B-Active Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC292969 (Scotland)

Unaudited Financial Statements for the Year Ended 30 November 2021

for

B-Active Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

8

DIRECTORS:

A Barclay

G Miller

REGISTERED OFFICE:

St James Business Centre

Linwood Road

Paisley

PA3 3AT

REGISTERED NUMBER:

SC292969 (Scotland)

ACCOUNTANTS:

GMH Chartered Accountants

St James Business Centre

Linwood Road

Paisley

Renfrewshire

PA3 3AT

FIXED ASSETS

Tangible assets

4

782

1,167

CURRENT ASSETS

Debtors

5

40,438

17,533

Cash at bank

16,092

36,671

56,530

54,204

CREDITORS

Amounts falling due within one year

6

26,341

18,270

NET CURRENT ASSETS

30,189

35,934

TOTAL ASSETS LESS CURRENT LIABILITIES

30,971

37,101

CREDITORS

Amounts falling due after more than one year

7

(30,464

)

(34,417

)

PROVISIONS FOR LIABILITIES

(148

)

(222

)

NET ASSETS

359

2,462

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

259

2,362

SHAREHOLDERS' FUNDS

359

2,462

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2021 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 March 2022 and were signed on its behalf by:

A Barclay - Director

1.	STATUTORY INFORMATION

B-Active Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The directors have considered the impact of the COVID-19 virus coupled with the level of financial support offered to the company when preparing these financial statements. The likely impact of the virus in the coming year has been considered and incorporated into the plans for the business over the next 12 months. As a result, the directors conclude it appropriate to prepare the financial statements on a going concern basis.

Significant judgements and estimates

The preparation of the financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies. The directors are of the opinion that due to the nature of the business, there are no critical accounting estimates of judgements used in the preparation of these 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

25% on cost

Government grants

Government Grants follow the accruals model and are disclosed separately as other income.

Financial instruments

Trade and other debtors / creditors

Trade and other debtors are recognised initially at transaction price less attributable transaction costs. Trade and other creditors are recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade debtors. If the arrangement constitutes a financing transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments discounted at a market rate of interest for a similar debt instrument.

Cash and cash equivalents

Cash and cash equivalents comprise cash balances and call deposits.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised within profit and loss.

For financial assets that are measured at amortised cost, the impairment loss is measured as the difference between the assets carrying amount and the present value of estimated future cash flows discounted at the assets original effective interest rate. If a financial asset has a variable interest rate, the discount rate of measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the assets carrying amount and the best estimate of the amount that the company would receive for the asset if it were sold at the balance sheet date.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in 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 probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2020 - 13 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 December 2020

and 30 November 2021

2,309

DEPRECIATION

At 1 December 2020

1,142

Charge for year

385

At 30 November 2021

1,527

NET BOOK VALUE

At 30 November 2021

782

At 30 November 2020

1,167

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.21

30.11.20

£

£

Trade debtors

22,389

15,954

Other debtors

18,049

1,579

40,438

17,533

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.21

30.11.20

£

£

Bank loans and overdrafts

3,888

583

Trade creditors

656

1,998

Taxation and social security

20,718

13,723

Other creditors

1,079

1,966

26,341

18,270

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.11.21

30.11.20

£

£

Bank loans

30,464

34,417

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

14,908

-

8.	RELATED PARTY DISCLOSURES

At the end of the financial year, the balances owed to the company were, Mr Barclay £8,602 [2020 - £398 due from company] and fellow director, Mr G Miller £9,105 [2020 - £395 due from company]. The above balances have been disclosed within other creditors with assessment and provision of S.455 and interest being providing.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of B-Active Limited for the year ended 30 November 2021 which comprise the Statement of Income and Retained Earnings, Balance Sheet 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 ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of B-Active Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of B-Active Limited and state those matters that we have agreed to state to the Board of Directors of B-Active Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that B-Active 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 B-Active Limited. You consider that B-Active 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 B-Active 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.

GMH Chartered Accountants

St James Business Centre

Linwood Road

Paisley

Renfrewshire

PA3 3AT

9 March 2022