Acorah Software Products - Accounts Production 15.0.600 false true true 31 December 2022 2 November 2021 false 1 January 2023 31 December 2023 31 December 2023 13719170 Mr Joshua Alan Christopher Brierley Mr Joshua Paul Norgate iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 13719170 2022-12-31 13719170 2023-12-31 13719170 2023-01-01 2023-12-31 13719170 frs-core:CurrentFinancialInstruments 2023-12-31 13719170 frs-core:Non-currentFinancialInstruments 2023-12-31 13719170 frs-core:BetweenOneFiveYears 2023-12-31 13719170 frs-core:ComputerEquipment 2023-12-31 13719170 frs-core:ComputerEquipment 2023-01-01 2023-12-31 13719170 frs-core:ComputerEquipment 2022-12-31 13719170 frs-core:FurnitureFittings 2023-12-31 13719170 frs-core:FurnitureFittings 2023-01-01 2023-12-31 13719170 frs-core:FurnitureFittings 2022-12-31 13719170 frs-core:NetGoodwill 2023-12-31 13719170 frs-core:NetGoodwill 2023-01-01 2023-12-31 13719170 frs-core:NetGoodwill 2022-12-31 13719170 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-12-31 13719170 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 13719170 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2022-12-31 13719170 frs-core:MotorVehicles 2023-12-31 13719170 frs-core:MotorVehicles 2023-01-01 2023-12-31 13719170 frs-core:MotorVehicles 2022-12-31 13719170 frs-core:PlantMachinery 2023-12-31 13719170 frs-core:PlantMachinery 2023-01-01 2023-12-31 13719170 frs-core:PlantMachinery 2022-12-31 13719170 frs-core:ShareCapital 2023-12-31 13719170 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 13719170 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 13719170 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 13719170 frs-bus:SmallEntities 2023-01-01 2023-12-31 13719170 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 13719170 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 13719170 frs-bus:Director1 2023-01-01 2023-12-31 13719170 frs-bus:Director2 2023-01-01 2023-12-31 13719170 frs-countries:EnglandWales 2023-01-01 2023-12-31 13719170 2021-11-01 13719170 2022-12-31 13719170 2021-11-02 2022-12-31 13719170 frs-core:CurrentFinancialInstruments 2022-12-31 13719170 frs-core:Non-currentFinancialInstruments 2022-12-31 13719170 frs-core:BetweenOneFiveYears 2022-12-31 13719170 frs-core:ShareCapital 2022-12-31 13719170 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 13719170
BN Lofts Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 13719170
31 December 2023 31 December 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 53,787 5,250
Tangible Assets 5 70,616 48,099
124,403 53,349
CURRENT ASSETS
Stocks 6 8,290 20,000
Debtors 7 123,540 82,757
Cash at bank and in hand 35,373 55,274
167,203 158,031
Creditors: Amounts Falling Due Within One Year 8 (146,675 ) (100,434 )
NET CURRENT ASSETS (LIABILITIES) 20,528 57,597
TOTAL ASSETS LESS CURRENT LIABILITIES 144,931 110,946
Creditors: Amounts Falling Due After More Than One Year 9 (36,617 ) (22,841 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 11 (31,101 ) (10,136 )
NET ASSETS 77,213 77,969
CAPITAL AND RESERVES
Called up share capital 12 100 100
Profit and Loss Account 77,113 77,869
SHAREHOLDERS' FUNDS 77,213 77,969
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For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Joshua Alan Christopher Brierley
Director
Mr Joshua Paul Norgate
Director
25/09/2024
The notes on pages 3 to 7 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
BN Lofts Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13719170 . The registered office is Jubilee House, East Beach, Lytham St.annes, FY8 5FT.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

2.4. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of five years.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 20%
Plant & Machinery 25%
Motor Vehicles 25%
Fixtures & Fittings 25%
Computer Equipment 33%
2.6. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.7. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.8. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
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 assets reflect 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.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.9. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 15 (2022: 10)
15 10
4. Intangible Assets
Goodwill
£
Cost
As at 1 January 2023 5,600
Additions 66,583
As at 31 December 2023 72,183
Amortisation
As at 1 January 2023 350
Provided during the period 18,046
As at 31 December 2023 18,396
Net Book Value
As at 31 December 2023 53,787
As at 1 January 2023 5,250
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5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 January 2023 5,484 2,850 43,166 3,573
Additions - 4,113 33,035 71
As at 31 December 2023 5,484 6,963 76,201 3,644
Depreciation
As at 1 January 2023 698 543 5,209 826
Provided during the period 1,097 1,203 11,933 910
As at 31 December 2023 1,795 1,746 17,142 1,736
Net Book Value
As at 31 December 2023 3,689 5,217 59,059 1,908
As at 1 January 2023 4,786 2,307 37,957 2,747
Computer Equipment Total
£ £
Cost
As at 1 January 2023 378 55,451
Additions 614 37,833
As at 31 December 2023 992 93,284
Depreciation
As at 1 January 2023 76 7,352
Provided during the period 173 15,316
As at 31 December 2023 249 22,668
Net Book Value
As at 31 December 2023 743 70,616
As at 1 January 2023 302 48,099
6. Stocks
31 December 2023 31 December 2022
£ £
Materials 8,290 20,000
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7. Debtors
31 December 2023 31 December 2022
£ £
Due within one year
Trade debtors 14,465 6,380
Prepayments and accrued income 4,489 2,374
Other debtors 36,100 12,100
Amounts owed by group undertakings 68,486 61,903
123,540 82,757
8. Creditors: Amounts Falling Due Within One Year
31 December 2023 31 December 2022
£ £
Trade creditors 42,629 20,186
Other taxes and social security 101,829 80,148
Other creditors 2,217 100
146,675 100,434
9. Creditors: Amounts Falling Due After More Than One Year
31 December 2023 31 December 2022
£ £
Net obligations under finance lease and hire purchase contracts 36,617 22,841
10. Obligations Under Finance Leases and Hire Purchase
31 December 2023 31 December 2022
£ £
The future minimum finance lease payments are as follows:
Later than one year and not later than five years 36,617 22,841
11. Deferred Taxation
The provision for deferred tax is made up as follows:
31 December 2023 31 December 2022
£ £
Other timing differences 31,101 10,136
12. Share Capital
31 December 2023 31 December 2022
£ £
Allotted, Called up and fully paid 100 100
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13. Dividends
31 December 2023 31 December 2022
£ £
On equity shares:
Final dividend paid 163,083 130,333
During the year, total dividends of £163,083.28 were paid to the controlling parties.
14. Related Party Transactions
During the year, £68,485.85 was owed from controlling parties.
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