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BUZZ SOLOMOTO LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023






BUZZ SOLOMOTO LIMITED (REGISTERED NUMBER: 05835059)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BUZZ SOLOMOTO LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2023







DIRECTORS: A Beaumont
Mrs A J Beaumont





REGISTERED OFFICE: Fairfax House
6A Mill Field Road
Cottingley Business Park
BINGLEY
West Yorkshire
BD16 1PY





REGISTERED NUMBER: 05835059





ACCOUNTANTS: Wilkinson and Partners
Chartered Accountants
Fairfax House
6a Mill Field Road
Cottingley Business Park
Bradford
West Yorkshire
BD16 1PY

BUZZ SOLOMOTO LIMITED (REGISTERED NUMBER: 05835059)

BALANCE SHEET
31 AUGUST 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 38,494 51,325

CURRENT ASSETS
Stocks 5 233,250 297,560
Debtors 6 5,395 2,535
Cash at bank and in hand 68,128 66,154
306,773 366,249
CREDITORS
Amounts falling due within one year 7 71,593 72,149
NET CURRENT ASSETS 235,180 294,100
TOTAL ASSETS LESS CURRENT LIABILITIES 273,674 345,425

CREDITORS
Amounts falling due after more than one
year

8

(13,170

)

(21,341

)

PROVISIONS FOR LIABILITIES 9 (7,314 ) (9,752 )
NET ASSETS 253,190 314,332

CAPITAL AND RESERVES
Called up share capital 10 200,000 200,000
Retained earnings 53,190 114,332
SHAREHOLDERS' FUNDS 253,190 314,332

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

BUZZ SOLOMOTO LIMITED (REGISTERED NUMBER: 05835059)

BALANCE SHEET - continued
31 AUGUST 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 25 June 2024 and were signed on its behalf by:





A Beaumont - Director


BUZZ SOLOMOTO LIMITED (REGISTERED NUMBER: 05835059)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023


1. STATUTORY INFORMATION

Buzz Solomoto Limited is a private company, limited by shares , registered in Not specified/Other. 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.

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
Motor vehicles - 25% 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.

BUZZ SOLOMOTO LIMITED (REGISTERED NUMBER: 05835059)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 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 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 September 2022
and 31 August 2023 8,224 73,459 2,412 84,095
DEPRECIATION
At 1 September 2022 4,760 26,077 1,933 32,770
Charge for year 520 11,846 465 12,831
At 31 August 2023 5,280 37,923 2,398 45,601
NET BOOK VALUE
At 31 August 2023 2,944 35,536 14 38,494
At 31 August 2022 3,464 47,382 479 51,325

5. STOCKS
31.8.23 31.8.22
£    £   
Stocks 233,250 297,560

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade debtors 2,700 -
Other debtors 1,296 1,181
Prepayments 1,399 1,354
5,395 2,535

BUZZ SOLOMOTO LIMITED (REGISTERED NUMBER: 05835059)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Bank loans and overdrafts 128 1,937
Hire purchase contracts 8,171 8,171
Trade creditors 13,258 35,452
Tax 3,485 10,100
Social security and other taxes 373 422
VAT 13,510 14,854
Other creditors 76 84
Directors' current accounts 31,563 152
Accrued expenses 1,029 977
71,593 72,149

Loans from directors are interest free and repayable on demand.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.8.23 31.8.22
£    £   
Hire purchase contracts 13,170 21,341

9. PROVISIONS FOR LIABILITIES
31.8.23 31.8.22
£    £   
Deferred tax 7,314 9,752

Deferred
tax
£   
Balance at 1 September 2022 9,752
Accelerated capital allowances (2,438 )
Balance at 31 August 2023 7,314

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.23 31.8.22
value: £    £   
200,000 Ordinary shares £1.00 200,000 200,000

11. ULTIMATE CONTROLLING PARTY

The directors control the company by virtue of holding 100% of Ordinary share capital.