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Company Registration No. 4592615 (England and Wales)
Balmoral Systems Limited Unaudited accounts for the year ended 31 August 2023
Balmoral Systems Limited Unaudited accounts Contents
Page
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Balmoral Systems Limited Company Information for the year ended 31 August 2023
Directors
Roberto Fantini Peter Jones
Company Number
4592615 (England and Wales)
Registered Office
Unit 3 Brunel Lock Development Smeaton Road Bristol BS1 6SE
Accountants
Evans Entwistle 10 Fountain Court, Elm House New Leaze Bradley Stoke Bristol BS32 4LA
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Chartered Management Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Balmoral Systems Limited for the year ended 31 August 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Balmoral Systems Limited for the year ended 31 August 2023 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.
As a CIMA Registered Member in Practice and Practising Certificate holder, I am subject to its ethical and other professional requirements which are detailed at https://www.cimaglobal.com/Members/Your-Membership-Information/Members-handbook/Licensing-and-monitoring/Members-in-practice/
Our work has been undertaken in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com.
Evans Entwistle Member in Practice 10 Fountain Court, Elm House New Leaze Bradley Stoke Bristol BS32 4LA 19 April 2024
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Balmoral Systems Limited Statement of financial position as at 31 August 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
139,333 
85,614 
Current assets
Inventories
202,292 
71,269 
Debtors
540,462 
345,317 
Cash at bank and in hand
35,232 
58,325 
777,986 
474,911 
Creditors: amounts falling due within one year
(467,677)
(285,352)
Net current assets
310,309 
189,559 
Total assets less current liabilities
449,642 
275,173 
Creditors: amounts falling due after more than one year
(57,980)
(15,471)
Provisions for liabilities
Deferred tax
- 
(16,267)
Net assets
391,662 
243,435 
Capital and reserves
Called up share capital
200 
200 
Profit and loss account
391,462 
243,235 
Shareholders' funds
391,662 
243,435 
For the year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts 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 FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 19 April 2024 and were signed on its behalf by
Roberto Fantini Director Company Registration No. 4592615
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Balmoral Systems Limited Notes to the Accounts for the year ended 31 August 2023
1
Statutory information
Balmoral Systems Limited is a private company, limited by shares, registered in England and Wales, registration number 4592615. The registered office is Unit 3 Brunel Lock Development, Smeaton Road, Bristol, BS1 6SE.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Balmoral Systems Limited Notes to the Accounts for the year ended 31 August 2023
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 September 2022
15,800 
At 31 August 2023
15,800 
Amortisation
At 1 September 2022
15,800 
At 31 August 2023
15,800 
Net book value
At 31 August 2023
- 
5
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 September 2022
20,092 
142,526 
72,685 
- 
235,303 
Additions
1,367 
58,404 
- 
86,516 
146,287 
Disposals
- 
- 
(70,723)
- 
(70,723)
At 31 August 2023
21,459 
200,930 
1,962 
86,516 
310,867 
Depreciation
At 1 September 2022
18,866 
74,289 
56,534 
- 
149,689 
Charge for the year
1,249 
11,140 
222 
64,250 
76,861 
On disposals
- 
- 
(55,016)
- 
(55,016)
At 31 August 2023
20,115 
85,429 
1,740 
64,250 
171,534 
Net book value
At 31 August 2023
1,344 
115,501 
222 
22,266 
139,333 
At 31 August 2022
1,226 
68,237 
16,151 
- 
85,614 
6
Inventories
2023 
2022 
£ 
£ 
Work in progress
172,507 
34,338 
Finished goods
29,785 
36,931 
202,292 
71,269 
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Balmoral Systems Limited Notes to the Accounts for the year ended 31 August 2023
7
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
532,125 
326,313 
Accrued income and prepayments
8,121 
19,004 
Other debtors
216 
- 
540,462 
345,317 
8
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
19,399 
13,973 
VAT
84,215 
- 
Obligations under finance leases and hire purchase contracts
25,563 
16,275 
Trade creditors
200,628 
144,896 
Taxes and social security
97,831 
79,915 
Other creditors
27,941 
28,579 
Loans from directors
- 
217 
Accruals
12,100 
1,497 
467,677 
285,352 
9
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Obligations under finance leases and hire purchase contracts
57,980 
15,471 
10
Deferred taxation
2023 
2022 
£ 
£ 
Accelerated capital allowances
- 
16,267 
2023 
2022 
£ 
£ 
Provision at start of year
16,267 
20,149 
Credited to the profit and loss account
(16,267)
(3,882)
Provision at end of year
- 
16,267 
11
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
200 Ordinary shares of £1 each
200 
200 
12
Average number of employees
During the year the average number of employees was 0 (2022: 0).
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