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Company No: 08306419 (England and Wales)

BSOFT PROJECTS LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

BSOFT PROJECTS LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

BSOFT PROJECTS LIMITED

COMPANY INFORMATION

For the financial year ended 31 December 2023
BSOFT PROJECTS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2023
DIRECTOR Benjamin Turner
SECRETARY Sandra Turner
REGISTERED OFFICE 1 Poultry C/O Praxis
London
EC2R 8EJ
England
United Kingdom
COMPANY NUMBER 08306419 (England and Wales)
ACCOUNTANT Praxis
1 Poultry
London
EC2R 8EJ
United Kingdom
BSOFT PROJECTS LIMITED

BALANCE SHEET

As at 31 December 2023
BSOFT PROJECTS LIMITED

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 2,260 4,906
2,260 4,906
Current assets
Debtors 4 3,344 104,067
Cash at bank and in hand 5 41,488 56,292
44,832 160,359
Creditors: amounts falling due within one year 6 ( 40,831) ( 159,657)
Net current assets 4,001 702
Total assets less current liabilities 6,261 5,608
Net assets 6,261 5,608
Capital and reserves
Called-up share capital 7 101 101
Profit and loss account 6,160 5,507
Total shareholder's funds 6,261 5,608

For the financial 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.

Director's responsibilities:

The financial statements of BSOFT Projects Limited (registered number: 08306419) were approved and authorised for issue by the Director on 09 October 2024. They were signed on its behalf by:

Benjamin Turner
Director
BSOFT PROJECTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
BSOFT PROJECTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

BSOFT Projects Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 1 Poultry C/O Praxis, London, EC2R 8EJ, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

In 2021 the director made the decision that the Company would cease trading. As a result the financial statements have been prepared on a basis other than the going concern basis of preparation. The director has included in the financial statements any provision for future costs of terminating the business, which were committed to at the balance sheet date and where appropriate the Company's assets have been written down to their realisable value.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must be met before revenue is recognised:

Short term contracts - Revenue is recognised when the event takes place.

Long term contracts - Revenue from a contract to provide event services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably;
- it is probable that the company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 3 - 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

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.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 0 0

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 January 2023 298,544 298,544
Additions 367 367
At 31 December 2023 298,911 298,911
Accumulated depreciation
At 01 January 2023 293,638 293,638
Charge for the financial year 2,647 2,647
Disposals 366 366
At 31 December 2023 296,651 296,651
Net book value
At 31 December 2023 2,260 2,260
At 31 December 2022 4,906 4,906

4. Debtors

2023 2022
£ £
Amounts owed by Parent undertakings 3,344 69,429
Corporation tax 0 33,845
Other debtors 0 793
3,344 104,067

5. Cash and cash equivalents

2023 2022
£ £
Cash at bank and in hand 41,488 56,292

6. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 5,820 102,125
Taxation and social security 32,261 0
Other creditors 2,750 57,532
40,831 159,657

There are no amounts included above in respect of which any security has been given by the small entity.

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
9,480 A ordinary shares of £ 0.01 each 94.80 94.80
600 B ordinary shares of £ 0.01 each 6.00 6.00
20 D ordinary shares of £ 0.01 each 0.20 0.20
101.00 101.00

8. Financial commitments

The Company had no material capital commitments at the year ended 31 December 2023.

9. Events after the Balance Sheet date

There have been no events after the balance sheet date affecting the Company since the financial year.

10. Ultimate controlling party

Parent Company:

BSOFT Holdings Limited
1 Poultry C/O Praxis, London, England, EC2R 8EJ