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Registration number: 07859817

Always Bet on Black Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 November 2024

 

Always Bet on Black Limited

Contents

Company Information

1

Directors' Report

2

Accountants' Report

3

Balance Sheet

4

Notes to the Unaudited Financial Statements

5 to 9

 

Always Bet on Black Limited

Company Information

Directors

Mr Benjamin Michael Walker

Ms Isabel Sabine

Registered office

Unit 8 Goldsmith Way
Eliot Business Park
Nuneaton
Warwickshire
CV10 7RJ

Accountants

Pattinsons Business Services Ltd 8 The Courtyard
Goldsmith Way
Eliot Business Park
Nuneaton
CV10 7RJ

 

Always Bet on Black Limited

Directors' Report for the Year Ended 30 November 2024

The directors present their report and the financial statements for the year ended 30 November 2024.

Directors of the company

The directors who held office during the year were as follows:

Mr Benjamin Michael Walker

Ms Isabel Sabine

Principal activity

The principal activity of the company is is that of radio production.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the Board on 23 May 2025 and signed on its behalf by:

.........................................
Mr Benjamin Michael Walker
Director

 

Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Always Bet on Black Limited
for the Year Ended 30 November 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Always Bet on Black Limited for the year ended 30 November 2024 as set out on pages 4 to 9 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Always Bet on Black Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Always Bet on Black Limited and state those matters that we have agreed to state to the Board of Directors of Always Bet on Black Limited, as a body. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Always Bet on Black Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Always Bet on Black Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Always Bet on Black Limited. You consider that Always Bet on Black Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Always Bet on Black Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Pattinsons Business Services Ltd
8 The Courtyard
Goldsmith Way
Eliot Business Park
Nuneaton
CV10 7RJ

23 May 2025

 

Always Bet on Black Limited

(Registration number: 07859817)
Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

4,538

4,660

Current assets

 

Debtors

6

13,462

5,622

Cash at bank and in hand

 

25,994

20,963

 

39,456

26,585

Creditors: Amounts falling due within one year

7

(28,423)

(21,128)

Net current assets

 

11,033

5,457

Total assets less current liabilities

 

15,571

10,117

Provisions for liabilities

(1,203)

(1,235)

Net assets

 

14,368

8,882

Capital and reserves

 

Called up share capital

8

1

1

Retained earnings

14,367

8,881

Shareholders' funds

 

14,368

8,882

For the financial year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the Board on 23 May 2025 and signed on its behalf by:
 

.........................................
Mr Benjamin Michael Walker
Director

 

Always Bet on Black Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 8 Goldsmith Way
Eliot Business Park
Nuneaton
Warwickshire
CV10 7RJ

These financial statements were authorised for issue by the Board on 23 May 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Always Bet on Black Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Audio and computer equipment

10% reducing balance & 3 years straight line

Office equipment

20% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Always Bet on Black Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks, other third parties and loans to related parties.

3

Staff numbers

The average number of persons employed by the company during the year, was 2 (2023 - 2).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

666

693

5

Tangible assets

Office, Audio and Computer Equipment
 £

Total
£

Cost or valuation

At 1 December 2023

18,704

18,704

Additions

544

544

At 30 November 2024

19,248

19,248

Depreciation

At 1 December 2023

14,044

14,044

Charge for the year

666

666

At 30 November 2024

14,710

14,710

Carrying amount

At 30 November 2024

4,538

4,538

At 30 November 2023

4,660

4,660

 

Always Bet on Black Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

6

Debtors

2024
£

2023
£

Trade debtors

8,321

4,806

Prepayments

141

141

Other debtors

5,000

675

13,462

5,622

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Taxation and social security

 

26,636

20,268

Other creditors

 

1,787

860

 

28,423

21,128

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

1

1

1

1

       
 

Always Bet on Black Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

9

Related party transactions

Transactions with directors

2024

At 1 December 2023
£

Advances to directors
£

Repayments by directors
£

At 30 November 2024
£

Loan to director

(860)

75,677

(76,603)

(1,786)

         
       

 

2023

At 1 December 2022
£

Advances to directors
£

Repayments by directors
£

At 30 November 2023
£

Loan to director

(697)

82,660

(82,823)

(860)

         
       

 

Interest has been charged at HMRC's beneficial loan interest rates on balances in excess of £10,000. The loan is repayable on demand.