Company Registration No. 07675829 (England and Wales)
BAZ TRADING AND INVESTMENTS LIMITED
Unaudited accounts
for the year ended 31 December 2018
BAZ TRADING AND INVESTMENTS LIMITED
Unaudited accounts
Contents
BAZ TRADING AND INVESTMENTS LIMITED
Statement of financial position
as at 31 December 2018
Intangible assets
40,247
51,746
Tangible assets
51,805
42,957
Cash at bank and in hand
394,177
265,163
Creditors: amounts falling due within one year
(353,254)
(247,843)
Net current assets
128,546
55,653
Total assets less current liabilities
220,598
150,356
Creditors: amounts falling due after more than one year
(65,261)
(40,378)
Net assets
155,337
109,978
Called up share capital
100
100
Profit and loss account
155,237
109,878
Shareholders' funds
155,337
109,978
For the year ending 31 December 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 27 September 2019.
Mr S Boyd
Director
Company Registration No. 07675829
BAZ TRADING AND INVESTMENTS LIMITED
Notes to the Accounts
for the year ended 31 December 2018
BAZ TRADING AND INVESTMENTS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 07675829. The registered office is 90 WALM LANE, WILLESDEN GREEN, LONDON, NW2 4QY.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business , and is shown net of VAT and other sales related taxes . The fair value of consideration takes into account trade discounts and settlement discounts.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be
recovered
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.
For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.
BAZ TRADING AND INVESTMENTS LIMITED
Notes to the Accounts
for the year ended 31 December 2018
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% straight line on cost
Fixtures & fittings
25% straight line on cost
Computer equipment
25% straight line on cost
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
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Intangible fixed assets
Total
At 31 December 2018
114,992
Charge for the year
11,499
At 31 December 2018
74,745
At 31 December 2018
40,247
At 31 December 2017
51,746
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Tangible fixed assets
Total
At 31 December 2018
196,286
Charge for the year
24,208
At 31 December 2018
144,481
At 31 December 2018
51,805
At 31 December 2017
42,957
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Average number of employees
During the year the average number of employees was 12 (2017: 12).
