 28 September 2023
48,980
34,841
83,821
Carrying amount
At 28 September 2023
86,247
56,403
142,650
At 28 September 2022
99,770
57,184
156,954
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
3,600
7,600
Other debtors
345,502
232,130
349,102
239,730
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
289,371
185,660
Taxation and social security
128,139
185,418
Other creditors
179,069
58,584
596,579
429,662
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
76,068
77,175
ANOTHER BAD IDEA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 SEPTEMBER 2023
- 6 -
8
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
1
1
1
1