REGISTERED NUMBER: |
Strategic Report, |
Report of the Directors and |
Audited Financial Statements |
for the Year Ended 31 August 2024 |
for |
BALLICOM LIMITED |
REGISTERED NUMBER: |
Strategic Report, |
Report of the Directors and |
Audited Financial Statements |
for the Year Ended 31 August 2024 |
for |
BALLICOM LIMITED |
BALLICOM LIMITED (REGISTERED NUMBER: 02799428) |
Contents of the Financial Statements |
for the Year Ended 31 August 2024 |
Page |
Company Information | 1 |
Strategic Report | 2 |
Report of the Directors | 3 |
Report of the Independent Auditors | 5 |
Income Statement | 9 |
Other Comprehensive Income | 10 |
Balance Sheet | 11 |
Statement of Changes in Equity | 12 |
Cash Flow Statement | 13 |
Notes to the Cash Flow Statement | 14 |
Notes to the Financial Statements | 15 |
BALLICOM LIMITED |
Company Information |
for the Year Ended 31 August 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Statutory Auditors |
2 Wheeleys Road |
Edgbaston |
Birmingham |
West Midlands |
B15 2LD |
BALLICOM LIMITED (REGISTERED NUMBER: 02799428) |
Strategic Report |
for the Year Ended 31 August 2024 |
The directors present their strategic report for the year ended 31 August 2024. |
BUSINESS OVERVIEW |
The business continued to focus on business customers. |
The Company has supported this by working with specialised sales teams within that sector. |
PRINCIPAL RISKS AND UNCERTAINTIES |
Principle risks and uncertainties are outlined below. These are identified through discussion by high level management with key departments and then communicated to Members of the Board regularly. Management is responsible for considering and executing the appropriate action to mitigate these risks whenever possible. |
Credit risk: there is a policy to credit check and to work within established credit limits for that customer. All debts are insured under a credit insurance policy. |
Currency risk: the majority of sales and purchases are conducted in GBP so very limited exposure to currency risk |
Liquidity risk: management regularly engages in financial planning and analysis to ensure short term financial obligations are monitored and met by efficient use of working capital and with strict credit control collections |
SECTION 172(1) STATEMENT |
The Directors, both individually and collectively, acting in good faith, have exercised their duties over the course of the year to promote the long term success of the company for the benefit of its members as a whole and in doing have sufficiently considered the matters set out in Section 172(1) (a) to (f) of the Companies Act 2006. |
KEY PERFORMANCE INDICATORS |
The main Key Performance Indicators were as follows: |
Turnover: 2024 = £38,824,074 |
Gross Profit Margin: 2024 = 9.06% |
EBITDA as a % of sales: 2024 = 5.03% |
Turnover: 2023 = £40,315,133 |
Gross Profit Margin: 2023 = 9.19% |
EBITDA as a % of sales: 2023 = 5.13% |
Turnover: 2022 = £35,517,154 |
Gross Profit Margin: 2022 = 8.42% |
EBITDA as a % of sales: 2022 = 4.17% |
ON BEHALF OF THE BOARD: |
23 January 2025 |
BALLICOM LIMITED (REGISTERED NUMBER: 02799428) |
Report of the Directors |
for the Year Ended 31 August 2024 |
The directors present their report with the financial statements of the company for the year ended 31 August 2024. |
DIVIDENDS |
Dividends issued during the year = £450,000 (£397,000 in 2023) |
RESEARCH AND DEVELOPMENT |
The Company continues to invest in research and development to enhance internal workflows and improve management systems. |
FUTURE DEVELOPMENTS |
The Company will continue to develop its brand and build upon the good work of management and the sales team to gain a greater share in the markets which it operates in. |
DIRECTORS |
The directors shown below have held office during the whole of the period from 1 September 2023 to the date of this report. |
FINANCIAL INSTRUMENTS |
Various financial instruments are used, these include cash and cash equivalents and other items such as trade debtors and trade creditors that arise directly from operations. The main purpose of the financial instruments is to finance the Company's operations. |
The Company's principal exposure to risks associated with the financial instruments are credit, currency and liquidity. |
These risks are managed as follows: |
Credit risk: All debts are insured under a credit insurance policy |
Foreign currency: Most sales are made in GBP and are therefore not heavily exposed to foreign exchange risk |
Liquidity: The Company regularly reviews its cash requirements to ensure short term financial obligations are met. |
STATEMENT OF DIRECTORS' RESPONSIBILITIES |
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations. |
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: |
- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
BALLICOM LIMITED (REGISTERED NUMBER: 02799428) |
Report of the Directors |
for the Year Ended 31 August 2024 |
STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information. |
AUDITORS |
The auditors, Brindleys Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
ON BEHALF OF THE BOARD: |
Report of the Independent Auditors to the Members of |
Ballicom Limited |
Opinion |
We have audited the financial statements of Ballicom Limited (the 'company') for the year ended 31 August 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). |
In our opinion the financial statements: |
- | give a true and fair view of the state of the company's affairs as at 31 August 2024 and of its profit for the year then ended; |
- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
- | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion |
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
Conclusions relating to going concern |
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. |
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. |
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. |
Other matters |
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon. |
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. |
Opinions on other matters prescribed by the Companies Act 2006 |
In our opinion, based on the work undertaken in the course of the audit: |
- | the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
- | the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements. |
Report of the Independent Auditors to the Members of |
Ballicom Limited |
Matters on which we are required to report by exception |
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors. |
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: |
- | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
- | the financial statements are not in agreement with the accounting records and returns; or |
- | certain disclosures of directors' remuneration specified by law are not made; or |
- | we have not received all the information and explanations we require for our audit. |
Responsibilities of directors |
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. |
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so. |
Report of the Independent Auditors to the Members of |
Ballicom Limited |
Auditors' responsibilities for the audit of the financial statements |
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. |
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
We have considered the nature of the Company's industry and its control environment, and reviewed the company's documentation of their policies and procedures relating to fraud and compliance with laws and regulations. We also enquired of management about their own identification and assessment of the risks of irregularities. |
We obtained an understanding of the legal and regulatory framework that the company operates in, and identified the key laws and regulations that: |
(1) Had a direct effect on the determination of material amounts and disclosures in the financial statements. These included UK Companies Act, tax legislation etc; and |
(2) Do not have a direct effect on the financial statements but compliance with which may be fundamental to the company's ability to operate or to avoid a material penalty |
We discussed among the audit engagement team regarding the opportunities and incentives that may exist within organisation for fraud and how and where fraud might occur in the financial statements. |
In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override. In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments; assessed whether the judgements made in making the accounting estimates are indicative of a potential bias; and evaluated the business rationale of any significant transactions that are |
unusual or outside the normal course of business. |
In addition to the above, our procedures to respond to the risks identified included the following: |
(1) Reviewing financial statement disclosures by testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements; |
(2) Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud; |
(3) Enquiring of management and in-house legal counsel concerning actual and potential litigation and claims, and instances of non-compliance with laws and regulations; and |
(4) Reading minutes of meetings of those charged with governance. |
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors. |
Report of the Independent Auditors to the Members of |
Ballicom Limited |
Use of our report |
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed. |
for and on behalf of |
Statutory Auditors |
2 Wheeleys Road |
Edgbaston |
Birmingham |
West Midlands |
B15 2LD |
BALLICOM LIMITED (REGISTERED NUMBER: 02799428) |
Income Statement |
for the Year Ended 31 August 2024 |
2024 | 2023 |
Notes | £ | £ |
TURNOVER |
Cost of sales |
GROSS PROFIT |
Administrative expenses |
1,615,090 | 2,014,899 |
Other operating income |
OPERATING PROFIT | 4 |
Interest payable and similar expenses | 6 |
PROFIT BEFORE TAXATION |
Tax on profit | 7 |
PROFIT FOR THE FINANCIAL YEAR |
BALLICOM LIMITED (REGISTERED NUMBER: 02799428) |
Other Comprehensive Income |
for the Year Ended 31 August 2024 |
2024 | 2023 |
Notes | £ | £ |
PROFIT FOR THE YEAR |
OTHER COMPREHENSIVE INCOME |
Freehold property revaluation |
Income tax relating to other comprehensive income |
OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX |
TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
BALLICOM LIMITED (REGISTERED NUMBER: 02799428) |
Balance Sheet |
31 August 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 9 |
Tangible assets | 10 |
CURRENT ASSETS |
Stocks | 11 |
Debtors | 12 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 13 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 14 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | 17 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 18 |
Revaluation reserve | 19 |
Retained earnings | 19 |
SHAREHOLDERS' FUNDS |
The financial statements were approved by the Board of Directors and authorised for issue on |
BALLICOM LIMITED (REGISTERED NUMBER: 02799428) |
Statement of Changes in Equity |
for the Year Ended 31 August 2024 |
Called up |
share | Retained | Revaluation | Total |
capital | earnings | reserve | equity |
£ | £ | £ | £ |
Balance at 1 September 2022 |
Changes in equity |
Dividends | - | ( |
) | - | ( |
) |
Total comprehensive income | - |
Balance at 31 August 2023 |
Changes in equity |
Dividends | - | ( |
) | - | ( |
) |
Total comprehensive income | - |
Balance at 31 August 2024 |
BALLICOM LIMITED (REGISTERED NUMBER: 02799428) |
Cash Flow Statement |
for the Year Ended 31 August 2024 |
2024 | 2023 |
Notes | £ | £ |
Cash flows from operating activities |
Cash generated from operations | 1 |
Interest paid | ( |
) | ( |
) |
Tax paid | ( |
) | ( |
) |
Net cash from operating activities |
Cash flows from investing activities |
Purchase of tangible fixed assets | ( |
) | ( |
) |
Net cash from investing activities | ( |
) | ( |
) |
Cash flows from financing activities |
Capital repayments in year | ( |
) |
Amount introduced by directors | 848,722 | 397,000 |
Amount withdrawn by directors | (857,437 | ) | (442,379 | ) |
Equity dividends paid | ( |
) | ( |
) |
Net cash from financing activities | ( |
) | ( |
) |
Increase in cash and cash equivalents |
Cash and cash equivalents at beginning of year |
2 |
3,168,032 |
Cash and cash equivalents at end of year | 2 | 5,665,157 | 3,802,924 |
BALLICOM LIMITED (REGISTERED NUMBER: 02799428) |
Notes to the Cash Flow Statement |
for the Year Ended 31 August 2024 |
1. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS |
2024 | 2023 |
£ | £ |
Profit before taxation |
Depreciation charges |
Gain on revaluation of fixed assets | - | (28,000 | ) |
Finance costs | 18,079 | 9,478 |
1,972,742 | 2,100,482 |
Increase in stocks | ( |
) | ( |
) |
Decrease/(increase) in trade and other debtors | ( |
) |
Increase in trade and other creditors |
Cash generated from operations |
2. | CASH AND CASH EQUIVALENTS |
The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts: |
Year ended 31 August 2024 |
31.8.24 | 1.9.23 |
£ | £ |
Cash and cash equivalents | 5,665,157 | 3,802,924 |
Year ended 31 August 2023 |
31.8.23 | 1.9.22 |
£ | £ |
Cash and cash equivalents | 3,802,924 | 3,168,032 |
3. | ANALYSIS OF CHANGES IN NET FUNDS |
At 1.9.23 | Cash flow | At 31.8.24 |
£ | £ | £ |
Net cash |
Cash at bank | 3,802,924 | 1,862,233 | 5,665,157 |
3,802,924 | 5,665,157 |
Debt |
Finance leases | (158,061 | ) | 84,216 | (73,845 | ) |
(158,061 | ) | 84,216 | (73,845 | ) |
Total | 3,644,863 | 1,946,449 | 5,591,312 |
BALLICOM LIMITED (REGISTERED NUMBER: 02799428) |
Notes to the Financial Statements |
for the Year Ended 31 August 2024 |
1. | STATUTORY INFORMATION |
Ballicom Limited is a |
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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
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. |
Computer software is depreciated at 5% straight line |
Tangible fixed assets |
Freehold properties are depreciated at 2% reducing balance |
Plant and machinery are depreciated at 25% reducing balance |
Fixtures and fittings are depreciated at 25% reducing balance |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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. |
BALLICOM LIMITED (REGISTERED NUMBER: 02799428) |
Notes to the Financial Statements - continued |
for the Year Ended 31 August 2024 |
2. | ACCOUNTING POLICIES - continued |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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. |
3. | EMPLOYEES AND DIRECTORS |
2024 | 2023 |
£ | £ |
Wages and salaries |
Social security costs |
Other pension costs |
The average number of employees during the year was as follows: |
2024 | 2023 |
Sales & Marketing | 17 | 12 |
Distribution | 2 | 2 |
Administration and Management | 7 | 7 |
2024 | 2023 |
£ | £ |
Directors' remuneration |
Included in the Wages and salaries is the amount of £136,722 Directors pension contribution. (£190,000 in 2023). |
4. | OPERATING PROFIT |
The operating profit is stated after charging: |
2024 | 2023 |
£ | £ |
Depreciation - owned assets |
Computer software amortisation |
5. | AUDITORS' REMUNERATION |
2024 | 2023 |
£ | £ |
Fees payable to the company's auditors for the audit of the company's financial statements |
9,750 |
9,000 |
BALLICOM LIMITED (REGISTERED NUMBER: 02799428) |
Notes to the Financial Statements - continued |
for the Year Ended 31 August 2024 |
6. | INTEREST PAYABLE AND SIMILAR EXPENSES |
2024 | 2023 |
£ | £ |
Other income and interst paya |
7. | TAXATION |
Analysis of the tax charge |
The tax charge on the profit for the year was as follows: |
2024 | 2023 |
£ | £ |
Current tax: |
UK corporation tax |
Deferred tax |
Tax on profit |
Tax effects relating to effects of other comprehensive income |
There were no tax effects for the year ended 31 August 2024. |
2023 |
Gross | Tax | Net |
£ | £ | £ |
Freehold property revaluation | - | 100,000 |
8. | DIVIDENDS |
2024 | 2023 |
£ | £ |
Ordinary A shares of 1 each |
Final |
BALLICOM LIMITED (REGISTERED NUMBER: 02799428) |
Notes to the Financial Statements - continued |
for the Year Ended 31 August 2024 |
9. | INTANGIBLE FIXED ASSETS |
Computer |
software |
£ |
COST |
At 1 September 2023 |
and 31 August 2024 |
AMORTISATION |
At 1 September 2023 |
Amortisation for year |
At 31 August 2024 |
NET BOOK VALUE |
At 31 August 2024 |
At 31 August 2023 |
10. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | Plant and | and | Motor |
property | machinery | fittings | vehicles | Totals |
£ | £ | £ | £ | £ |
COST OR VALUATION |
At 1 September 2023 |
Additions |
At 31 August 2024 |
DEPRECIATION |
At 1 September 2023 |
Charge for year |
At 31 August 2024 |
NET BOOK VALUE |
At 31 August 2024 |
At 31 August 2023 |
Cost or valuation at 31 August 2024 is represented by: |
Fixtures |
Freehold | Plant and | and | Motor |
property | machinery | fittings | vehicles | Totals |
£ | £ | £ | £ | £ |
Valuation in 2024 | 1,500,000 | 34,837 | 28,051 | 339,303 | 1,902,191 |
BALLICOM LIMITED (REGISTERED NUMBER: 02799428) |
Notes to the Financial Statements - continued |
for the Year Ended 31 August 2024 |
11. | STOCKS |
2024 | 2023 |
£ | £ |
Stocks |
12. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
S455 held by HMRC | - | 114,836 |
Directors' current accounts | 407,437 | 398,722 |
VAT |
Prepayments |
13. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Finance leases (see note 15) |
Trade creditors |
Provision for Bad Debt | 17,388 | - |
Tax |
Social security and other taxes |
Pension | 4,212 | 3,129 |
VAT | 339,944 | - |
Other creditors | 4,732 | 11,838 |
Accrued expenses |
14. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Finance leases (see note 15) |
BALLICOM LIMITED (REGISTERED NUMBER: 02799428) |
Notes to the Financial Statements - continued |
for the Year Ended 31 August 2024 |
15. | LEASING AGREEMENTS |
Minimum lease payments under finance leases fall due as follows: |
Finance leases |
2024 | 2023 |
£ | £ |
Net obligations repayable: |
Within one year |
Between one and five years |
16. | SECURED DEBTS |
Barclays Bank Plc hold a charge over unit 110 The Saturn Centre, 101 Lockhurst Lane, Coventry CV6 5SF on the banks standard form dated 19/07/2007 |
Charge over standard letter of set-off dated 29/01/2008 |
3 item(s) of security |
Debenture on the banks standard for dated 10/07/2000 |
17. | PROVISIONS FOR LIABILITIES |
2024 | 2023 |
£ | £ |
Deferred tax | 61,175 | 47,087 |
Deferred |
tax |
£ |
Balance at 1 September 2023 |
Provided during year |
Balance at 31 August 2024 |
18. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary A | 1 | 10,100 | 10,100 |
Ordinary B | 1 | - | - |
10,100 | 10,100 |
BALLICOM LIMITED (REGISTERED NUMBER: 02799428) |
Notes to the Financial Statements - continued |
for the Year Ended 31 August 2024 |
19. | RESERVES |
Retained | Revaluation |
earnings | reserve | Totals |
£ | £ | £ |
At 1 September 2023 | 5,192,105 |
Profit for the year |
Dividends | ( |
) | ( |
) |
At 31 August 2024 | 6,150,660 |
20. | PENSION COMMITMENTS |
The company paid £15,180 (£13,442 in 2023) towards staff pensions. |
The company paid £136,722 (£190,000 in 2022) towards directors pensions. |
21. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to directors subsisted during the years ended 31 August 2024 and 31 August 2023: |
2024 | 2023 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
22. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is the shareholders |