The Battle of Britain Memorial Limited Filleted accounts for Companies House (small and micro)

THE BATTLE OF BRITAIN MEMORIAL LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 08638616

The Battle of Britain Memorial Limited

Filleted Unaudited Financial Statements

31 December 2021

The Battle of Britain Memorial Limited

Financial Statements

Year ended 31 December 2021

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

The Battle of Britain Memorial Limited

Statement of Financial Position

31 December 2021

	2021	2020
Note	£	£

Fixed assets

Tangible assets	5	416	555

Current assets

Stock		83,211	84,123
Debtors	7	562	3,265
Cash at bank and in hand		46,981	4,383
		---------	--------
		130,754	91,771

Creditors: amounts falling due within one year	8	266,085	220,803
		---------	---------
Net current liabilities		135,331	129,032
		---------	---------
Total assets less current liabilities		( 134,915)	( 128,477)
		---------	---------
Net liabilities		( 134,915)	( 128,477)
		---------	---------

Capital and reserves

Called up share capital	1	1
Profit and loss account	( 134,916)	( 128,478)
	---------	---------
Shareholders deficit	( 134,915)	( 128,477)
	---------	---------

These financial statements have been prepared and delivered 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'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 December 2021 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 .

The Battle of Britain Memorial Limited

Statement of Financial Position (continued)

31 December 2021

These financial statements were approved by the board of directors and authorised for issue on 9 June 2022 , and are signed on behalf of the board by:

R H Hunting

Director

Company registration number: 08638616

The Battle of Britain Memorial Limited

Notes to the Financial Statements

Year ended 31 December 2021

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is PO Box 337, West Malling, Kent, ME6 9AA, England.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. 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.

Going concern

These accounts have been prepared on the going concern basis, on the understanding the Controlling Party will continue to support the company for the foreseeable future. The Controlling Party has agreed it is their intention to continue to provide support.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures and fittings	-	25% reducing balance
Equipment	-	25% reducing balance

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 3 (2020: 4 ).

5. Tangible assets

	Fixtures and fittings	Equipment	Total
	£	£	£
Cost
At 1 January 2021 and 31 December 2021	865	450	1,315
	----	----	-------
Depreciation
At 1 January 2021	521	239	760
Charge for the year	86	53	139
	----	----	-------
At 31 December 2021	607	292	899
	----	----	-------
Carrying amount
At 31 December 2021	258	158	416
	----	----	-------
At 31 December 2020	344	211	555
	----	----	-------

6. Stock

	2021	2020
	£	£
Goods for resale	83,211	84,123

Stock recognised in cost of sales during the year as an expense was £66,895 (2020: £61,393).

7. Debtors

	2021	2020
	£	£
Other debtors	562	3,265
	----	-------

8. Creditors: amounts falling due within one year

	2021	2020
	£	£
Trade creditors	41,960	46,825
Amounts owed to group undertakings and undertakings in which the company has a participating interest	222,050	172,448
Other creditors	2,075	1,530
	---------	---------
	266,085	220,803
	---------	---------

9. Controlling party

The controlling party of the company is The Battle of Britain Memorial Trust CIO. The parent has produced consolidated financial statements for the year ended 31 December 2021. The principal place of business is New Dover Road, Capel-le-Ferne, Folkestone, Kent, CT18 7JJ.