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REGISTERED NUMBER: 08285430 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

BUSINESS 101 LIMITED

BUSINESS 101 LIMITED (REGISTERED NUMBER: 08285430)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


BUSINESS 101 LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTOR: N A Borrill





REGISTERED OFFICE: Unit 3a
Sutton Fields Industrial Estate
Bergen Way
Hull
E. Yorks
HU7 0YQ





REGISTERED NUMBER: 08285430 (England and Wales)





ACCOUNTANTS: Majors Limited
F15 The Bloc
38 Springfield Way
Anlaby
Hull
E. Yorks
HU10 6RJ

BUSINESS 101 LIMITED (REGISTERED NUMBER: 08285430)

BALANCE SHEET
30 NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 11,358 17,963

CURRENT ASSETS
Debtors 5 67,943 55,333
Cash at bank 14,177 8,743
82,120 64,076
CREDITORS
Amounts falling due within one year 6 28,029 22,845
NET CURRENT ASSETS 54,091 41,231
TOTAL ASSETS LESS CURRENT
LIABILITIES

65,449

59,194

CREDITORS
Amounts falling due after more than
one year

7

(33,135

)

(38,785

)

PROVISIONS FOR LIABILITIES (2,158 ) (3,413 )
NET ASSETS 30,156 16,996

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 29,956 16,796
SHAREHOLDERS' FUNDS 30,156 16,996

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 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.

BUSINESS 101 LIMITED (REGISTERED NUMBER: 08285430)

BALANCE SHEET - continued
30 NOVEMBER 2023


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 11 October 2024 and were signed by:





N A Borrill - Director


BUSINESS 101 LIMITED (REGISTERED NUMBER: 08285430)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1. STATUTORY INFORMATION

Business 101 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. 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 represents invoiced sales of goods in the financial year.

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 etc - 25% on 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 101 LIMITED (REGISTERED NUMBER: 08285430)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machiner
etc
£   
COST
At 1 December 2022 39,668
Additions 642
At 30 November 2023 40,310
DEPRECIATION
At 1 December 2022 21,705
Charge for year 7,247
At 30 November 2023 28,952
NET BOOK VALUE
At 30 November 2023 11,358
At 30 November 2022 17,963

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 26,836 23,865
Other debtors 30,300 21,115
Directors' current accounts 9,472 10,353
Prepayments and accrued income 1,335 -
67,943 55,333

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 5,650 5,507
Trade creditors 3,152 3,868
Tax 5,576 1,249
Social security and other taxes 814 794
VAT 10,747 3,371
Other creditors 710 5,818
Accruals and deferred income 1,380 2,238
28,029 22,845

BUSINESS 101 LIMITED (REGISTERED NUMBER: 08285430)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans 1-5 years 33,135 38,785

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 November 2023 and 30 November 2022:

2023 2022
£    £   
N A Borrill
Balance outstanding at start of year 1,453 9,291
Amounts advanced 32,218 26,649
Amounts repaid (24,199 ) (34,487 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 9,472 1,453