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REGISTERED NUMBER: 03319379 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31st March 2024

for

Steve Backley Limited

Steve Backley Limited (Registered number: 03319379)






Contents of the Financial Statements
for the Year Ended 31st March 2024




Page

Abridged Balance Sheet 1

Notes to the Financial Statements 3


Steve Backley Limited (Registered number: 03319379)

Abridged Balance Sheet
31st March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 121 161
Tangible assets 6 740 986
Investments 7 456,551 409,883
457,412 411,030

CURRENT ASSETS
Debtors 3,275 3,215
Cash at bank - 30,531
3,275 33,746
CREDITORS
Amounts falling due within one year 116,604 117,167
NET CURRENT LIABILITIES (113,329 ) (83,421 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

344,083

327,609

CREDITORS
Amounts falling due after more than one
year

7,072

13,043
NET ASSETS 337,011 314,566

CAPITAL AND RESERVES
Called up share capital 87 87
Retained earnings 336,924 314,479
SHAREHOLDERS' FUNDS 337,011 314,566

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 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.

Steve Backley Limited (Registered number: 03319379)

Abridged Balance Sheet - continued
31st March 2024


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31st March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 10th October 2024 and were signed by:





Mr S J Backley - Director


Steve Backley Limited (Registered number: 03319379)

Notes to the Financial Statements
for the Year Ended 31st March 2024

1. STATUTORY INFORMATION

Steve Backley Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 03319379

Registered office: Kings Lodge
London Road
West Kingsdown
Sevenoaks
Kent
TN15 6AR

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


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Revenue recognition
Sales comprise the fair value of the consideration received or receivable for the rendering of services in the ordinary course of the company's activities. Sales are presented, net of value-added tax, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and when specific criteria have been met for each of the company's activities as follows:

Revenue from the sale of services is recognised at the point at which those services have been provided to the customer. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Profit share received from companies in which the company is a corporate partner is recognised in the year in which the company is entitled to receive a share of profits.

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.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Patents and licences
Patents and licences are being amortised on a 25% reducing balance over the estimated useful life.

Steve Backley Limited (Registered number: 03319379)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

3. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors and loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, such as the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

Steve Backley Limited (Registered number: 03319379)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

5. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st April 2023
and 31st March 2024 1,929
AMORTISATION
At 1st April 2023 1,768
Amortisation for year 40
At 31st March 2024 1,808
NET BOOK VALUE

At 31st March 2024 121
At 31st March 2023 161

6. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st April 2023
and 31st March 2024 19,457
DEPRECIATION
At 1st April 2023 18,471
Charge for year 246
At 31st March 2024 18,717
NET BOOK VALUE
At 31st March 2024 740
At 31st March 2023 986

7. FIXED ASSET INVESTMENTS

The amount included as a fixed asset investment represents the company's capital account outstanding as at the balance sheet date in Chislehurst Equity LLP.