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Registered Number: 05428568
England and Wales

 

 

 

BSP COMMUNICATIONS LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 May 2022

End date: 30 April 2023
Director Benjamin Oluwasegun Pius
Registered Number 05428568
Registered Office Level 37
One Canada Square
Canary Wharf
London
E14 5AB
Accountants IB & Co Accountants
Level 37, 1 Canada Square
Canary Wharf
London
E14 5AA
1
Report to the directors on the preparation of the unaudited statutory accounts of BSP Communications Limited for the year ended 30 April 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of BSP Communications Limited for the year ended 30 April 2023 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the companys accounting records and from information and explanations you have given to us.

As a practising member firm of the Institute of Financial Accountants (IFA), we are subject to its ethical and other professional requirements which are detailed at https://www.ifa.org.uk/about-us/acting-in-the-public-interest/memberregulations.

This report is made solely to the Board of Directors of BSP Communications Limited, as a body, in accordance with the terms of our engagement letter dated 30 April 2023 . Our work has been undertaken solely to prepare for your approval the accounts of BSP Communications Limited and state those matters that we have agreed to state to the Board of Directors of BSP Communications Limited, as a body, in this report.To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than BSP Communications Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that BSP Communications Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of BSP Communications Limited.You consider that BSP Communications Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit of the accounts of BSP Communications Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements 30 April 2023.



....................................................
IB & Co Accountants
Level 37, 1 Canada Square
Canary Wharf
London
E14 5AA
05 January 2024
2
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets   6,478 
  6,478 
Current assets      
Debtors 3 85,723   
Cash at bank and in hand (8,362)   100,422 
77,361    100,422 
Creditors: amount falling due within one year 4 (34,487)   (3,535)
Net current assets 42,874    96,887 
 
Total assets less current liabilities 42,874    103,365 
Creditors: amount falling due after more than one year 5   (44,135)
Provisions for liabilities 6 (1,054)  
Net assets 41,820    59,230 
 

Capital and reserves
     
Called up share capital 33,728    (4,705)
Profit and loss account 8,092    63,935 
Shareholder's funds 41,820    59,230 
 


For the year ended 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:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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 the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 24 January 2024 and were signed by:


-------------------------------
Benjamin Oluwasegun Pius
Director
3
General Information
BSP Communications Limited is a private company, limited by shares, registered in England and Wales, registration number 05428568, registration address Level 37, One Canada Square, Canary Wharf, London, E14 5AB.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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)
Group accounts
The company is a parent company subject to the small companies regime. The company and its subsidiary comprise a small group. The company has, therefore, taken advantage of the option provided by section 398 of the Companies Act 2006 not to prepare group accounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Research and development expenditure
Research and development expenditure is charged to the income statement in the period in which it is incurred.
Preference dividends
Where preference shares are classed as liabilities rather than equity any preference dividends paid are included in interest payable and similar charges within the income statement.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
2.

Average number of employees

Average number of employees during the year was 2 (2022 : 2).
3.

Debtors: amounts falling due within one year

2023
£
  2022
£
Directors' Current Accounts 84,003   
VAT 2,891   
86,894   

3.

Debtors: amounts falling due after one year

2023
£
  2022
£
Directors Loan Accounts (2,200)  
Directors' Loan Accounts 1,029   
(1,171)  

4.

Creditors: amount falling due within one year

2023
£
  2022
£
Bank Loans & Overdrafts   15,313 
Barclaycard Commercial 1,443   
Corporation Tax 2,089   
PAYE & Social Security 943    21,041 
Other Creditors 3   
Dividends Payable - Equity   (36,807)
Wages & Salaries Control Account 30,009    (19,380)
Directors' Current Accounts   15,248 
VAT   8,120 
34,487    3,535 

5.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bank Loans & Overdrafts   44,135 
  44,135 

6.

Provisions for liabilities

2023
£
  2022
£
Pension Provisions 1,054   
1,054   

4