Company Registration No. 10014555 (England and Wales)
BIRD BOX DISTRIBUTION LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2017
PAGES FOR FILING WITH REGISTRAR
BIRD BOX DISTRIBUTION LIMITED
COMPANY INFORMATION
Directors
P McKenzie
(Appointed 19 February 2016)
A Miller
(Appointed 1 May 2016)
A Avetisova
(Appointed 25 June 2016)
Company number
10014555
Registered office
2nd Floor
17 St Annes Court
London
W1F 0BQ
Accountants
Alliotts
4th Floor
Imperial House
15 Kingsway
London
WC2B 6UN
BIRD BOX DISTRIBUTION LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 5
BIRD BOX DISTRIBUTION LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
28 FEBRUARY 2017
28 February 2017
- 1 -
2017
Notes
£
£
Current assets
Trade and other receivables
3
223,926
Cash at bank and in hand
4,182
228,108
Current liabilities
4
(66,552)
Net current assets
161,556
Non-current liabilities
5
(153,836)
Net assets
7,720
Equity
Called up share capital
6
1,000
Retained earnings
6,720
Total equity
7,720
The directors of the company have elected not to include a copy of the income statement within the financial statements.
true
For the financial period ended 28 February 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
T
he directors acknowledge their responsibilities for complying with the requirements of the Act 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 period 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.
The financial statements were approved by the board of directors and authorised for issue on 18 August 2017 and are signed on its behalf by:
P McKenzie
Director
Company Registration No. 10014555
BIRD BOX DISTRIBUTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2017
- 2 -
1
Accounting policies
Company information
Bird Box Distribution Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
2nd Floor, 17 St Annes Court, London, W1F 0BQ.
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.
1.2
Revenue
Revenue is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.
1.3
Cash and cash equivalents
Cash and cash equivalents
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.
1.4
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset
, with
the net amounts presented in the financial statements
,
when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest
method 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.
Financial assets classified as receivable within one year are not amortised.
BIRD BOX DISTRIBUTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 28 FEBRUARY 2017
1
Accounting policies
(Continued)
- 3 -
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including trade and other payables are
initially recognised at transaction price unless the arrangement constitutes a
financing transaction, where the debt instrument is measured at the present value of
the future
paymen
ts discounted at a market rate of interest.
Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective
interest rate method.
Trade payables
are obligations to pay for goods or services that have been acquired
in the ordinary course of business from suppliers. A
m
ounts payable are classified as
current liabilities if payment is due within one year or less. If not, they are presented
as non-current liabilities. Trade payables are recognised initially at transaction price
and subsequently measured at amortised cost using the effective interest method.
1.5
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
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 income statement 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.
1.7
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or non-current assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was 5.
BIRD BOX DISTRIBUTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 28 FEBRUARY 2017
- 4 -
3
Trade and other receivables
2017
Amounts falling due within one year:
£
Amounts due from group undertakings
4,500
Other receivables
219,426
223,926
4
Current liabilities
2017
£
Trade payables
7,849
Corporation tax
2,805
Other taxation and social security
1,598
Other payables
54,300
66,552
5
Non-current liabilities
2017
£
Other payables
153,836
Other payables includes £150,000 invested by Miss Anna Avetisova on 25 May 2016 by way of a directors investment subordinated in favour of third party creditors.
6
Called up share capital
2017
£
Ordinary share capital
Issued and fully paid
1,000 A Ordinary shares of £1 each
1,000
Reconciliation of movements during the period:
A Ordinary
Number
At 19 February 2016
-
Issue of fully paid shares
1,000
At 28 February 2017
1,000
BIRD BOX DISTRIBUTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 28 FEBRUARY 2017
- 5 -
7
Related party transactions
The following amounts were outstanding at the reporting end date:
2017
Balance
Amounts owed by related parties
£
Other related parties
4,500