2 18 October 2024 false false false false false false false false false false true false false false false false false No description of principal activity 2022-12-26 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 05369150 2022-12-26 2023-12-31 05369150 2023-12-31 05369150 2022-12-25 05369150 2021-12-27 2022-12-25 05369150 2022-12-25 05369150 2021-12-26 05369150 bus:OrdinaryShareClass1 2022-12-26 2023-12-31 05369150 bus:Director1 2022-12-26 2023-12-31 05369150 core:WithinOneYear 2023-12-31 05369150 core:WithinOneYear 2022-12-25 05369150 core:ShareCapital 2023-12-31 05369150 core:ShareCapital 2022-12-25 05369150 core:RetainedEarningsAccumulatedLosses 2023-12-31 05369150 core:RetainedEarningsAccumulatedLosses 2022-12-25 05369150 bus:SmallEntities 2022-12-26 2023-12-31 05369150 bus:Audited 2022-12-26 2023-12-31 05369150 bus:SmallCompaniesRegimeForAccounts 2022-12-26 2023-12-31 05369150 bus:PrivateLimitedCompanyLtd 2022-12-26 2023-12-31 05369150 bus:FullAccounts 2022-12-26 2023-12-31 05369150 bus:OrdinaryShareClass1 2023-12-31 05369150 bus:OrdinaryShareClass1 2022-12-25
COMPANY REGISTRATION NUMBER: 05369150
BGK VENTURES LIMITED
FILLETED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
31 December 2023
BGK VENTURES LIMITED
STATEMENT OF FINANCIAL POSITION
31 December 2023
31 Dec 23
25 Dec 22
Note
£
£
£
£
Current assets
Debtors
5
133
773
Cash at bank and in hand
2,996
2,092
------
------
3,129
2,865
Creditors: amounts falling due within one year
6
( 2,596)
( 2,304)
------
------
Net current assets
533
561
----
----
Total assets less current liabilities
533
561
----
----
Capital and reserves
Called up share capital
7
100
100
Profit and loss account
433
461
----
----
Total shareholders' funds
533
561
----
----
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 comprehensive income has not been delivered.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements were approved by the board of directors and authorised for issue on 18 October 2024 , and are signed on behalf of the board by:
M S Grewal
Director
Company registration number: 05369150
BGK VENTURES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
PERIOD FROM 26 DECEMBER 2022 TO 31 DECEMBER 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 12 North Bar, Banbury, OX16 0TB.
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. Monetary amounts in these financial statements are rounded to the nearest pound. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
Going concern
These financial statements have been prepared on a going concern basis which the director considers to be appropriate for the company. After reviewing the company's forecasts and projections, the director is satisfied that the company has sufficient resources to continue in operational existence and will be able to meet its debts as they fall due for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.
Turnover
The turnover shown in the profit and loss account represents amounts for services provided during the year, exclusive of Value Added Tax. Turnover is recognised when the services are provided to the customer, at which point the risk and reward of ownership has been transferred to the customer.
Income tax
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.
Financial instruments
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost using the effective interest method. At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss. Basic financial liabilities, which include trade and other payables 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 receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year of less. If not, then they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. Employee benefits Short term benefits, including holiday pay and other similar non-monetary benefits, are recognised as an expense in the period in which the service is received
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
Distributions to equity holders
Dividends and other distributions to the company's shareholders are recognised as a liability in the financial statements in the period in which the dividends and other distributions are approved by the shareholders. These amounts are recognised in the statement of changes in equity.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 2 (2022: 2 ).
5. Debtors
31 Dec 23
25 Dec 22
£
£
Trade debtors
111
755
Other debtors
22
18
----
----
133
773
----
----
6. Creditors: amounts falling due within one year
31 Dec 23
25 Dec 22
£
£
Corporation tax
33
30
Social security and other taxes
2,384
2,106
Other creditors
179
168
------
------
2,596
2,304
------
------
7. Called up share capital
Issued, called up and fully paid
31 Dec 23
25 Dec 22
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
----
----
----
----
8. Summary audit opinion
The auditor's report dated 18 October 2024 was unqualified .
The senior statutory auditor was W J E Kerr , for and on behalf of Xeinadin Audit Limited .
9. Controlling party
The immediate parent company is MSG Sandhurst Ltd, a company incorporated in England and Wales. The ultimate parent company and the smallest and largest group to prepare consolidated financial statements which include BGK Ventures Ltd is Bansols Beta Ltd, a company incorporated in England and Wales. The consolidated financial statements of Bansols Beta Ltd can be obtained from Companies House, Crown Way, Cardiff CF14 3UZ. The ultimate controlling party is the director M S Grewal .