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REGISTERED NUMBER: 03026598 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024

FOR

B.V.S LIMITED
TRADING AS
TUNIT

B.V.S LIMITED (REGISTERED NUMBER: 03026598)
TRADING AS TUNIT

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 January 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

B.V.S LIMITED
TRADING AS TUNIT

COMPANY INFORMATION
for the Year Ended 31 January 2024







DIRECTOR: M J Bromley





REGISTERED OFFICE: 7 Clarence Street
Chorley
Lancashire
PR7 2BJ





REGISTERED NUMBER: 03026598 (England and Wales)





ACCOUNTANTS: Studholme-Bell Limited
Chartered Accountants
& Business Advisors
Vantage House
Euxton Lane
Euxton
Chorley
Lancashire
PR7 6TB

B.V.S LIMITED (REGISTERED NUMBER: 03026598)
TRADING AS TUNIT

BALANCE SHEET
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 161,647 204,011
Tangible assets 6 5,838 10,848
167,485 214,859

CURRENT ASSETS
Stocks 289,000 295,450
Debtors 7 138,946 145,016
Cash at bank 2,444 4,154
430,390 444,620
CREDITORS
Amounts falling due within one year 8 78,768 86,078
NET CURRENT ASSETS 351,622 358,542
TOTAL ASSETS LESS CURRENT
LIABILITIES

519,107

573,401

CREDITORS
Amounts falling due after more than one
year

9

332,924

336,824
NET ASSETS 186,183 236,577

CAPITAL AND RESERVES
Called up share capital 950 950
Capital redemption reserve 50 50
Retained earnings 185,183 235,577
SHAREHOLDERS' FUNDS 186,183 236,577

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

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

B.V.S LIMITED (REGISTERED NUMBER: 03026598)
TRADING AS TUNIT

BALANCE SHEET - continued
31 January 2024


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 director and authorised for issue on 21 October 2024 and were signed by:





M J Bromley - Director


B.V.S LIMITED (REGISTERED NUMBER: 03026598)
TRADING AS TUNIT

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 January 2024


1. STATUTORY INFORMATION

B.V.S 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.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with FRS102 Section 1A for small entities. There were no material departures from that standard.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The principle accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year and have also been consistently applied within the same accounts.

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.

Income recognition
Income is recognised when goods have been delivered to customers such that the risks and rewards of ownership have transferred to them.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twenty years.

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 ten years.

Development costs are being amortised evenly over their estimated useful life of fifteen years.

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 - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

Stocks
Stocks have been valued at the lower of cost and estimated selling price, less costs to sell. In respect of work in progress and finished goods, cost included a relevant proportion of overheads according to the stage of manufacture / completion.

Deferred taxation
Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes.

Tax deferred or accelerated is accounted for in respect of all material timing differences.

B.V.S LIMITED (REGISTERED NUMBER: 03026598)
TRADING AS TUNIT

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 January 2024


3. ACCOUNTING POLICIES - continued

Research and development
Expenditure on research is written off in the year in which it is incurred. Development expenditure is capitalised and amortised over its useful life.

Hire purchase and leasing
Property, plant and equipment acquired under finance leases or hire purchase contracts are capitalised and depreciated in the same manner as other intangible assets. The related obligations, net of future finance charges, are included in creditors.

Rentals payable under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.

Retirement benefits
Short term employee benefits, including holiday pay, are recognised as an expense in the income statement in the period in which they are incurred.

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the income statement when due.

Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank loans and directors' loans.

Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

Directors' loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at 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 statement of income and retained earnings.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 7 ) .

B.V.S LIMITED (REGISTERED NUMBER: 03026598)
TRADING AS TUNIT

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 January 2024


5. INTANGIBLE FIXED ASSETS
Patents
and Development
Goodwill licences costs Totals
£    £    £    £   
COST
At 1 February 2023
and 31 January 2024 30,000 168,000 255,639 453,639
AMORTISATION
At 1 February 2023 30,000 100,800 118,828 249,628
Amortisation for year - 16,800 25,564 42,364
At 31 January 2024 30,000 117,600 144,392 291,992
NET BOOK VALUE
At 31 January 2024 - 50,400 111,247 161,647
At 31 January 2023 - 67,200 136,811 204,011

6. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 February 2023
and 31 January 2024 37,030 2,435 26,445 62,879 128,789
DEPRECIATION
At 1 February 2023 35,498 1,615 22,609 58,219 117,941
Charge for year 307 164 767 3,772 5,010
At 31 January 2024 35,805 1,779 23,376 61,991 122,951
NET BOOK VALUE
At 31 January 2024 1,225 656 3,069 888 5,838
At 31 January 2023 1,532 820 3,836 4,660 10,848

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 81,489 93,198
Other debtors 1,012 -
Deferred tax asset 54,496 51,818
Prepayments 1,949 -
138,946 145,016

B.V.S LIMITED (REGISTERED NUMBER: 03026598)
TRADING AS TUNIT

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 January 2024


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 10,278 15,278
Trade creditors 21,844 35,371
Tax 21,141 -
Social security and other taxes 4,681 11,043
VAT 11,097 21,854
Other creditors 7,277 582
Accruals and deferred income 2,450 1,950
78,768 86,078

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Bank loans - 1-2 years 5,275 15,278
Bank loans - 2-5 years 15,000 24,442
Bank loans more 5 yr by instal 13,584 -
Directors Loan Account 299,065 297,104
332,924 336,824

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 13,584 -

10. SECURED DEBTS

The following secured debts are included within creditors:

31.1.24 31.1.23
£    £   
Bank loans 44,137 54,998

Included in bank loans is a balance of £5,553 (2023: £10,832) owed to loan to Lancashire County Developments (Property) Limited. This loan is secured by a fixed and floating charge over the property of the company.

All other bank loans are unsecured.

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
B.V.S LIMITED


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of B.V.S Limited for the year ended 31 January 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of B.V.S Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of B.V.S Limited and state those matters that we have agreed to state to the director of B.V.S Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than B.V.S Limited and its director for our work or for this report.

It is your duty to ensure that B.V.S Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of B.V.S Limited. You consider that B.V.S Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of B.V.S Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Studholme-Bell Limited
Chartered Accountants
& Business Advisors
Vantage House
Euxton Lane
Euxton
Chorley
Lancashire
PR7 6TB


21 October 2024