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COMPANY REGISTRATION NUMBER: 03189255
B A ASSOCIATES LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
30 April 2023
B A ASSOCIATES LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 30 APRIL 2023
Contents
Pages
Balance sheet 1
Notes to the financial statements 2 to 4
B A ASSOCIATES LIMITED
BALANCE SHEET
30 April 2023
2023
2022
Note
£
£
Current assets
Debtors
6
9,509
6,208
Cash at bank and in hand
58,831
55,512
------------
------------
68,340
61,720
Creditors: amounts falling due within one year
7
( 54,054)
( 54,785)
------------
------------
Net current assets
14,286
6,935
------------
------------
Total assets less current liabilities
14,286
6,935
------------
------------
Net assets
14,286
6,935
------------
------------
Capital and reserves
Called up share capital
8
100
100
Profit and loss account
14,186
6,835
------------
------------
Shareholders funds
14,286
6,935
------------
------------
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 30 April 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 18 September 2023 , and are signed on behalf of the board by:
B Hackwell
Director
Company registration number: 03189255
B A ASSOCIATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 APRIL 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 35 Westgate, Huddersfield, West Yorkshire, HD1 1PA.
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. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for services rendered, net of discounts and of 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.
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its residual value, over the useful economic life of that asset as follows:
Computer equipment
-
25% reducing balance
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Tangible assets
Computer equipment
£
Cost
At 1 May 2022 and 30 April 2023
3,396
------------
Depreciation
At 1 May 2022 and 30 April 2023
3,396
------------
Carrying amount
At 30 April 2023
------------
At 30 April 2022
------------
6. Debtors
2023
2022
£
£
Trade debtors
7,092
4,002
Prepayments and accrued income
259
48
Other debtors
2,158
2,158
------------
------------
9,509
6,208
------------
------------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
308
Accruals and deferred income
4,706
900
Corporation tax
11,278
8,087
Social security and other taxes
1,561
5,883
Director's loan account
36,201
39,915
------------
------------
54,054
54,785
------------
------------
8. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £– (2022 - £1) each
100
100
A Ordinary shares shares of £ 1 each
80
80
B Ordinary shares shares of £ 1 each
20
20
------------
------------
------------
------------
100
100
100
100
------------
------------
------------
------------
During the year, the shares have been designated as 80 A ordinary shares and 20 B ordinary shares.
9. Related party transactions
The director's loan account of £36,200 (2022: £39,915) included in creditors is unsecured and repayable on demand. The interest charge for the year was £3,806 (2022: £nil). Control of the company The company is controlled by the director.