ACCOUNTS - Final Accounts preparation

BIASHARA HOLDINGS LIMITED - Company Information

Print Friendly Version

Registered number: 09708816

BIASHARA HOLDINGS LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2020

BIASHARA HOLDINGS LIMITED

REGISTERED NUMBER: 09708816

BALANCE SHEET

AS AT 31 DECEMBER 2020

		2020		2019
Note		£		£

Fixed assets
Investments	4		1,559,870		1,559,870
Current assets
Cash at bank and in hand		1,289		35,175
		1,289		35,175
Creditors: amounts falling due within one year	5	(480,497)		(798,359)
Net current liabilities			(479,208)		(763,184)
Total assets less current liabilities			1,080,662		796,686

Net assets			1,080,662		796,686

Capital and reserves
Called up share capital	200	200
Share premium account	49,990	49,990
Profit and loss account	1,030,472	746,496
	1,080,662	796,686

The directors consider 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 directors acknowledge their 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 profit and loss account 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 on 28 July 2021.

................................................

Mr A Benton

Director

Page 1

BIASHARA HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

1.	General information

Biashara Holdings Limited is a private company limited by shares incorporated in England and Wales with the registration number 09708816. The address of the registered office is The Leys, Hoxne, Eye, Suffolk, England, IP21 5BP.

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.

These financial statements are that of the Company only. The Group is exempt from preparing consolidated accounts due to being classified as small.

The following principal accounting policies have been applied:

2.2

Revenue

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.

2.3

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

2.4

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 2

BIASHARA HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

2.Accounting policies (continued)

2.6

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.

Employees

The average monthly number of employees, including directors, during the year was 3 (2019 - 3).

4.	Fixed asset investments

		Investments in subsidiary companies
		£
	Cost
	At 1 January 2020	1,559,870
	At 31 December 2020	1,559,870

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

Bank loans	-	78,616
Amounts owed to group undertakings	462,000	460,000
Accruals	13,419	21,667
Corporation tax	3,278	1,828
Other taxation and social security	1,800	6,448
Other creditors	-	229,800
	480,497	798,359

6.	Exemption from producing consolidated accounts

Under the provision of section 399 of the Companies Act 2006 the company is exempt from preparing consolidated accounts and has not done so, therefore the accounts show information about the company as an individual entity.

Page 3