Registered number
07664000
Bsmart Homes Ltd
Filleted Accounts
31 March 2023
Bsmart Homes Ltd
Registered number: 07664000
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 34,544 31,300
Current assets
Cash at bank and in hand 306,409 185,008
Creditors: amounts falling due within one year 4 73,458 95,426
Net current assets 379,867 280,434
Net assets 414,411 311,734
Capital and reserves
Called up share capital 200 200
Profit and loss account 414,211 311,534
Shareholder's funds 414,411 311,734
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 member has 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.
Lee David Campbell
Director
Approved by the board on 16 May 2023
Bsmart Homes Ltd
Notes to the Accounts
for the year ended 31 March 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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 8 8
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 April 2022 15,000 45,363 11,090 71,453
Additions - 10,857 - 10,857
At 31 March 2023 15,000 56,220 11,090 82,310
Depreciation
At 1 April 2022 - 35,363 4,790 40,153
Charge for the year - 5,413 2,200 7,613
At 31 March 2023 - 40,776 6,990 47,766
Net book value
At 31 March 2023 15,000 15,444 4,100 34,544
At 31 March 2022 15,000 10,000 6,300 31,300
4 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 47,911 38,332
Other creditors (121,369) (133,758)
(73,458) (95,426)
5 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Lee David Campbell
Director Loan 149,946 135,577 (149,946) 135,577
149,946 135,577 (149,946) 135,577
6 Other information
Bsmart Homes Ltd is a private company limited by shares and incorporated in England. Its registered office is:
110 Church Street
Swinton
Mexborough
South Yorkshire
S64 8DQ
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