Company registration number 13325929 (England and Wales)
BCE Partners UK Ltd
Financial Statements
For the year ended
31 December 2023
Pages for filing with registrar
BCE Partners UK Ltd
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 4
BCE Partners UK Ltd
Statement Of Financial Position
As at 31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Current assets
Debtors
4
489,686
78,692
Cash at bank and in hand
62,903
433,016
552,589
511,708
Creditors: amounts falling due within one year
5
(37,187)
(60,974)
Net current assets
515,402
450,734
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss reserves
514,402
449,734
Total equity
515,402
450,734
The notes on pages 2 to 4 form part of these financial statements.
The director of the company has elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his 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.
The financial statements were approved and signed by the director and authorised for issue on 7 August 2024
Mr K.V. Rele
Director
Company registration number 13325929 (England and Wales)
BCE Partners UK Ltd
Notes To The Financial Statements
For the year ended 31 December 2023
- 2 -
1
General information
BCE Partners UK Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Dixcart House, Addlestone Road, Bourne Business Park, Addlestone, Surrey, KT15 2LE.
2
Accounting policies
2.1
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. The principal accounting policies adopted are set out below.
2.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably.
2.3
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.
2.4
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.
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors, are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.
BCE Partners UK Ltd
Notes To The Financial Statements (Continued)
For the year ended 31 December 2023
2
Accounting policies
(Continued)
- 3 -
2.5
Taxation
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
2.6
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
2.7
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2.8
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
2.9
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
4
3
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
80,500
14,000
Amounts owed by group undertakings
382,484
38,341
Other debtors
26,702
26,351
489,686
78,692
BCE Partners UK Ltd
Notes To The Financial Statements (Continued)
For the year ended 31 December 2023
- 4 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
5,378
2,222
Corporation tax
19,652
52,784
Other creditors
12,157
5,968
37,187
60,974
6
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2023
2022
£
£
27,375
136,875
7
Controlling party
Throughout both periods, the company was controlled by its parent company, BCE partners LLC, a company incorporated in the United States of America. The registered office is 471 Sherwood Way, Menlo Park, California, USA, 94025.