Registered number
07915106
BITRAN GROUP LIMITED
Filleted Accounts
31 January 2023
BITRAN GROUP LIMITED
Registered number: 07915106
Balance Sheet
as at 31 January 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 3,208 3,208
Current assets
Stocks 8,423 9,603
Debtors 4 24,648 48,389
Investments held as current assets 5 10,210 10,210
Cash at bank and in hand 277,475 314,562
320,756 382,764
Creditors: amounts falling due within one year 6 (301,868) (363,702)
Net current assets 18,888 19,062
Net assets 22,096 22,270
Capital and reserves
Called up share capital 100 100
Profit and loss account 21,996 22,170
Shareholders' funds 22,096 22,270
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Jonathan Bitran
Director
Approved by the board on 20 October 2023
BITRAN GROUP LIMITED
Notes to the Accounts
for the year ended 31 January 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 15% at cost
Motor vehicles 15% at cost
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 February 2022 3,208 41,355 14,250 58,813
At 31 January 2023 3,208 41,355 14,250 58,813
Depreciation
At 1 February 2022 - 41,355 14,250 55,605
At 31 January 2023 - 41,355 14,250 55,605
Net book value
At 31 January 2023 3,208 - - 3,208
At 31 January 2022 3,208 - - 3,208
4 Debtors 2023 2022
£ £
Trade debtors 18,296 44,389
Other debtors 6,352 4,000
24,648 48,389
5 Investments held as current assets 2023 2022
£ £
Fair value
Unlisted investments 10,210 10,210
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 35,576 44,348
Trade creditors 51,248 62,615
Taxation and social security costs 169,563 186,331
Other creditors 45,481 70,408
301,868 363,702
7 Other information
BITRAN GROUP LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
2 Langley Crescent
Edgware
Middlesex
HA8 9SZ
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