Company registration number 12369730 (England and Wales)
BALANCE APP LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 JUNE 2023
PAGES FOR FILING WITH REGISTRAR
BALANCE APP LIMITED
COMPANY INFORMATION
Directors
Dr L R Anderson
Dr R J Lewis
Company number
12369730
Registered office
Winton House
Church Street
Stratford-Upon-Avon
Warwickshire
CV37 6HB
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
Barclays Bank Plc
Leicester
Leicestershire
LE87 2BB
BALANCE APP LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 7
BALANCE APP LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF BALANCE APP LIMITED FOR THE PERIOD ENDED 28 JUNE 2023
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Balance App Limited for the period ended 28 June 2023 which comprise, the balance sheet 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 at https://www.icaew.com/regulation.

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

It is your duty to ensure that Balance App 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 loss of Balance App Limited. You consider that Balance App Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Balance App 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.

Ormerod Rutter Limited
10 April 2024
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
BALANCE APP LIMITED
BALANCE SHEET
AS AT 28 JUNE 2023
28 June 2023
- 2 -
28 June 2023
31 December 2021
Notes
£
£
£
£
Fixed assets
Intangible assets
3
197,977
151,671
Tangible assets
4
4,349
1,821
202,326
153,492
Current assets
Stocks
384
716
Debtors
5
265,209
57,326
Cash at bank and in hand
28,706
35,842
294,299
93,884
Creditors: amounts falling due within one year
6
(677,105)
(37,363)
Net current (liabilities)/assets
(382,806)
56,521
Net (liabilities)/assets
(180,480)
210,013
Capital and reserves
Called up share capital
7
1,163
1,163
Share premium account
468,837
468,837
Profit and loss reserves
(650,480)
(259,987)
Total equity
(180,480)
210,013

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial period ended 28 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 10 April 2024 and are signed on its behalf by:
Dr L R Anderson
Director
Company registration number 12369730 (England and Wales)
BALANCE APP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 JUNE 2023
- 3 -
1
Accounting policies
Company information

Balance App Limited is a private company limited by shares incorporated in England and Wales. The registered office is Winton House, Church Street, Stratford-Upon-Avon, Warwickshire, CV37 6HB.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

These financial statements have been drawn up on the going concern basis. If the going concern basis were not appropriate, adjustments would have been made to reduce assets to recoverable amounts, to provide for any further liabilities that might arise, and to re-classify fixed assets as current assets and long term liabilities as current liabilities.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from the provision of services is recognised by reference to the stage of completion, when the costs incurred and costs to complete can be estimated reliably.

1.4
Research and development expenditure

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

1.5
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Development costs
10 years
BALANCE APP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 28 JUNE 2023
1
Accounting policies
(Continued)
- 4 -
1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computer equipment
33% on cost
1.7
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.9
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

BALANCE APP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 28 JUNE 2023
- 5 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2023
2021
Number
Number
Total
6
6
3
Intangible fixed assets
Development costs
£
Cost
At 1 January 2022
185,065
Additions
78,315
At 28 June 2023
263,380
Amortisation and impairment
At 1 January 2022
33,394
Amortisation charged for the period
32,009
At 28 June 2023
65,403
Carrying amount
At 28 June 2023
197,977
At 31 December 2021
151,671
BALANCE APP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 28 JUNE 2023
- 6 -
4
Tangible fixed assets
Computer equipment
£
Cost
At 1 January 2022
2,086
Additions
4,578
At 28 June 2023
6,664
Depreciation and impairment
At 1 January 2022
265
Depreciation charged in the period
2,050
At 28 June 2023
2,315
Carrying amount
At 28 June 2023
4,349
At 31 December 2021
1,821
5
Debtors
2023
2021
Amounts falling due within one year:
£
£
Trade debtors
115,854
4,810
Other debtors
14,606
11,301
130,460
16,111
Deferred tax asset
134,749
41,215
265,209
57,326
6
Creditors: amounts falling due within one year
2023
2021
£
£
Trade creditors
37,831
27,500
Taxation and social security
3,191
4,286
Other creditors
636,083
5,577
677,105
37,363
BALANCE APP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 28 JUNE 2023
- 7 -
7
Called up share capital
2023
2021
2023
2021
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A of £1 each
616
616
616
616
Ordinary B of £1 each
415
415
415
415
Ordinary C of £1 each
132
132
132
132
1,163
1,163
1,163
1,163

 

8
Ultimate controlling party

The ultimate controlling party is Dr L R Anderson.

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