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Registered Number: 03335845
England and Wales

 

 

 

BOUND AROUND LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 November 2023

End date: 31 October 2024
 
 
Notes
 
2024
£
  2023
£
Current assets      
Stocks   1,488 
Debtors: amounts falling due within one year 1    8,839 
Cash at bank and in hand 20,627    4,629 
20,628    14,956 
Creditors: amount falling due within one year (20,528)   (5,579)
Net current assets 100    9,377 
 
Total assets less current liabilities 100    9,377 
Net assets 100    9,377 
 

Capital and reserves
     
Called up share capital 4 100    100 
Profit and loss account   9,277 
Shareholders' funds 100    9,377 
 


For the year ended 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

Registered Number: 033358454
The financial statements were approved by the board of directors on 10 February 2025 and were signed on its behalf by:


-------------------------------
Mr.S. Pilcher
Director
1
General Information
Bound Around Limited is a private company, limited by shares , registered in England and Wales , registration number 03335845 , registration address 51 Livesey Street, Wateringbury, Maidstone, Kent, ME18 5BQ.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, The Financial Reporting Standard applicable in the UK and the Republic of Ireland
1.

Accounting policies

Significant accounting policies
The financial statements have been prepared under the historical cost convention and in accordance with FRS 102 Section 1A small entities. There were no material departures from the standard.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, net of discounts and value added taxes.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current taxation
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The companys liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred taxation
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from good will or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled, or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.

Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated capital and reserves in respect of that asset, the excess is recognised in profit or loss.


Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over the useful lives on the following basis:
Plant and Machinery 25 Reducing Balance
Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
2.

Average number of employees

Average number of employees during the year was 1 (2023 : 3).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Total
  £   £
At 01 November 2023 2,881    2,881 
Additions  
Disposals  
At 31 October 2024 2,881    2,881 
Depreciation
At 01 November 2023 2,881    2,881 
Charge for year  
On disposals  
At 31 October 2024 2,881    2,881 
Net book values
Closing balance as at 31 October 2024  
Opening balance as at 01 November 2023  


4.

Share Capital

Authorised
100 Class A shares of £1.00 each
Allotted, called up and fully paid
2024
£
  2023
£
100 Class A shares of £1.00 each 100    100 
100    100 

2