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Company Registration No. 12318916 (England and Wales)
Business Buddies Contracting Ltd Unaudited accounts for the period from 1 December 2022 to 31 March 2023
Business Buddies Contracting Ltd Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
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Business Buddies Contracting Ltd Company Information for the period from 1 December 2022 to 31 March 2023
Directors
Lindsey Spurway Sarah Lonnon
Company Number
12318916 (England and Wales)
Registered Office
Devonshire House Wade Road Basingstoke RG24 8PE United Kingdom
Accountants
Woods Russell Limited First Floor Unit S Loddon Business Centre Roentgen Road Basingstoke RG24 8NG
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Business Buddies Contracting Ltd Statement of financial position as at 31 March 2023
2023
2022
Notes
£
£
Fixed assets
Tangible assets
4
316
425
Current assets
Debtors
5
26,848
31,498
Cash at bank and in hand
19,815
34,972
46,663
66,470
Creditors: amounts falling due within one year
6
(60,404)
(65,224)
Net current (liabilities)/assets
(13,741)
1,246
Total assets less current liabilities
(13,425)
1,671
Creditors: amounts falling due after more than one year
7
(22,813)
(29,421)
Net liabilities
(36,238)
(27,750)
Capital and reserves
Called up share capital
2
2
Profit and loss account
(36,240)
(27,752)
Shareholders' funds
(36,238)
(27,750)
For the period ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 4 October 2023 and were signed on its behalf by
Lindsey Spurway Director Company Registration No. 12318916
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Business Buddies Contracting Ltd Notes to the Accounts for the period from 1 December 2022 to 31 March 2023
1
Statutory information
Business Buddies Contracting Ltd is a private company, limited by shares, registered in England and Wales, registration number 12318916. The registered office is Devonshire House, Wade Road, Basingstoke, RG24 8PE, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
Straight line basis over 4 years
Computer equipment
Straight line basis over 3 years
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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Business Buddies Contracting Ltd Notes to the Accounts for the period from 1 December 2022 to 31 March 2023
4
Tangible fixed assets
Plant & machinery
Computer equipment
Total
£
£
£
Cost or valuation
At cost
At cost
At 1 December 2022
141
877
1,018
At 31 March 2023
141
877
1,018
Depreciation
At 1 December 2022
82
511
593
Charge for the period
12
97
109
At 31 March 2023
94
608
702
Net book value
At 31 March 2023
47
269
316
At 30 November 2022
59
366
425
5
Debtors
2023
2022
£
£
Amounts falling due within one year
Trade debtors
-
22,973
Accrued income and prepayments
26,755
-
Other debtors
93
8,525
26,848
31,498
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
10,434
5,635
Taxes and social security
1,899
1,592
Other creditors
19,642
19,743
Accruals
28,429
38,254
60,404
65,224
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans
22,813
29,421
Bank loans and overdrafts are secured over the assets of the company, they attract commercial rates of interest and are repayable in between 1 and 5 years.
8
Average number of employees
During the period the average number of employees was 2 (2022: 2).
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