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

Unaudited Financial Statements

for the Year Ended 31 December 2019

for

Blesscharm Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Miss T C Pobjoy

D C Pobjoy

SECRETARY:

T J Warner

REGISTERED OFFICE:

Millennia House

Kingswood Park

Bonsor Drive

Tadworth

Surrey

KT20 6AY

REGISTERED NUMBER:

02810875 (England and Wales)

ACCOUNTANTS:

Williams & Co

Chartered Accountants

8/10 South Street

Epsom

Surrey

KT18 7PF

BANKERS:

Barclays Bank Plc

8-9 Hanover Square

London

W1A 4ZW

CURRENT ASSETS

Debtors

4

780,389

762,472

Cash at bank

110,202

114,748

890,591

877,220

CREDITORS

Amounts falling due within one year

5

667,278

666,659

NET CURRENT ASSETS

223,313

210,561

TOTAL ASSETS LESS CURRENT LIABILITIES

223,313

210,561

CAPITAL AND RESERVES

Called up share capital

6

1,000

1,000

Retained earnings

222,313

209,561

SHAREHOLDERS' FUNDS

223,313

210,561

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 November 2020 and were signed on its behalf by:

Miss T C Pobjoy - Director

1.	STATUTORY INFORMATION

Blesscharm 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.

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.

Turnover

Turnover represents net invoiced leasing charges, excluding value added tax.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

DEBTORS

2019

2018

£

£

Amounts falling due within one year:

Amounts owed by group undertakings

118,497

100,901

Prepayments and accrued income

1,463

1,142

119,960

102,043

Amounts falling due after more than one year:

Gold loan to connected company

660,429

660,429

Aggregate amounts

780,389

762,472

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Tax

2,991

2,556

VAT

1,238

1,054

Other creditors

2,620

2,620

Loan creditor

660,429

660,429

667,278

666,659

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

1,000

Ordinary

£1

1,000

1,000

7.	RELATED PARTY DISCLOSURES

The company has made a gold bullion loan of £660,429 (2018: £660,429) to Pobjoy Mint Limited, a subsidiary company of a group controlled by the directors.

The company has also received a gold bullion loan of £660,429 (2018: £660,429) from a pension fund of which the directors are trustees. Both transactions are within the normal terms of the company's business.

Included in other debtors is £118,497 (2018: £100,901) due from Pobjoy Mint Limited, a subsidiary company of a group controlled by the directors.

These loans are repayable on demand.

In the year interest was invoiced to Pobjoy Mint Limited, a subsidiary company of a group controlled by the directors of £15,627 (2018: £13,329).

8.	ULTIMATE CONTROLLING PARTY

During the year, the company was ultimately wholly owned and controlled by the directors.