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Registered Number: 11989558
England and Wales

 

 

 

BUTTERFLY SOLUTIONS LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 June 2022

End date: 31 May 2023
Director Praveen Kumar Chava
Registered Number 11989558
Registered Office 231 Kenton Road,
Harrow
Middlesex
HA3 0HD
Accountants 3E'S Accountants Limited
231 Kenton Road
Harrow
Middlesex
England
HA3 0HD
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 503    670 
503    670 
Current assets      
Debtors 4 8,969    8,800 
Cash at bank and in hand 143,834    74,628 
152,803    83,428 
Creditors: amount falling due within one year 5 (56,295)   (62,791)
Net current assets 96,508    20,637 
 
Total assets less current liabilities 97,011    21,307 
Provisions for liabilities 6 (96)   (127)
Net assets 96,915    21,180 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 96,815    21,080 
Shareholder's funds 96,915    21,180 
 


For the year ended 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 23 February 2024 and were signed by:


-------------------------------
Praveen Kumar Chava
Director
2
General Information
Butterfly Solutions Ltd is a private company, limited by shares, registered in England and Wales, registration number 11989558, registration address 231 Kenton Road,, Harrow, Middlesex, HA3 0HD.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 1 (2022 : 1).
3.

Tangible fixed assets

Cost or valuation Computer Equipment   Total
  £   £
At 01 June 2022 1,589    1,589 
Additions  
Disposals  
At 31 May 2023 1,589    1,589 
Depreciation
At 01 June 2022 919    919 
Charge for year 167    167 
On disposals  
At 31 May 2023 1,086    1,086 
Net book values
Closing balance as at 31 May 2023 503    503 
Opening balance as at 01 June 2022 670    670 


4.

Debtors: amounts falling due within one year

2023
£
  2022
£
Prepayments & Accrued Income 169   
Accrued Income 8,800    8,800 
8,969    8,800 

5.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 543    30,000 
Corporation Tax 26,173    8,503 
PAYE & Social Security 83    603 
Propsed Dividend 22,300    19,056 
Directors' Current Accounts 2,402    3,107 
VAT 4,794    1,522 
56,295    62,791 

6.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax 96    127 
96    127 

3