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COMPANY REGISTRATION NUMBER: 13887059
Back Office Pro Motorsport Marketing Limited
Filleted Unaudited Financial Statements
29 February 2024
Back Office Pro Motorsport Marketing Limited
Financial Statements
Year Ended 29th February 2024
Contents
Page
Chartered Certified Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements
1
Statement of Financial Position
2
Notes to the Financial Statements
4
Back Office Pro Motorsport Marketing Limited
Chartered Certified Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of Back Office Pro Motorsport Marketing Limited
Year Ended 29th February 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Back Office Pro Motorsport Marketing Limited for the year ended 29th February 2024, which comprise the statement of financial position 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. This report is made solely to the director of Back Office Pro Motorsport Marketing Limited in accordance with the terms of our engagement letter dated 1st December 2023. Our work has been undertaken solely to prepare for your approval the financial statements of Back Office Pro Motorsport Marketing Limited and state those matters that we have agreed to state to you in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Back Office Pro Motorsport Marketing Limited and its director for our work or for this report.
It is your duty to ensure that Back Office Pro Motorsport Marketing 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 Back Office Pro Motorsport Marketing Limited. You consider that Back Office Pro Motorsport Marketing 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 Back Office Pro Motorsport Marketing 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.
MJ GREEN ACCOUNTANCY SERVICES LTD Chartered Certified Accountants
Unit 10 Silver End Business Park Brettell Lane Brierley Hill West Midlands DY5 3LG
20 November 2024
Back Office Pro Motorsport Marketing Limited
Statement of Financial Position
29 February 2024
2024
2023
Note
£
£
Fixed Assets
Tangible assets
5
8,373
10,921
Current Assets
Debtors
6
2,755
3,949
Cash at bank and in hand
361
2,213
-------
-------
3,116
6,162
Creditors: amounts falling due within one year
7
11,881
2,750
--------
-------
Net Current (Liabilities)/Assets
( 8,765)
3,412
-------
--------
Total Assets Less Current Liabilities
( 392)
14,333
----
--------
Net (Liabilities)/Assets
( 392)
14,333
----
--------
Capital and Reserves
Called up share capital
10
10
Profit and loss account
( 402)
14,323
----
--------
Shareholders (Deficit)/Funds
( 392)
14,333
----
--------
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.
For the year ending 29th February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Back Office Pro Motorsport Marketing Limited
Statement of Financial Position (continued)
29 February 2024
These financial statements were approved by the board of directors and authorised for issue on 20 November 2024 , and are signed on behalf of the board by:
M Livsey
Director
Company registration number: 13887059
Back Office Pro Motorsport Marketing Limited
Notes to the Financial Statements
Year Ended 29th February 2024
1. General Information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Office 7d Townend House, Wisemore, Walsall, WS1 1NS.
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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
15% reducing balance
Motor vehicles
-
25% reducing balance
Computer equipment
-
33% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
4. Employee Numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tangible Assets
Fixtures and fittings
Motor vehicles
Computer equipment
Total
£
£
£
£
Cost
At 1st March 2023
83
14,330
154
14,567
Additions
302
302
----
--------
----
--------
At 29th February 2024
83
14,330
456
14,869
----
--------
----
--------
Depreciation
At 1st March 2023
12
3,583
51
3,646
Charge for the year
11
2,687
152
2,850
----
--------
----
--------
At 29th February 2024
23
6,270
203
6,496
----
--------
----
--------
Carrying amount
At 29th February 2024
60
8,060
253
8,373
----
--------
----
--------
At 28th February 2023
71
10,747
103
10,921
----
--------
----
--------
6. Debtors
2024
2023
£
£
Trade debtors
540
2,580
Other debtors
2,215
1,369
-------
-------
2,755
3,949
-------
-------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
137
1,969
Social security and other taxes
281
Other creditors
11,744
500
--------
-------
11,881
2,750
--------
-------
8. Director's Advances, Credits and Guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
M Livsey
106
( 10,750)
( 10,644)
----
--------
----
--------
2023
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
M Livsey
( 8,154)
8,260
106
----
-------
-------
----
The advances to the director were made on an interest free basis and are repayable on demand.