Registered number
12119464
BSDC (TF) Limited
Filleted Accounts
31 May 2023
BSDC (TF) Limited
Registered number: 12119464
Balance Sheet
as at 31 May 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 241,669 276,504
Current assets
Debtors 4 27,160 32,444
Cash at bank and in hand 9,939 9,208
37,099 41,652
Creditors: amounts falling due within one year 5 (604,476) (543,546)
Net current liabilities (567,377) (501,894)
Total assets less current liabilities (325,708) (225,390)
Creditors: amounts falling due after more than one year 6 (30,000) (35,000)
Provisions for liabilities (30,000) (21,000)
(deferred taxation)
Net liabilities (385,708) (281,390)
Capital and reserves
Called up share capital 100 100
Profit and loss account (385,808) (281,490)
Shareholder's funds (385,708) (281,390)
The directors are 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 directors acknowledge their 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.
M Zulberg
Director
Approved by the board on 8 February 2024
BSDC (TF) Limited
Notes to the Accounts
for the year ended 31 May 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, net of discounts and value added taxes. Turnover includes revenue earned from the value of safe deposit box services provided to customers, together with related security services, on a receipts basis.
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 over 10 years
Leasehold improvements over 10 years
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Leasehold improves. Plant and machinery etc Total
£ £ £
Cost
At 1 June 2022 105,472 242,880 348,352
At 31 May 2023 105,472 242,880 348,352
Depreciation
At 1 June 2022 21,613 50,235 71,848
Charge for the year 10,547 24,288 34,835
At 31 May 2023 32,160 74,523 106,683
Net book value
At 31 May 2023 73,312 168,357 241,669
At 31 May 2022 83,859 192,645 276,504
4 Debtors 2023 2022
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 100 100
Other debtors 27,060 32,344
27,160 32,444
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 19,767 41,667
Amounts owed to group undertakings and undertakings in which the company has a participating interest 547,300 474,620
Taxation and social security costs 1,909 1,309
Other creditors 35,500 25,950
604,476 543,546
6 Creditors: amounts falling due after one year 2023 2022
£ £
Other creditors 30,000 35,000
7 Loans 2023 2022
£ £
Creditors include:
Instalments falling due for payment after more than five years 5,000 10,000
8 Other financial commitments 2023 2022
£ £
Total future minimum payments under non-cancellable operating leases for rental of premises 314,750 359,250
9 Controlling party
The ultimate Parent Company is Balthorne Group Limited, a Company incorporated in the United Kingdom. The ultimate controlling party is Martin Zulberg, Director.
10 Other information
BSDC (TF) Limited is a private company limited by shares and incorporated in England. Its registered office is:
575 Finchley Road
London
NW3 7BN
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