Company Registration No. 08098843 (England and Wales)
David Ball Agencies Ltd
Unaudited accounts
for the year ended 31 August 2021
David Ball Agencies Ltd
Unaudited accounts
Contents
David Ball Agencies Ltd
Company Information
for the year ended 31 August 2021
Directors
Mr R A Holder
Mr D Ball
Company Number
08098843 (England and Wales)
Registered Office
34 East Street
Newquay
Cornwall
TR7 1BH
Accountants
Linggard and Thomas
Mor Workspace
Treloggan Lane
Newquay
Cornwall
TR7 2FP
David Ball Agencies Ltd
Statement of financial position
as at 31 August 2021
Intangible assets
150,000
180,000
Tangible assets
79,030
14,629
Cash at bank and in hand
570,315
484,741
Creditors: amounts falling due within one year
(389,811)
(457,373)
Net current assets
270,759
103,182
Total assets less current liabilities
499,789
297,811
Provisions for liabilities
Deferred tax
(14,992)
(2,779)
Net assets
484,797
295,032
Called up share capital
50
50
Capital redemption reserve
50
50
Profit and loss account
484,697
294,932
Shareholders' funds
484,797
295,032
For the year ending 31 August 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 4 February 2022 and were signed on its behalf by
Mr D Ball
Director
Company Registration No. 08098843
David Ball Agencies Ltd
Notes to the Accounts
for the year ended 31 August 2021
David Ball Agencies Ltd is a private company, limited by shares, registered in England and Wales, registration number 08098843. The registered office is 34 East Street, Newquay, Cornwall, TR7 1BH.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
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.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
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:
Land & buildings
20% straight line
Plant & machinery
25% straight line
Computer equipment
20% straight line
David Ball Agencies Ltd
Notes to the Accounts
for the year ended 31 August 2021
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
4
Intangible fixed assets
Goodwill
At 1 September 2020
300,000
At 1 September 2020
120,000
Charge for the year
30,000
5
Tangible fixed assets
Land & buildings
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 September 2020
7,435
233
10,633
18,301
Additions
26,667
-
44,289
70,956
Disposals
-
-
(1,282)
(1,282)
At 31 August 2021
34,102
233
53,640
87,975
At 1 September 2020
1,487
58
2,127
3,672
Charge for the year
1,169
58
4,238
5,465
On disposals
-
-
(192)
(192)
At 31 August 2021
2,656
116
6,173
8,945
At 31 August 2021
31,446
117
47,467
79,030
At 31 August 2020
5,948
175
8,506
14,629
6
Debtors: amounts falling due within one year
2021
2020
Trade debtors
13,001
31,683
Accrued income and prepayments
4,090
15,801
Other debtors
64,624
24,060
David Ball Agencies Ltd
Notes to the Accounts
for the year ended 31 August 2021
7
Creditors: amounts falling due within one year
2021
2020
Bank loans and overdrafts
-
50,000
Trade creditors
8,177
4,995
Taxes and social security
69,462
59,603
Other creditors
283,924
310,771
Loans from directors
24,836
-
Allotted, called up and fully paid:
25 Ordinary A shares of £1 each
25
25
25 Ordinary B shares of £1 each
25
25
9
Operating lease commitments
2021
2020
At 31 August 2021 the company has total minimum future payment commitments under non-cancellable operating leases as follows:
Operating leases expiring:
Within two to five years
2,975
12,117
More than five years
100,625
111,125
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Interest free Directors Loan, repayable on demand.
19,163
58,164
19,163
58,164
Interest free Directors Loan, repayable on demand.
2,480
-
2,480
-
21,643
58,164
21,643
58,164
Included within other debtors is a loan to Mr R A Holder of £58,164.
11
Transactions with related parties
Dividends totalling £90,000 (2020 £50,000) were paid in the year in respect of shares held by the company's Directors.
12
Average number of employees
During the year the average number of employees was 11 (2020: 11).
