REGISTERED NUMBER: |
BUSINESS TECHNOLOGY PARTNERS LIMITED |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024 |
REGISTERED NUMBER: |
BUSINESS TECHNOLOGY PARTNERS LIMITED |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024 |
BUSINESS TECHNOLOGY PARTNERS LIMITED (REGISTERED NUMBER: 04227686) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2024 |
Page |
Company Information | 1 |
Accountants' Report | 2 |
Balance Sheet | 3 |
Notes to the Financial Statements | 5 |
BUSINESS TECHNOLOGY PARTNERS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MAY 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Fryern House |
125 Winchester Road |
Chandlers Ford |
Hampshire |
SO53 2DR |
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
BUSINESS TECHNOLOGY PARTNERS LIMITED |
The following reproduces the text of the report prepared for the directors 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 Directors 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 Business Technology Partners Limited for the year ended 31 May 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity 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 Board of Directors of Business Technology Partners Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Business Technology Partners Limited and state those matters that we have agreed to state to the Board of Directors of Business Technology Partners Limited, as a body, 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 Business Technology Partners Limited and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that Business Technology Partners 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 profit of Business Technology Partners Limited. You consider that Business Technology Partners 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 Business Technology Partners 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. |
Fryern House |
125 Winchester Road |
Chandlers Ford |
Hampshire |
SO53 2DR |
BUSINESS TECHNOLOGY PARTNERS LIMITED (REGISTERED NUMBER: 04227686) |
BALANCE SHEET |
31 MAY 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 10 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Capital redemption reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
BUSINESS TECHNOLOGY PARTNERS LIMITED (REGISTERED NUMBER: 04227686) |
BALANCE SHEET - continued |
31 MAY 2024 |
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 |
BUSINESS TECHNOLOGY PARTNERS LIMITED (REGISTERED NUMBER: 04227686) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2024 |
1. | STATUTORY INFORMATION |
Business Technology Partners Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 04227686 and its registered office address is 1625-1627 Parkway, Whiteley, England, PO15 7AH. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The presentation currency is £ sterling. |
Going concern |
The financial statements have been prepared on a going concern basis |
Significant judgements and estimates |
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date, and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. |
The directors do not consider there to be any significant judgements. |
Other key sources of estimation uncertainty: |
1) Tangible fixed assets |
Management estimate the useful life and residual value of tangible assets based on market information and their knowledge of the business, the remaining life of the asset and projected disposal value. |
2) Intangible fixed assets |
Management estimate the useful life of intangible assets based on market information and their knowledge of the business. |
Turnover |
Turnover represents net amounts invoiced during the year (excluding value added tax) adjusted for accrued and deferred income where applicable. |
Turnover is recognised when the service is provided. |
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. |
Other intangible assets are being amortised evenly over their estimated life of five years. |
BUSINESS TECHNOLOGY PARTNERS LIMITED (REGISTERED NUMBER: 04227686) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2024 |
2. | ACCOUNTING POLICIES - continued |
Tangible fixed assets |
All fixed assets are initially recorded at cost and subsequently carried at cost less accumulated depreciation. |
The cost of fixed assets initially recognised includes its purchase price and any cost that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in a manner intended by management. |
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows: |
Computer equipment | - 33% on cost |
Fixtures and fittings | - 20% on cost |
Motor vehicles | - 17% on cost |
The assets' residual value and useful lives are reviewed and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively. |
Development expenses capitalised are not depreciated as constant upgrades and maintenance of the database ensures the asset remains functional and at the value stated. Maintenance costs are written off to the income statement. An impairment review will be carried out by the directors each year. |
The assets' residual values and useful lives are reviewed and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively. |
Fixed assets are derecognised on disposal or when no future economic benefits are expected. On disposal, the difference between the net disposal proceeds and the carrying amount is recognised in the statement of income and retained earnings. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Financial instruments |
The company only has financial assets and liabilities of the kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and debt instruments are subsequently measured at amortised cost. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the statement of income and retained eanrings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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 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. |
BUSINESS TECHNOLOGY PARTNERS LIMITED (REGISTERED NUMBER: 04227686) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2024 |
2. | ACCOUNTING POLICIES - continued |
Research and development |
Expenditure on research is written off against profits in the year in which it is incurred. |
Development costs are capitalised when the following criteria has been met: |
(a) It is technically feasible to complete the development so that the assets will be available for use or sale; |
(b) It is intended that the assets being developed will be used or sold; |
(c) The company is able to use or sell the assets; |
(d) It can be demonstrated that the assets will generate probable future economic benefit; |
(e) Adequate technical, financial and other resources exist so that the assets development can be completed and subsequently used or sold; |
(f) Expenditure attributable to the assets during the development can be reliably measured. |
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 the Statement of Income and Retained Earnings in the period to which they relate. |
Dividends |
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. |
Operating lease agreements |
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
At 1 June 2023 |
and 31 May 2024 |
AMORTISATION |
At 1 June 2023 |
Charge for year |
At 31 May 2024 |
NET BOOK VALUE |
At 31 May 2024 |
At 31 May 2023 |
BUSINESS TECHNOLOGY PARTNERS LIMITED (REGISTERED NUMBER: 04227686) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2024 |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
Database/ | and | Motor | Computer |
Application | fittings | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 June 2023 |
Additions |
At 31 May 2024 |
DEPRECIATION |
At 1 June 2023 |
Charge for year |
At 31 May 2024 |
NET BOOK VALUE |
At 31 May 2024 |
At 31 May 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
Prepayments and accrued income |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other loans |
Trade creditors |
Social security and other taxes |
VAT |
Other creditors |
Directors' current accounts |
Accruals and deferred income |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Other loans - 1-2 years | 39,802 | 92,216 |
Other loans - 2-5 years | - | 39,802 |
BUSINESS TECHNOLOGY PARTNERS LIMITED (REGISTERED NUMBER: 04227686) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2024 |
9. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2024 | 2023 |
£ | £ |
Within one year |
Between one and five years |
In more than five years |
10. | PROVISIONS FOR LIABILITIES |
2024 | 2023 |
£ | £ |
Deferred tax | 88,518 | 68,122 |
Deferred tax |
£ |
Balance at 1 June 2023 |
Provided during year |
Balance at 31 May 2024 |
The above deferred tax balance relates to accelerated capital allowances. |