Silverfin false 31/03/2023 01/04/2022 31/03/2023 Neil Stewart 02/06/1999 31 October 2023 The principal activity of the Company during the financial year was that of business mentoring and consultancy and property rental. 03781158 2023-03-31 03781158 bus:Director1 2023-03-31 03781158 2022-03-31 03781158 core:CurrentFinancialInstruments 2023-03-31 03781158 core:CurrentFinancialInstruments 2022-03-31 03781158 core:Non-currentFinancialInstruments 2023-03-31 03781158 core:Non-currentFinancialInstruments 2022-03-31 03781158 core:ShareCapital 2023-03-31 03781158 core:ShareCapital 2022-03-31 03781158 core:RetainedEarningsAccumulatedLosses 2023-03-31 03781158 core:RetainedEarningsAccumulatedLosses 2022-03-31 03781158 core:OfficeEquipment 2022-03-31 03781158 core:ComputerEquipment 2022-03-31 03781158 core:OfficeEquipment 2023-03-31 03781158 core:ComputerEquipment 2023-03-31 03781158 core:CostValuation 2022-03-31 03781158 core:AdditionsToInvestments 2023-03-31 03781158 core:CostValuation 2023-03-31 03781158 core:ProvisionsForImpairmentInvestments 2022-03-31 03781158 core:ProvisionsForImpairmentInvestments 2023-03-31 03781158 bus:OrdinaryShareClass1 2023-03-31 03781158 2022-04-01 2023-03-31 03781158 bus:FullAccounts 2022-04-01 2023-03-31 03781158 bus:SmallEntities 2022-04-01 2023-03-31 03781158 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 03781158 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 03781158 bus:Director1 2022-04-01 2023-03-31 03781158 core:OfficeEquipment 2022-04-01 2023-03-31 03781158 core:ComputerEquipment 2022-04-01 2023-03-31 03781158 2021-04-01 2022-03-31 03781158 core:Non-currentFinancialInstruments 2022-04-01 2023-03-31 03781158 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 03781158 bus:OrdinaryShareClass1 2021-04-01 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 03781158 (England and Wales)

BHCS LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2023
Pages for filing with the registrar

BHCS LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

BHCS LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 March 2023
BHCS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 1,669 83
Investment property 4 81,995 75,000
Investments 5 100 0
83,764 75,083
Current assets
Debtors 6 74,597 27,608
Cash at bank and in hand 3,369 ( 12,868)
77,966 14,740
Creditors: amounts falling due within one year 7 ( 93,280) ( 98,169)
Net current liabilities (15,314) (83,429)
Total assets less current liabilities 68,450 (8,346)
Creditors: amounts falling due after more than one year 8 ( 8,667) ( 12,668)
Net assets/(liabilities) 59,783 ( 21,014)
Capital and reserves
Called-up share capital 9 110 10
Profit and loss account 59,673 ( 21,024 )
Total shareholder's funds/(deficit) 59,783 ( 21,014)

For the financial 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.

Director's responsibilities:

The financial statements of BHCS Limited (registered number: 03781158) were approved and authorised for issue by the Director on 31 October 2023. They were signed on its behalf by:

Neil Stewart
Director
BHCS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
BHCS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

BHCS Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Bishop Fleming Llp, 10 Temple Back, Bristol, BS1 6FL, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Office equipment 25 % reducing balance
Computer equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Office equipment Computer equipment Total
£ £ £
Cost
At 01 April 2022 3,584 0 3,584
Additions 875 743 1,618
At 31 March 2023 4,459 743 5,202
Accumulated depreciation
At 01 April 2022 3,501 0 3,501
Charge for the financial year 32 0 32
At 31 March 2023 3,533 0 3,533
Net book value
At 31 March 2023 926 743 1,669
At 31 March 2022 83 0 83

4. Investment property

Investment property
£
Valuation
As at 01 April 2022 75,000
Additions 6,995
As at 31 March 2023 81,995

5. Fixed asset investments

Other investments Total
£ £
Carrying value before impairment
At 01 April 2022 0 0
Additions 100 100
At 31 March 2023 100 100
Provisions for impairment
At 01 April 2022 0 0
At 31 March 2023 0 0
Carrying value at 31 March 2023 100 100
Carrying value at 31 March 2022 0 0

6. Debtors

2023 2022
£ £
Trade debtors 0 270
Amounts owed by Group undertakings 9,720 0
Other debtors 64,877 27,338
74,597 27,608

7. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 3,999 3,999
Trade creditors 5,070 240
Amounts owed to Group undertakings 21,884 0
Other creditors 62,327 93,930
93,280 98,169

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

2023 2022
£ £
Bank loans 8,667 12,668

There are no amounts included above in respect of which any security has been given by the small entity.

9. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
110 Ordinary shares of £ 1.00 each (2022: 10 shares of £ 1.00 each) 110 10

10. Related party transactions

Transactions with owners holding a participating interest in the entity

2023 2022
£ £
Owed by ICAN Training 9,720 6,720
Owed by Downing Street Properties Ltd 0 20,618
Owed to Downing Street Properties Ltd 21,884 0

The balances are interest free and repayable on demand.

Transactions with the entity's director

2023 2022
£ £
Owed to Mr N Stewart 0 20,699
Owed by Mr N Stewart 53,649 0

The loan is interest free and repayable on demand.