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Registered number: 03956929
B2B.Store Ltd
Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 03956929
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 541,385 661,536
Tangible Assets 5 5,983 7,649
547,368 669,185
CURRENT ASSETS
Debtors 6 449,939 447,035
Cash at bank and in hand (24,591 ) (64,257 )
425,348 382,778
Creditors: Amounts Falling Due Within One Year 7 (691,750 ) (555,349 )
NET CURRENT ASSETS (LIABILITIES) (266,402 ) (172,571 )
TOTAL ASSETS LESS CURRENT LIABILITIES 280,966 496,614
Creditors: Amounts Falling Due After More Than One Year 8 (847,905 ) (900,012 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,137 ) (1,453 )
NET LIABILITIES (568,076 ) (404,851 )
CAPITAL AND RESERVES
Called up share capital 9 4 4
Share premium account 1,276,331 1,276,331
Profit and Loss Account (1,844,411 ) (1,681,186 )
SHAREHOLDERS' FUNDS (568,076) (404,851)
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For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Robert Mannion
Director
30/09/2024
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
B2B.Store Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 03956929 . The registered office is Offices 13 B & C Warwick Innovation Centre, Warwick Technology Park,Gallows Hill, Warwick, Warwickshire, CV34 6UW.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
These Financial Statements are prepared on a going-concern basis. The directors have reasonable expectations that the company will continue in operational existence for the foreseeable future.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from a contract to provide 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.
2.4. Research and Development
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a Straight Line basis over their useful economic lives which range from 3 to 5 years
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 20% Straight Line
Computer Equipment 33% Straight Line
2.6. Leasing and Hire Purchase Contracts
Rentals paid under operating leases are chargd to the Profit and Loss Account on a Straight Line basis over the lease term.
2.7. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.8. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.9. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2023: 7)
7 7
4. Intangible Assets
Other Development Costs Total
£ £ £
Cost
As at 1 April 2023 - 1,432,629 1,432,629
Additions 76,494 155,652 232,146
Disposals - (798,036) (798,036 )
As at 31 March 2024 76,494 790,245 866,739
Amortisation
As at 1 April 2023 - 771,093 771,093
Provided during the period - 352,297 352,297
Disposals - (798,036 ) (798,036 )
As at 31 March 2024 - 325,354 325,354
Net Book Value
As at 31 March 2024 76,494 464,891 541,385
As at 1 April 2023 - 661,536 661,536
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5. Tangible Assets
Land & Property
Leasehold Computer Equipment Total
£ £ £
Cost
As at 1 April 2023 4,265 25,011 29,276
Additions - 3,451 3,451
Disposals - (7,621 ) (7,621 )
As at 31 March 2024 4,265 20,841 25,106
Depreciation
As at 1 April 2023 3,412 18,215 21,627
Provided during the period 853 2,742 3,595
Disposals - (6,099 ) (6,099 )
As at 31 March 2024 4,265 14,858 19,123
Net Book Value
As at 31 March 2024 - 5,983 5,983
As at 1 April 2023 853 6,796 7,649
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 141,167 58,682
Prepayments and accrued income 22,891 14,465
Other debtors 75,146 71,061
Corporation tax recoverable assets 29,297 137,891
Directors' loan accounts 181,438 164,936
449,939 447,035
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 90,359 88,217
Bank loans and overdrafts 5,738 133,740
Other loans 183,574 87,885
Other taxes and social security 84,086 81,421
Other creditors 51,700 18,850
Accruals 92,137 68,145
Deferred income 184,156 77,091
691,750 555,349
Deferred income relates to services invoiced in advance of delivery.
"Other loans" relate to the value of Innovate UK Loan and accrued interest awarded to develop the b2b.store product in 2020 which has become due to be repaid within the next 12 months. 
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8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 58,292 56,450
Other loans 789,613 843,562
847,905 900,012
The non-current amount relates to the value of Innovate UK loan and accrued interest.
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 4 4
10. Other Commitments
At the reporting end date, the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases. 
2024 2023
£ £
Not later than one year 2,250 26,302
2,250 26,302
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 April 2023 Amounts advanced Amounts repaid Amounts written off As at 31 March 2024
£ £ £ £ £
Mr Michael Mannion 49,090 10,255 - - 59,345
Mr Robert Mannion 115,847 17,062 10,815 - 122,094
The above loans are unsecured, interest free and repayable on demand.
12. Controlling Party
The company's controlling parties are the directors by virtue of their ownership of the issued share capital in the company.
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