61 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 3,723,999 1,898,000 1,295,000 3,193,000 530,999 1,825,999 xbrli:pure xbrli:shares iso4217:GBP 07202211 2023-04-01 2024-03-31 07202211 2024-03-31 07202211 2023-03-31 07202211 2022-04-01 2023-03-31 07202211 2023-03-31 07202211 2022-03-31 07202211 core:FurnitureFittings 2023-04-01 2024-03-31 07202211 core:MotorVehicles 2023-04-01 2024-03-31 07202211 bus:Director1 2023-04-01 2024-03-31 07202211 bus:Director3 2023-04-01 2024-03-31 07202211 bus:Director4 2023-04-01 2024-03-31 07202211 bus:Director5 2023-04-01 2024-03-31 07202211 bus:Director6 2023-04-01 2024-03-31 07202211 core:NetGoodwill 2023-03-31 07202211 core:NetGoodwill 2024-03-31 07202211 core:FurnitureFittings 2023-03-31 07202211 core:FurnitureFittings 2024-03-31 07202211 core:MotorVehicles 2024-03-31 07202211 core:WithinOneYear 2024-03-31 07202211 core:WithinOneYear 2023-03-31 07202211 core:AfterOneYear 2024-03-31 07202211 core:AfterOneYear 2023-03-31 07202211 core:ShareCapital 2024-03-31 07202211 core:ShareCapital 2023-03-31 07202211 core:CapitalRedemptionReserve 2024-03-31 07202211 core:CapitalRedemptionReserve 2023-03-31 07202211 core:RetainedEarningsAccumulatedLosses 2024-03-31 07202211 core:RetainedEarningsAccumulatedLosses 2023-03-31 07202211 core:NetGoodwill 2023-04-01 2024-03-31 07202211 core:NetGoodwill 2023-03-31 07202211 core:FurnitureFittings 2023-03-31 07202211 bus:SmallEntities 2023-04-01 2024-03-31 07202211 bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 07202211 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 07202211 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07202211 bus:FullAccounts 2023-04-01 2024-03-31 07202211 core:OfficeEquipment 2023-04-01 2024-03-31 07202211 core:OfficeEquipment 2023-03-31 07202211 core:OfficeEquipment 2024-03-31
COMPANY REGISTRATION NUMBER: 07202211
BBS LAW LTD
Filleted Unaudited Financial Statements
31 March 2024
BBS LAW LTD
Financial Statements
Year ended 31st March 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
BBS LAW LTD
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
Fixed assets
Intangible assets
5
530,999
1,825,999
Tangible assets
6
95,860
65,209
---------
------------
626,859
1,891,208
Current assets
Work in progress
1,296,560
1,004,850
Debtors
7
2,291,021
1,828,478
Cash at bank and in hand
791,300
1,888,384
------------
------------
4,378,881
4,721,712
Creditors: amounts falling due within one year
8
1,812,843
1,902,691
------------
------------
Net current assets
2,566,038
2,819,021
------------
------------
Total assets less current liabilities
3,192,897
4,710,229
Creditors: amounts falling due after more than one year
9
813,999
1,319,332
Provisions
Taxation including deferred tax
13,147
15,052
------------
------------
Net assets
2,365,751
3,375,845
------------
------------
Capital and reserves
Called up share capital
2,326
2,326
Capital redemption reserve
25
25
Profit and loss account
2,363,400
3,373,494
------------
------------
Shareholders funds
2,365,751
3,375,845
------------
------------
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 income and retained earnings has not been delivered.
For the year ending 31st March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
BBS LAW LTD
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 6 September 2024 , and are signed on behalf of the board by:
Mr D B Black
Mr D A Berger
Director
Director
Mr P S Stedman
Mr A Barr
Director
Director
Mr R M Denton
Director
Company registration number: 07202211
BBS LAW LTD
Notes to the Financial Statements
Year ended 31st March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is First Floor, The Edge, Clowes Street, Salford, M3 5NA, England.
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. The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows: Goodwill - Amortisation is calculated on a straight line basis over 2 years. Depreciation of tangible fixed assets - Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
Amortised straight line over 2 years
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and Fittings
-
25% reducing balance
Motor Vehicles
-
25% reducing balance
Equipment
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and loans to and from related parties.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 61 (2023: 47 ).
5. Intangible assets
Goodwill
£
Cost
At 1st April 2023 and 31st March 2024
3,723,999
------------
Amortisation
At 1st April 2023
1,898,000
Charge for the year
1,295,000
------------
At 31st March 2024
3,193,000
------------
Carrying amount
At 31st March 2024
530,999
------------
At 31st March 2023
1,825,999
------------
6. Tangible assets
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1st April 2023
222,951
91,093
314,044
Additions
47,771
47,771
---------
--------
--------
---------
At 31st March 2024
222,951
47,771
91,093
361,815
---------
--------
--------
---------
Depreciation
At 1st April 2023
186,418
62,417
248,835
Charge for the year
9,133
818
7,169
17,120
---------
--------
--------
---------
At 31st March 2024
195,551
818
69,586
265,955
---------
--------
--------
---------
Carrying amount
At 31st March 2024
27,400
46,953
21,507
95,860
---------
--------
--------
---------
At 31st March 2023
36,533
28,676
65,209
---------
--------
--------
---------
7. Debtors
2024
2023
£
£
Trade debtors
2,181,383
1,719,567
Other debtors
109,638
108,911
------------
------------
2,291,021
1,828,478
------------
------------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
111,008
36,732
Social security and other taxes
1,009,586
1,063,006
Other creditors
692,249
802,953
------------
------------
1,812,843
1,902,691
------------
------------
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
813,999
1,319,332
---------
------------
10. Related party transactions
The company was under the control of its directors throughout the current period. At the 31st March 2024 the balance due to the directors was £nil (31st March 2023: £nil).