REGISTERED NUMBER:
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BFA HOLDINGS LIMITED |
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Unaudited Financial Statements |
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for the Year Ended 31 July 2022 |
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REGISTERED NUMBER:
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BFA HOLDINGS LIMITED |
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Unaudited Financial Statements |
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for the Year Ended 31 July 2022 |
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BFA HOLDINGS LIMITED (REGISTERED NUMBER: 05768571) |
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Contents of the Financial Statements |
for the year ended 31 July 2022 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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BFA HOLDINGS LIMITED |
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Company Information |
for the year ended 31 July 2022 |
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Director: |
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Registered office: |
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Registered number: |
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Accountants: |
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Chartered Accountants |
250 Fowler Avenue |
Farnborough |
Hampshire |
GU14 7JP |
BFA HOLDINGS LIMITED (REGISTERED NUMBER: 05768571) |
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Balance Sheet |
31 July 2022 |
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2022 | 2021 |
Notes | £ | £ |
Current assets |
Stocks |
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Debtors | 4 |
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Cash at bank |
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Creditors |
Amounts falling due within one year | 5 |
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Net current liabilities | ( |
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Total assets less current liabilities | ( |
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Capital and reserves |
Called up share capital | 6 |
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Share premium |
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Retained earnings | ( |
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Shareholders' funds | ( |
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The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
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In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
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The financial statements were approved by the director and authorised for issue on
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BFA HOLDINGS LIMITED (REGISTERED NUMBER: 05768571) |
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Notes to the Financial Statements |
for the year ended 31 July 2022 |
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1. | Statutory information |
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BFA Holdings Limited is a
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2. | Accounting policies |
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Accounting convention |
These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The financial statements have been prepared under the historical cost convention. |
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Reporting period |
The prior year period was extended to 15 months in order to align the year end with the connected company controlled by the Director. Therefore, the comparative amounts presented in the financial statements and notes are not entirely comparable. |
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Tangible fixed assets |
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. |
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Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: |
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Fixtures and fittings 3 Years Straight Line |
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The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss. |
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Turnover |
Turnover represents amounts receivable for goods and services net of VAT. |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and |
slow moving items. |
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Financial instruments |
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. |
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Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. |
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Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
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Basic financial assets |
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction |
is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. |
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Classification of financial liabilities |
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. |
BFA HOLDINGS LIMITED (REGISTERED NUMBER: 05768571) |
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Notes to the Financial Statements - continued |
for the year ended 31 July 2022 |
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2. | Accounting policies - continued |
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Basic financial liabilities |
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. |
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Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. |
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Foreign exchange |
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss. |
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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 current liabilities. |
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3. | Employees and directors |
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The average number of employees during the year was
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4. | Debtors: amounts falling due within one year |
2022 | 2021 |
£ | £ |
Other debtors |
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5. | Creditors: amounts falling due within one year |
2022 | 2021 |
£ | £ |
Trade creditors |
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Other creditors |
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6. | Called up share capital |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2022 | 2021 |
value: | £ | £ |
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Ordinary shares | £0.10 | 998 | 998 |
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Redeemable shares | £0.10 | 651 | 651 |
1,649 | 1,649 |