BFT Management Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 10587409 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 April 2023

for

BFT Management Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

I C Biles

Mrs G A Biles

REGISTERED OFFICE:

Lowerdown Pottery

Chapple Road

Bovey Tracey

Devon

TQ13 9LE

REGISTERED NUMBER:

10587409 (England and Wales)

ACCOUNTANTS:

Roches Chartered Accountants

1 Manor Court

6 Barnes Wallis Road

Segensworth

Fareham

Hampshire

PO15 5TH

CURRENT ASSETS

Debtors

4

6,976

7,567

Cash at bank and in hand

9,802

3,494

16,778

11,061

CREDITORS

Amounts falling due within one year

5

3,948

3,975

NET CURRENT ASSETS

12,830

7,086

TOTAL ASSETS LESS CURRENT LIABILITIES

12,830

7,086

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

12,828

7,084

SHAREHOLDERS' FUNDS

12,830

7,086

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 August 2023 and were signed on its behalf by:

I C Biles - Director

Mrs G A Biles - Director

1.	STATUTORY INFORMATION

BFT Management Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable and loans to related parties.

Financial assets & financial liabilities are initially recognised at the transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method. However, if the arrangement constitutes a financing transaction then it is measured at the present value of the future receipts discounted at a market rate of interest.

Financial assets & financial liabilities classified as receivable within one year are not amortised.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Government grants

Government grants are recognised using the accrual model. Those relating to revenue expenditure are recognised in income on a systematic basis over the periods in which the entity recognizes the related cost for which the grant is intended to compensate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.23

30.4.22

£

£

Other debtors

6,976

7,567

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.23

30.4.22

£

£

Taxation and social security

1,374

-

Other creditors

2,574

3,975

3,948

3,975

6.	EFFECTS OF COVID-19

As with all businesses in the UK the Coronavirus has had an impact on the business during and since the year end. Whilst there was a reduction in income for the lock-down periods the support given by the Government have minimised the impact on the business.

The impact of the shutdowns, whilst having a detrimental impact on the business, are not felt to be sufficient to affect the company's ability to continue trading in the future.