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COMPANY REGISTRATION NUMBER: 05673285
BWBF DIRECT LIMITED
FILLETED FINANCIAL STATEMENTS
31 December 2023
BWBF DIRECT LIMITED
STATEMENT OF FINANCIAL POSITION
31 December 2023
2023
2022
Note
£
£
£
Current assets
Stocks
1,749
6,655
Debtors
4
26,824
21,277
Cash at bank and in hand
116,647
278,273
----------
----------
145,220
306,205
Creditors: amounts falling due within one year
5
145,493
324,744
----------
----------
Net current liabilities
273
18,539
----
--------
Total assets less current liabilities
( 273)
( 18,539)
----
--------
Net liabilities
( 273)
( 18,539)
----
--------
Capital and reserves
Called up share capital
1
1
Profit and loss account
( 274)
( 18,540)
----
--------
Shareholder deficit
( 273)
( 18,539)
----
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements were approved by the board of directors and authorised for issue on 2 August 2024 , and are signed on behalf of the board by:
Mr J C D Mowe
Mr M Brace
Director
Director
Company registration number: 05673285
BWBF DIRECT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 10 Albion Place, Maidstone, Kent, ME14 5DZ, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value the statement of comprehensive income.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
At the year end date the Current Liabilities exceeded the Current Assets by £273 and the Gross Liabilities of the Company exceeded the Assets by £273. Included in Current Liabilities is an amount owed to the Parent Charity of £39,818. The Parent Charity has indicated that it would not call on this sum to be repaid while there is a Working Capital need within the Company. It is for this reason the Financial Statements have been drawn up on a Going Concern basis.
Judgements and key sources of estimation uncertainty
There are no significant estimates or assumptions made that have significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Debtors
Debtors are initially recorded at fair value and are assessed for impairment at each balance sheet date. If any impairments exist the debtors are re-measured to the present value of the expected future cash inflows.
Creditors
Creditors are initially recorded at fair value and are then re-measured to the present value of the expected future cash outflows.
4. Debtors
2023
2022
£
£
Trade debtors
11,933
14,689
Other debtors
14,891
6,588
--------
--------
26,824
21,277
--------
--------
5. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
94,475
25,494
Amounts owed to group undertakings.
39,818
291,150
Other creditors
11,200
8,100
----------
----------
145,493
324,744
----------
----------
6. Summary audit opinion
The auditor's report for the year dated 2 August 2024 was unqualified .
The senior statutory auditor was Philip Benson Woodman FCCA , for and on behalf of Opass Billings Wilson & Honey LLP .
7. Ultimate parent company
The company's ultimate parent company is British Wireless for the Blind Fund. It has included the company in its consolidated financial statements, copies of which are available from its registered office: 10 Albion Place, Maidstone, Kent, ME14 5DZ.