Company registration number 10961717 (England and Wales)
BSBL UK LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
BSBL UK LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 7
BSBL UK LIMITED
BALANCE SHEET
AS AT
30 JUNE 2023
30 June 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
23,486
52,665
Current assets
Debtors
4
246,081
734,582
Cash at bank and in hand
744,864
588,124
990,945
1,322,706
Creditors: amounts falling due within one year
5
(857,054)
(1,238,185)
Net current assets
133,891
84,521
Total assets less current liabilities
157,377
137,186
Provisions for liabilities
(5,824)
(9,618)
Net assets
151,553
127,568
Capital and reserves
Called up share capital
30,000
30,000
Profit and loss reserves
121,553
97,568
Total equity
151,553
127,568

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 26 January 2024 and are signed on its behalf by:
Mr S S Ahmed
Director
Company registration number 10961717 (England and Wales)
BSBL UK LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2023
- 2 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 July 2021
30,000
54,005
84,005
Year ended 30 June 2022:
Profit and total comprehensive income
-
43,563
43,563
Balance at 30 June 2022
30,000
97,568
127,568
Year ended 30 June 2023:
Profit and total comprehensive income
-
23,985
23,985
Balance at 30 June 2023
30,000
121,553
151,553
BSBL UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
- 3 -
1
Accounting policies
Company information

BSBL UK Limited is a private company limited by shares incorporated in England and Wales. The registered office is Suite 1, 7th Floor, 50 Broadway, London, SW1H 0BL.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The company has been provided with working capital from its parent and other related undertakings. These sums are repayable on demand. The directors of the related companies have indicated that they will not demand repayment and no formal request for repayment has been made as at the date of signing these financial statements.

 

The directors, having considered the above and with the continued support of the parent company, continue to adopt the going concern basis in the preparation of the financial statements. This assumes that the company will continue in operation for the foreseeable future.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable, in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover represents revenue earned under contracts to provide professional services to third parties. Such revenue is recognised as earned when, and to the extent that, the company fulfils its obligations regarding its performance under those contracts. It is measured at the fair value of the right to consideration, which represents amounts chargeable to clients, including recoverable expenses and disbursements.

 

For incomplete contracts, an assessment is made of the extent to which revenue has been earned. This assessment takes into account the nature of the assignment, its stage of completion, and the relevant contract terms.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
Depreciated over 4 years
Plant and equipment
Depreciated over 3 years
Fixtures and fittings
Depreciated over 4 years
Computers
Depreciated over 3 years
BSBL UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
1
Accounting policies
(Continued)
- 4 -

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

BSBL UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
1
Accounting policies
(Continued)
- 5 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.8
Retirement benefits

The company operates a defined contribution scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

1.9
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.10

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
11
9
BSBL UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 6 -
3
Tangible fixed assets
Leasehold improvements
Plant and equipment
Fixtures and fittings
Computers
Total
£
£
£
£
£
Cost
At 1 July 2022
92,865
9,484
93,670
80,885
276,904
Additions
-
0
-
0
-
0
13,882
13,882
At 30 June 2023
92,865
9,484
93,670
94,767
290,786
Depreciation and impairment
At 1 July 2022
76,289
9,377
80,365
58,208
224,239
Depreciation charged in the year
16,400
107
13,305
13,249
43,061
At 30 June 2023
92,689
9,484
93,670
71,457
267,300
Carrying amount
At 30 June 2023
176
-
0
-
0
23,310
23,486
At 30 June 2022
16,576
107
13,305
22,677
52,665
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
18,523
501,800
Other debtors
70,725
72,347
Prepayments
128,200
72,303
Accrued income
28,633
88,132
246,081
734,582
5
Creditors: amounts falling due within one year
2023
2022
£
£
Amounts due to fellow group undertakings
652,290
949,443
Trade creditors
96,221
98,463
Corporation tax
12,088
13,804
Other taxation and social security
31,348
109,139
Other creditors
1,903
1,815
Accruals and deferred income
63,204
65,521
857,054
1,238,185

All intercompany transactions are conducted under normal market terms.

BSBL UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 7 -
6
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Jonathan Hemmings FCA
Statutory Auditor:
Nunn Hayward LLP
7
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
74,026
74,026
2023-06-302022-07-01false26 January 2024CCH SoftwareCCH Accounts Production 2023.300No description of principal activityThis audit opinion is unqualifiedMr S S AhmedBrewer Smith & Brewer Gulf LtdVistra CoSec Limitedfalse109617172022-07-012023-06-30109617172023-06-30109617172022-06-3010961717core:LeaseholdImprovements2023-06-3010961717core:PlantMachinery2023-06-3010961717core:FurnitureFittings2023-06-3010961717core:ComputerEquipment2023-06-3010961717core:LeaseholdImprovements2022-06-3010961717core:PlantMachinery2022-06-3010961717core:FurnitureFittings2022-06-3010961717core:ComputerEquipment2022-06-3010961717core:CurrentFinancialInstrumentscore:WithinOneYear2023-06-3010961717core:CurrentFinancialInstrumentscore:WithinOneYear2022-06-3010961717core:CurrentFinancialInstruments2023-06-3010961717core:CurrentFinancialInstruments2022-06-3010961717core:ShareCapital2023-06-3010961717core:ShareCapital2022-06-3010961717core:RetainedEarningsAccumulatedLosses2023-06-3010961717core:RetainedEarningsAccumulatedLosses2022-06-3010961717core:ShareCapital2021-06-3010961717core:RetainedEarningsAccumulatedLosses2021-06-3010961717bus:Director12022-07-012023-06-3010961717core:RetainedEarningsAccumulatedLosses2021-07-012022-06-30109617172021-07-012022-06-3010961717core:RetainedEarningsAccumulatedLosses2022-07-012023-06-3010961717core:LeaseholdImprovements2022-07-012023-06-3010961717core:PlantMachinery2022-07-012023-06-3010961717core:FurnitureFittings2022-07-012023-06-3010961717core:ComputerEquipment2022-07-012023-06-3010961717core:LeaseholdImprovements2022-06-3010961717core:PlantMachinery2022-06-3010961717core:FurnitureFittings2022-06-3010961717core:ComputerEquipment2022-06-30109617172022-06-3010961717bus:PrivateLimitedCompanyLtd2022-07-012023-06-3010961717bus:SmallCompaniesRegimeForAccounts2022-07-012023-06-3010961717bus:FRS1022022-07-012023-06-3010961717bus:Audited2022-07-012023-06-3010961717bus:Director22022-07-012023-06-3010961717bus:CompanySecretary12022-07-012023-06-3010961717bus:FullAccounts2022-07-012023-06-30xbrli:purexbrli:sharesiso4217:GBP