for the Period Ended 31 December 2021
Directors report | |
Profit and loss | |
Balance sheet | |
Additional notes | |
Balance sheet notes |
Directors' report period ended
The directors present their report with the financial statements of the company for the period ended 31 December 2021
Principal activities of the company
Directors
The director shown below has held office during the whole of the period from
1 January 2021 to 31 December 2021
The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006
This report was approved by the board of directors on
And signed on behalf of the board by:
Name:
Status: Director
for the Period Ended
2021 | 2020 | |
---|---|---|
| £ | £ |
Turnover: | | |
Cost of sales: | | |
Gross profit(or loss): | | |
Distribution costs: | | |
Administrative expenses: | ( | ( |
Other operating income: | | |
Operating profit(or loss): | ( | ( |
Profit(or loss) before tax: | ( | ( |
Tax: | | |
Profit(or loss) for the financial year: | ( | ( |
As at
Notes | 2021 | 2020 | |
---|---|---|---|
| £ | £ | |
Called up share capital not paid: | | | |
Fixed assets | |||
Intangible assets: | | | |
Tangible assets: | | | |
Investments: | 3 | | |
Total fixed assets: | | | |
Current assets | |||
Stocks: | | | |
Debtors: | | | |
Cash at bank and in hand: | | | |
Investments: | | | |
Total current assets: | | | |
Prepayments and accrued income: | | | |
Creditors: amounts falling due within one year: | 4 | ( | |
Net current assets (liabilities): | | | |
Total assets less current liabilities: | | | |
Creditors: amounts falling due after more than one year: | | | |
Provision for liabilities: | | | |
Accruals and deferred income: | | | |
Total net assets (liabilities): | | | |
Capital and reserves | |||
Called up share capital: | | | |
Share premium account: | | | |
Other reserves: | | | |
Profit and loss account: | ( | ( | |
Total Shareholders' funds: | | |
The notes form part of these financial statements
This report was approved by the board of directors on
and signed on behalf of the board by:
Name:
Status: Director
The notes form part of these financial statements
for the Period Ended 31 December 2021
Basis of measurement and preparation
Turnover policy
Valuation information and policy
Other accounting policies
for the Period Ended 31 December 2021
2021 | 2020 | |
---|---|---|
Average number of employees during the period | | |
for the Period Ended 31 December 2021
Basic financial assets, including trade and other receivables, loans and cash and cash equivalents are initially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost using the effective interest method. At the end of each reporting year financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated statement of cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Comprehensive Income. If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in the Statement of Comprehensive Income. The investments of the Company are all non-public investments. These investments are included initially in the financial statements at fair value and are also subsequently carried at fair value. The changes in fair value are recognised in the Statement of Comprehensive Income, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment. The valuation of these investments requires significant judgement by the Director due to the absence of quoted market values, inherent lack of liquidity and the long-term nature of such assets. The fair value is as determined by the Director, and typically on the basis of the price of recent investment or on a benchmarking of public market comparable earnings multiples, but other factors are also considered. The methodologies are considered to be consistent with the International Private Equity and Venture Capital Valuation Guidelines. The Directoralso considers the valuations provided by the lead private equity funds, however in the case of a significant difference the Director will apply its own valuation of the underlying investment. Gains or losses on investments are recognised in the Statement of Comprehensive Income. The underlying assets comprise unquoted investments and because of the inherent uncertainty of valuing such investments the values which will be ultimately realised through future transactions may differ significantly from the valuation of such investments. Investments are held with the intention of resale and the actual realised proceeds will depend on the future trading results and conditions existing at the date of sale. The eventual realisation proceeds will inevitably differ from the current estimated fair value amount and these differences could be significant. Financial assets are derecognised when (a) the contractual rights to the statement of cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
for the Period Ended 31 December 2021
2021 | 2020 | |
---|---|---|
£ | £ | |
Bank loans and overdrafts | | |
Amounts due under finance leases and hire purchase contracts | | |
Trade creditors | | |
Taxation and social security | | |
Accruals and deferred income | | |
Other creditors | | |
Total | | |