Business Brokering Solutions Limited Filleted accounts for Companies House (small and micro)

BUSINESS BROKERING SOLUTIONS LIMITED - Company Information

1 false false false false false false false false false true false false false false false false No description of principal activity 2022-06-01 Sage Accounts Production Advanced 2021 - FRS102_2021 23,260 10,550 8,124 25,686 16,386 3,035 7,684 11,737 13,949 6,874 xbrli:pure xbrli:shares iso4217:GBP 07462012 2022-06-01 2023-05-31 07462012 2023-05-31 07462012 2022-05-31 07462012 2021-06-01 2022-05-31 07462012 2022-05-31 07462012 core:FurnitureFittings 2022-06-01 2023-05-31 07462012 bus:Director1 2022-06-01 2023-05-31 07462012 core:FurnitureFittings 2022-05-31 07462012 core:FurnitureFittings 2023-05-31 07462012 core:WithinOneYear 2023-05-31 07462012 core:WithinOneYear 2022-05-31 07462012 core:ShareCapital 2023-05-31 07462012 core:ShareCapital 2022-05-31 07462012 core:RetainedEarningsAccumulatedLosses 2023-05-31 07462012 core:RetainedEarningsAccumulatedLosses 2022-05-31 07462012 core:FurnitureFittings 2022-05-31 07462012 bus:SmallEntities 2022-06-01 2023-05-31 07462012 bus:AuditExemptWithAccountantsReport 2022-06-01 2023-05-31 07462012 bus:FullAccounts 2022-06-01 2023-05-31 07462012 bus:SmallCompaniesRegimeForAccounts 2022-06-01 2023-05-31 07462012 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31

COMPANY REGISTRATION NUMBER: 07462012

BUSINESS BROKERING SOLUTIONS LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 May 2023

BUSINESS BROKERING SOLUTIONS LIMITED

FINANCIAL STATEMENTS

Year ended 31 May 2023

CONTENTS	PAGE

Balance sheet	1

Notes to the financial statements	2

BUSINESS BROKERING SOLUTIONS LIMITED

BALANCE SHEET

31 May 2023

	2023	2022
Note	£	£

FIXED ASSETS

Tangible assets	5	13,949	6,874

CURRENT ASSETS

Debtors	6	284,518	230,904
Cash at bank and in hand		290,866	561,953
		---------	---------
		575,384	792,857

CREDITORS: amounts falling due within one year	7	( 28,354)	( 83,736)
		---------	---------
NET CURRENT ASSETS		547,030	709,121
		---------	---------
TOTAL ASSETS LESS CURRENT LIABILITIES		560,979	715,995

PROVISIONS	( 881)	( 1,719)
	---------	---------
NET ASSETS	560,098	714,276
	---------	---------

CAPITAL AND RESERVES

Called up share capital	100	100
Profit and loss account	559,998	714,176
	---------	---------
SHAREHOLDERS FUNDS	560,098	714,276
	---------	---------

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 profit and loss account has not been delivered.

For the year ending 31 May 2023 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 his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 12 December 2023 , and are signed on behalf of the board by:

Mr P A Clutton
Director

Company registration number: 07462012

BUSINESS BROKERING SOLUTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

Year ended 31 May 2023

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Cedar House, Hazell Drive, Newport, South Wales, NP10 8FY. The principal place of business is Regus House, Malthouse Avenue, Cardiff Gate Business Park, Cardiff, CF23 8RU.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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 services rendered, net of discounts and Value Added Tax.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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 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.

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:

	Fixtures and fittings	-	25% straight line

Impairment of fixed assets

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. For the purposes of impairment testing, 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 largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the balance sheet and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

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. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

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 are 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 1 (2022: 1 ).

5. TANGIBLE ASSETS

	Fixtures and fittings
	£
Cost
At 1 June 2022	23,260
Additions	10,550
Disposals	( 8,124)
	--------
At 31 May 2023	25,686
	--------
Depreciation
At 1 June 2022	16,386
Charge for the year	3,035
Disposals	( 7,684)
	--------
At 31 May 2023	11,737
	--------
Carrying amount
At 31 May 2023	13,949
	--------
At 31 May 2022	6,874
	--------

6. DEBTORS

	2023	2022
	£	£
Other debtors	284,518	230,904
	---------	---------

7. CREDITORS: amounts falling due within one year

	2023	2022
	£	£
Trade creditors	1,097	1,999
Corporation tax	20,957	78,632
Social security and other taxes	365	–
Other creditors	5,935	3,105
	--------	--------
	28,354	83,736
	--------	--------

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Included within other debtors is £250,790 (2022 - £191,696) due from the director. In relation to the overdrawn balance(s), the following transactions took place during the year;

		£
	Opening balance	191,696

Amounts repaid (156,100)' c1

Amounts drawn	215,194
Closing balance	250,790

These balances are interest free and repayable on demand.

This amount is interest free, unsecured and recoverable on demand.