Billaze Limited Accounts






Billaze Limited

	Company No. 01724065
		Information for Filing with The Registrar
		30 September 2022

The Directors present their report and the accounts for the year ended 30 September 2022.

Principal activities
The principal activity of the company during the year under review was retailers and wholesalers of pharmaceutical products.




Directors

The Directors who served at any time during the year were as follows:

K.H. RAJANI
S.H. RAJANI






































































The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.

Signed on behalf of the board

K.H. RAJANI
Director
30 September 2022

at	30 September 2022
Company No.		01724065	Notes	2022	2021
				£	£
Fixed assets
	Intangible assets		4	91,474	96,288
	Tangible assets		5	633,199	635,501

	Investments		6	59,350	68,350
				784,023	800,139
Current assets
	Stocks		7	24,086	36,392
	Debtors		8	957,783	894,043

	Cash at bank and in hand			35,146	48,213
				1,017,015	978,648
Creditors: Amount falling due within one year			9	(619,096)	(390,099)
Net current assets				397,919	588,549
Total assets less current liabilities				1,181,942	1,388,688
Creditors: Amounts falling due after more than one year			10	(163,173)	(354,227)
Provisions for liabilities
	Deferred taxation			(22,517)	(22,517)

Net assets				996,252	1,011,944

Capital and reserves
	Called up share capital			100	100



	Profit and loss account		13	996,152	1,011,844

Total equity				996,252	1,011,944



These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.

For the year ended 30 September 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.



As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.

Approved by the board on 30 September 2022
And signed on its behalf by:
K.H. RAJANI
Director
30 September 2022

for the year ended 30 September 2022

General information

Its registered number is: 01724065

Its registered office is:

165 Malvern Avenue

South Harrow

Middlesex

HA2 9HG

The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland (March 2018) and the Companies Act 2006.

Accounting policies

Turnover

Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.

Intangible fixed assets

Intangible fixed assets are carried at cost less accumulated amortisation and impairment losses.

Research and development costs

Expenditure on research and development is written off in the year it is incurred unless it meets the criteria to allow it to be capitalised. Costs of research are always written off in the year in which they are incurred. Where development costs are recognised as an asset, they are amortised over the period expected to benefit from them. Amortisation of the capitalised costs begins once the developed product comes into use, typically at rate of 33.33% straight line.

Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

Freehold investment property

Investment properties are revalued annually and any surplus or deficit is dealt with through the profit and loss account.

No depreciation is provided in respect of investment properties.

Investments

Unlisted investments (except those held as subsidiaries, associates or joint ventures) are recognised initially at fair value less attributable transaction costs. Subsequent to initial recognition, any changes in fair value are recognised in profit and loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of inventories recognised as an expense in the period in which the reversal occurs.

Work in progress is reflected in the accounts on a contract by contract basis by recording revenue and related costs as contract activity progresses.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.

Trade and other creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Foreign currencies

The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.

Transactions in currencies, other than the functional currency of the Company, are recorded at the rate of exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. all differences are taken to the profit and loss account. Non-monetary items that are measured at historic cost in a foreign currency are not retranslated.

Leased assets

Where the company enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to the Company are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the Company at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately in profit or loss, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the Company's policy on borrowing costs (see the accounting policy above).

Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term.

In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.

Defined contribution pensions

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations.

The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Provisions

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.

3	Employees
			2022	2021
			Number	Number
		The average monthly number of employees (including directors) during the year was:	5	4

4	Intangible fixed assets
			Goodwill	Total
			£	£
		Cost
		At 1 October 2021	210,983	210,983


		At 30 September 2022	210,983	210,983
		Amortisation and impairment
		At 1 October 2021	114,695	114,695
		Charge for the year	4,814	4,814


		At 30 September 2022	119,509	119,509
		Net book values
		At 30 September 2022	91,474	91,474
		At 30 September 2021	96,288	96,288

5	Tangible fixed assets
			Land and buildings	Motor vehicles	Fixtures, fittings and equipment	Total
			£	£	£	£
		Cost or revaluation
		At 1 October 2021	584,424	13,996	227,547	825,967
		Additions	-	-	5,113	5,113



		At 30 September 2022	584,424	13,996	232,660	831,080
		Depreciation
		At 1 October 2021	15,130	12,105	163,231	190,466
		Charge for the year	-	473	6,942	7,415



		At 30 September 2022	15,130	12,578	170,173	197,881
		Net book values
		At 30 September 2022	569,294	1,418	62,487	633,199
		At 30 September 2021	569,294	1,891	64,316	635,501

6	Investments
			Other investments	Total
			£	£
		Cost or valuation
		At 1 October 2021	151,350	151,350



		At 30 September 2022	151,350	151,350
		Provisions/Impairment
		At 1 October 2021	83,000	83,000
		Impairment loss	9,000	9,000


		At 30 September 2022	92,000	92,000
		Net book values
		At 30 September 2022	59,350	59,350
		At 30 September 2021	68,350	68,350

7	Stocks
			2022	2021
			£	£


		Finished goods	24,086	36,392
			24,086	36,392

8	Debtors
			2022	2021
			£	£
		Trade debtors	51,343	60,147
		Amounts owed by group undertakings	891,806	802,508


		VAT recoverable	14,634	8,420


		Prepayments and accrued income	-	22,968
			957,783	894,043

9	Creditors:
		amounts falling due within one year
			2022	2021
			£	£




		Trade creditors	23,633	38,018
		Amounts owed to group undertakings	425,544	279,523
		Taxes and social security	11,468	17,810
		Loans from directors	531	5,854
		Other creditors	117,860	8,577
		Accruals and deferred income	40,060	40,317
			619,096	390,099

10	Creditors:
		amounts falling due after more than one year
			2022	2021
			£	£

		Bank loans and overdrafts	63,173	104,227
		Other loans	100,000	250,000





			163,173	354,227

		Liabilities repayable in more than five years after the balance sheet date
		Amount repayable by instalments	63,172	104,267

			63,172	104,267

11	Creditors: secured liabilities
			2022	2021
			£	£
		The aggregate amount of secured liabilities included within creditors	63,172	104,267

Share Capital

The company has 100 Ordinary Shares of £1 each in issue.

Reserves

Profit and loss account - includes all current and prior period retained profits and losses.

14	Dividends
			2022	2021
			£	£
		Dividends for the period:
		Dividends paid in the period	50,000	30,000

			50,000	30,000

		Dividends by type:
		Non-equity preference dividends	-	-
		Equity dividends	50,000	30,000
			50,000	30,000

		Dividends proposed before the approval of the accounts	50,000	30,000

Related party disclosures

Transactions with related parties

Parent Company

The name of the parent of the smallest group for which consolidated financial statements are drawn up of which this entity is a member:

NSKB Holdings Limited

The parent's registered office address is:

42 Christchurch Avenue

Kenton

Harrow HA3 8NJ

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