Betconnect Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07867146 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2019

for

Betconnect Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Directors:

D Schreiber

M F Weaver

Registered office:

Elder House

St Georges Business Park

207 Brooklands Road

Weybridge

Surrey

KT13 0TS

Registered number:

07867146 (England and Wales)

Accountants:

Crowthers Chartered Accountants

15 St Georges Road

Cheltenham

Gloucestershire

GL50 3DT

FIXED ASSETS

Tangible assets

3

5,892

5,390

CURRENT ASSETS

Debtors

4

267,751

139,117

Cash at bank

147,287

44,007

415,038

183,124

CREDITORS

Amounts falling due within one year

5

128,526

37,629

NET CURRENT ASSETS

286,512

145,495

TOTAL ASSETS LESS CURRENT LIABILITIES

292,404

150,885

CAPITAL AND RESERVES

Called up share capital

6,739

4,960

Share premium

3,394,325

1,271,388

Retained earnings

(3,108,660

)

(1,125,463

)

292,404

150,885

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

The 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.

The financial statements were approved by the Board of Directors on 16 January 2020 and were signed on its behalf by:

D Schreiber - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on cost

Taxation

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the

current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax

rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial

statements of current and previous periods. It is recognised in respect of all timing differences, with certain

exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated

in the financial statements that arise from the inclusion of income and expense in tax assessments in periods

different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the

balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued

non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that

apply to the sale of the asset.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2018 - 8 ) .

3.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

Cost

At 1 January 2019

10,376

Additions

4,010

At 31 December 2019

14,386

Depreciation

At 1 January 2019

4,986

Charge for year

3,508

At 31 December 2019

8,494

Net book value

At 31 December 2019

5,892

At 31 December 2018

5,390

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Other debtors

267,751

139,117

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

76,229

22,125

Taxation and social security

25,228

11,497

Other creditors

27,069

4,007

128,526

37,629