Bexor Limited - Period Ending 2019-12-31
Bexor Limited - Period Ending 2019-12-31
Registration number:
Bexor Limited
for the Year Ended 31 December 2019
Bexor Limited
Contents
Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
Bexor Limited
(Registration number: 07738784)
Balance Sheet as at 31 December 2019
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2019 |
2018 |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net (liabilities)/assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
( |
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For the financial year ending 31 December 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
.........................................
Director
Bexor Limited
Statement of Changes in Equity for the Year Ended 31 December 2019
Share capital |
Profit and loss account |
Total |
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At 1 January 2019 |
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Loss for the year |
- |
( |
( |
Total comprehensive income |
- |
( |
( |
At 31 December 2019 |
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( |
( |
Share capital |
Profit and loss account |
Total |
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At 1 January 2018 |
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( |
( |
Profit for the year |
- |
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Total comprehensive income |
- |
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At 31 December 2018 |
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Bexor Limited
Notes to the Financial Statements for the Year Ended 31 December 2019
General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
United Kingdom
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts.
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract.
Interest income is recognised using the effective interest method.
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Bexor Limited
Notes to the Financial Statements for the Year Ended 31 December 2019
Tax
The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Bexor Limited
Notes to the Financial Statements for the Year Ended 31 December 2019
Financial instruments
Classification
Recognition and measurement
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Bexor Limited
Notes to the Financial Statements for the Year Ended 31 December 2019
Debtors |
2019 |
2018 |
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Prepayments |
- |
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Other debtors |
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Other debtors of £ 465,261 (2018:£nil) represent loans that accrue interest at 3%.
Creditors |
Creditors: amounts falling due within one year
Note |
2019 |
2018 |
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Due within one year |
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Loans |
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Trade creditors |
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Accruals and deferred income |
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Other creditors |
- |
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Loans and borrowings |
2019 |
2018 |
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Current loans and borrowings |
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Other borrowings |
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At the year end the amount due to shareholders was £23,521 (2018: £23,521). The loan is interest free with no set repayment terms. Other loans of £100,112 (2018:£105,717) are repayable on demand and bear no interest.