Binex Import Export Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04273594 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31ST DECEMBER 2020

FOR

BINEX IMPORT EXPORT LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Roberto Cossutta

SECRETARY:

Centrum Secretaries Limited

REGISTERED OFFICE:

Elscot House

Arcadia Avenue

London

N3 2JU

REGISTERED NUMBER:

04273594 (England and Wales)

ACCOUNTANTS:

Centrum Chartered Accountants

Elscot House

Arcadia Avenue

London

N3 2JU

CURRENT ASSETS

Stocks

-

300

Debtors

4

10,683

7,189

Cash at bank and in hand

7,939

11,974

18,622

19,463

CREDITORS

Amounts falling due within one year

5

(20,289

)

(18,369

)

NET CURRENT (LIABILITIES)/ASSETS

(1,667

)

1,094

TOTAL ASSETS LESS CURRENT LIABILITIES

(1,667

)

1,094

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(1,669

)

1,092

SHAREHOLDERS' FUNDS

(1,667

)

1,094

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2020 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 2nd September 2021 and were signed by:

Roberto Cossutta - Director

1.	STATUTORY INFORMATION

Binex Import Export Ltd 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.

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.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Assets and liabilities in foreign currencies are translated into euro at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into euro at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2019 - 1 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

€

€

Trade debtors

9,831

6,953

Other debtors

852

236

10,683

7,189

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

€

€

Trade creditors

3,188

2,385

Other creditors

17,101

15,984

20,289

18,369