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Registration number: 10678148

The Business Model Company Global Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

The Business Model Company Global Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 7

 

The Business Model Company Global Ltd

(Registration number: 10678148)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

-

2,877

Current assets

 

Debtors

6

1,264

42,367

Cash at bank and in hand

 

55,893

502,415

 

57,157

544,782

Creditors: Amounts falling due within one year

7

(36,441)

(212,506)

Net current assets

 

20,716

332,276

Net assets

 

20,716

335,153

Capital and reserves

 

Called up share capital

8

550

1,000

Retained earnings

20,166

334,153

Shareholders' funds

 

20,716

335,153

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 3 September 2024 and signed on its behalf by:

.........................................
Caroline Johnson
Director

 

The Business Model Company Global Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The Company Registration Number is: 10678148

The address of its registered office is:
18 Chesilton Road
Fulham
London
SW6 5AB
United Kingdom

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentation currency is £ Sterling.

The level of rounding is to the nearest £ Sterling.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Rendering of Services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

The Business Model Company Global Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture and Fittings

Straight Line 33.33%

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

The Business Model Company Global Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Financial instruments

Classification
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 recognised when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2023 - 4).

 

The Business Model Company Global Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Office Equipment
£

Total
£

Cost or valuation

At 1 April 2023

22,773

22,773

Disposals

(22,773)

(22,773)

At 31 March 2024

-

-

Depreciation

At 1 April 2023

19,896

19,896

Charge for the year

1,279

1,279

Eliminated on disposal

(21,175)

(21,175)

At 31 March 2024

-

-

Carrying amount

At 31 March 2024

-

-

At 31 March 2023

2,877

2,877

5

Investments

Subsidiaries

£

Cost or valuation

At 1 April 2023

795,654

At 31 March 2024

795,654

Provision

At 1 April 2023

795,654

At 31 March 2024

795,654

Carrying amount

At 31 March 2024

-

 

The Business Model Company Global Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

6

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

-

6,000

Amounts owed by related parties

-

1,093

Other debtors

 

1,264

35,274

   

1,264

42,367

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

-

11,910

Taxation and social security

36,441

150,302

Accruals and deferred income

-

30,000

Other creditors

-

20,294

36,441

212,506

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Allotted, Called up and fully paid of £1 each

550

550

1,000

1,000

         

9

Directors Advances, Credits and Guarantees

At 1 April 2023

Advances to directors

Repayments by directors

At 31 March 2024

£

£

£

£

Robert Connolly

(7,397)

12,517

(5,120)

-

Caroline Johnson

(404)

264,280

(265,134)

-

The above loans are unsecured, interest free and repayable on demand.

 

The Business Model Company Global Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

10

Related Party Transactions

Amounts owed by Subsidiaries

The company has availed of the exemption under FRS102 in relation to transactions with group companies.

11

Ultimate Controlling Party

No one individual has controlling interest in the company.