ACCOUNTS - Final Accounts preparation

BLYTHE AND BATOUM LIMITED - Company Information

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Registered number: 10531187

Blythe and Batoum Limited

Unaudited

Financial statements

Information for filing with the registrar

For the year ended 31 December 2020

Blythe and Batoum Limited

Chartered accountants' report to the director on the preparation of the unaudited statutory financial statements of Blythe and Batoum Limited for the year ended 31 December 2020

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Blythe and Batoum Limited for the year ended 31 December 2020 which comprise the 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 the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the director of Blythe and Batoum Limited in accordance with the terms of our engagement letter dated 11 May 2021. Our work has been undertaken solely to prepare for your approval the financial statements of Blythe and Batoum Limited and state those matters that we have agreed to state to the director of Blythe and Batoum Limited in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Blythe and Batoum Limited and its director for our work or for this report.

It is your duty to ensure that Blythe and Batoum 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 Blythe and Batoum Limited. You consider that Blythe and Batoum Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Blythe and Batoum 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.

Kreston Reeves LLP

Chartered Accountants

9 Donnington Park

85 Birdham Road

Chichester

West Sussex

PO20 7AJ

27 September 2021

Page 1

Blythe and Batoum Limited

Registered number: 10531187

Balance sheet

As at 31 December 2020

		2020		2019
Note		£		£

Fixed assets
Tangible assets	4		3,360		4,480
Investment property	5		330,000		322,224
			333,360		326,704
Current assets
Debtors: amounts falling due within one year	6	2,078		-
Cash at bank and in hand	7	10,871		1,100
		12,949		1,100
Creditors: amounts falling due within one year	8	(331,378)		(323,037)
Net current liabilities			(318,429)		(321,937)
Total assets less current liabilities			14,931		4,767

Net assets			14,931		4,767

Capital and reserves
Called up share capital	1	1
Profit and loss account	14,930	4,766
	14,931	4,767

Page 2

Blythe and Batoum Limited

Registered number: 10531187

Balance sheet (continued)

As at 31 December 2020

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

C A Bradshaw

Director

Date: 24 September 2021

The notes on pages 4 to 8 form part of these financial statements.

Page 3

Blythe and Batoum Limited

Notes to the financial statements

For the year ended 31 December 2020

1.	General information

The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
Unit 3.3 Central Point
Kirpal Road
Portsmouth
England
PO3 6FH

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue represents the value of rental income and all other associated income receivable by the company.

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

Page 4

Blythe and Batoum Limited

Notes to the financial statements

For the year ended 31 December 2020

2.Accounting policies (continued)

2.3

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery

20%

straight-line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.5

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the director. The director uses observable market prices adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss

Page 5

Blythe and Batoum Limited

Notes to the financial statements

For the year ended 31 December 2020

2.Accounting policies (continued)

2.6

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.8

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.9

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

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 in the Statement of comprehensive income.

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

Employees

The average monthly number of employees, including directors, during the year was 1 (2019 - 1).

Page 6

Blythe and Batoum Limited

Notes to the financial statements

For the year ended 31 December 2020

4.	Tangible fixed assets

		Plant and machinery
		£
	Cost or valuation
	At 1 January 2020	5,600
	At 31 December 2020	5,600
	Depreciation
	At 1 January 2020	1,120
	Charge for the year on owned assets	1,120
	At 31 December 2020	2,240
	Net book value
	At 31 December 2020	3,360
	At 31 December 2019	4,480

5.	Investment property

		Freehold investment property
		£
	Valuation
	At 1 January 2020	322,224
	Additions at cost	13,137
	Surplus on revaluation	(5,361)
	At 31 December 2020	330,000

The 2020 valuations were made by C A Bradshaw, on an open market value for existing use basis.

Debtors

					2020	2019
					£	£


Prepayments and accrued income	2,078	-
	2,078	-

Page 7

Blythe and Batoum Limited

Notes to the financial statements

For the year ended 31 December 2020

7.	Cash and cash equivalents
		2020	2019
		£	£

Cash at bank and in hand	10,871	1,100
	10,871	1,100

8.	Creditors: Amounts falling due within one year
		2020	2019
		£	£

Trade creditors	4,995	-
Corporation tax	2,351	10
Other taxation and social security	151	39
Other creditors	322,572	322,288
Accruals and deferred income	1,309	700
	331,378	323,037

Page 8