BAZ TRADING AND INVESTMENTS LIMITED

BAZ TRADING AND INVESTMENTS LIMITED

BAZ TRADING AND INVESTMENTS LIMITED - Company Information

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Company Registration No. 07675829 (England and Wales)
BAZ TRADING AND INVESTMENTS LIMITED Unaudited accounts for the year ended 31 December 2021
BAZ TRADING AND INVESTMENTS LIMITED Unaudited accounts Contents
Page
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BAZ TRADING AND INVESTMENTS LIMITED Statement of financial position as at 31 December 2021
2021 
2020 
Notes
£ 
£ 
Fixed assets
Intangible assets
4
5,750 
17,249 
Tangible assets
5
37,592 
46,840 
43,342 
64,089 
Current assets
Debtors
6
22,268 
91,769 
Cash at bank and in hand
561,781 
648,957 
584,049 
740,726 
Creditors: amounts falling due within one year
7
(354,531)
(475,191)
Net current assets
229,518 
265,535 
Total assets less current liabilities
272,860 
329,624 
Creditors: amounts falling due after more than one year
8
(146,435)
(170,094)
Net assets
126,425 
159,530 
Capital and reserves
Called up share capital
61 
61 
Capital redemption reserve
39 
39 
Profit and loss account
126,325 
159,430 
Shareholders' funds
126,425 
159,530 
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. 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 19 April 2022 and were signed on its behalf by
Mr S BOYD Director Company Registration No. 07675829
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BAZ TRADING AND INVESTMENTS LIMITED Notes to the Accounts for the year ended 31 December 2021
1
Statutory information
BAZ TRADING AND INVESTMENTS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 07675829. The registered office is Unit 2 Bridge House Chamberlayne Road , Kensal Rise , London , NW10 3NR .
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business , and is shown net of VAT and other sales related taxes . The fair value of consideration takes into account trade discounts and settlement discounts. When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income. Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years. For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.
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BAZ TRADING AND INVESTMENTS LIMITED Notes to the Accounts for the year ended 31 December 2021
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% straight line on cost
Fixtures & fittings
25% straight line on cost
Computer equipment
25% straight line on cost
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 January 2021
114,992 
At 31 December 2021
114,992 
Amortisation
At 1 January 2021
97,743 
Charge for the year
11,499 
At 31 December 2021
109,242 
Net book value
At 31 December 2021
5,750 
At 31 December 2020
17,249 
5
Tangible fixed assets
Land & buildings 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 January 2021
36,715 
67,807 
76,352 
54,150 
235,024 
Disposals
- 
(44,741)
- 
- 
(44,741)
At 31 December 2021
36,715 
23,066 
76,352 
54,150 
190,283 
Depreciation
At 1 January 2021
7,344 
65,770 
67,909 
47,161 
188,184 
Charge for the year
3,672 
509 
3,772 
1,295 
9,248 
On disposals
- 
(44,741)
- 
- 
(44,741)
At 31 December 2021
11,016 
21,538 
71,681 
48,456 
152,691 
Net book value
At 31 December 2021
25,699 
1,528 
4,671 
5,694 
37,592 
At 31 December 2020
29,371 
2,037 
8,443 
6,989 
46,840 
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BAZ TRADING AND INVESTMENTS LIMITED Notes to the Accounts for the year ended 31 December 2021
6
Debtors: amounts falling due within one year
2021 
2020 
£ 
£ 
Trade debtors
20,316 
85,856 
Other debtors
1,952 
5,913 
22,268 
91,769 
7
Creditors: amounts falling due within one year
2021 
2020 
£ 
£ 
Obligations under finance leases and hire purchase contracts
- 
25,358 
Trade creditors
15,499 
22,467 
Taxes and social security
222,402 
246,058 
Other creditors
113,800 
178,478 
Accruals
2,830 
2,830 
354,531 
475,191 
8
Creditors: amounts falling due after more than one year
2021 
2020 
£ 
£ 
Bank loans
144,378 
150,000 
Obligations under finance leases and hire purchase contracts
2,057 
20,094 
146,435 
170,094 
9
Average number of employees
During the year the average number of employees was 12 (2020: 10).
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