50 Degrees EBD Ventures Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 13348846 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 21 APRIL 2021 TO 30 APRIL 2022

FOR

50 DEGREES EBD VENTURES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

E Bagley-Duncan

A T Bowie

REGISTERED OFFICE:

43 Parkhead Road

Sheffield

S11 9RA

REGISTERED NUMBER:

13348846 (England and Wales)

ACCOUNTANTS:

Marriott Gibbs Rees Wallis Limited

Chartered Certified Accountants

First Floor

Unit 4, Broadfield Court

Sheffield

South Yorkshire

S8 0XF

CURRENT ASSETS

Debtors

4

717,592

CREDITORS

Amounts falling due within one year

5

420,965

NET CURRENT ASSETS

296,627

TOTAL ASSETS LESS CURRENT LIABILITIES

296,627

CAPITAL AND RESERVES

Called up share capital

2

Retained earnings

296,625

296,627

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 April 2022.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 April 2022 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 January 2023 and were signed on its behalf by:

A T Bowie - Director

E Bagley-Duncan - Director

1.	STATUTORY INFORMATION

50 Degrees EBD Ventures 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 presentation currency of the financial statements is the Pound Sterling (£).

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.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 period 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.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 7 .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Amounts owed by associates

22,501

Other debtors

695,091

717,592

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade creditors

1,806

Amounts owed to associates

329,283

Taxation and social security

79,777

Other creditors

10,099

420,965

6.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

£

Within one year

28,800

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 30 April 2022:

£

E Bagley-Duncan

Balance outstanding at start of period

-

Amounts advanced

5,461

Amounts repaid

(4,466

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of period

995

This is an interest free loan. Loans are repayable on demand and this amount is included within other

debtors.

8.	RELATED PARTY DISCLOSURES

50 Degrees Limited and Bagley-Duncan Consultancy Limited

(Shareholders in 50 Degrees EBD Ventures Limited)

The above companies have equal shareholding and voting rights in 50 Degrees EBD Ventures Limited.

Included with other operating income is a management charge to 50 Degrees Limited amounting to £692,440.

The amounts owed to and from these companies are shown under Debtors and Creditors respectively as amounts owed to/ from associates.