Company registration number 14281258 (England and Wales)
BFORTE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
PAGES FOR FILING WITH REGISTRAR
BFORTE LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
BFORTE LIMITED
BALANCE SHEET
AS AT
31 AUGUST 2023
31 August 2023
1
2023
Notes
£
£
Fixed assets
Tangible assets
3
5,196
Investment property
4
370,687
375,883
Current assets
Debtors
5
143,046
Cash at bank and in hand
20,750
163,796
Creditors: amounts falling due within one year
6
(446,317)
Net current liabilities
(282,521)
Total assets less current liabilities
93,362
Creditors: amounts falling due after more than one year
7
(105,300)
Net liabilities
(11,938)
Capital and reserves
Called up share capital
8
1
Profit and loss reserves
(11,939)
Total equity
(11,938)

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

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

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has 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.

BFORTE LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 AUGUST 2023
31 August 2023
2
The financial statements were approved and signed by the director and authorised for issue on 2 August 2024
Miss VP Glavcheva
Director
Company registration number 14281258 (England and Wales)
BFORTE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
3
1
Accounting policies
Company information

BFORTE Limited is a private company limited by shares incorporated in England and Wales. The registered office is 7 Bournemouth Road, Chandler's Ford, Eastleigh, Hampshire, SO53 3DA.

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, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration receivable for rent due in the period.

1.3
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:

Fixtures and fittings
Enter depreciation rate via StatDB - cd77
Computers
Enter depreciation rate via StatDB - cd198

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.

1.4
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

BFORTE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
1
Accounting policies (Continued)
4
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.

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.

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.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2
Employees

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

2023
Number
Total
-
0
BFORTE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
5
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 8 August 2022
-
0
Additions
6,929
At 31 August 2023
6,929
Depreciation and impairment
At 8 August 2022
-
0
Depreciation charged in the year
1,733
At 31 August 2023
1,733
Carrying amount
At 31 August 2023
5,196
4
Investment property
2023
£
Fair value
At 8 August 2022
-
0
Additions
370,687
At 31 August 2023
370,687

The director considers that the open market value of the investment properties is not materially different to the carrying value in the accounts.

5
Debtors
2023
Amounts falling due within one year:
£
Other debtors
143,046
BFORTE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
6
6
Creditors: amounts falling due within one year
2023
£
Other creditors
446,317
7
Creditors: amounts falling due after more than one year
2023
£
Bank loans and overdrafts
105,300

Other creditors includes a loan of £105,300, which is secured against the property to which it relates.

Creditors which fall due after five years are as follows:
2023
£
Payable other than by instalments
105,300
8
Called up share capital
2023
2023
Ordinary share capital
Number
£
Issued and fully paid
Ordinary shares of £1 each
1
1

During the period the company issued one ordinary share of £1 at par.

9
Related party transactions

During the period the company received loans from ImageVox Limited of £444,498, a company which is controlled by the director, Miss VP Glavcheva. The balance outstanding at 31 August 2023 was £444,498.

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