Company Registration No. 04084655 (England and Wales)
BET DELTA LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2017
PAGES FOR FILING WITH REGISTRAR
BET DELTA LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 7
BET DELTA LIMITED
BALANCE SHEET
AS AT
31 OCTOBER 2017
31 October 2017
- 1 -
2017
2016
Notes
£
£
£
£
Fixed assets
Intangible assets
4
145,430
203,950
Tangible assets
5
1,564
1,496
Current assets
Debtors
6
37,905
3,394
Cash at bank and in hand
78,729
84,767
116,634
88,161
Creditors: amounts falling due within one year
7
(1,153)
(25,728)
Net current assets
115,481
62,433
Total assets less current liabilities
262,475
267,879
Provisions for liabilities
(229)
(247)
Net assets
262,246
267,632
Capital and reserves
Called up share capital
8
450,000
450,000
Profit and loss reserves
(187,754)
(182,368)
Total equity
262,246
267,632
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 2017 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 2017
31 October 2017
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 30 July 2018 and are signed on its behalf by:
Mr S Spiby
Director
Company Registration No. 04084655
BET DELTA LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 OCTOBER 2017
- 3 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 November 2015
450,000
(184,856)
265,144
Year ended 31 October 2016:
Profit and total comprehensive income for the year
-
2,488
2,488
Balance at 31 October 2016
450,000
(182,368)
267,632
Year ended 31 October 2017:
Loss and total comprehensive income for the year
-
(5,386)
(5,386)
Balance at 31 October 2017
450,000
(187,754)
262,246
BET DELTA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2017
- 4 -
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, 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, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
These financial statements for the year ended 31 October 2017
are the
first
financial statements of Bet Delta Limited prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 was 1 November 2015. The reported financial position and financial performance for the previous period are not affected by the transition to FRS 102.
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
.
BET DELTA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2017
1
Accounting policies
(Continued)
- 5 -
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.
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
Exceptional costs
2017
2016
£
£
Sale of pitch
8,520
(7,250)
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was 3 (2016 : 3).
BET DELTA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2017
- 6 -
4
Intangible fixed assets
Goodwill
£
Cost
At 1 November 2016
203,950
Disposals
(58,520)
At 31 October 2017
145,430
Amortisation and impairment
At 1 November 2016 and 31 October 2017
-
Carrying amount
At 31 October 2017
145,430
At 31 October 2016
203,950
5
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 November 2016
29,030
Additions
837
At 31 October 2017
29,867
Depreciation and impairment
At 1 November 2016
27,534
Depreciation charged in the year
769
At 31 October 2017
28,303
Carrying amount
At 31 October 2017
1,564
At 31 October 2016
1,496
6
Debtors
2017
2016
Amounts falling due within one year:
£
£
Trade debtors
7,174
3,394
Other debtors
30,731
-
37,905
3,394
BET DELTA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2017
- 7 -
7
Creditors: amounts falling due within one year
2017
2016
£
£
Corporation tax
-
3,280
Other creditors
1,153
22,448
1,153
25,728
8
Called up share capital
2017
2016
£
£
Ordinary share capital
Issued and fully paid
450,000 Ordinary of £1 each
450,000
450,000
450,000
450,000
9
Directors' transactions
Description
% Rate
Opening balance
Amounts advanced
Interest charged
Closing balance
£
£
£
£
B Welch
3.00
(10,114)
41,623
321
31,830
(10,114)
41,623
321
31,830
10
Ultimate controlling party
The company is controlled by S Spiby by virtue of his 67% interest in the issued equity of the company.