BT Systems Limited 30/06/2022 iXBRL

BT Systems Limited 30/06/2022 iXBRL

BT SYSTEMS LIMITED - Company Information

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8 30/06/2022 2022-06-30 false false false false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2021-07-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 07686012 2021-07-01 2022-06-30 07686012 2022-06-30 07686012 2021-06-30 07686012 2020-07-01 2021-06-30 07686012 2021-06-30 07686012 bus:RegisteredOffice 2021-07-01 2022-06-30 07686012 bus:LeadAgentIfApplicable 2021-07-01 2022-06-30 07686012 bus:Director1 2021-07-01 2022-06-30 07686012 core:FurnitureFittingsToolsEquipment 2021-06-30 07686012 core:FurnitureFittingsToolsEquipment 2022-06-30 07686012 core:WithinOneYear 2022-06-30 07686012 core:WithinOneYear 2021-06-30 07686012 core:ShareCapital 2022-06-30 07686012 core:ShareCapital 2021-06-30 07686012 core:RetainedEarningsAccumulatedLosses 2022-06-30 07686012 core:RetainedEarningsAccumulatedLosses 2021-06-30 07686012 core:FurnitureFittingsToolsEquipment 2021-07-01 2022-06-30 07686012 core:FurnitureFittingsToolsEquipment 2021-06-30 07686012 bus:Director1 2021-06-30 07686012 bus:Director1 2022-06-30 07686012 bus:Director1 2020-06-30 07686012 bus:Director1 2021-06-30 07686012 bus:Director1 2020-07-01 2021-06-30 07686012 bus:SmallEntities 2021-07-01 2022-06-30 07686012 bus:AuditExempt-NoAccountantsReport 2021-07-01 2022-06-30 07686012 bus:FullAccounts 2021-07-01 2022-06-30 07686012 bus:SmallCompaniesRegimeForAccounts 2021-07-01 2022-06-30 07686012 bus:PrivateLimitedCompanyLtd 2021-07-01 2022-06-30
Company registration number: 07686012
BT Systems Limited
Unaudited filleted financial statements
30 June 2022
BT Systems Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
BT Systems Limited
Directors and other information
Director Mr R Thiele
Company number 07686012
Registered office 45/49 Greek Sreet
Stockport
Cheshire
SK3 8AX
Business address Lea Lane
Lower Bartle
Preston
PR4 0RT
Accountants Downham Morris & Co
45/49 Greek Street
Stockport
Cheshire
SK3 8AX
BT Systems Limited
Statement of financial position
30 June 2022
2022 2021
Note £ £ £ £
Fixed assets
Tangible assets 5 28,454 35,567
_______ _______
28,454 35,567
Current assets
Stocks 8,250 8,250
Debtors 6 5,000 6,620
Cash at bank and in hand 26 8,310
_______ _______
13,276 23,180
Creditors: amounts falling due
within one year 7 ( 119,397) ( 87,913)
_______ _______
Net current liabilities ( 106,121) ( 64,733)
_______ _______
Total assets less current liabilities ( 77,667) ( 29,166)
_______ _______
Net liabilities ( 77,667) ( 29,166)
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account ( 77,767) ( 29,266)
_______ _______
Shareholders deficit ( 77,667) ( 29,166)
_______ _______
For the year ending 30 June 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 17 March 2023 , and are signed on behalf of the board by:
.........................
Mr R Thiele
Director
Company registration number: 07686012
BT Systems Limited
Notes to the financial statements
Year ended 30 June 2022
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is 45/49 Greek Sreet, Stockport, Cheshire, SK3 8AX.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Government grants
Government grants are recognised when it is reasonable to expect that the grants will be received and that all related conditions will be met, usually on submission of a valid claim for payment.Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 8 (2021: 11 ).
5. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1 July 2021 and 30 June 2022 57,367 57,367
_______ _______
Depreciation
At 1 July 2021 21,800 21,800
Charge for the year 7,113 7,113
_______ _______
At 30 June 2022 28,913 28,913
_______ _______
Carrying amount
At 30 June 2022 28,454 28,454
_______ _______
At 30 June 2021 35,567 35,567
_______ _______
6. Debtors
2022 2021
£ £
Trade debtors - 1,620
Other debtors 5,000 5,000
_______ _______
5,000 6,620
_______ _______
7. Creditors: amounts falling due within one year
2022 2021
£ £
Bank loans and overdrafts 2,466 -
Trade creditors 16,483 15,978
Social security and other taxes 27,340 30,002
Other creditors 73,108 41,933
_______ _______
119,397 87,913
_______ _______
8. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2022
Balance brought forward Advances /(credits) to the director Amounts repaid Balance o/standing
£ £ £ £
Mr R Thiele ( 34,197) ( 84,910) 70,214 ( 48,893)
_______ _______ _______ _______
2021
Balance brought forward Advances /(credits) to the director Amounts repaid Balance o/standing
£ £ £ £
Mr R Thiele ( 49,064) ( 57,042) 71,909 ( 34,197)
_______ _______ _______ _______
9. Related party transactions
During the year, the company voted dividends to the director totalling £- (30 June 2021: £-)