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COMPANY REGISTRATION NUMBER: 03371200
BUSINESS FINANCE OPTIONS LIMITED
Filleted Unaudited Abridged Financial Statements
31 May 2023
BUSINESS FINANCE OPTIONS LIMITED
Abridged Statement of Financial Position
31 May 2023
2023
2022
Note
£
£
£
Current assets
Debtors
20,690
Cash at bank and in hand
82
292
--------
----
20,772
292
Creditors: amounts falling due within one year
21,002
522
--------
----
Net current liabilities
230
230
----
----
Total assets less current liabilities
( 230)
( 230)
----
----
Net liabilities
( 230)
( 230)
----
----
BUSINESS FINANCE OPTIONS LIMITED
Abridged Statement of Financial Position (continued)
31 May 2023
2023
2022
Note
£
£
£
Capital and reserves
Called up share capital
230,000
230,000
Profit and loss account
( 230,230)
( 230,230)
---------
---------
Shareholders deficit
( 230)
( 230)
---------
---------
These abridged 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 Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
For the year ending 31st May 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 abridged financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31st May 2023 in accordance with Section 444(2A) of the Companies Act 2006.
These abridged financial statements were approved by the board of directors and authorised for issue on 12 April 2024 , and are signed on behalf of the board by:
H D L BISHOP
Director
Company registration number: 03371200
BUSINESS FINANCE OPTIONS LIMITED
Notes to the Abridged Financial Statements
Year ended 31st May 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Eight Bells House, 14 Church Street, Tetbury, GL8 8JG. The address of the company's place of business is Lavender Cottage, South Street, Aldbourne, Wiltshire, United Kingdom, SN8 2DW.
2. Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: No cash flow statement has been presented for the company. Disclosures in respect of financial instruments have not been presented.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2022: 2 ).
5. Directors' advances, credits and guarantees
The company made advances to a director during the year of which £16,125 was outstanding at the balance sheet date .
6. Related party transactions
The company was under the control of Mr H D L Bishop and members of his family throughout the current and previous year. Mr Bishop is the managing director. No transactions with related parties were undertaken such as are required to be disclosed under FRS 102 .