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Registration number: 14213698

BKP Associates Ltd

Annual Report and Unaudited Financial Statements

for the Period from 4 July 2022 to 31 July 2023

 

BKP Associates Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

BKP Associates Ltd

Company Information

Directors

Mrs Balwinder Kaur

Mr Amrik Singh

Registered office

82 Blackburn Road
Accrington
Lancashire
BB5 1LL

Accountants

Brown and Lonsdale Limited
82 Blackburn Road
Accrington
Lancashire
BB5 1LL

 

BKP Associates Ltd

(Registration number: 14213698)
Balance Sheet as at 31 July 2023

Note

2023
£

Fixed assets

 

Tangible assets

4

1,475

Current assets

 

Cash at bank and in hand

 

42,303

Creditors: Amounts falling due within one year

6

(19,455)

Net current assets

 

22,848

Net assets

 

24,323

Capital and reserves

 

Called up share capital

7

200

Retained earnings

24,123

Shareholders' funds

 

24,323

For the financial period ending 31 July 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 accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 30 November 2023 and signed on its behalf by:
 

.........................................
Mrs Balwinder Kaur
Director

 

BKP Associates Ltd

Notes to the Unaudited Financial Statements for the Period from 4 July 2022 to 31 July 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
82 Blackburn Road
Accrington
Lancashire
BB5 1LL
England

These financial statements were authorised for issue by the Board on 30 November 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

BKP Associates Ltd

Notes to the Unaudited Financial Statements for the Period from 4 July 2022 to 31 July 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

20% Per Annum Reducing Balance Basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 1.

 

BKP Associates Ltd

Notes to the Unaudited Financial Statements for the Period from 4 July 2022 to 31 July 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Additions

1,844

1,844

At 31 July 2023

1,844

1,844

Depreciation

Charge for the period

369

369

At 31 July 2023

369

369

Carrying amount

At 31 July 2023

1,475

1,475

5

Debtors

Current

2023
£

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

Due within one year

 

Loans and borrowings

8

10,976

Taxation and social security

 

8,479

 

19,455

7

Share capital

Allotted, called up and fully paid shares

 

2023

 

No.

£

Ordinary Share Capital of £1 each

100

100

Ordinary Share Capital of £1 each

100

100

 

200

200

 

BKP Associates Ltd

Notes to the Unaudited Financial Statements for the Period from 4 July 2022 to 31 July 2023

8

Loans and borrowings

2023
£

Current loans and borrowings

Other borrowings

10,976

9

Dividends

   

2023

 
   

£

 
       

10

Transition to FRS 102

Balance Sheet at
 

As originally reported
£

Reclassification
£

Remeasurement
£

As restated
£

Capital and reserves

Total equity

-

-

-

-

 

BKP Associates Ltd

Notes to the Unaudited Financial Statements for the Period from 4 July 2022 to 31 July 2023

Balance Sheet at
 

As originally reported
£

Reclassification
£

Remeasurement
£

As restated
£

Capital and reserves

Total equity

-

-

-

-