B & B INNOVATIONS LIMITED Filleted accounts for Companies House (small and micro)
B & B INNOVATIONS LIMITED Filleted accounts for Companies House (small and micro)
COMPANY REGISTRATION NUMBER:
04297914
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|
Abridged Statement of Financial Position |
2022 |
2021 |
|
Note |
£ |
£ |
Fixed assets
Tangible assets |
6 |
|
|
Current assets
Debtors |
|
|
Cash at bank and in hand |
|
|
--------- |
--------- |
|
|
|
|
Creditors: amounts falling due within one year |
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|
--------- |
--------- |
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Net current assets |
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|
--------- |
--------- |
|
Total assets less current liabilities |
|
|
Creditors: amounts falling due after more than one year |
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|
--------- |
--------- |
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Net assets |
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|
--------- |
--------- |
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Capital and reserves
Called up share capital |
|
|
Profit and loss account |
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|
--------- |
--------- |
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Shareholders funds |
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|
--------- |
--------- |
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In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its abridged 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 abridged financial statements
.
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Abridged Statement of Financial Position (continued) |
These abridged financial statements were approved by the
board of directors
and authorised for issue on
22 January 2023
, and are signed on behalf of the board by:
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Director |
Director |
Company registration number:
04297914
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Notes to the Abridged Financial Statements |
Year ended 31 May 2022
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 2 Spinney Court, Brimscombe, Stroud, Gloucestershire, GL5 2PY.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Judgements and key sources of estimation uncertainty
Revenue recognition
Income tax
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill |
- |
|
|
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and Machinery |
- |
|
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Fixtures and Fittings |
- |
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Motor Vehicles |
- |
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Office Equipment |
- |
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Impairment of fixed assets
Finance leases and hire purchase contracts
Financial instruments
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
5
(2021:
6
).
5.
Intangible assets
£ |
|
Cost |
|
At 1 June 2021 and 31 May 2022 |
|
------- |
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Amortisation |
|
At 1 June 2021 and 31 May 2022 |
|
------- |
|
Carrying amount |
|
At 31 May 2022 |
– |
------- |
|
At 31 May 2021 |
– |
------- |
|
6.
Tangible assets
£ |
|
Cost |
|
At 1 June 2021 |
|
Additions |
|
Disposals |
(
|
--------- |
|
At 31 May 2022 |
|
--------- |
|
Depreciation |
|
At 1 June 2021 |
|
Charge for the year |
|
Disposals |
(
|
--------- |
|
At 31 May 2022 |
|
--------- |
|
Carrying amount |
|
At 31 May 2022 |
50,018 |
--------- |
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At 31 May 2021 |
70,136 |
--------- |
|
7.
Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2022 |
||||
Balance brought forward |
Advances/ (credits) to the directors |
Balance outstanding |
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£ |
£ |
£ |
||
|
(
|
(
|
(
|
|
---- |
---- |
---- |
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2021 |
||||
Balance brought forward |
Advances/ (credits) to the directors |
Balance outstanding |
||
£ |
£ |
£ |
||
|
(
|
|
(
|
|
---- |
---- |
---- |
||
8.
Related party transactions
The company was under the joint control of Mr and Mrs D Bagust during the current and previous year. Mr Bagust is the managing director and Mr and Mrs D Bagust are the only shareholders.