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Registration number: 01563275

Bold Communications Ltd
 

 
Unaudited Abbreviated Accounts
 

 
for the Year Ended 31 December 2015
 

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

 

Bold Communications Ltd
Contents

Abbreviated Balance Sheet

1 to 2

Notes to the Abbreviated Accounts

3 to 6

 

Bold Communications Ltd
(Registration number: 01563275)
Abbreviated Balance Sheet at 31 December 2015

   

Note

   

2015
£

   

2014
£

 

Fixed assets

 

             

Tangible fixed assets

 

2

   

8,988

   

134,699

 

Investments

 

2

   

2

   

2

 
   

   

8,990

   

134,701

 

Current assets

 

             

Stocks

 

   

66,497

   

73,745

 

Debtors

 

   

382,443

   

386,988

 

Cash at bank and in hand

 

   

149,402

   

141,005

 
   

   

598,342

   

601,738

 

Creditors: Amounts falling due within one year

 

3

   

(342,699)

   

(444,062)

 

Net current assets

 

   

255,643

   

157,676

 

Total assets less current liabilities

 

   

264,633

   

292,377

 

Creditors: Amounts falling due after more than one year

 

3

   

-

   

(28,485)

 

Net assets

 

   

264,633

   

263,892

 

Capital and reserves

 

             

Called up share capital

 

4

   

250,873

   

250,873

 

Profit and loss account

 

   

13,760

   

13,019

 

Shareholders' funds

 

   

264,633

   

263,892

 

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

 

Bold Communications Ltd
(Registration number: 01563275)
Abbreviated Balance Sheet at 31 December 2015
......... continued

For the year ending 31 December 2015 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 January 2015).

Approved by the Board on 28 September 2016 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 Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 December 2015
......... 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 January 2015).

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 the value 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

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.



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.



 

Bold Communications Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 December 2015
......... continued

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.

 

Bold Communications Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 December 2015
......... continued

2

Fixed assets

   

Tangible assets
£

   

Investments
£

   

Total
£

 

Cost

                 

At 1 January 2015

 

288,836

   

2

   

288,838

 

Additions

 

3,463

   

-

   

3,463

 

Disposals

 

(173,100)

   

-

   

(173,100)

 

At 31 December 2015

 

119,199

   

2

   

119,201

 

Depreciation

                 

At 1 January 2015

 

154,137

   

-

   

154,137

 

Charge for the year

 

4,542

   

-

   

4,542

 

Eliminated on disposals

 

(48,468)

   

-

   

(48,468)

 

At 31 December 2015

 

110,211

   

-

   

110,211

 

Net book value

                 

At 31 December 2015

 

8,988

   

2

   

8,990

 

At 31 December 2014

 

134,699

   

2

   

134,701

 

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

The profit for the financial period of Bold Technologies Limited was £nil and the aggregate amount of capital and reserves at the end of the period was £1.

The profit for the financial period of Bold International Limited was £nil and the aggregate amount of capital and reserves at the end of the period was £1.

 

Bold Communications Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 December 2015
......... continued

3

Creditors

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

 

2015
£

   

2014
£

 

 

   

 

Amounts falling due within one year

 

-

   

11,057

 

Amounts falling due after more than one year

 

-

   

28,485

 

Total secured creditors

 

-

   

39,542

 

4

Share capital

Allotted, called up and fully paid shares

 

2015

2014

   

No.

   

£

   

No.

   

£

 

Ordinary share of £1 each

 

250,873

   

250,873

   

250,873

   

250,873

 
                         

5

Ultimate parent company

Bold Group Limited, a company registered in England is the ultimate parent company.