Company registration number 02861501 (England and Wales)
BUSINESS LANGUAGE SERVICES LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023
PAGES FOR FILING WITH REGISTRAR
BUSINESS LANGUAGE SERVICES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
BUSINESS LANGUAGE SERVICES LIMITED
BALANCE SHEET
AS AT
28 FEBRUARY 2023
28 February 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
19,973
29,921
19,973
29,921
Current assets
Debtors
5
168,447
174,248
Cash at bank and in hand
157,468
128,654
325,915
302,902
Creditors: amounts falling due within one year
6
(82,377)
(82,592)
Net current assets
243,538
220,310
Total assets less current liabilities
263,511
250,231
Creditors: amounts falling due after more than one year
7
(4,717)
(10,009)
Provisions for liabilities
(4,143)
(4,934)
Net assets
254,651
235,288
Capital and reserves
Called up share capital
8
4
4
Profit and loss reserves
254,647
235,284
Total equity
254,651
235,288

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

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

The financial statements were approved by the board of directors and authorised for issue on 9 October 2023 and are signed on its behalf by:
Mr A P Burman
Director
Company Registration No. 02861501
BUSINESS LANGUAGE SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 2 -
1
Accounting policies
Company information

Business Language Services Limited is a private company limited by shares incorporated in England and Wales. The registered office is Part Ground Floor, James William House, 9 Museum Place, Cardiff, CF10 3BD.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised as earned when, and to the extent that, the company obtains the right to consideration in exchange for services provided. For work in progress, an assessment is made to the extent which the revenue has been earned. This assessment takes into account the nature of the assignment and its stage of completion. Unbilled work in progress is included in debtors as accrued income.

 

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings Leasehold
over 5 years on a straight line basis
Office equipment
25% on reducing balance
Computer equipment
20% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Financial instruments

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

 

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

BUSINESS LANGUAGE SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
1
Accounting policies
(Continued)
- 3 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.6
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Exceptional item
2023
2022
£
£
Expenditure
Dilapidation provision written off
-
(10,000)
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
11
11
BUSINESS LANGUAGE SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 4 -
4
Tangible fixed assets
Land and buildings Leasehold
Office equipment
Computer equipment
Total
£
£
£
£
Cost
At 1 March 2022
26,460
32,265
29,177
87,902
Additions
-
0
172
908
1,080
Disposals
-
0
(30,577)
(12,770)
(43,347)
At 28 February 2023
26,460
1,860
17,315
45,635
Depreciation and impairment
At 1 March 2022
10,584
31,166
16,231
57,981
Depreciation charged in the year
5,292
306
2,673
8,271
Eliminated in respect of disposals
-
0
(30,500)
(10,090)
(40,590)
At 28 February 2023
15,876
972
8,814
25,662
Carrying amount
At 28 February 2023
10,584
888
8,501
19,973
At 28 February 2022
15,876
1,099
12,946
29,921
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
85,804
86,703
Amounts owed by group undertakings
77,233
81,447
Other debtors
5,410
6,098
168,447
174,248
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
23,778
22,449
Corporation tax
25,475
28,203
Other taxation and social security
20,606
18,122
Other creditors
12,518
13,818
82,377
82,592

The secured debt included within creditors is a hire purchase contract of £5,292 (2022: £5,292) and is secured over a company asset.

BUSINESS LANGUAGE SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 5 -
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
4,717
10,009

The secured debt included within creditors is a hire purchase contract of £4,717 (2022: £10,009) and is secured over a company asset.

8
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
4
4
4
4
9
Related party transactions

The company operates a loan account with its parent company Burmanovak Limited. During the year, Business Language Services Limited made payments on behalf of Burmanovak Limited totalling £75,786 (2022: £40,448 ) and voted a dividend to Burmanovak Limited of £80,000 (2022 £90,000). At the year end, the balance owed by Burmanovak Limited was £77,233 (2022: £81,447) and is included in debtors: amounts falling due within one year.

10
Directors' transactions

The directors operate a current loan account with the company, which is debited with payments made by the company on behalf of the directors and credited with funds introduced and undrawn directors fees. The amount owed by the company at 28 February 2023 £nil (2022: £nil), this amount being included in creditor: amounts falling due within one year.

11
Parent company

The ultimate parent company is Burmanovak Limited. Their registered office is located at Part Ground Floor, James William House, 9 Museum Place, Cardiff, CF10 3BD.

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