Billaze Limited Accounts

Billaze Limited Accounts

BILLAZE LIMITED - Company Information

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Billaze Limited FILLETED ACCOUNTS COVER
Billaze Limited
Company No. 01724065
Information for Filing with The Registrar
30 September 2018
Billaze Limited BALANCE SHEET REGISTRAR
at
30 September 2018
Company No.
01724065
Notes
2018
2017
£
£
Fixed assets
Intangible assets
3
112,306118,217
Tangible assets
4
596,000596,016
Investments
5
95,350104,350
803,656818,583
Current assets
Stocks
6
124,317146,817
Debtors
7
753,719755,256
Cash at bank and in hand
72,12364,252
950,159966,325
Creditors: Amount falling due within one year
8
(517,202)
(618,014)
Net current assets
432,957348,311
Total assets less current liabilities
1,236,6131,166,894
Creditors: Amounts falling due after more than one year
9
(303,406)
(303,406)
Provisions for liabilities
Deferred taxation
10
(22,517)
(22,517)
Net assets
910,690840,971
Capital and reserves
Called up share capital
100100
Profit and loss account
11
910,590840,871
Total equity
910,690840,971
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 30 September 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
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.
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the board on 30 September 2018
And signed on its behalf by:
K.H. RAJANI
Director
Billaze Limited NOTES TO THE ACCOUNTS REGISTRAR
for the year ended 30 September 2018
1
Accounting policies
Basis of preparation
The accounts have been prepared in accordance with FRS 102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Companies Act 2006 . There were no material departures from that standard.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets and in accordance with the accounting policies set out below.
The accounts are presented in Sterling, which is the functional currency of the company.
Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.
Intangible fixed assets
Intangible fixed assets are carried at cost less accumulated amortisation and impairment losses.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Freehold investment property
Investment properties are revalued annually and any surplus or deficit is dealt with through the profit and loss account.

No depreciation is provided in respect of investment properties.
Investments
Unlisted investments are recognised initially at fair value less attributable transaction costs. Subsequent to initial recognition, any changes in fair value are recognised in profit and loss.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of inventories recognised as an expense in the period in which the reversal occurs.
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Foreign currencies
Transactions in currencies, other than the functional currency of the Company, are recorded at the rate of exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. all differences are taken to the profit and loss account. Non-monetary items that are measured at historic cost in a foreign currency are not retranslated.
Leased assets
Where the company enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to the Company are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the Company at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately in profit or loss, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the Company's policy on borrowing costs (see the accounting policy above).

Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term.

In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.
Pensions
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
Provisions
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.
2
Employees
2018
2017
Number
Number
The average number of persons employed during the year :
1010
3
Intangible fixed assets
Goodwill
Total
£
£
Cost
At 1 October 2017
210,983210,983
At 30 September 2018
210,983210,983
Amortisation and impairment
At 1 October 2017
92,76692,766
Charge for the year
5,9115,911
At 30 September 2018
98,67798,677
Net book values
At 30 September 2018
112,306112,306
At 30 September 2017
118,217118,217
4
Tangible fixed assets
Land and buildings
Motor vehicles
Fixtures, fittings and equipment
Total
£
£
£
£
Cost or revaluation
At 1 October 2017
515,47713,996220,047749,520
Additions
10,447--10,447
At 30 September 2018
525,92413,996220,047759,967
Depreciation
At 1 October 2017
15,1308,022130,352153,504
Charge for the year
-1,4938,97010,463
At 30 September 2018
15,1309,515139,322163,967
Net book values
At 30 September 2018
510,7944,48180,725596,000
At 30 September 2017
500,3475,97489,695596,016
5
Investments
Other investments - Listed
Total
£
£
Cost or valuation
At 1 October 2017
151,350151,350
At 30 September 2018
151,350151,350
Provisions/Impairment
At 1 October 2017
47,00047,000
Impairment loss
9,0009,000
At 30 September 2018
56,00056,000
Net book values
At 30 September 2018
95,35095,350
At 30 September 2017
104,350104,350
6
Stocks
2018
2017
£
£
Finished goods
124,317146,817
124,317146,817
7
Debtors
2018
2017
£
£
Trade debtors
140,192143,035
Amounts owed by group undertakings
598,931508,311
VAT recoverable
14,59691,639
Prepayments and accrued income
-12,271
753,719755,256
8
Creditors:
amounts falling due within one year
2018
2017
£
£
Other loans
12,56028,060
Trade creditors
126,784283,812
Amounts owed to group undertakings
42,47218,621
Corporation tax
15,31531,002
Loans from directors
108,97378,395
Other creditors
115,08083,118
Accruals and deferred income
96,01895,006
517,202618,014
9
Creditors:
amounts falling due after more than one year
2018
2017
£
£
Other loans
303,406303,406
303,406303,406
10
Provisions for liabilities
Deferred taxation
Accelerated Capital Allowances, Losses and Other Timing Differences
Total
£
£
At 1 October 2017
22,517
22,517
At 30 September 2018
22,517
22,517
11
Reserves
Profit and loss account - includes all current and prior period retained profits and losses.
12
Dividends
2018
2017
£
£
Dividends for the period:
Dividends paid in the period
-
-
Dividends accrued at the period end
10,000
10,000
10,00010,000
Dividends by type:
Non-equity preference dividends
--
Equity dividends
10,00010,000
10,000
10,000
13
Related party disclosures
2018
2017
Transactions with related parties
£
£
Name of related party
SNKB Limited
Description of relationship between the parties
Fellow group company
Description of transaction and general amounts involved
Amounts lent
Amount due from/(to) the related party
598,931508,311
Name of related party
Wing (Cricklewood) Limited
Description of relationship between the parties
Fellow group company
Description of transaction and general amounts involved
Amounts borrowed
Amount due from/(to) the related party
(42,472)
(18,621)
14
Additional information
Its registered number is:
01724065
165 Malvern Avenue
South Harrow
Middlesex
HA2 9HG
Billaze Limited0172406530 September 201801 October 2017false30 September 2018BTCSoftware AP Solution 2019 6.1.116.1.11true017240652017-10-012018-09-30017240652018-09-30017240652017-09-3001724065core:WithinOneYear2018-09-3001724065core:WithinOneYear2017-09-3001724065core:AfterOneYear2018-09-3001724065core:AfterOneYear2017-09-3001724065core:ShareCapital2018-09-3001724065core:ShareCapital2017-09-3001724065core:RetainedEarningsAccumulatedLosses2018-09-3001724065core:RetainedEarningsAccumulatedLosses2017-09-30017240652016-10-012017-09-3001724065core:Goodwill2017-10-01017240652017-10-0101724065core:Goodwill2018-09-3001724065core:Goodwill2017-10-012018-09-3001724065core:Goodwill2017-09-3001724065core:LandBuildings2017-10-0101724065core:MotorVehicles2017-10-0101724065core:FurnitureFittingsToolsEquipment2017-10-0101724065core:LandBuildings2017-10-012018-09-3001724065core:MotorVehicles2017-10-012018-09-3001724065core:FurnitureFittingsToolsEquipment2017-10-012018-09-3001724065core:LandBuildings2018-09-3001724065core:MotorVehicles2018-09-3001724065core:FurnitureFittingsToolsEquipment2018-09-3001724065core:LandBuildings2017-09-3001724065core:MotorVehicles2017-09-3001724065core:FurnitureFittingsToolsEquipment2017-09-3001724065core:CostValuationcore:ListedExchangeTraded2017-10-0101724065core:CostValuation2017-10-0101724065core:CostValuationcore:ListedExchangeTraded2018-09-3001724065core:CostValuationcore:UnlistedNon-exchangeTraded2018-09-3001724065core:ProvisionsForImpairmentInvestmentscore:ListedExchangeTraded2017-10-0101724065core:ProvisionsForImpairmentInvestments2017-10-0101724065core:ProvidedReleasedInPeriodProvisionsForImpairmentInvestmentscore:ListedExchangeTraded2018-09-3001724065core:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2018-09-3001724065core:ProvisionsForImpairmentInvestmentscore:ListedExchangeTraded2018-09-3001724065core:ProvisionsForImpairmentInvestments2018-09-3001724065core:ListedExchangeTraded2018-09-3001724065core:ListedExchangeTraded2017-09-3001724065core:RetainedEarningsAccumulatedLosses2017-10-012018-09-3001724065bus:AllOrdinaryShares2017-10-012018-09-3001724065core:EntityWithJointControlOrSignificantInfluence12017-10-012018-09-3001724065core:EntityWithJointControlOrSignificantInfluence12018-09-3001724065core:EntityWithJointControlOrSignificantInfluence12017-09-3001724065core:EntityWithJointControlOrSignificantInfluence22017-10-012018-09-3001724065core:EntityWithJointControlOrSignificantInfluence22018-09-3001724065core:EntityWithJointControlOrSignificantInfluence22017-09-3001724065bus:RegisteredOffice2017-10-012018-09-3001724065bus:SmallEntities2017-10-012018-09-3001724065bus:FullAccounts2017-10-012018-09-3001724065bus:AuditExempt-NoAccountantsReport2017-10-012018-09-3001724065bus:Director12017-10-012018-09-3001724065bus:PrivateLimitedCompanyLtd2017-10-012018-09-30iso4217:GBPxbrli:pure