Balcomm Ltd - Period Ending 2020-09-30
Balcomm Ltd - Period Ending 2020-09-30
Registration number:
Balcomm Ltd
for the Year Ended 30 September 2020
Balcomm Ltd
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Balcomm Ltd
Company Information
Directors |
Mr P A Richardson Mr D Bryant Mr J Faul |
Registered office |
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Registered number |
03693572 |
Accountants |
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Balcomm Ltd
(Registration number: 03693572)
Balance Sheet as at 30 September 2020
Note |
2020 |
2019 |
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Fixed assets |
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Tangible assets |
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Investments |
- |
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Current assets |
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Stocks |
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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 current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
100 |
9,619 |
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Capital redemption reserve |
9,519 |
- |
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Profit and loss account |
708,296 |
2,644,174 |
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Shareholders' funds |
717,915 |
2,653,793 |
Balcomm Ltd
(Registration number: 03693572)
Balance Sheet as at 30 September 2020
For the financial year ending 30 September 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their 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
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Balcomm Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2020
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
Accounting policies |
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. The date of transition is 1 October 2016.
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.
The financial statements are presented in Sterling (£) and figures are shown to the nearest whole pound.
Revenue recognition
Turnover represents net invoiced sale of goods, excluding value added tax.
Government grants
Government grants in relation to expenditure are credited to profit and loss account when the expenditure is charged to profit and loss.
Tax
A provision is recognised when there is legal or constructive obligation as a result of a past event and it is probable that an outflow of economic benefits will be required to settle the obligation.
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Balcomm Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2020
Asset class |
Depreciation method and rate |
Fixtures and fittings |
25% on reducing balance |
Motor vehicles |
25% on reducing balance |
Investments
Investments which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
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.
Stocks
Work in progress is valued at the lower of cost and net realisable value.
Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
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.
Balcomm Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2020
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Tangible assets |
Furniture, fittings and equipment |
Motor vehicles |
Total |
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Cost or valuation |
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At 1 October 2019 |
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Additions |
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At 30 September 2020 |
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Depreciation |
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At 1 October 2019 |
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Charge for the year |
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At 30 September 2020 |
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Carrying amount |
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At 30 September 2020 |
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At 30 September 2019 |
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Balcomm Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2020
Investments held as fixed assets |
2020 |
2019 |
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Other investments |
- |
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Other investments |
£ |
Cost or valuation |
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At 1 October 2019 |
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Additions |
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Disposals |
( |
At 30 September 2020 |
- |
Provision |
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Carrying amount |
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At 30 September 2020 |
- |
At 30 September 2019 |
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Stocks |
2020 |
2019 |
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Work in progress |
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13,431 |
Debtors |
Note |
2020 |
2019 |
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Trade debtors |
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Amounts owed by related parties |
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- |
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Other debtors |
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Balcomm Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2020
Creditors |
Creditors: amounts falling due within one year
Note |
2020 |
2019 |
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Due within one year |
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Loans and borrowings |
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- |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Share capital |
Allotted, called up and fully paid shares
2020 |
2019 |
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No. |
£ |
No. |
£ |
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100 |
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100 |
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- |
- |
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9,519 |
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Loans and borrowings |
2020 |
2019 |
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Current loans and borrowings |
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Bank overdrafts |
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- |
Balcomm Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2020
Related party transactions |
Amount owed by group undertaking
Balcomm Holdings Limited
As at the balance sheet date, Balcomm Holdings Limited, owed £217,841, (2019 - £-) to the company.
Parent and ultimate parent undertaking |
The ultimate parent is