The Customer Bureau Ltd 31/12/2020 iXBRL

The Customer Bureau Ltd 31/12/2020 iXBRL

THE CUSTOMER BUREAU LTD - Company Information

Print Friendly Version

2 31/12/2020 2020-12-31 false false false false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2020-01-01 Sage Accounts Production 2020 Update 1 - FRS102_2019 xbrli:pure xbrli:shares iso4217:GBP NI657635 2020-01-01 2020-12-31 NI657635 2020-12-31 NI657635 2019-12-31 NI657635 bus:RegisteredOffice 2020-01-01 2020-12-31 NI657635 bus:LeadAgentIfApplicable 2020-01-01 2020-12-31 NI657635 bus:Director1 2020-01-01 2020-12-31 NI657635 bus:Director2 2020-01-01 2020-12-31 NI657635 bus:Director3 2020-01-01 2020-12-31 NI657635 core:WithinOneYear 2020-12-31 NI657635 core:WithinOneYear 2019-12-31 NI657635 core:AfterOneYear 2019-12-31 NI657635 core:ShareCapital 2020-12-31 NI657635 core:ShareCapital 2019-12-31 NI657635 core:RetainedEarningsAccumulatedLosses 2020-12-31 NI657635 core:RetainedEarningsAccumulatedLosses 2019-12-31 NI657635 bus:Director1 2019-12-31 NI657635 bus:Director1 2020-12-31 NI657635 bus:Director1 2019-12-31 NI657635 bus:Director1 2019-01-01 2019-12-31 NI657635 bus:SmallEntities 2020-01-01 2020-12-31 NI657635 bus:AuditExemptWithAccountantsReport 2020-01-01 2020-12-31 NI657635 bus:FullAccounts 2020-01-01 2020-12-31 NI657635 bus:SmallCompaniesRegimeForAccounts 2020-01-01 2020-12-31 NI657635 bus:PrivateLimitedCompanyLtd 2020-01-01 2020-12-31 NI657635 3 2020-01-01 2020-12-31
Company registration number: NI657635
The Customer Bureau Ltd
Unaudited filleted financial statements
31 December 2020
The Customer Bureau Ltd
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
The Customer Bureau Ltd
Directors and other information
Directors Mr Niall Lavery
Mrs Una Lavery
Mr Alastair Grey
Company number NI657635
Registered office 94-96 High Street
Holywood
Co Down
BT18 9HW
Accountants Weir & Co
27 High Street
Moneymore
Magherafelt
BT45 7PA
The Customer Bureau Ltd
Report to the board of directors on the preparation of the
unaudited statutory financial statements of The Customer Bureau Ltd
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 The Customer Bureau Ltd for the year ended 31 December 2020 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of Chartered Accountants Ireland , we are subject to its ethical and other professional requirements which are detailed at www.charteredaccountants.ie.
This report is made solely to the board of directors of The Customer Bureau Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of The Customer Bureau Ltd and state those matters that we have agreed to state to the board of directors of The Customer Bureau Ltd as a body, in this report in accordance with the requirements of Chartered Accountants Ireland as detailed at www.charteredaccountants.ie. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Customer Bureau Ltd and its board of directors as a body for our work or for this report.
It is your duty to ensure that The Customer Bureau Ltd 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 The Customer Bureau Ltd. You consider that The Customer Bureau Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of The Customer Bureau Ltd. 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.
Weir & Co
Chartered Accountants
27 High Street
Moneymore
Magherafelt
BT45 7PA
3 November 2021
The Customer Bureau Ltd
Statement of financial position
31 December 2020
31/12/20 31/12/19
Note £ £ £ £
Current assets
Debtors 5 151,070 71,651
Cash at bank and in hand 17,960 1,590
_______ _______
169,030 73,241
Creditors: amounts falling due
within one year 6 ( 8,024) ( 7,252)
_______ _______
Net current assets 161,006 65,989
_______ _______
Total assets less current liabilities 161,006 65,989
Creditors: amounts falling due
after more than one year 7 - ( 5,883)
_______ _______
Net assets 161,006 60,106
_______ _______
Capital and reserves
Called up share capital 125 125
Profit and loss account 160,881 59,981
_______ _______
Shareholders funds 161,006 60,106
_______ _______
For the year ending 31 December 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 03 November 2021 , and are signed on behalf of the board by:
Mr Niall Lavery
Director
Company registration number: NI657635
The Customer Bureau Ltd
Notes to the financial statements
Year ended 31 December 2020
1. General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 94-96 High Street, Holywood, Co Down, BT18 9HW.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. The Triennial review 2017 amendments to the standard have been early adopted.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Staff costs
The average number of persons employed by the company during the year amounted to 2 (2019: Nil).
The aggregate payroll costs incurred during the year were:
Year Period
ended ended
31/12/20 31/12/19
£ £
Wages and salaries 15,993 -
Social security costs 1,432 -
Other pension costs 347 -
_______ _______
17,772 -
_______ _______
5. Debtors
31/12/20 31/12/19
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 144,794 71,651
Other debtors 6,276 -
_______ _______
151,070 71,651
_______ _______
6. Creditors: amounts falling due within one year
31/12/20 31/12/19
£ £
Trade creditors 559 -
Amounts owed to group undertakings and undertakings in which the company has a participating interest 7,252 7,252
Social security and other taxes 213 -
_______ _______
8,024 7,252
_______ _______
7. Creditors: amounts falling due after more than one year
31/12/20 31/12/19
£ £
Other creditors - 5,883
_______ _______
8. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
Year ended 31/12/20
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr Niall Lavery ( 5,883) 10,000 4,117
_______ _______ _______
Period ended 31/12/19
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr Niall Lavery - ( 5,883) ( 5,883)
_______ _______ _______
At the end of the period, Mr Niall Lavery had an overdrawn directors current account of £4,117. It is anticipated that the balance owed by Mr Niall Lavery will be cleared by dividend after the period end.
9. Related party transactions
During the year the company entered into the following transactions with related parties:
Transaction value Balance owed by/(owed to)
Year Period Year Period
ended ended ended ended
31/12/20 31/12/19 31/12/20 31/12/19
£ £ £ £
Dividends from subsidiaries 351,000 200,002 - -
Other intergroup transactions 27,143 64,399 91,542 64,399
_______ _______ _______ _______
10. Controlling party
The company was under the control of Niall Lavery, Una Lavery & Alastair Grey throughout the current period .