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Registration number: 01563275

Bold Communications Limited
 
  Unaudited Abbreviated Accounts
 
  for the Year Ended 31 December 2013
 

Wilds Ltd
  Chartered Accountants
  Lancaster House
  70-76 Blackburn Street
  Radcliffe
  Manchester
  M26 2JW

 

Bold Communications Limited
Contents

Abbreviated Balance Sheet

1 to 2

Notes to the Abbreviated Accounts

3 to 6

 

Bold Communications Limited
(Registration number: 01563275)
Abbreviated Balance Sheet at 31 December 2013

   

Note

    

2013
£

    

2012
£

  

Fixed assets

  

             

Tangible fixed assets

  

2

   

141,059

   

149,685

 

Investments

  

2

   

2

   

2

 
   

   

141,061

   

149,687

 

Current assets

  

             

Stocks

  

   

85,167

   

82,115

 

Debtors

  

3

   

360,632

   

500,707

 

Cash at bank and in hand

  

   

245,373

   

261,055

 
   

   

691,172

   

843,877

 

Creditors: Amounts falling due within one year

  

4

   

(381,864)

   

(426,770)

 

Net current assets

  

   

309,308

   

417,107

 

Total assets less current liabilities

  

   

450,369

   

566,794

 

Creditors: Amounts falling due after more than one year

  

4

   

(39,743)

   

(50,610)

 

Net assets

  

   

410,626

   

516,184

 

Capital and reserves

  

             

Called up share capital

 

5

   

250,873

   

250,873

 

Profit and loss account

  

   

159,753

   

265,311

 

Shareholders' funds

  

   

410,626

   

516,184

 

The notes on pages 3 to 6 form an integral part of these financial statements.
Page 1

 

Bold Communications Limited
(Registration number: 01563275)
Abbreviated Balance Sheet at 31 December 2013
......... continued

For the year ending 31 December 2013 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Approved by the Board on 9 June 2014 and signed on its behalf by:

.........................................
Mr B Kelly
Director

The notes on pages 3 to 6 form an integral part of these financial statements.
Page 2

 

Bold Communications Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2013
......... continued

1

Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Exemption from preparing group accounts

The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts.

Going concern

The directors consider that the use of the going concern basis of accounting is appropriate because there are no material uncertainties relating to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.

Turnover

The turnover shown in the profit and loss account represents amounts receivable for goods and services provided during the year, exclusive of Value Added Tax. In respect of long-term contracts and contracts for on-going services, turnover represents thevalue of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.

Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Asset class

Depreciation method and rate

Freehold property

4% straight line

Plant and machinery

20% straight line

Fixture and fittings

20% straight line

Office equipment

33% reducing balance

Fixed asset investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

Stock and work in progress

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Work in progress is valued on the basis of direct costs. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.



Page 3

 

Bold Communications Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2013
......... continued

Foreign currency

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange gains and losses are recognised in the profit and loss account.



Hire purchase and leasing

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Pensions

The company operates a defined contribution pension scheme and the pension charge in the profit and loss account represents the amounts payable by the company to the fund in respect of the year. The assets of the scheme are held separately from those of the company.

Page 4

 

Bold Communications Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2013
......... continued

2

Fixed assets

   

Tangible assets
£

    

Investments
£

    

Total
£

  

Cost

                  

At 1 January 2013

  

281,636

    

2

    

281,638

  

Additions

  

2,580

    

-

    

2,580

  

Disposals

  

(619)

   

-

    

(619)

 

At 31 December 2013

  

283,597

    

2

    

283,599

  

Depreciation

                  

At 1 January 2013

  

131,951

    

-

    

131,951

  

Charge for the year

  

11,168

    

-

    

11,168

  

Eliminated on disposals

  

(581)

   

-

    

(581)

 

At 31 December 2013

  

142,538

    

-

    

142,538

  

Net book value

                  

At 31 December 2013

  

141,059

   

2

   

141,061

 

At 31 December 2012

  

149,685

   

2

   

149,687

 

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Holding

Proportion of voting rights and shares held

Principal activity

Subsidiary undertakings

Bold Technologies Limited

Ordinary

100%

Dormant

Bold International Limited

Ordinary

100%

Dormant

3

Debtors

Debtors includes £81,604 (2012 - £201,977) receivable after more than one year.

 

Page 5

 

Bold Communications Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2013
......... continued

4

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

  

2013
£

    

2012
£

  

 

   

 

Amounts falling due within one year

  

10,858

    

10,848

  

Amounts falling due after more than one year

  

39,743

    

50,610

  

Total secured creditors

  

50,601

    

61,458

  

5

Share capital

Allotted, called up and fully paid shares

 

2013

2012

   

No.

   

£

   

No.

   

£

 

Ordinary share of £1 each

 

250,873

   

250,873

   

250,873

   

250,873

 
                         

Page 6