Ballgate Limited - Accounts to registrar (filleted) - small 18.2

IRIS Accounts Production v20.3.0.228 03589881 director 31.10.18 30.10.19 30.10.19 0 0 false true false false false true false Ordinary A 1.00000 Ordinary B 1.00000 Ordinary C 1.00000 Class-E 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure035898812018-10-30035898812019-10-30035898812018-10-312019-10-30035898812017-10-30035898812017-10-312018-10-30035898812018-10-3003589881ns15:EnglandWales2018-10-312019-10-3003589881ns14:PoundSterling2018-10-312019-10-3003589881ns10:Director12018-10-312019-10-3003589881ns10:PrivateLimitedCompanyLtd2018-10-312019-10-3003589881ns10:SmallEntities2018-10-312019-10-3003589881ns10:AuditExempt-NoAccountantsReport2018-10-312019-10-3003589881ns10:SmallCompaniesRegimeForDirectorsReport2018-10-312019-10-3003589881ns10:SmallCompaniesRegimeForAccounts2018-10-312019-10-3003589881ns10:FullAccounts2018-10-312019-10-300358988112018-10-312019-10-3003589881ns10:OrdinaryShareClass12018-10-312019-10-3003589881ns10:OrdinaryShareClass22018-10-312019-10-3003589881ns10:OrdinaryShareClass32018-10-312019-10-3003589881ns10:OrdinaryShareClass42018-10-312019-10-3003589881ns10:CompanySecretary12018-10-312019-10-3003589881ns10:RegisteredOffice2018-10-312019-10-3003589881ns5:CurrentFinancialInstruments2019-10-3003589881ns5:CurrentFinancialInstruments2018-10-3003589881ns5:ShareCapital2019-10-3003589881ns5:ShareCapital2018-10-3003589881ns5:RetainedEarningsAccumulatedLosses2019-10-3003589881ns5:RetainedEarningsAccumulatedLosses2018-10-3003589881ns5:NetGoodwill2018-10-312019-10-3003589881ns5:NetGoodwill2018-10-3003589881ns5:NetGoodwill2019-10-3003589881ns5:NetGoodwill2018-10-3003589881ns5:PlantMachinery2018-10-3003589881ns5:PlantMachinery2019-10-3003589881ns10:OrdinaryShareClass12019-10-3003589881ns10:OrdinaryShareClass22019-10-3003589881ns10:OrdinaryShareClass32019-10-3003589881ns10:OrdinaryShareClass42019-10-30

REGISTERED NUMBER: 03589881 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 OCTOBER 2019

FOR

BALLGATE LIMITED

Page

Company Information

Statement of Financial Position

Notes to the Financial Statements

DIRECTOR:

Mr K Glenville

SECRETARY:

Miss C Glenville

REGISTERED OFFICE:

85 Great Portland Street

London

W1W 7LT

REGISTERED NUMBER:

03589881 (England and Wales)

ACCOUNTANTS:

Acuity Professional Ltd

Business Advisers and Accountants

Fifth Floor

11 Leadenhall Street

London

EC3V 1LP

FIXED ASSETS

Intangible assets

Tangible assets

Investments

125,000

CURRENT ASSETS

Debtors

232

CREDITORS

Amounts falling due within one year

158,775

NET CURRENT LIABILITIES

(158,543

)

(158,543

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(33,543

)

(33,543

)

CAPITAL AND RESERVES

Called up share capital

56,200

Retained earnings

(89,743

)

(89,743

)

SHAREHOLDERS' FUNDS

(33,543

)

(33,543

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 October 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 October 2019 in accordance with Section 476 of the Companies Act 2006.

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.

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 director and authorised for issue on 23 October 2020 and were signed by:

Mr K Glenville - Director

1.	STATUTORY INFORMATION

Ballgate Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 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.

These financial statements have been prepared in accordance with the provisions 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 historical cost convention.

Information on the impact of first-time adoption of FRS 102 section 1A is given in note 16. The following principal accounting policies have been applied:

SIGNIFICANT JUDGEMENTS AND ESTIMATES

In preparing the financial statements, the directors are required to make estimates and judgements about the carrying amounts of assets and liabilities. The estimates and assumptions are reviewed on an ongoing basis and are based on historical experience and other factors that are considered by the directors to be relevant. Revision to accounting estimates are recognised in the period in which the estimate is revised.

GOODWILL

Goodwill is the purchase price at market value of the exclusive rights to sell and license specific new supplement products to third parties is being amortised over its estimated useful life of 5 years.

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 accounts receivable and payable, loans from banks and other third parties.

Financial assets that are measured at cost and amortized cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognized in profit or loss.

For financial assets measured at amortized cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognized amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

TAXATION

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

DEFERRED TAX

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3.	EMPLOYEES AND DIRECTORS

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

4.	INTANGIBLE FIXED ASSETS

Goodwill

Cost

At 31 October 2018

and 30 October 2019

60,000

Amortisation

At 31 October 2018

and 30 October 2019

60,000

Net book value

At 30 October 2019

At 30 October 2018

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

Cost

At 31 October 2018

and 30 October 2019

57,140

Depreciation

At 31 October 2018

and 30 October 2019

57,140

Net book value

At 30 October 2019

6.	FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:

2019

2018

Investment

125,000

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

Amounts owed by group undertakings

232

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

Trade creditors

1,314

Amounts owed to group undertakings

103,891

Other creditors

53,570

158,775

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

Ordinary A

Ordinary B

Ordinary C

56,000

Class-E

£1

56,000

56,200

Allotted and issued:

Number:

Class:

Nominal
Value

2016

2015

56,000

Share capital
E

£1

56,000

10.	ULTIMATE CONTROLLING PARTY

During the year, the ultimate controlling party was Mr K Glenville .

11.	GOING CONCERN

The accounts show net current liabilities of £158,543 (2018: £158,543) and net liabilities of £33,543 (2018 - £33,543).These accounts have however been prepared on a going concern basis as the the shareholders are continuing to financially support the company.