REGISTERED NUMBER:
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Boul Traders Limited |
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Report of the Director and |
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Unaudited Financial Statements |
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For The Period 1st December 2019 to 31st May 2021 |
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REGISTERED NUMBER:
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Boul Traders Limited |
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Report of the Director and |
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Unaudited Financial Statements |
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For The Period 1st December 2019 to 31st May 2021 |
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Boul Traders Limited (Registered number: 10488661) |
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Contents of the Financial Statements |
For The Period 1st December 2019 to 31st May 2021 |
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Company Information | 1 |
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Report of the Director | 2 | to | 4 |
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Chartered Accountants' Report | 5 |
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Income Statement | 6 |
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Balance Sheet | 7 |
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Notes to the Financial Statements | 8 | to | 9 |
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Boul Traders Limited |
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Company Information |
For The Period 1st December 2019 to 31st May 2021 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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310 Wellingborough Road |
Northampton |
NN1 4EP |
Boul Traders Limited (Registered number: 10488661) |
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Report of the Director |
For The Period 1st December 2019 to 31st May 2021 |
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The director presents his report with the financial statements of the company for the period 1st December 2019 to 31st May 2021. |
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In the summer of 2015, Bowls was unusually subject to National Press coverage including |
- The Daily Telegraph "Indoor bowls community rocked by scandal. Police were called in when up to £450,000 went missing from a tournament's accounts"; and |
- The Sun "Kicked in the Bowls" after an attempt to run a "World Series Bowls" series of events spectacularly failed. |
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There was considerable speculation about what happened, including allegations of Fraud, with the World Wide Bowling community enjoying the press coverage and fueling rumours that Russia was involved. |
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With allegations of Fraud, ACTION Fraud was alerted and they began to collate evidence to assess if the threshold for Police investigation was reached. After many months of collecting and assessing evidence, ACTION Fraud decided the investigation threshold was reached and allocated the case to West Yorkshire Police. This was where the Bank account used to receive significant amounts of money was based. |
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After waiting over a year to see if justice would be forthcoming the 'World Series Bowls ®' team including an experienced Finance Professional and ex-Policeman was formed. It was then decided to Incorporate 'Boul Traders Limited' this company, in November 2016 with the sole purpose of taking legal advice from an International firm of Lawyers Ronald Fletcher Baker LLP (i) with an office in Russia. |
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The legal advice identified a number of different laws which may have been broken in respect of 'World Series Bowls ®', so it was decided to support the Police to seek justice by |
- One of the team members at the request of the Police, being the central point of contact with the Police on behalf of those losing money. |
- Locating key individuals and obtaining statements |
- Gaining evidence for the Police to use as part of the case |
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The work undertaken did facilitate an alleged suspect to be arrested, questioned, released for further police investigation with a crime number issued in December 2017/ early 2018. |
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After a review of the case file, the CPS decided in Q1 2018 and it is worth a read in the context of UK policing in an E-mail to Mark Courtney, the Police appointed Central point of contact with the Police. [These comments have been added by Mark Courtney to allow the readers of the accounts a better understanding of the facts] |
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" Under the current WYP [West Yorkshire Police] fraud investigation policy, the circumstances which surround this crime would not have passed the threshold for investigation and would have never been passed to the CID [Criminal Investigation Department] department to be progressed. I appreciate that this particular crime occurred prior to the current WYP fraud investigation policy being implemented, but the current policy does allow for a review of any fraud investigation at a significant point in the investigation. The case being presented to and reviewed by CPS [Crown Prosecution Service] would be classed as a significant point. As a result, the current WYP fraud investigation policy has been applied to this investigation and the decision was made that this matter should [would?] not have been investigated by the police and no further investigation should take place for the following reasons; |
- In relation to the investment by the directors [as per Companies House on 1 July just prior to the failure of World Series Bowls ® the Directors were Mr Stephen Roberts who according to Companies House resigned on 8 July 2015 but not reported until 14 August 2015 when Companies House requires changes to be reported within 15 days, & Mr Robert Palser who on 8 July 2015 become the sole remaining Director until a Compulsory Dissolution of the company just over 2 years later 15 August 2017 with NO ACCOUNTS being filed despite invoices being issued, contracts signed and monies being collected and bills paid], they have done so of their own volition and have a chosen not to employ any legal protection (contracts etc.) [Contracts were issued] and have not taken any legal advice. The directors should have shown due diligence in relation to this. |
- The directors have allowed one individual to control the company bank account [our understanding is it was a personal bank account which only became clear after the failure] and no checks or balances of this account appear to have ever taken place. [Including we believe NatWest see comments below]. This is unwise by any persons standards. |
- In relation to the bowlers, only around a third of those affected have actually made a formal complaint [that's seems a decent number to support the work on the police] and the financial loss to those who have complained would be seen as minimal [it would have been helpful if this statement defined minimal]. |
- There is a civil remedy which has been considered and is available to pursue. [We thank the police for considering our Civil Remedy Proposal via a formal legal agreement to repay a significant amount of loses and costs £30,000 and agreeing it is available for those losing money to pursue] |
- With the competing demands which the Police face, this matter has to be balanced against other matters of fraud where the victims have employed all due diligence and still fallen victim to fraud. The relevant persons actions in this matter could be described as rash / cavalier in their approach. As a result they have left themselves vulnerable to fraud and a fraud has taken place with the expectation being the police should resolve.[Those who have supported and contributed to the work by the 'World Series Bowls ™' Team, including ex-Police officers take a different view noting a crime is a crime and there is a risk without a Police Prosecution an individual MAY gain confidence and commit further crimes] |
Boul Traders Limited (Registered number: 10488661) |
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Report of the Director |
For The Period 1st December 2019 to 31st May 2021 |
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I fully appreciate that this is not the news you expected or wanted to hear. |
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With regards to what information I can / cannot release to you to assist in any civil investigation of this matter, I have taken advise from my supervision knowing that this would be requested. I have been advised to inform you that any information you require should be requested via the West Yorkshire Police Force Solicitor, who will be able to advise what can and cannot be released to you and the process required to obtain this information. [We have followed this process without success]. |
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The World Series Bowls ® team have found evidence of further alleged criminal activity, including possible VAT issues. These have been reported to the police as significant new relevant information which we believe should allow the Police to reopen the World Series Bowls ® case and pursue a prosecution in the public interest and in line with the Current "West Yorkshire Police fraud investigation policy" |
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With the new evidence, the Civil remedy in place, confirmed by the WYPD statement, the company has included £6,000 being a small proportion (10%) of the total costs incurred by the company (circa £60,000 excluding for example time costs) in these accounts. |
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The company has been keen for something positive to "Rise from the Ashes" of 'World Series Bowls ® |
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- This includes the sport of Bowls learning the lessons as to what needs to improve so that there can never again be another 'World Series Bowls ® |
o granting a conditional license to run tournaments |
o the official umpiring body had planned to provide umpires then withdrew them just before the first tournament |
o there were various rumours that were never formally reported or investigated as in isolation they could have been viewed as "one offs" / local differences of opinion |
o BUT taken together via a formal Grievance reporting process [which does not appear to exist] this would have raised awareness so clubs and competitors would have been able to make a decision with full knowledge rather than partial "hear say" knowledge. |
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The Company will continue to work with the 'World Series Bowls ®' team to seek justice and look to recover some monies for those who can provide the necessary legal proof they lost money from 'World Series Bowls ®' |
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We are grateful to the help and support from our Trademark Lawyers Withers & Rogers, leading intellectual property (IP) law firm (withersrogers.com) who have helped us secure a Registered Trademark for 'World Series Bowls®' UK00003413596 and helping us defend the trademark against a Major US Sporting body whose UK lawyer felt their client has the sole right to use the words "World Series" and that the public may confuse Bowls and their sport. |
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The company decided to extend its accounting period to allow the accounts to be produced during the summer and before the indoor bowling season starts in earnest generally October which is when those losing money from "World Series Bowls ™" will be playing bowls. |
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This has had the addition unforeseen benefit that we can include reference to a potentially Significant Post Balance Sheet event namely "NatWest Bank" the "World Series Bowls ®" Bankers pleading guilty to failing to comply with "Money Laundering Regulations" as reported on the 'Financial Conduct Authority' "FCA" website on 7 October 2021 NatWest Plc pleads guilty in criminal proceedings | FCA |
"NatWest accepts that it failed to comply with regulation 8(1) between 7 November 2013 until 23 June 2016; and regulations 8(3) and 14(1) between 8 November 2012 until 23 June 2016 under MLR 2007 in relation to the accounts of a UK incorporated customer. These regulations require certain firms, including those regulated by the FCA, to ensure they have adequate anti-money laundering systems and controls to prevent money laundering. |
The case has now been referred to the Southwark Crown Court for sentencing. |
This is the first criminal prosecution under the MLR 2007 by the FCA." |
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As noted by West Yorkshire Police in their statement above "allowed one individual to control the company bank account and no checks or balances of this account appear to have ever taken place. This is unwise by any persons standards." We believe that "NatWest Bank" should have been complying with "MLR 2007" which would have involved NatWest Bank applying "checks or balances" that West Yorkshire Police noted never took place and was quoted by West Yorkshire Police as one of the contributory factors to the "CPS's" decision not to pursue criminal proceedings. |
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We believe we have found evidence that NatWest did not comply with money laundering regulations "MLR 2007" in respect of 'World Series Bowls ®' in the period from March 2015 to August 2015 which we believe significantly contributed to the loses in respect of "World Series Bowls ®" |
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(i) www.rfblegal.co.uk for over fifty years, Ronald Fletcher Baker LLP has been providing expert advice from its offices in the City of London, the West End, Manchester, and internationally via its office in Istanbul and its Russia, Ukraine & CIS Desk. |
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Boul Traders Limited (Registered number: 10488661) |
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Report of the Director |
For The Period 1st December 2019 to 31st May 2021 |
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DIRECTOR |
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STATEMENT OF DIRECTOR'S RESPONSIBILITIES |
The director is responsible for preparing the Report of the Director and the financial statements in accordance with applicable law and regulations. |
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Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to: |
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- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
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The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
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This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
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ON BEHALF OF THE BOARD: |
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Chartered Accountants' Report to the Director |
on the Unaudited Financial Statements of |
Boul Traders Limited |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Boul Traders Limited for the period ended 31st May 2021 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
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As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
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This report is made solely to the director of Boul Traders Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Boul Traders Limited and state those matters that we have agreed to state to the director of Boul Traders Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Boul Traders Limited and its director for our work or for this report. |
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It is your duty to ensure that Boul Traders Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Boul Traders Limited. You consider that Boul Traders Limited is exempt from the statutory audit requirement for the period. |
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We have not been instructed to carry out an audit or a review of the financial statements of Boul Traders Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
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310 Wellingborough Road |
Northampton |
NN1 4EP |
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Boul Traders Limited (Registered number: 10488661) |
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Income Statement |
For The Period 1st December 2019 to 31st May 2021 |
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Period |
1.12.19 |
to | Year ended |
31.5.21 | 30.11.19 |
£ | £ |
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TURNOVER |
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Administrative expenses | ( |
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OPERATING PROFIT/(LOSS) |
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Interest receivable and similar income |
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6,564 | (30,990 | ) |
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Interest payable and similar expenses | ( |
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PROFIT/(LOSS) BEFORE TAXATION |
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Tax on profit/(loss) |
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PROFIT/(LOSS) FOR THE FINANCIAL
PERIOD |
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Boul Traders Limited (Registered number: 10488661) |
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Balance Sheet |
31st May 2021 |
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2021 | 2019 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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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 | 8 |
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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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The financial statements were approved by the director and authorised for issue on
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Boul Traders Limited (Registered number: 10488661) |
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Notes to the Financial Statements |
For The Period 1st December 2019 to 31st May 2021 |
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1. | STATUTORY INFORMATION |
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Boul Traders Limited is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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The principal activity of the company in the period under review was that of the provision of financial services and the working with the indoor bowls organizations to promote the game. |
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2. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
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Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the period was NIL (2019 - NIL). |
Boul Traders Limited (Registered number: 10488661) |
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Notes to the Financial Statements - continued |
For The Period 1st December 2019 to 31st May 2021 |
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5. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
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COST |
At 1st December 2019 |
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Disposals | ( |
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At 31st May 2021 |
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NET BOOK VALUE |
At 31st May 2021 |
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At 30th November 2019 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2019 |
£ | £ |
Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2019 |
£ | £ |
Other creditors |
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8. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2021 | 2019 |
value: | £ | £ |
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Ordinary | £1 | 100 | 100 |
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9. | CONTINGENT LIABILITIES |
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There were no contingent liabilities as at 31st May 2021 or 30th November 2019. |
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10. | CAPITAL COMMITMENTS |
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There were no capital commitments as at 31st May 2021 or 30th November 2019. |