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Registration number: 07871791

BCU UK Trust LTD

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2022

 

BCU UK Trust LTD

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

BCU UK Trust LTD

Company Information

Directors

Mr Vijay Kumar

Mr Paul Nugent

Mr Dimitrios Kamsaris

Mrs Veena Kumar

Registered office

21 Babors Field
Bilston
Wolverhampton
West Midlands
WV14 9XS

Accountants

Mr Satraj Suman ACMA
21 Babors Field
Bilston
Wolverhampton
West Midlands
WV14 9XS

 

BCU UK Trust LTD

(Registration number: 07871791)
Balance Sheet as at 31 December 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

4

34,730

35,229

Current assets

 

Debtors

5

179,553

174,155

Cash at bank and in hand

 

750

306

 

180,303

174,461

Total assets less current liabilities

 

215,033

209,690

Creditors: Amounts falling due after more than one year

6

(82,253)

(88,464)

Net assets

 

132,780

121,226

Capital and reserves

 

Called up share capital

7

10

10

Retained earnings

132,770

121,216

Shareholders' funds

 

132,780

121,226

For the financial year ending 31 December 2022 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 31 October 2023 and signed on its behalf by:
 

.........................................
Mr Vijay Kumar
Director

 

BCU UK Trust LTD

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
21 Babors Field
Bilston
Wolverhampton
West Midlands
WV14 9XS
England

These financial statements were authorised for issue by the Board on 31 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

BCU UK Trust LTD

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture and Fittings

20% Reducing Balance

Land and Buildings

0% Reducing Balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2021 - 1).

 

BCU UK Trust LTD

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2022

32,733

3,900

36,633

At 31 December 2022

32,733

3,900

36,633

Depreciation

At 1 January 2022

-

1,404

1,404

Charge for the year

-

499

499

At 31 December 2022

-

1,903

1,903

Carrying amount

At 31 December 2022

32,733

1,997

34,730

At 31 December 2021

32,733

2,496

35,229

Included within the net book value of land and buildings above is £32,733 (2021 - £32,733) in respect of freehold land and buildings.
 

5

Debtors

Current

2022
£

2021
£

Trade debtors

62,392

47,392

Other debtors

117,161

126,763

 

179,553

174,155

 

BCU UK Trust LTD

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

6

Creditors

Creditors: amounts falling due after more than one year

Note

2022
£

2021
£

Due after one year

 

Loans and borrowings

8

82,253

88,464

7

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary Shares of £1 each

10

10

10

10

         

8

Loans and borrowings

2022
£

2021
£

Non-current loans and borrowings

Bank borrowings

82,253

88,464

 

9

Ultimate Controlling Party

The company is a company limited by guarantee and became registered as a charity with charity registration number 1159500.