Company No: 03439596 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	31.03.2023		30.09.2021
		£		£
Fixed assets
Tangible assets	3	0		18,811
		0		18,811
Current assets
Debtors	4	24,793		33,992
Cash at bank and in hand		22,248		19,564
		47,041		53,556
Creditors: amounts falling due within one year	5	( 77,989)		( 113,065)
Net current liabilities		(30,948)		(59,509)
Total assets less current liabilities		(30,948)		(40,698)
Net liabilities		( 30,948)		( 40,698)
Capital and reserves
Called-up share capital	6	80		80
Share premium account		32,980		32,980
Capital redemption reserve		15		15
Profit and loss account		( 64,023 )		( 73,773 )
Total shareholders' deficit		( 30,948)		( 40,698)

For the financial period ending 31 March 2023 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 financial period in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of BCH (Bristol) Ltd. (registered number: 03439596) were approved and authorised for issue by the Board of Directors on 27 March 2024. They were signed on its behalf by:

Christian Coe Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

BCH (Bristol) Ltd. (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 5th Floor Salt Quay House, 4 North East Quay, Sutton Harbour, Plymouth, PL4 0BN, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Reporting period length

These financial statements have been prepared for a period of 18 months, due to changes in ownership within the period. As a result of this, the comparative amounts presented in the financial statements (including the related notes) are not entirely comparable.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial period. Differences between contributions payable in the financial period and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Office equipment

25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

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, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

	Period from 01.10.2021 to 31.03.2023		Year ended 30.09.2021
	Number		Number
Monthly average number of persons employed by the Company during the period, including directors	3		5

3. Tangible assets

	Office equipment		Total
	£		£
Cost
At 01 October 2021	145,759		145,759
Disposals	( 145,759)		( 145,759)
At 31 March 2023	0		0
Accumulated depreciation
At 01 October 2021	126,948		126,948
Disposals	( 126,948)		( 126,948)
At 31 March 2023	0		0
Net book value
At 31 March 2023	0		0
At 30 September 2021	18,811		18,811

4. Debtors

	31.03.2023		30.09.2021
	£		£
Trade debtors	0		1,349
Prepayments and accrued income	6,900		14,796
Other taxation and social security	17,858		17,812
Other debtors	35		35
	24,793		33,992

5. Creditors: amounts falling due within one year

	31.03.2023		30.09.2021
	£		£
Trade creditors	15		12,016
Accruals	3,864		2,750
Other taxation and social security	2,883		3,090
Other creditors	71,227		95,209
	77,989		113,065

There are no amounts included above in respect of which any security has been given by the small entity.

6. Called-up share capital

	31.03.2023		30.09.2021
	£		£
Allotted, called-up and fully-paid
15 Ordinary B shares of £ 1.00 each	15		15
55 Ordinary shares of £ 1.00 each	55		55
10 Ordinary C shares of £ 1.00 each	10		10
	80		80

7. Financial commitments

Pensions

The Company operated a defined contribution pension scheme for the directors and employees during the year. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension scheme ceased in June 2022.

	31.03.2023		30.09.2021
	£		£
Pension fund	0		209

8. Related party transactions

Transactions with owners holding a participating interest in the entity

	31.03.2023		30.09.2021
	£		£
Sales made to owners holding a participating interest in the entity	40,604		0
Purchases made from owners holding a participating interest in the entity	(12,694)		0

During the year, shares in the Company were purchased by another company undertaking telecommunication activities. The transactions were concluded at arms length under market rate conditions.

Other related party transactions

At the year end, a company owed £71,227 (2021: £95,000) to a company controlled by two of the Company's former shareholder directors. Post year end, this loan has been partially repaid, with the remaining loan written off.

9. Events after the Balance Sheet date

Included within other creditors at the year end is £71,227 owed to company that was previously under common control, prior to the ownership changes during the year. Post year end, a payment of £17,812 was made towards this loan. The remaining balance of £53,415 was subsequently written off under the agreement of all parties.

10. Reserves

Capital redemption reserve

Included in the capital redemption reserve is £15 relating to the buyback of Ordinary B shares during the prior year.