Bristol International Balloon Fiesta - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02294349 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

FOR

BRISTOL INTERNATIONAL BALLOON FIESTA

LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Directors' Responsibilities Statement

6

Independent Chartered Certified Accountants' Review Report

7

DIRECTORS:

D A Cameron

C Bailey

P G Dunnington

C C Allcock

P Dalby

B Hardy

REGISTERED OFFICE:

59 Prince Street

Bristol

BS1 4QH

REGISTERED NUMBER:

02294349 (England and Wales)

ACCOUNTANTS:

Peter Mossman Consultants Ltd

Cushy Dingle

Watery Lane

Llanishen

Monmouthshire

NP16 6QT

FIXED ASSETS

Tangible assets

4

1

1

CURRENT ASSETS

Stocks

250

250

Debtors

5

(24,508

)

32,120

Prepayments and accrued income

2

2

Cash at bank

1,570

7,698

(22,686

)

40,070

CREDITORS

Amounts falling due within one year

6

1,254

85,613

NET CURRENT LIABILITIES

(23,940

)

(45,543

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(23,939

)

(45,542

)

CREDITORS

Amounts falling due after more than one year

7

60,000

50,000

NET LIABILITIES

(83,939

)

(95,542

)

CAPITAL AND RESERVES

Called up share capital

9

8

Retained earnings

(83,948

)

(95,550

)

(83,939

)

(95,542

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 27 September 2021 and were signed on its behalf by:

C C Allcock - Director

1.	STATUTORY INFORMATION

Bristol International Balloon Fiesta Limited 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.

The Company has net Liabilities of £83948. This comprises a 'Bounce Back' Loan of £50000 from Barclays Bank along with Loans from the Directors. The Directors have confirmed they will continue to support the Company to enable it to meet its debts when they fall due whilst the Company recovers from the Pandemic.

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 and on a going concern basis.

On the 31st December 2020 the Company had net liabilities of £83948 .However the going concern basis of preparation is considered to be appropriate as the Company has the continuing support of the Directors to enable it to meet its liabilities when they fall due.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2020

and 31 December 2020

13,745

DEPRECIATION

At 1 January 2020

and 31 December 2020

13,744

NET BOOK VALUE

At 31 December 2020

1

At 31 December 2019

1

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Trade debtors

(24,508

)

689

Other debtors

-

31,431

(24,508

)

32,120

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Trade creditors

-

83,609

Taxation and social security

4

4

Other creditors

1,250

2,000

1,254

85,613

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.20

31.12.19

£

£

Bank loans

50,000

-

Trade creditors

10,000

50,000

60,000

50,000

The following reproduces the text of the report prepared for the directors and members in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

We confirm that as directors we have met our duty in accordance with the Companies Act 2006 to:

-	ensure that the company has kept proper accounting records;

-	prepare financial statements which give a true and fair view of the state of affairs of the company as at 31 December 2020 and of its profit for that period in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	follow the applicable accounting policies, subject to any material departures disclosed and explained in the notes to the financial statements.

ON BEHALF OF THE BOARD:

C C Allcock - Director

27 September 2021

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

We have reviewed the financial statements of Bristol International Balloon Fiesta Limited for the year ended 31 December 2020, which comprise the Income Statement, Balance Sheet and the related notes 1 to 7. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

This report is made solely to the company's directors, as a body, in accordance with our terms of engagement. Our review has been undertaken so that we might state to the directors those matters that we have agreed with them in our engagement letter and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's directors as a body for our work, for this report or the conclusions we have formed.

Directors' responsibility for the financial statements

As explained more fully in the Directors' Responsibilities Statement set out on page eight, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view.

Accountants' responsibility

Our responsibility is to express a conclusion based on our review of the financial statements. We conducted our review in accordance with International Standard on Review Engagements (ISRE) 2400 (Revised), 'Engagements to review historical financial statements' and ICAEW Technical Release TECH 09/13AAF 'Assurance review engagements on historical financial statements'. ISRE 2400 also requires us to comply with the ICAEW Code of Ethics.

Scope of the assurance review

A review of financial statements in accordance with ISRE 2400 (Revised) is a limited assurance engagement. We have performed additional procedures to those required under a compilation engagement. These primarily consist of making enquiries of management and others within the entity, as appropriate, applying analytical procedures and evaluating the evidence obtained. The procedures performed in a review are substantially less than those performed in an audit conducted in accordance with International Standards on Auditing (UK and Ireland). Accordingly, we do not express an audit opinion on these financial statements.

Conclusion

Based on our review, nothing has come to our attention that causes us to believe that the financial statements have not been prepared:

-	so as to give a true and fair view of the state of the company's affairs as at 31 December 2020 and of its profit for the year then ended;

-	in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	in accordance with the requirements of the Companies Act 2006.

Peter Mossman Consultants Ltd

Cushy Dingle

Watery Lane

Llanishen

Monmouthshire

NP16 6QT

Date: .............................................