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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2020 |
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BLAY ENTERPRISES LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2020 |
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FOR |
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BLAY ENTERPRISES LIMITED |
BLAY ENTERPRISES LIMITED (REGISTERED NUMBER: 11049752) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
For The Year Ended 30 November 2020 |
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Company Information | 1 |
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Abridged Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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BLAY ENTERPRISES LIMITED |
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COMPANY INFORMATION |
For The Year Ended 30 November 2020 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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BLAY ENTERPRISES LIMITED (REGISTERED NUMBER: 11049752) |
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ABRIDGED BALANCE SHEET |
30 November 2020 |
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2020 | 2019 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The director acknowledges her 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 Statement of Income and Retained Earnings 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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BLAY ENTERPRISES LIMITED (REGISTERED NUMBER: 11049752) |
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NOTES TO THE FINANCIAL STATEMENTS |
For The Year Ended 30 November 2020 |
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1. | STATUTORY INFORMATION |
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Blay Enterprises Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
The financial statements have been prepared in accordance with the provisions of Section 1A ''Smaller Entities'' of Financial Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
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Turnover |
Turnover represents sales of programming and broadcasting services, excluding value added tax, performed during the year. |
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Turnover is recognised as the right to consideration arises and adjustments are made for accrued and deferred income. |
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Tangible fixed assets |
Tangible fixed assets are stated at cost or valuation less accumulated depreciation. Cost includes directly attributable to making the asset capable of operating as intended by management. |
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Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
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Fixtures and fittings | - | 25% on cost |
Computer equipment | - | 33.33% on cost |
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Financial instruments |
The company enters into basic financial instruments, which result in the recognition of financial assets and liabilities. Financial instruments are recognised at amortised cost. At the end of each reporting period financial instruments are assessed for evidence of impairment, and changes are recognised in profit or loss. |
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Taxation |
Taxation for the year comprises current 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 tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. |
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Consideration is given to whether deferred tax should be provided in respect of material timing differences which have not reversed at the balance sheet date. Deferred tax assets are only recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or future taxable profits. |
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Current tax assets and liabilities are not discounted and are 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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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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BLAY ENTERPRISES LIMITED (REGISTERED NUMBER: 11049752) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 30 November 2020 |
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4. | TANGIBLE FIXED ASSETS |
Totals |
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COST |
At 1 December 2019 |
and 30 November 2020 |
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DEPRECIATION |
At 1 December 2019 |
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Charge for year |
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At 30 November 2020 |
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NET BOOK VALUE |
At 30 November 2020 |
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At 30 November 2019 |
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5. | POST BALANCE SHEET EVENTS |
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During the year, the World Health Organisation declared Covid-19 a pandemic and subsequently the UK went into lockdown on 24 March 2020. The restrictions were lifted in June 2020, however there have been further lockdowns since the balance sheet date. |
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The company has been unable to retain contracts while restrictions have been put in place, which has had a significant impact upon sales in the new financial year. |
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It is anticipated that the impact on sales will continue until the restrictions have been lifted, however it is not known when this will be. |
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As such, the full financial implications of this situation on the business cannot yet be estimated, however it is our expectation that once the UK recovers from this unusual situation, sales will return to previous levels. |