Bullfix Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 11170495 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023

FOR

BULLFIX LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M Howe

Q C M Solt

M Q Statham

N I Hancock

Ms P K McNamara

REGISTERED OFFICE:

64 Wilmhurst Rd

Warwick

Warwickshire

CV34 5LN

REGISTERED NUMBER:

11170495 (England and Wales)

ACCOUNTANTS:

Bernard Rogers & Co

Bank Gallery

High Street

Kenilworth

Warwickshire

CV8 1LY

FIXED ASSETS

Intangible assets

4

71,161

47,591

Tangible assets

5

6,293

7,752

77,454

55,343

CURRENT ASSETS

Stocks

62,999

24,714

Debtors

6

59,322

8,009

Cash at bank

153,147

15,166

275,468

47,889

CREDITORS

Amounts falling due within one year

7

174,318

154,699

NET CURRENT ASSETS/(LIABILITIES)

101,150

(106,810

)

TOTAL ASSETS LESS CURRENT LIABILITIES

178,604

(51,467

)

CAPITAL AND RESERVES

Called up share capital

147

105

Share premium

399,958

-

Retained earnings

(221,501

)

(51,572

)

178,604

(51,467

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 August 2023 and were signed on its behalf by:

M Q Statham - Director

1.	STATUTORY INFORMATION

Bullfix Ltd 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.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Intangible assets

Intangible assets are measured at cost. After initial recognition intangible fixed assets are measured at cost less any accumulated amortisation. They are amortised over their estimated useful life with no amortisation in the current year as no sales have yet been realised.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 February 2022

52,879

Additions

32,065

At 31 January 2023

84,944

AMORTISATION

At 1 February 2022

5,288

Charge for year

8,495

At 31 January 2023

13,783

NET BOOK VALUE

At 31 January 2023

71,161

At 31 January 2022

47,591

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 February 2022

10,336

Additions

1,500

At 31 January 2023

11,836

DEPRECIATION

At 1 February 2022

2,584

Charge for year

2,959

At 31 January 2023

5,543

NET BOOK VALUE

At 31 January 2023

6,293

At 31 January 2022

7,752

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

9,568

-

Other debtors

49,754

8,009

59,322

8,009

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank loans and overdrafts

4

-

Trade creditors

68,953

59,082

Taxation and social security

1,477

-

Other creditors

103,884

95,617

174,318

154,699

8.	RELATED PARTY DISCLOSURES

At 31 January 2023 other creditors included loans made to the company by the directors of £94,354 (2022: £94,750). The loans are interest free and have no fixed date for repayment.

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the directors jointly.

10.	SIGNIFICANT INVESTMENT

During the year, 25th March 2022 Wilkinson Hardware Stores Ltd became a person with significant control following a substantial investment in the company.