Registered number
09970575
BSR IT Limited
Filleted Accounts
31 January 2024
BSR IT Limited
Registered number: 09970575
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 41,722 55,084
Current assets
Debtors 4 360,578 139,235
Cash at bank and in hand 282,713 411,417
643,291 550,652
Creditors: amounts falling due within one year 5 (40,130) (30,671)
Net current assets 603,161 519,981
Net assets 644,883 575,065
Capital and reserves
Called up share capital 10 10
Profit and loss account 644,873 575,055
Shareholders' funds 644,883 575,065
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Baljit Singh Rakkar
Director
Approved by the board on 3 August 2024
BSR IT Limited
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 3 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 1
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 February 2023 1,650 68,916 70,566
Additions 1,457 - 1,457
At 31 January 2024 3,107 68,916 72,023
Depreciation
At 1 February 2023 550 14,932 15,482
Charge for the year 1,036 13,783 14,819
At 31 January 2024 1,586 28,715 30,301
Net book value
At 31 January 2024 1,521 40,201 41,722
At 31 January 2023 1,100 53,984 55,084
4 Debtors 2024 2023
£ £
Trade debtors 38,515 17,740
Amounts owed by group undertakings and undertakings in which the company has a participating interest 322,063 121,495
360,578 139,235
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 39,992 24,412
Other creditors 138 6,259
40,130 30,671
6 Other information
BSR IT Limited is a private company limited by shares and incorporated in England. Its registered office is:
85 Great Portland Street
London
W1W 7LT
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