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REGISTERED NUMBER: 06774086 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 December 2023

for

BGDN LIMITED

BGDN LIMITED (REGISTERED NUMBER: 06774086)

Contents of the Financial Statements
for the year ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

BGDN LIMITED

Company Information
for the year ended 31 December 2023







Director: D E Nichols





Registered office: C/O Cooper Parry
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA





Registered number: 06774086 (England and Wales)





Accountants: Cooper Parry Advisory Limited
Aissela
46 High Street
Esher
Surrey
KT10 9QY

BGDN LIMITED (REGISTERED NUMBER: 06774086)

Balance Sheet
31 December 2023

2023 2022
Notes £ £ £ £
Fixed assets
Intangible assets 4 242,528 291,034
Tangible assets 5 145,700 81,664
388,228 372,698

Current assets
Debtors 6 750,656 744,889
Investments 7 51,500 51,500
Cash at bank 915,897 899,453
1,718,053 1,695,842
Creditors
Amounts falling due within one year 8 307,733 266,640
Net current assets 1,410,320 1,429,202
Total assets less current liabilities 1,798,548 1,801,900

Creditors
Amounts falling due after more than one
year

9

(33,611

)

(46,753

)

Provisions for liabilities 10 (24,310 ) (12,772 )
Net assets 1,740,627 1,742,375

Capital and reserves
Called up share capital 104 100
Retained earnings 1,740,523 1,742,275
Shareholders' funds 1,740,627 1,742,375

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

BGDN LIMITED (REGISTERED NUMBER: 06774086)

Balance Sheet - continued
31 December 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 September 2024 and were signed by:





D E Nichols - Director


BGDN LIMITED (REGISTERED NUMBER: 06774086)

Notes to the Financial Statements
for the year ended 31 December 2023


1. Statutory information

BGDN Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Key source of estimation, uncertainty and judgement
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets.

There is estimation uncertainty in calculating deferred tax. A full line by line review of deferred tax is carried out by management regularly. Whilst every attempt is made to ensure that the deferred tax is as accurate as possible, there remains a risk that the provisions do not match the actual tax liability when asset is disposed of.

There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of twenty years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to Property - 10% straight line
Plant & Machinery - 20% reducing balance

BGDN LIMITED (REGISTERED NUMBER: 06774086)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


2. Accounting policies - continued

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.

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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 2 (2022 - 2 ) .

BGDN LIMITED (REGISTERED NUMBER: 06774086)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


4. Intangible fixed assets
Goodwill
£
Cost
At 1 January 2023
and 31 December 2023 970,113
Amortisation
At 1 January 2023 679,079
Charge for year 48,506
At 31 December 2023 727,585
Net book value
At 31 December 2023 242,528
At 31 December 2022 291,034

5. Tangible fixed assets
Plant and
machinery
etc
£
Cost
At 1 January 2023 125,342
Additions 101,557
At 31 December 2023 226,899
Depreciation
At 1 January 2023 43,678
Charge for year 37,521
At 31 December 2023 81,199
Net book value
At 31 December 2023 145,700
At 31 December 2022 81,664

6. Debtors: amounts falling due within one year
2023 2022
£ £
Trade debtors 328,469 311,507
Other debtors 422,187 433,382
750,656 744,889

7. Current asset investments
2023 2022
£ £
Other 51,500 51,500

BGDN LIMITED (REGISTERED NUMBER: 06774086)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


8. Creditors: amounts falling due within one year
2023 2022
£ £
Hire purchase contracts 13,142 13,142
Trade creditors 48,354 783
Taxation and social security 221,055 233,786
Other creditors 25,182 18,929
307,733 266,640

9. Creditors: amounts falling due after more than one year
2023 2022
£ £
Hire purchase contracts 33,611 46,753

10. Provisions for liabilities
2023 2022
£ £
Deferred tax 24,310 12,772

Deferred tax
£
Balance at 1 January 2023 12,772
Provision for the year 11,538
Balance at 31 December 2023 24,310

11. Related party disclosures

As at 31 December 2023, the company owed £364,955 (2022: £266,402) to D E Nichols. This loan is interest free and repayable on demand.

12. Ultimate controlling party

The company is controlled by the majority shareholder, D E Nichols.

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
BGDN Limited


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of BGDN Limited for the year ended 31 December 2023 which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of BGDN Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of BGDN Limited and state those matters that we have agreed to state to the director of BGDN Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than BGDN Limited and its director for our work or for this report.

It is your duty to ensure that BGDN Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of BGDN Limited. You consider that BGDN Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of BGDN Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Cooper Parry Advisory Limited
Aissela
46 High Street
Esher
Surrey
KT10 9QY


23 September 2024