221B Limited - Period Ending 2017-09-30

Registration number: 06909965

221B Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2017

Capys Limited
7 Molyneux Street
London
W1H 5HP

221B Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Financial Statements	3 to 7

221B Limited

Company Information

Directors

Andrea von Ehrenstein Laura von Ehrenstein

Registered office

Mezzanine Floor 19 19 - 21 Crawford Street London W1H 1PJ

Accountants

Capys Limited 7 Molyneux Street London W1H 5HP

Page 1

221B Limited

(Registration number: 06909965)
Balance Sheet as at 30 September 2017

	Note	2017 £	2016 £
Current assets
Debtors	4	401,523	137,344
Cash at bank and in hand		778,553	895,822
		1,180,076	1,033,166
Creditors: Amounts falling due within one year	5	(1,165,720)	(1,003,204)
Net assets		14,356	29,962
Capital and reserves
Called up share capital	6	100	100
Profit and loss account		14,256	29,862
Total equity		14,356	29,962

For the financial year ending 30 September 2017 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 21 June 2018 and signed on its behalf by:
 

.........................................

Laura von Ehrenstein
Director

The notes on pages 3 to 7 form an integral part of these financial statements.

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221B Limited

Notes to the Financial Statements for the Year Ended 30 September 2017

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Mezzanine Floor 19
19 - 21 Crawford Street
London
W1H 1PJ
United Kingdom

The principal place of business is:
221b Baker Street
London
NW1 6XE

These financial statements were authorised for issue by the Board on 21 June 2018.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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221B Limited

Notes to the Financial Statements for the Year Ended 30 September 2017

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 23 (2016 - 23).

4

Debtors

	Note	2017 £	2016 £
Amounts owed by group undertakings and undertakings in which the company has a participating interest	8	137,344	137,344
Other debtors		264,179	-
		401,523	137,344

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221B Limited

Notes to the Financial Statements for the Year Ended 30 September 2017

5

Creditors

Creditors: amounts falling due within one year

	Note	2017 £	2016 £
Due within one year
Trade creditors		426,696	70,630
Amounts owed to group undertakings and undertakings in which the company has a participating interest	8	-	86,737
Taxation and social security		240,524	361,851
Other creditors		498,500	483,986
		1,165,720	1,003,204

6	Share capital

Allotted, called up and fully paid shares

	2017		2016
	No.	£	No.	£
Ordinary of £1 each	100	100	100	100

7

Dividends

		2017		2016
		£		£
Interim dividend of £1,475,000.00 (2016 - £1,900,000.00) per ordinary share		1,475,000		1,900,000

8	Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

	2017 £	2016 £
Remuneration	358,597	30,000

Summary of transactions with entities with joint control or significant interest

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221B Limited

Notes to the Financial Statements for the Year Ended 30 September 2017

Rollerteam Limited - Andrea Aidiniantz is a director and majority shareholder in Rollerteam Limited
 Rollerteam Limited owns the premises from which 221B operates and makes a charge for rent and rates.
 

Expenditure with and payables to related parties

2017	Entities with joint control or significant influence £
Rendering of services	1,394,957

2016	Entities with joint control or significant influence £
Rendering of services	835,478

Loans to related parties

2017	Entities with joint control or significant influence £
At start of period	137,344

2016

Terms of loans to related parties

Sherlock Holmes Museum Limited - Andrea Aidiniantz is a director and majority shareholder in Rollerteam which is the sole shareholder of Sherlock Holmes Museum Limited.
The loan has no fixed term and is repayable on demand. At the balance sheet date the amount due from/(to) Sherlock Holmes Museum Limited was £137,344 (2015 - £137,344l).
 

Loans from related parties

2017	Entities with joint control or significant influence £
At start of period	86,737
Repaid	(86,737)
At end of period	-

2016

Terms of loans from related parties

Page 6

221B Limited

Notes to the Financial Statements for the Year Ended 30 September 2017

In addition Rollerteam Limited extended a loan to 221B Limited when the business started to provide working capital. The part of this loan that was of this loan was outstanding at the beginning of the year was paid off in full during the year.
 

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