Bollier Design Limited Filleted accounts for Companies House (small and micro)

BOLLIER DESIGN LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 11831040

BOLLIER DESIGN LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

28 February 2022

BOLLIER DESIGN LIMITED

FINANCIAL STATEMENTS

Year ended 28 February 2022

CONTENTS	PAGE

Balance sheet	1

Notes to the financial statements	2

BOLLIER DESIGN LIMITED

BALANCE SHEET

28 February 2022

	2022	2021
Note	£	£

CURRENT ASSETS

Debtors	4	–	8,754
Cash at bank and in hand		4,611	55
		-------	-------
		4,611	8,809

CREDITORS: amounts falling due within one year	5	( 4,144)	( 5,690)
		-------	-------
NET CURRENT ASSETS		467	3,119
		----	-------
TOTAL ASSETS LESS CURRENT LIABILITIES		467	3,119
		----	-------
NET ASSETS		467	3,119
		----	-------

CAPITAL AND RESERVES

Called up share capital	100	100
Profit and loss account	367	3,019
	----	-------
SHAREHOLDERS FUNDS	467	3,119
	----	-------

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 profit and loss account has not been delivered.

For the year ending 28 February 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 10 February 2023 , and are signed on behalf of the board by:

Miss T C Bollier
Director

Company registration number: 11831040

BOLLIER DESIGN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

Year ended 28 February 2022

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Cedar House, Hazell Drive, Newport, NP10 8FY.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for design services rendered, stated net of discounts. Revenue from the sale of services is recognised when the significant risks and rewards have transferred to the customer, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

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 are 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.

4. DEBTORS

	2022	2021
	£	£
Trade debtors	–	500
Other debtors	–	8,254
	----	-------
	–	8,754
	----	-------

5. CREDITORS: amounts falling due within one year

	2022	2021
	£	£
Trade creditors	–	3,890
Corporation tax	1,083	–
Other creditors	3,061	1,800
	-------	-------
	4,144	5,690
	-------	-------

6. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Included within creditors is a balance of £1,261 (2021 - £6,671 debtor) due to the director. This balance is interest free and repayable on demand. The following transactions took place between the director and the company during the year:

		£

Opening balance		6,671
Dividends		(6,782)
Amounts introduced		(1,150)
Closing balance		(1,261)