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REGISTERED NUMBER: 10868537 (England and Wales)














Financial Statements

for the Year Ended 31 July 2024

for

Baltic Broadband Limited

Baltic Broadband Limited (Registered number: 10868537)

Contents of the Financial Statements
for the Year Ended 31 July 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Baltic Broadband Limited

Company Information
for the Year Ended 31 July 2024







DIRECTOR: Prof M J Wilson





SECRETARY: Miss S L Keating





REGISTERED OFFICE: 15 Gibraltar Row
King Edward Industrial Estate
Liverpool
Merseyside
L3 7HJ





REGISTERED NUMBER: 10868537 (England and Wales)





ACCOUNTANTS: SB&P
Chartered Accountants
Oriel House
2-8 Oriel Road
Bootle
Liverpool
Merseyside
L20 7EP

Baltic Broadband Limited (Registered number: 10868537)

Balance Sheet
31 July 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 582,863 -
Tangible assets 5 220,392 212,002
803,255 212,002

CURRENT ASSETS
Debtors 6 177,228 67,685
Cash at bank and in hand 459,456 242,122
636,684 309,807
CREDITORS
Amounts falling due within one year 7 216,875 135,571
NET CURRENT ASSETS 419,809 174,236
TOTAL ASSETS LESS CURRENT LIABILITIES 1,223,064 386,238

PROVISIONS FOR LIABILITIES 200,814 -
NET ASSETS 1,022,250 386,238

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 8 437,147 -
Retained earnings 585,003 386,138
1,022,250 386,238

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Baltic Broadband Limited (Registered number: 10868537)

Balance Sheet - continued
31 July 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 14 January 2025 and were signed by:





Prof M J Wilson - Director


Baltic Broadband Limited (Registered number: 10868537)

Notes to the Financial Statements
for the Year Ended 31 July 2024


1. STATUTORY INFORMATION

Baltic Broadband Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences have been fully amortised in the current year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Taxation
Taxation for the year 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 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.

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 tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Baltic Broadband Limited (Registered number: 10868537)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST OR VALUATION
Revaluations 582,863
At 31 July 2024 582,863
NET BOOK VALUE
At 31 July 2024 582,863

Cost or valuation at 31 July 2024 is represented by:

Other
intangible
assets
£   
Valuation in 2024 582,863

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2023 384,316
Additions 70,779
At 31 July 2024 455,095
DEPRECIATION
At 1 August 2023 172,314
Charge for year 62,389
At 31 July 2024 234,703
NET BOOK VALUE
At 31 July 2024 220,392
At 31 July 2023 212,002

Baltic Broadband Limited (Registered number: 10868537)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 136,908 36,612
Amounts owed by group undertakings 3,715 -
Other debtors 36,605 31,073
177,228 67,685

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans and overdrafts - 706
Trade creditors 38,313 38,652
Taxation and social security 169,431 90,888
Other creditors 9,131 5,325
216,875 135,571

8. RESERVES
Fair
value
reserve
£   
Revaluation reserve 437,147

At 31 July 2024 437,147

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 July 2024 and 31 July 2023:

31.7.24 31.7.23
£    £   
Prof M J Wilson
Balance outstanding at start of year 510 -
Amounts advanced 373,000 510
Amounts repaid (378,646 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (5,136 ) 510