B:Web Ltd 31/03/2023 iXBRL

Company registration number: 05349108

B:Web Ltd

Unaudited filleted financial statements

31 March 2023

B:WEB LTD

STATEMENT OF FINANCIAL POSITION

31 MARCH 2023

		2023		2022
	Note	£	£	£	£

Fixed assets
Intangible assets	5	-		-
Tangible assets	6	4,165		8,806
		_______		_______
			4,165		8,806

Current assets
Debtors	7	27,237		92,713
Cash at bank and in hand		749		89,467
		_______		_______
		27,986		182,180
Creditors: amounts falling due
within one year	8	( 41,848)		( 99,430)
		_______		_______
Net current (liabilities)/assets			( 13,862)		82,750
			_______		_______
Total assets less current liabilities			( 9,697)		91,556

Creditors: amounts falling due
after more than one year	9		( 32,203)		( 37,320)

Provisions for liabilities			( 1,041)		( 2,202)

			_______		_______
Net (liabilities)/assets			( 42,941)		52,034
			_______		_______

Capital and reserves
Called up share capital			1,000		1,000
Profit and loss account	10		( 43,941)		51,034
			_______		_______
Shareholders (deficit)/funds			( 42,941)		52,034
			_______		_______

For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors 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 directors acknowledge 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 04 October 2023 , and are signed on behalf of the board by:

Z Ashby

Director

Company registration number: 05349108

B:WEB LTD

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 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 67 Hyde Park Road, Plymouth, England, PL3 4JN.

Principal activity

The principal activity of the company is that of business and domestic software development.

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 measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for services rendered, net of discounts and Value Added Tax.

When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period.

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.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:


Computer software	-	20 %	straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

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.

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:


Fittings fixtures and equipment	-	20 %	straight line
Computer equipment	-	33 %	straight line

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.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks and other short-term, highly-liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the performance model. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

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 statement of financial position 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 in finance costs 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.Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at theend of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 7 (2022: 7 ).

5. Intangible assets

	Goodwill	Total
	£	£
Cost
At 1 April 2022 and 31 March 2023	18,530	18,530
	_______	_______
Amortisation
At 1 April 2022 and 31 March 2023	18,530	18,530
	_______	_______
Carrying amount
At 31 March 2023	-	-
	_______	_______
At 31 March 2022	-	-
	_______	_______

6. Tangible assets

	Fixtures, fittings and equipment	Computer equipment	Total
	£	£	£
Cost
At 1 April 2022	7,176	13,963	21,139
Additions	133	223	356
	_______	_______	_______
At 31 March 2023	7,309	14,186	21,495
	_______	_______	_______
Depreciation
At 1 April 2022	3,062	9,271	12,333
Charge for the year	1,447	3,550	4,997
	_______	_______	_______
At 31 March 2023	4,509	12,821	17,330
	_______	_______	_______
Carrying amount
At 31 March 2023	2,800	1,365	4,165
	_______	_______	_______
At 31 March 2022	4,114	4,692	8,806
	_______	_______	_______

7. Debtors

	2023	2022
	£	£
Trade debtors	24,253	69,167
Other debtors	2,984	23,546
	_______	_______
	27,237	92,713
	_______	_______

8. Creditors: amounts falling due within one year

	2023	2022
	£	£
Bank loans and overdrafts	19,407	54,452
Trade creditors	52	-
Accruals and deferred income	4,717	3,131
Social security and other taxes	17,088	41,154
Other creditors	584	693
	_______	_______
	41,848	99,430
	_______	_______

Contained within the figures above is a bounce back loan. These are backed by a government guarantee.

9. Creditors: amounts falling due after more than one year

	2023	2022
	£	£
Bank loans and overdrafts	32,203	37,320
	_______	_______

Contained within the figures above is a bounce back loan. These are backed by a government guarantee.

10. Reserves

Profit and loss account:This reserve records retained earnings and accumulated losses.

11. Directors advances, credits and guarantees

	During the year the directors entered into the following advances and credits with the company:

2023
		Balance brought forward	Advances /(credits) to the directors	Amounts repaid	Balance o/standing
		£	£	£	£
	Directors	22,896	17,429	( 37,991)	2,334
		_______	_______	_______	_______

2022
		Balance brought forward	Advances /(credits) to the directors	Amounts repaid	Balance o/standing
		£	£	£	£
	Directors	( 4,351)	45,239	( 17,992)	22,896
		_______	_______	_______	_______

12. Going concern

The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The validity of this assumption depends on the continued support from the company's directors. If the company were unable to continue in operational existence for the foreseeable future, adjustments would have to be made to reduce the balance sheet value of assets to their recoverable amounts, and to provide for further liabilities that might arise, and to reclassify fixed assets as current assets. The directors believe that it is appropriate for the financial statements to be prepared on the going concern basis.