Company Registration No. 04084655 (England and Wales)
BET DELTA LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2018
PAGES FOR FILING WITH REGISTRAR
BET DELTA LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
BET DELTA LIMITED
BALANCE SHEET
AS AT 31 OCTOBER 2018
31 October 2018
- 1 -
2018
2017
Notes
£
£
£
£
Fixed assets
Intangible assets
3
138,855
145,430
Tangible assets
4
1,558
1,564
140,413
146,994
Current assets
Debtors
5
7,019
37,905
Cash at bank and in hand
74,192
78,729
81,211
116,634
Creditors: amounts falling due within one year
6
(3,631)
(1,153)
Net current assets
77,580
115,481
Total assets less current liabilities
217,993
262,475
Provisions for liabilities
(264)
(229)
Net assets
217,729
262,246
Capital and reserves
Called up share capital
7
50,000
450,000
Profit and loss reserves
167,729
(187,754)
Total equity
217,729
262,246
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 October 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
BET DELTA LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2018
31 October 2018
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 31 July 2019 and are signed on its behalf by:
Mr S Spiby
Director
Company Registration No. 04084655
BET DELTA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2018
- 3 -
1
Accounting policies
Company information
Bet Delta Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
4 Comice Gardens, Brinsley, Nottingham, NG16 5BL.
1.1
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 are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
Turnover is recognised when services are provided.
1.3
Intangible fixed assets - goodwill
For the purposes of impairment testing,
each betting pitch
is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.
1.4
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.
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:
Plant and machinery
25% on cost
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
.
1.5
Cash at bank and in hand
Cash at bank and in hand
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.
BET DELTA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2018
1
Accounting policies
(Continued)
- 4 -
Basic financial assets
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.
Basic financial liabilities
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest method.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 3 (2017 : 3).
3
Intangible fixed assets
Goodwill
£
Cost
At 1 November 2017
145,430
Disposals
(6,575)
At 31 October 2018
138,855
Amortisation and impairment
At 1 November 2017 and 31 October 2018
-
Carrying amount
At 31 October 2018
138,855
At 31 October 2017
145,430
BET DELTA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2018
- 5 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 November 2017
29,867
Additions
1,077
At 31 October 2018
30,944
Depreciation and impairment
At 1 November 2017
28,303
Depreciation charged in the year
1,083
At 31 October 2018
29,386
Carrying amount
At 31 October 2018
1,558
At 31 October 2017
1,564
5
Debtors
2018
2017
Amounts falling due within one year:
£
£
Trade debtors
7,019
7,174
Other debtors
-
30,731
7,019
37,905
6
Creditors: amounts falling due within one year
2018
2017
£
£
Corporation tax
463
-
Other creditors
3,168
1,153
3,631
1,153
7
Called up share capital
2018
2017
£
£
Ordinary share capital
Issued and fully paid
1 Ordinary of £1 each
50,000
450,000
BET DELTA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2018
7
Called up share capital
(Continued)
- 6 -
Reconciliation of movements during the year:
Ordinary
Number
At 1 November 2017
450,000
Reduction of share capital
(400,000)
At 31 October 2018
50,000