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REGISTERED NUMBER: 03399705 (England and Wales)
























UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1 JANUARY 2023 TO 30 NOVEMBER 2023

FOR

B.S NET LIMITED

B.S NET LIMITED (REGISTERED NUMBER: 03399705)

CONTENTS OF THE FINANCIAL STATEMENTS
For The Period 1 January 2023 to 30 November 2023










Page

Balance Sheet 1

Notes to the Financial Statements 3


B.S NET LIMITED (REGISTERED NUMBER: 03399705)

BALANCE SHEET
30 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 30,726 30,390
30,726 30,390

CURRENT ASSETS
Stocks 716 -
Debtors 6 547,048 165,079
Cash at bank and in hand 88,589 256,181
636,353 421,260
CREDITORS
Amounts falling due within one year 7 285,435 251,624
NET CURRENT ASSETS 350,918 169,636
TOTAL ASSETS LESS CURRENT LIABILITIES 381,644 200,026

CREDITORS
Amounts falling due after more than one
year

8

(15,637

)

(24,181

)

PROVISIONS FOR LIABILITIES - (4,116 )
NET ASSETS 366,007 171,729

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 365,907 171,629
SHAREHOLDERS' FUNDS 366,007 171,729

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

The members have not required the company to obtain an audit of its financial statements for the period 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.

B.S NET LIMITED (REGISTERED NUMBER: 03399705)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 August 2024 and were signed on its behalf by:





S J Dancy - Director


B.S NET LIMITED (REGISTERED NUMBER: 03399705)

NOTES TO THE FINANCIAL STATEMENTS
For The Period 1 January 2023 to 30 November 2023


1. STATUTORY INFORMATION

B.S Net Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 03399705

Registered office: First Floor, Bank Chambers
53 Wade Street
Lichfield
WS13 6HL

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

No significant judgements (apart from those involving estimations) have been made by management in the process of applying the entity's accounting policies and preparing these financial statements.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. There have been no key assumptions or there sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

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 2013, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance

At each balance sheet date assets not carried at fair value are assessed to determine whether there is an indication that the asset may be impaired. If there is such an indication the recoverable amount of the asset is compared to the carrying amount of the asset.

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

B.S NET LIMITED (REGISTERED NUMBER: 03399705)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Period 1 January 2023 to 30 November 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
The company holds basic financial instruments as defined in FRS102. The financial assets and financial liabilities of the company and their measurement basis are as follows:

Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at amortised cost.

Financial liabilities - trade creditors, accruals and other creditors and basic financial instruments and are measured at amortised cost. Taxation and social security and not included in the financial instruments disclosure definition.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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 period 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Pension costs and other post-retirement benefits
The pension cost charge represents contributions payable by the Company to the fund and amounted to £2,031 (2022 - £3,338). Contributions totalling £363 (2022 - £594) were payable to the fund at the balance sheet date and are included in creditors.

Debtors
Short term debtors are initially measured at transaction price less attributable costs. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

B.S NET LIMITED (REGISTERED NUMBER: 03399705)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Period 1 January 2023 to 30 November 2023


2. ACCOUNTING POLICIES - continued

Creditors
Short term trade creditors are initially measured at transaction price less attributable costs. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 5 (2022 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 30 November 2023 11,775
AMORTISATION
At 1 January 2023
and 30 November 2023 11,775
NET BOOK VALUE
At 30 November 2023 -
At 31 December 2022 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 107,779
Additions 9,545
At 30 November 2023 117,324
DEPRECIATION
At 1 January 2023 77,389
Charge for period 9,209
At 30 November 2023 86,598
NET BOOK VALUE
At 30 November 2023 30,726
At 31 December 2022 30,390

B.S NET LIMITED (REGISTERED NUMBER: 03399705)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Period 1 January 2023 to 30 November 2023


5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 January 2023 36,095
Reclassification/transfer (36,095 )
At 30 November 2023 -
DEPRECIATION
At 1 January 2023 27,370
Reclassification/transfer (27,370 )
At 30 November 2023 -
NET BOOK VALUE
At 30 November 2023 -
At 31 December 2022 8,725

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 230,247 37,570
Amounts owed by group undertakings 300,000 100,000
Other debtors 16,801 27,509
547,048 165,079

Amounts owed by group undertakings are unsecured, interest free and repayable on demand

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts - 7,918
Trade creditors 110,373 20,720
Taxation and social security 66,456 84,775
Other creditors 98,606 128,211
285,435 251,624

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 15,637 24,181

B.S NET LIMITED (REGISTERED NUMBER: 03399705)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Period 1 January 2023 to 30 November 2023


9. RELATED PARTY DISCLOSURES

At the year end, the company was owed £300,000 (2022 £100,000) by group undertakings. The loans are unsecured, interest free and repayable on demand.

10. ULTIMATE CONTROLLING PARTY

The controlling party is Rydal Communications Ltd.