Bunk Group Limited Company accounts

Bunk Group Limited Company accounts

BUNK GROUP LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 10840109
Bunk Group Limited
Unaudited Financial Statements
For the year ended
31 October 2020
Bunk Group Limited
Financial Statements
Year ended 31 October 2020
Contents
Page
Officers and professional advisers
1
Directors' report
2
Statement of financial position
3
Notes to the financial statements
4
The following pages do not form part of the financial statements
Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements
7
Bunk Group Limited
Officers and Professional Advisers
The board of directors
Mr L Alonso
Mr S Leong
Registered office
550 Valley Road
Basford
Nottingham
NG5 1JJ
Accountants
Swandec
Chartered Accountants
550 Valley Road
Basford
Nottingham
NG5 1JJ
Bunk Group Limited
Directors' Report
Year ended 31 October 2020
The directors present their report and the unaudited financial statements of the company for the year ended 31 October 2020 .
Directors
The directors who served the company during the year were as follows:
Mr L Alonso
Mr S Leong
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 6 April 2021 and signed on behalf of the board by:
Mr L Alonso
Director
Bunk Group Limited
Statement of Financial Position
31 October 2020
2020
2019
Note
£
£
Current assets
Debtors
3
100
100
----
----
Net current assets
100
100
----
----
Total assets less current liabilities
100
100
----
----
Capital and reserves
Called up share capital
4
100
100
----
----
Shareholders funds
100
100
----
----
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 31 October 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 6 April 2021 , and are signed on behalf of the board by:
Mr L Alonso
Director
Company registration number: 10840109
Bunk Group Limited
Notes to the Financial Statements
Year ended 31 October 2020
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 550 Valley Road, Basford, Nottingham, NG5 1JJ.
2. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
3. Debtors
2020
2019
£
£
Other debtors
100
100
----
----
4. Called up share capital
Issued, called up and fully paid
2020
2019
No.
£
No.
£
Ordinary A shares of £ 1 each
50
50
50
50
Ordinary B shares of £ 1 each
50
50
50
50
----
----
----
----
100
100
100
100
----
----
----
----
5. Directors' advances, credits and guarantees
At the statement of financial position date the balance owing to the directors through the directors loan account was £100 (2019: £100). The directors loan is interest free, unsecured and repayable on demand.
Bunk Group Limited
Management Information
Year ended 31 October 2020
The following pages do not form part of the financial statements.
Bunk Group Limited
Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Bunk Group Limited
Year ended 31 October 2020
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Bunk Group Limited for the year ended 31 October 2020, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of Bunk Group Limited, as a body, in accordance with the terms of our engagement letter dated 20 March 2019. Our work has been undertaken solely to prepare for your approval the financial statements of Bunk Group Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Bunk Group Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that Bunk Group Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Bunk Group Limited. You consider that Bunk Group Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Bunk Group Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Swandec Chartered Accountants
550 Valley Road Basford Nottingham NG5 1JJ
6 April 2021