Securebid Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 07702726 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2022

for

SECUREBID LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

Director:

Mr H C Bourn

Registered office:

The Old Rectory

Louth Road

West Barkwith

Market Rasen

Lincolnshire

LN8 5LF

Registered number:

07702726 (England and Wales)

Accountants:

Haines Watts

Chartered Accountants

23 Algitha Road

Skegness

United Kingdom

PE25 2AG

Fixed assets

Tangible assets

4

-

1,288,206

Current assets

Stocks

5

-

36,191

Debtors

6

1

7,941

Cash at bank

-

20,851

1

64,983

Creditors

Amounts falling due within one year

7

-

417,791

Net current assets/(liabilities)

1

(352,808

)

Total assets less current liabilities

1

935,398

Creditors

Amounts falling due after more than one year

8

-

795,700

Net assets

1

139,698

Capital and reserves

Called up share capital

10

1

1

Retained earnings

11

-

139,697

Shareholders' funds

1

139,698

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 November 2022 and were signed by:

Mr H C Bourn - Director

1.	Statutory information

Securebid Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

The company ceased trading on the 1 April 2021.

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.

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.

Freehold land

-

Farm land is not depreciated

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

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 is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

3.	Employees and directors

The average number of employees during the year was NIL (2021 - NIL).

4.	Tangible fixed assets

Freehold

land

£

Cost

At 1 April 2021

1,288,206

Disposals

(1,288,206

)

At 31 March 2022

-

Net book value

At 31 March 2022

-

At 31 March 2021

1,288,206

5.

Stocks

2022

2021

£

£

Valuation

-

36,191

6.

Debtors: amounts falling due within one year

2022

2021

£

£

Trade debtors

-

178

H R Bourn & Sons Linwood

Limited

-

6,585

Other debtors

1

-

VAT

-

1,178

1

7,941

7.

Creditors: amounts falling due within one year

2022

2021

£

£

Trade creditors

-

1,309

H R Bourn & Sons

-

7,418

H C Bourn & Son (Farming) Ltd

-

1,699

E J Bourn (Farming) Limited

-

971

Corporation tax

-

6,394

Loan H C Bourn and Son

(Farming) ltd

-

400,000

-

417,791

8.

Creditors: amounts falling due after more than one year

2022

2021

£

£

Directors' loan accounts

-

795,700

9.	Secured debts

The following secured debts are included within creditors:

2022

2021

£

£

10.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

1

Ordinary shares

£1

1

1

11.

Reserves

Retained

earnings

£

Profit for the year

-

At 31 March 2022

-

12.	Related party disclosures

Mr H C Bourn

Director of the Company.

Movement in the loan during the year nil

The directors loan account is unsecured, interest free and repayable on demand, no amounts have been written off during the year.

2022

2021

£

£

Amount due to related party at the balance sheet date

-

795,700

H R Bourn and Sons

In which Mr H C Bourn, a Director, is a partner.

During the year the company invoiced H R Bourn and Sons for farming operations on an arms' length farm contracting arrangement, for an amount of £Nil. (2021 - £9,085).

During the year H R Bourn and Sons invoiced the company for farming operations on an arms' length farm contracting arrangement, for an amount of £Nil, (2021 - £21,375).

2022

2021

£

£

Amount due to related party at the balance sheet date

-

7,418

H C Bourn & Son (Farming) Limited

In which Mr H C Bourn is a director.

During the year the company invoiced H C Bourn & Son (Farming) Limited for farming operations on an arms' length farm contracting arrangement, for an amount of £Nil, (2021 - £27,785).

During the year H C Bourn & Son (Farming) Limited invoiced the company for farming operations on an arms' length farm contracting arrangement, for an amount of £Nil, (2021 - £26,905)

2022

2021

£

£

Amount due to related party at the balance sheet date

-

401,699

H R Bourn & Sons (Linwood) Limited

In which Mr H C Bourn is a director.

During the year the company invoiced H R Bourn & Sons (Linwood) Limited for farming operations on an arms' length farm contracting arrangement, for an amount of £Nil, (2021 - £12,028).

During the year H R Bourn & Sons (Linwood) Limited invoiced the company for farming operations on an arms' length farm contracting arrangement, for an amount of £Nil, (2021 - £1,673).

2022

2021

£

£

Amount due from related party at the balance sheet date

-

6,585

E J Bourn (Farming) limited

Brother to the Director Mr H C Bourn.

During the year the company invoiced E J Bourn (Farming) Limited for farming operations on an arms length farm contracting arrangement, for an amount of £Nil (2021 - £453).

During the year E J Bourn (Farming) Limited invoiced the company for farming operations on an arms length farm contracting arrangement, for an amount of £Nil (2021 - £1,475).

2022

2021

£

£

Amount due to related party at the balance sheet date

-

971

13.	Ultimate controlling party

The controlling party is Mr H C Bourn.