REGISTERED NUMBER: |
BA Technologies Limited |
Financial Statements |
for the Year Ended 31 December 2023 |
REGISTERED NUMBER: |
BA Technologies Limited |
Financial Statements |
for the Year Ended 31 December 2023 |
BA Technologies Limited (Registered number: 10901341) |
Contents of the Financial Statements |
for the year ended 31 December 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
BA Technologies Limited |
Company Information |
for the year ended 31 December 2023 |
Directors: |
Secretary: |
Registered office: |
Registered number: |
Auditors: |
Statutory Auditor |
250 Fowler Avenue |
Farnborough |
Hampshire |
GU14 7JP |
BA Technologies Limited (Registered number: 10901341) |
Balance Sheet |
31 December 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
Fixed assets |
Intangible assets | 4 |
Tangible assets | 5 |
Current assets |
Debtors | 6 |
Cash at bank |
Creditors |
Amounts falling due within one year | 7 |
Net current assets |
Total assets less current liabilities |
Capital and reserves |
Called up share capital | 9 |
Share premium | 10 |
Retained earnings | 10 | ( |
) | ( |
) |
Shareholders' funds |
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 |
BA Technologies Limited (Registered number: 10901341) |
Notes to the Financial Statements |
for the year ended 31 December 2023 |
1. | Statutory information |
BA Technologies Limited is a |
2. | Accounting policies |
Basis of preparing the financial statements |
Going concern |
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements. Refer to note 12 for details of a post year end share issue to help fund the working capital of the business going forward. |
Turnover |
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding value added tax. Turnover is recognised as each contract progresses and certain milestones are met. Variations on contacts are recognised once they are agreed with a customer to commence. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Software licenses are being amortised evenly over their estimated useful life of 3 years. |
Tangible fixed assets |
Leasehold improvements | - |
Plant and machinery | - |
Fixtures and fittings | - |
Computer equipment | - |
Financial instruments |
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument. |
Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due. |
Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts which are an integral part of the company's cash management. |
Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into the functional currency at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into the functional currency at the rate of exchange ruling at the date of transaction. Exchange differences are recognised in the income statement. |
BA Technologies Limited (Registered number: 10901341) |
Notes to the Financial Statements - continued |
for the year ended 31 December 2023 |
2. | Accounting policies - continued |
Leasing commitments |
Rentals paid under operating leases are charged to the income statement on a straight line basis over the lease term. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | Employees and directors |
The average number of employees during the year was |
4. | Intangible fixed assets |
Software |
licenses |
£ |
Cost |
At 1 January 2023 |
Additions |
At 31 December 2023 |
Amortisation |
At 1 January 2023 |
Amortisation for year |
At 31 December 2023 |
Net book value |
At 31 December 2023 |
At 31 December 2022 |
5. | Tangible fixed assets |
Fixtures |
Leasehold | Plant and | and | Computer |
improvements | machinery | fittings | equipment | Totals |
£ | £ | £ | £ | £ |
Cost |
At 1 January 2023 |
Additions |
At 31 December 2023 |
Depreciation |
At 1 January 2023 |
Charge for year |
At 31 December 2023 |
Net book value |
At 31 December 2023 |
At 31 December 2022 |
BA Technologies Limited (Registered number: 10901341) |
Notes to the Financial Statements - continued |
for the year ended 31 December 2023 |
6. | Debtors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
VAT |
Prepayments |
7. | Creditors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Trade creditors |
Social security and other taxes |
Other creditors |
Accruals and deferred income |
8. | Leasing agreements |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2023 | 2022 |
£ | £ |
Within one year |
Between one and five years |
9. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1 | 3 | 2 |
10. | Reserves |
Retained | Share |
earnings | premium | Totals |
£ | £ | £ |
At 1 January 2023 | ( |
) | 509,637 |
Deficit for the year | ( |
) | ( |
) |
Cash share issue | - | 2,999,999 | 2,999,999 |
At 31 December 2023 | ( |
) | 660,210 |
11. | Disclosure under Section 444(5B) of the Companies Act 2006 |
The Auditors' Report was unqualified. |
for and on behalf of |
BA Technologies Limited (Registered number: 10901341) |
Notes to the Financial Statements - continued |
for the year ended 31 December 2023 |
12. | Post balance sheet events |
On 3 April 2024 the board of directors approved the issue of one share to Windwings Holdings Limited with a subscription value of £1,500,000. This funds are to be used to sustain the current business. This amount was paid into the company's bank account on 4 April 2024. This has not made any changes to the ownership of the entity. |
13. | Ultimate controlling party |
The company's ultimate and immediate parent company is Windwings Holdings Limited, incorporated in England and Wales. |