Blast & Ballistic Protection Limited
Blast & Ballistic Protection Limited
Registered number: 04805692
Unaudited Financial Statements
For The Year Ended
30 April 2019
Blast & Ballistic Protection Limited
Unaudited Financial Statements
For The Year Ended
30 April 2019
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Company Information | 1 |
| Balance Sheet | 2—3 |
| Notes to the Financial Statements | 4—7 |
Blast & Ballistic Protection Limited
Company Information
For The Year Ended
30 April 2019
Company Information
| Directors |
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| Company Number |
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| Registered Office | Streathers Solicitors LLP |
| 44 Baker Street | |
| London | |
| W1U 7AL | |
| Accountants |
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| Chartered Accountants | |
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| 401 Edgware Road | |
| London | |
| NW2 6GY | |
Page 1
Blast & Ballistic Protection Limited
Balance Sheet
As at
30 April 2019
Balance Sheet
Registered number:
04805692
For the year ending 30 April 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| 2019 | 2018 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 3 |
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| CURRENT ASSETS | |||||
| Debtors | 4 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 5 |
( |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year | 6 |
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| NET LIABILITIES |
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| CAPITAL AND RESERVES | |||||
| Called up share capital |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | (2,256,641) | (1,935,410) | |||
Page 2
Blast & Ballistic Protection Limited
Balance Sheet (continued)
As at
30 April 2019
Directors' responsibilities:
-
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. -
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
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Director
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The notes on pages 4 to 7 form part of these financial statements.
Page 3
Blast & Ballistic Protection Limited
Notes to the Financial Statements
For The Year Ended
30 April 2019
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
The presentation currency of the financial statements is the Pound Sterling (£).
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
1.2.
Going Concern Disclosure
At 30 April 2019, the balance sheet showed net current liabilities of £260,485 (2018 - £293,850) and a net deficit of £2,256,641 (2018 - £1,935,410). The parent company has given an undertaking to financially support the company for at least 12 months from the date of signature on the balance sheet. The situation will be reviewed after this time. On this basis, the directors consider it appropriate to prepare the financial statements on a going concern basis.
1.3.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
1.4.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Plant & Machinery |
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| Fixtures & Fittings |
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| Computer Equipment |
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1.5.
Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods.
The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
1.6.
Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Page 4
Blast & Ballistic Protection Limited
Notes to the Financial Statements (continued)
For The Year Ended
30 April 2019
1.7.
Taxation
Taxation expense represents the sum of the tax currently payable and deferred tax.
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 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 is recognised in respect of all timing difference that have originated but not reversed at the balance sheet date.
Timing differences arise from the inclusion of income and expenses in the tax assessments in periods different from those in which they are recognised in the 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 probably that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
1.8.
Provisions and accruals
Provisions are recognised when there is a present legal or constructive obligation as a result of past events and the amount can be reliably estimated. Provisions are not recognised for future operating losses.
1.9.
Long term contracts
Amounts recoverable on long term contracts, which are included in debtors, are stated at the net sales value of the work done after provision for contingencies and anticipated future losses on contracts, less amounts received as progress payments on account. Excess progress payments are included in creditors as payments on account.
2.
Average Number of Employees
Average number of employees, including directors, during the year was as follows: 1 (2018: 1)
3.
Tangible Assets
| Plant & Machinery | Fixtures & Fittings | Computer Equipment | Total | |
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| £ | £ | £ | £ | |
| Cost | ||||
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| Depreciation | ||||
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| Provided during the period |
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| Net Book Value | ||||
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Page 5
Blast & Ballistic Protection Limited
Notes to the Financial Statements (continued)
For The Year Ended
30 April 2019
4.
Debtors
| 2019 | 2018 | ||
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| £ | £ | ||
| Due within one year | |||
| Other debtors |
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| VAT |
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| Amounts owed by associates |
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| Due after more than one year | |||
| Amounts owed by group undertakings |
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5.
Creditors: Amounts Falling Due Within One Year
| 2019 | 2018 | ||
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| £ | £ | ||
| Net obligations under finance lease and hire purchase contracts |
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| Trade creditors |
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| Bank loans and overdrafts |
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| Other creditors |
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| Accruals and deferred income |
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| Directors' loan accounts |
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| Amounts owed to associates |
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6.
Creditors: Amounts Falling Due After More Than One Year
| 2019 | 2018 | ||
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| £ | £ | ||
| Amounts owed to group undertakings |
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7.
Obligations Under Finance Leases and Hire Purchase
| 2019 | 2018 | ||
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| £ | £ | ||
| The maturity of these amounts is as follows: | |||
| Amounts Payable: | |||
| Within one year |
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Page 6
Blast & Ballistic Protection Limited
Notes to the Financial Statements (continued)
For The Year Ended
30 April 2019
8.
Post Balance Sheet Events
The company voluntary arrangement has been released as of 17 February 2021.
9.
Exceptional Items
The following items are included in exceptional items:
2018: Irrecoverable VAT - £61,406
2019: Creditor balances written off via CVA - £(79,066)
10.
Contingent asset
Within other debtors on the balance sheet is an amount of £70,743 held in court in Canada. This was paid in previous years to the courts, which oversaw the legal case between the company and a supplier. The supplier claims to be owed an amount due of £293,060. The company voluntary agreement has been released as of 17 February 2021, and directors await to hear back from solicitors in Canada as to the next steps in this case.
11.
General Information
Blast & Ballistic Protection Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
04805692
. The registered office is Streathers Solicitors LLP, 44 Baker Street, London, W1U 7AL.
Page 7