Company registration number 05724287 (England and Wales)
B2B QUOTE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
B2B QUOTE LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
B2B QUOTE LIMITED
BALANCE SHEET
AS AT 30 JUNE 2023
30 June 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
4
153,941
181,726
Tangible assets
5
17,820
23,851
171,761
205,577
Current assets
Debtors
6
26,275
31,436
Cash at bank and in hand
1,139,159
1,016,235
1,165,434
1,047,671
Creditors: amounts falling due within one year
7
(144,096)
(103,914)
Net current assets
1,021,338
943,757
Total assets less current liabilities
1,193,099
1,149,334
Provisions for liabilities
8
(42,940)
(39,060)
Net assets
1,150,159
1,110,274
Capital and reserves
Called up share capital
9
570
570
Capital redemption reserve
630
630
Profit and loss reserves
1,148,959
1,109,074
Total equity
1,150,159
1,110,274

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

For the financial year ended 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

B2B QUOTE LIMITED
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2023
30 June 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 12 September 2023 and are signed on its behalf by:
Mr R Griffiths
Director
Company registration number 05724287 (England and Wales)
B2B QUOTE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
- 3 -
1
Accounting policies
Company information

B2B Quote Limited is a private company limited by shares incorporated in England and Wales. The registered office is 88 Hill Village Road, Sutton Coldfield, West Midlands, United Kingdom, B75 5BE.

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

1.2
Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

1.3
Intangible fixed assets other than goodwill

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated depreciation and any accumulated impairment losses.

 

The website and software development acquired during the years ended 30 June 2018 & 2018 is being amortised over the following time period:

Development costs
10 years
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 provided at the following annual rates in order to write off each asset over it's estimated useful life.

Fixtures and fittings
33% on cost
Motor vehicles
25% on reducing balance
1.5
Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current tax

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

B2B QUOTE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

 

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

1.6
Retirement benefits

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

2
Employees

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

2023
2022
Number
Number
Total
8
8
3
Taxation
2023
2022
£
£
Current tax
UK corporation tax on profits for the current period
41,830
30,703
Adjustments in respect of prior periods
(46)
-
0
Total current tax
41,784
30,703
Deferred tax
Origination and reversal of timing differences
3,881
(1,697)
Total tax charge
45,665
29,006
B2B QUOTE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 5 -
4
Intangible fixed assets
Other
£
Cost
At 1 July 2022 and 30 June 2023
277,854
Amortisation and impairment
At 1 July 2022
96,128
Amortisation charged for the year
27,785
At 30 June 2023
123,913
Carrying amount
At 30 June 2023
153,941
At 30 June 2022
181,726
5
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2022
80,901
Additions
2,467
At 30 June 2023
83,368
Depreciation and impairment
At 1 July 2022
57,050
Depreciation charged in the year
8,498
At 30 June 2023
65,548
Carrying amount
At 30 June 2023
17,820
At 30 June 2022
23,851
6
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
26,275
31,436
B2B QUOTE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 6 -
7
Creditors: amounts falling due within one year
2023
2022
£
£
Taxation and social security
99,499
84,695
Other creditors
44,597
19,219
144,096
103,914
8
Provisions for liabilities
2023
2022
£
£
Deferred tax liabilities
42,940
39,060
9
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
570
570
570
570
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