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REGISTERED NUMBER: 06441797 (England and Wales)














Financial Statements

for the Year Ended 30 November 2023

for

BSP Partners Limited

BSP Partners Limited (Registered number: 06441797)

Contents of the Financial Statements
for the Year Ended 30 November 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BSP Partners Limited

Company Information
for the Year Ended 30 November 2023







DIRECTORS: Mrs S Wong
P N Wong
B P Wong
Ms C F Cartwright





SECRETARY: Mrs S Wong





REGISTERED OFFICE: Oriel House
2 - 8 Oriel Road
Bootle
Merseyside
L20 7EP





REGISTERED NUMBER: 06441797 (England and Wales)





ACCOUNTANTS: SB&P
Chartered Accountants
Oriel House
2-8 Oriel Road
Bootle
Liverpool
Merseyside
L20 7EP

BSP Partners Limited (Registered number: 06441797)

Balance Sheet
30 November 2023

30.11.23 30.11.22
as restated
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 79,690 77,900
79,690 77,900

CURRENT ASSETS
Stocks 822,205 924,175
Debtors 6 (121,926 ) (72,072 )
Cash at bank and in hand 844,299 613,876
1,544,578 1,465,979
CREDITORS
Amounts falling due within one year 7 472,002 537,597
NET CURRENT ASSETS 1,072,576 928,382
TOTAL ASSETS LESS CURRENT LIABILITIES 1,152,266 1,006,282

PROVISIONS FOR LIABILITIES 16,980 12,444
NET ASSETS 1,135,286 993,838

CAPITAL AND RESERVES
Called up share capital 8 303 303
Retained earnings 1,134,983 993,535
SHAREHOLDERS' FUNDS 1,135,286 993,838

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

BSP Partners Limited (Registered number: 06441797)

Balance Sheet - continued
30 November 2023


The 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 August 2024 and were signed on its behalf by:




B P Wong - Director P N Wong - Director




Mrs S Wong - Director


BSP Partners Limited (Registered number: 06441797)

Notes to the Financial Statements
for the Year Ended 30 November 2023


1. STATUTORY INFORMATION

BSP Partners Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2007 was deemed to have an estimated remaining useful life of 5 years in 2015. It is being amortised evenly over its estimated useful life.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

BSP Partners Limited (Registered number: 06441797)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023


2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2022 - NIL ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2022
and 30 November 2023 300,000
AMORTISATION
At 1 December 2022
and 30 November 2023 300,000
NET BOOK VALUE
At 30 November 2023 -
At 30 November 2022 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 December 2022 402,926
Additions 15,186
At 30 November 2023 418,112
DEPRECIATION
At 1 December 2022 325,026
Charge for year 13,396
At 30 November 2023 338,422
NET BOOK VALUE
At 30 November 2023 79,690
At 30 November 2022 77,900

BSP Partners Limited (Registered number: 06441797)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
as restated
£    £   
Trade debtors (129,387 ) (79,029 )
Other debtors 7,461 6,957
(121,926 ) (72,072 )

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
as restated
£    £   
Trade creditors 102,352 192,858
Taxation and social security 158,596 109,433
Other creditors 211,054 235,306
472,002 537,597

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.23 30.11.22
value: as restated
£    £   
299 Ordinary £1 299 299
1 Ordinary A £1 1 1
1 Ordinary B £1 1 1
1 Ordinary C £1 1 1
1 Ordinary D £1 1 1
303 303