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REGISTERED NUMBER: 07948641 (England and Wales)















Business Equip Limited

Unaudited Financial Statements for the Year Ended 29 February 2024






Business Equip Limited (Registered number: 07948641)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Business Equip Limited

Company Information
for the Year Ended 29 February 2024







Directors: J P Drew
Mrs H J Drew





Registered office: Bradford House
Yarmouth Road
Stalham
Norfolk
NR12 9PD





Registered number: 07948641 (England and Wales)





Accountants: Fairhead Bradford
5 Queen Street
Great Yarmouth
Norfolk
NR30 2QP

Business Equip Limited (Registered number: 07948641)

Statement of Financial Position
29 February 2024

29/2/24 28/2/23
Notes £    £    £    £   
Fixed assets
Tangible assets 4 923 626

Current assets
Debtors 5 13,995 10,807
Cash at bank 1,888 4,516
15,883 15,323
Creditors
Amounts falling due within one year 6 12,308 7,986
Net current assets 3,575 7,337
Total assets less current liabilities 4,498 7,963

Capital and reserves
Called up share capital 100 100
Retained earnings 4,398 7,863
4,498 7,963

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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

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

The financial statements were approved by the Board of Directors and authorised for issue on 23 May 2024 and were signed on its behalf by:





J P Drew - Director


Business Equip Limited (Registered number: 07948641)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. Statutory information

Business Equip Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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


2. Accounting policies

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

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Computer equipment - 33% on cost

Financial instruments
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Business Equip Limited (Registered number: 07948641)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

3. Employees and directors

The average number of employees during the year was 2 (2023 - 2 ) .

4. Tangible fixed assets
Plant and Computer
machinery equipment Totals
£    £    £   
Cost
At 1 March 2023 270 4,917 5,187
Additions - 844 844
At 29 February 2024 270 5,761 6,031
Depreciation
At 1 March 2023 257 4,304 4,561
Charge for year 5 542 547
At 29 February 2024 262 4,846 5,108
Net book value
At 29 February 2024 8 915 923
At 28 February 2023 13 613 626

5. Debtors: amounts falling due within one year
29/2/24 28/2/23
£    £   
Trade debtors 9,255 6,067
Other debtors 4,740 4,740
13,995 10,807

6. Creditors: amounts falling due within one year
29/2/24 28/2/23
£    £   
Trade creditors 1,210 561
Taxation and social security 7,883 6,498
Other creditors 3,215 927
12,308 7,986