BB Technology Ltd 13508012 false 2022-08-01 2023-07-31 2023-07-31 The principal activity of the company is that of the provision of an online platform to allow financial intermediation between investors and institutions. Digita Accounts Production Advanced 6.30.9574.0 true false true 13508012 2022-08-01 2023-07-31 13508012 2023-07-31 13508012 bus:OrdinaryShareClass1 2023-07-31 13508012 core:CurrentFinancialInstruments 2023-07-31 13508012 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 13508012 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-07-31 13508012 core:FurnitureFittingsToolsEquipment 2023-07-31 13508012 bus:SmallEntities 2022-08-01 2023-07-31 13508012 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 13508012 bus:FullAccounts 2022-08-01 2023-07-31 13508012 bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 13508012 bus:RegisteredOffice 2022-08-01 2023-07-31 13508012 bus:Director1 2022-08-01 2023-07-31 13508012 bus:Director2 2022-08-01 2023-07-31 13508012 bus:Director3 2022-08-01 2023-07-31 13508012 bus:Director4 2022-08-01 2023-07-31 13508012 bus:Director5 2022-08-01 2023-07-31 13508012 bus:Director6 2022-08-01 2023-07-31 13508012 bus:OrdinaryShareClass1 2022-08-01 2023-07-31 13508012 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 13508012 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-08-01 2023-07-31 13508012 core:FurnitureFittingsToolsEquipment 2022-08-01 2023-07-31 13508012 core:OfficeEquipment 2022-08-01 2023-07-31 13508012 1 2022-08-01 2023-07-31 13508012 countries:EnglandWales 2022-08-01 2023-07-31 13508012 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-07-31 13508012 core:FurnitureFittingsToolsEquipment 2022-07-31 13508012 2021-07-13 2022-07-31 13508012 2022-07-31 13508012 bus:OrdinaryShareClass1 2022-07-31 13508012 core:CurrentFinancialInstruments 2022-07-31 13508012 core:CurrentFinancialInstruments core:WithinOneYear 2022-07-31 13508012 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-07-31 13508012 core:FurnitureFittingsToolsEquipment 2022-07-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 13508012

BB Technology Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2023

 

BB Technology Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

BB Technology Ltd

Company Information

Directors

Mr Marc Simon Downes

Mr Paul John Brotherhood

Mr Simon Peter Fine

Mr Jonny Franklin-Adams

Mr Julian Jonathan Morse

Mr Timothy Bruce Cockroft

Registered office

Hygeia Building
Rear Ground Floor
66-68 College Road
Harrow
Middlesex
HA1 1BE

Accountants

Aventus Partners Limited
Hygeia Building
Ground Floor
66-68 College Road
Harrow
Middlesex
HA1 1BE

 

BB Technology Ltd

(Registration number: 13508012)
Balance Sheet as at 31 July 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

370,941

263,910

Tangible assets

5

443

554

 

371,384

264,464

Current assets

 

Cash at bank and in hand

 

124,204

268,802

Creditors: Amounts falling due within one year

6

(88,444)

(496,149)

Net current assets/(liabilities)

 

35,760

(227,347)

Net assets

 

407,144

37,117

Capital and reserves

 

Called up share capital

8

750,000

50,000

Retained earnings

(342,856)

(12,883)

Shareholders' funds

 

407,144

37,117

For the financial year ending 31 July 2023 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 and delivered 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.

These financial statements were approved and authorised for issue by the Board on 6 November 2023 and signed on its behalf by:
 

.........................................
Mr Marc Simon Downes
Director

 

BB Technology Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

1

General information

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

The address of its registered office is:
Hygeia Building
Rear Ground Floor
66-68 College Road
Harrow
Middlesex
HA1 1BE
United Kingdom

These financial statements were authorised for issue by the Board on 6 November 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.

The functional and presentational currency is GBP Sterling (£), being the currency of the primary economic environment in which the company operates in. The amounts are presented rounded to the nearest pound.

Going concern

The financial statements have been prepared on a going concern basis which the directors consider to be appropriate. The company has sufficient funds and a commitment from the shareholders. Therefore, the directors are of the opinion that the company will have sufficient funds to continue to meet its liabilities as they fall due for at least 12 months from the date of approval of the financial statements.

 

BB Technology Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023 (continued)

2

Accounting policies (continued)

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services and commissions receivable in the ordinary course of the company’s activities. Turnover is shown net of value added tax.

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.

Intangible Asset - Development costs

Development costs that are directly attributable to the design and testing of identifiable and unique software products controlled by the Company are recognised as intangible assets when the following criteria are met:
- it is technically feasible to complete the software so that it is available for use;
- management intends to complete the software and use or sell it;
- there is an ability to use or sell the software;
- it can be demonstrated how the software will generate probable future ecominc benefits;
- adequate technical, financial and other resources to complete the development and to use or sell the software is available; and
- the expenditure attributable to the software during its development can be reliably measured.

Expenditure on research and development activities which does not meet the above criteria is charged to the profit and loss as incurred.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Development costs

Over 3 years straight line

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.

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

Office equipment

20% Reducing balance basis

 

BB Technology Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023 (continued)

2

Accounting policies (continued)

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 creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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 monthly number of persons employed by the company (including directors) during the year, was 2 (2022: 2).

 

BB Technology Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023 (continued)

4

Intangible assets

Internally generated software development costs
 £

Cost

At 1 August 2022

263,910

Additions

153,542

At 31 July 2023

417,452

Amortisation

Amortisation charge

46,511

At 31 July 2023

46,511

Carrying amount

At 31 July 2023

370,941

At 31 July 2022

263,910

Internally generated software development costs consist of qualifying expenditure incurred by the Company on the development of a platform.
 

 

BB Technology Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023 (continued)

5

Tangible assets

Office equipment
 £

Cost

At 1 August 2022

692

At 31 July 2023

692

Depreciation

At 1 August 2022

138

Charge for the year

111

At 31 July 2023

249

Carrying amount

At 31 July 2023

443

At 31 July 2022

554

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

7

-

450,000

Trade creditors

 

50,695

9,177

Social security and other taxes

 

34,579

34,512

Accruals

 

3,170

2,460

 

88,444

496,149

7

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Other borrowings

-

450,000

 

BB Technology Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023 (continued)

7

Loans and borrowings (continued)

Other borrowing are unsecured interest free convertible loans of £Nil (2022: £450,000). These convertible loans were converted during the year into fully paid ordinary shares at a price of £1 per share.

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

750,000

750,000

50,000

50,000

         

9

Related party transactions

Summary of transactions with other related parties

The company has received services during the year of £144,701 provided by a company which has a common director.

10

Ultimate controlling party

There is no one ultimate controlling party.