Balreed Digitec (SE) Limited - Period Ending 2020-10-31

Balreed Digitec (SE) Limited

Contents

Company Information	1
Directors' Report	2
Statement of Financial Position	3
Notes to the Unaudited Financial Statements	4 to 6

Balreed Digitec (SE) Limited

Company Information

Directors

Mr J A Clark Mr A Maruggi

Registered office

Nimbus House Liphook Way 20/20 Business Park Maidstone Kent ME16 0FZ

Accountants

DSK Partners LLP Chartered Accountants D S House 306 High Street Croydon Surrey CR0 1NG

Balreed Digitec (SE) Limited

Directors' Report for the Year Ended 31 October 2020

The directors present their report and the financial statements for the year ended 31 October 2020.

Directors of the company

The directors who held office during the year were as follows:

Mr J A Clark

Mr R J Stanton-Gleaves (Resigned 17 June 2020)

Mr A Maruggi (appointed 18 June 2020)

Small companies provision statement

This report has been prepared in accordance with the small companies regime under the Companies Act 2006.

Approved by the Board on 26 May 2021 and signed on its behalf by:

.........................................
Mr J A Clark
Director

Balreed Digitec (SE) Limited

(Registration number: 04950222)
Statement of Financial Position as at 31 October 2020

	Note	2020 £	2019 £
Current assets
Debtors	4	9,000,000	9,000,000
Capital and reserves
Called up share capital	5	336	336
Profit and loss account	6	8,999,664	8,999,664
Shareholders' funds		9,000,000	9,000,000

For the financial year ending 31 October 2020 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	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.

Approved and authorised by the Board on 26 May 2021 and signed on its behalf by:
 

Mr J A Clark
Director

Balreed Digitec (SE) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2020

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Nimbus House
Liphook Way
20/20 Business Park
Maidstone
Kent
ME16 0FZ

The presentation currency of the financial statements is Pound Sterling (£).

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Balreed Digitec (SE) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2020 (continued)

2	Accounting policies (continued)

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either 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.
 
 

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2019 - 0).

4

Debtors

	2020 £	2019 £
Other debtors	9,000,000	9,000,000
	9,000,000	9,000,000

5	Share capital

Allotted, called up and fully paid shares

	2020		2019
	No.	£	No.	£
Ordinary A shares of £1 each	324	324	324	324
Ordinary C shares of £1 each	12	12	12	12
	336	336	336	336

Balreed Digitec (SE) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2020 (continued)

6	Ultimate parent company

The company's immediate parent company is Apogee Group Limited, a company incorporated in England and Wales and its ultimate parent company is HP Inc, a company incorporated in United Sates of America.

The smallest group in which the results of the company were consolidated is that headed by Manzana Bidco Limited. The consolidated accounts of this company are available to the public and may be obtained from Companies House.

The largest group in which the results of the company were consolidated is that headed by HP Inc. The consolidated accounts of this company are available to the public and may be obtained from the company's head office, 1501 Page Mill Road, Palo Alto, CA 94304, United States.