Binsted Group Limited - Accounts to registrar (filleted) - small 18.2
Binsted Group Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 December 2020 |
| for |
| Binsted Group Limited |
| Binsted Group Limited (Registered number: 03422696) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2020 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Binsted Group Limited |
| Company Information |
| for the Year Ended 31 December 2020 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Suite 15 |
| The Enterprise Centre |
| Coxbridge Business Park |
| Farnham |
| Surrey |
| GU10 5EH |
| Binsted Group Limited (Registered number: 03422696) |
| Balance Sheet |
| 31 December 2020 |
| 2020 | 2019 |
| Notes | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks | 6 |
| Debtors | 7 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 8 | ( |
) | ( |
) |
| NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 9 | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| Binsted Group Limited (Registered number: 03422696) |
| Balance Sheet - continued |
| 31 December 2020 |
| 2020 | 2019 |
| Notes | £ | £ |
| CAPITAL AND RESERVES |
| Called up share capital | 11 |
| Revaluation reserve | 12 |
| Retained earnings | 12 | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS |
| 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. |
| 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 and authorised for issue on |
| Binsted Group Limited (Registered number: 03422696) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2020 |
| 1. | STATUTORY INFORMATION |
| Binsted Group Limited is a |
| 2. | ACCOUNTING POLICIES |
| BASIS OF PREPARING THE FINANCIAL STATEMENTS |
| TURNOVER |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| GOODWILL |
| INTANGIBLE ASSETS |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
| TANGIBLE FIXED ASSETS |
| Plant and machinery | - |
| STOCKS |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| 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 balance sheet date. |
| DEFERRED TAX |
| Deferred tax is not recognized in respect of all timing differences that have originated but not reversed at the balance sheet date which are immaterial. |
| 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. |
| Binsted Group Limited (Registered number: 03422696) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2020 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Development |
| Goodwill | costs | Totals |
| £ | £ | £ |
| COST |
| At 1 January 2020 |
| and 31 December 2020 |
| AMORTISATION |
| At 1 January 2020 |
| and 31 December 2020 |
| NET BOOK VALUE |
| At 31 December 2020 |
| At 31 December 2019 |
| 5. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| £ |
| COST |
| At 1 January 2020 |
| and 31 December 2020 |
| DEPRECIATION |
| At 1 January 2020 |
| Charge for year |
| At 31 December 2020 |
| NET BOOK VALUE |
| At 31 December 2020 |
| At 31 December 2019 |
| 6. | STOCKS |
| 2020 | 2019 |
| £ | £ |
| Raw materials |
| Binsted Group Limited (Registered number: 03422696) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2020 |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Trade debtors |
| Tax recoverable | - | 86 |
| Pensions | 32 | 208 |
| Directors' current accounts | 1,625 | - |
| Prepayments and accrued income |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Bank loans and overdrafts (see note 10) |
| Other loans (see note 10) |
| Trade creditors |
| Tax |
| PAYE/NI liability |
| VAT | 11,763 | 12,504 |
| Directors' current accounts | - | 9,587 |
| Accrued expenses |
| Deferred Income | 2,789 | - |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Bounce back loan | 25,000 | - |
| 10. | LOANS |
| An analysis of the maturity of loans is given below: |
| 2020 | 2019 |
| £ | £ |
| Amounts falling due within one year or on demand: |
| Bank loans |
| Other loans |
| Binsted Group Limited (Registered number: 03422696) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2020 |
| 11. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2020 | 2019 |
| value: | £ | £ |
| Ordinary shares | £1 | 50,000 | 50,000 |
| Preference shares | £1 | 20,898 | 20,898 |
| 70,898 | 70,898 |
| 12. | RESERVES |
| Retained | Revaluation |
| earnings | reserve | Totals |
| £ | £ | £ |
| At 1 January 2020 | ( |
) | 825,058 |
| Profit for the year |
| At 31 December 2020 | ( |
) | 840,347 |
| 13. | RELATED PARTY DISCLOSURES |
| At the balance sheet date, the directors owed to the company the sum of £1,625 (previous year- company owed to the directors - £9,587). |
| 14. | ULTIMATE CONTROLLING PARTY |
| The company is under the control of E Binsted, who holds more than 50% of the issued share capital. |
| E Binsted is also the director of the company. |
| 15. | EVENT DURING THE REPORTING PERIOD |
| For the period ended on 31/12/2020 the Coronavirus (COVID-19) has emerged globally resulting in a significant impact on businesses worldwide. As a result some business operations have been restricted, however company continues to operate using alternative methods and remote working. |
| The directors are unable to evaluate the overall financial impact on the business at present. Hence the financial statements do not include any adjustments that might result from the outcome of this uncertainty. The directors are continuing to monitor, assess and act with reference to the current changing environment in order to position the company to ensure its future success. |