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Registered number: 05530211
Berrywood Business Services Limited
Unaudited Financial Statements
For The Year Ended 31 August 2023
Berrywood Accountants
The New Studio
Wintershill Farm
Wintershill, Durley
Hampshire
SO32 2AH
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05530211
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 20,000 20,000
Tangible Assets 5 41,277 53,501
61,277 73,501
CURRENT ASSETS
Debtors 6 144,220 146,025
Cash at bank and in hand 20,180 43,945
164,400 189,970
Creditors: Amounts Falling Due Within One Year 7 (98,631 ) (79,029 )
NET CURRENT ASSETS (LIABILITIES) 65,769 110,941
TOTAL ASSETS LESS CURRENT LIABILITIES 127,046 184,442
Creditors: Amounts Falling Due After More Than One Year 8 (64,525 ) (118,840 )
NET ASSETS 62,521 65,602
CAPITAL AND RESERVES
Called up share capital 9 100 100
Revaluation reserve 11 10,000 10,000
Profit and Loss Account 52,421 55,502
SHAREHOLDERS' FUNDS 62,521 65,602
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For the year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Miss Teresa Phillips
Director
30/08/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Berrywood Business Services Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05530211 . The registered office is The New Studio, Wintershill Farm, Wintershill, Durley, Hampshire, SO32 2AH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery Nil first year, 25% RB thereafter
Office and computer equipment 3 years straight line after first year
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2022: 7)
7 7
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4. Intangible Assets
Goodwill
£
Cost
As at 1 September 2022 20,000
As at 31 August 2023 20,000
Net Book Value
As at 31 August 2023 20,000
As at 1 September 2022 20,000
5. Tangible Assets
Plant & Machinery Office and computer equipment Total
£ £ £
Cost
As at 1 September 2022 48,166 73,544 121,710
Additions - 1,667 1,667
As at 31 August 2023 48,166 75,211 123,377
Depreciation
As at 1 September 2022 26,146 42,063 68,209
Provided during the period 5,505 8,386 13,891
As at 31 August 2023 31,651 50,449 82,100
Net Book Value
As at 31 August 2023 16,515 24,762 41,277
As at 1 September 2022 22,020 31,481 53,501
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 117,353 136,384
Prepayments and accrued income 6,178 9,641
123,531 146,025
Due after more than one year
Directors loan account 20,689 -
20,689 -
144,220 146,025
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7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 19,179 8,999
Bank loans and overdrafts 2,583 -
Corporation tax 3,576 -
VAT 24,534 31,588
Other creditors 22,442 13,442
Accruals and deferred income 26,317 25,000
98,631 79,029
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 26,608 108,627
Other loans 37,065 -
Other taxes and social security 852 1,514
Directors loan account - 8,699
64,525 118,840
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
10. Dividends
2023 2022
£ £
On equity shares:
Interim dividend paid 4,000 -
Final dividend paid 2,000 -
6,000 -
11. Reserves
Revaluation Reserve
£
As at 1 September 2022 10,000
As at 31 August 2023 10,000
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