REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 MARCH 2024 |
FOR |
BALLS GRINDING LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 MARCH 2024 |
FOR |
BALLS GRINDING LIMITED |
BALLS GRINDING LIMITED (REGISTERED NUMBER: 04458803) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 29 MARCH 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
BALLS GRINDING LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 29 MARCH 2024 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Chargrove House |
Shurdington Road |
Cheltenham |
Gloucestershire |
GL51 4GA |
BALLS GRINDING LIMITED (REGISTERED NUMBER: 04458803) |
BALANCE SHEET |
29 MARCH 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Capital redemption reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
BALLS GRINDING LIMITED (REGISTERED NUMBER: 04458803) |
BALANCE SHEET - continued |
29 MARCH 2024 |
The financial statements were approved by the director and authorised for issue on |
BALLS GRINDING LIMITED (REGISTERED NUMBER: 04458803) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 29 MARCH 2024 |
1. | STATUTORY INFORMATION |
Balls Grinding Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
These financial statements have been prepared in accordance with the provision of section 1A "Small Entities"of 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 historic cost convention as modified by the revaluation of certain assets. |
Turnover |
Turnover represents net invoiced sales of goods, excluding value added tax, and is recognised at point of sale. |
Goodwill |
Goodwill, being the amount paid in connection with the acquisition of a business in 2003 was amortised evenly over its estimated useful life, and is now fully amortised. |
Tangible fixed assets |
Plant and machinery | - |
Computer equipment | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Financial instruments |
Financial instruments are classified by the directors as basic or advanced following the conditions in FRS 102 Section 11. Basic financial instruments are recognized at amortised cost using the effective interest method. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
BALLS GRINDING LIMITED (REGISTERED NUMBER: 04458803) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 29 MARCH 2024 |
2. | ACCOUNTING POLICIES - continued |
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. |
Research and development |
Expenditure on research and development is written off in the year in which it is incurred. |
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. |
Going concern |
The directors have considered the risks and issues concerning the company and its activities, and no material uncertainties that may cast significant doubt about the company's ability to continue as a going concern have been identified by the directors. |
Provisions |
Provisions are recognised only where a present obligation exists as a result of a past transaction or event at or prior to the balance sheet date. In addition, a provision is only recognised where the amounts involved can be reliably estimated. Where material, provisions are calculated on a discounted basis. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 30 March 2023 |
and 29 March 2024 |
AMORTISATION |
At 30 March 2023 |
and 29 March 2024 |
NET BOOK VALUE |
At 29 March 2024 |
At 29 March 2023 |
BALLS GRINDING LIMITED (REGISTERED NUMBER: 04458803) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 29 MARCH 2024 |
5. | TANGIBLE FIXED ASSETS |
Plant and | Computer |
machinery | equipment | Totals |
£ | £ | £ |
COST |
At 30 March 2023 |
Disposals | ( |
) | ( |
) |
At 29 March 2024 |
DEPRECIATION |
At 30 March 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 29 March 2024 |
NET BOOK VALUE |
At 29 March 2024 |
At 29 March 2023 |
6. | DEBTORS |
2024 | 2023 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Other debtors |
Loan to participator | 475,690 | - |
Directors' loan accounts | - | 465,040 |
Prepayments |
Amounts falling due after more than one year: |
S455 Tax |
Aggregate amounts |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Corporation Tax |
Social security and other taxes | ( |
) |
Wages control | 660 | - |
VAT | 10,247 | 9,368 |
Directors' loan accounts | 68,000 | - |
Accrued expenses |
BALLS GRINDING LIMITED (REGISTERED NUMBER: 04458803) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 29 MARCH 2024 |
8. | TRANSACTION WITH DIRECTORS |
The following advances and credits to directors subsisted during the years ended 29 March 2024 and 29 March 2023: |
2024 | 2023 |
£ | £ |
Balance outstanding at start of year |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
) |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
Interest is being charged annually at the HMRC approved rate, and there are no set repayment terms. |
B Ball-Hornblow resigned as a director during the year, as such this loan balance has been moved from a director's loan to other debtors in the balance sheet accordingly. |
9. | ULTIMATE CONTROLLING PARTY |
As at the year end the company was a subsidiary of BallnDad Limited. Ballndad Limited acquired the shares of the company in the year to 31 March 2021. The Directors B Ball-Hornblow and R J Ball-Hornblow are also shareholders in BallnDad Limited. |
At the year-end Balls Grinding Ltd was owed £15,638 by Ballndad Ltd (2023: £14,789). |
BALLNDAD LTD |
Company number: 13127562 |
Registered office: Chargrove House Main Road, Shurdington, Cheltenham, England, GL51 4GA |