Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-30truefalseNo description of principal activity2023-07-01false1The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2false 08113044 2023-07-01 2024-06-30 08113044 2022-07-01 2023-06-30 08113044 2024-06-30 08113044 2023-06-30 08113044 c:Director1 2023-07-01 2024-06-30 08113044 d:FurnitureFittings 2023-07-01 2024-06-30 08113044 d:FurnitureFittings 2024-06-30 08113044 d:FurnitureFittings 2023-06-30 08113044 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 08113044 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-07-01 2024-06-30 08113044 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-06-30 08113044 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-06-30 08113044 d:CurrentFinancialInstruments 2024-06-30 08113044 d:CurrentFinancialInstruments 2023-06-30 08113044 d:Non-currentFinancialInstruments 2024-06-30 08113044 d:Non-currentFinancialInstruments 2023-06-30 08113044 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 08113044 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 08113044 d:Non-currentFinancialInstruments d:AfterOneYear 2024-06-30 08113044 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 08113044 d:ShareCapital 2024-06-30 08113044 d:ShareCapital 2023-06-30 08113044 d:SharePremium 2024-06-30 08113044 d:SharePremium 2023-06-30 08113044 d:RetainedEarningsAccumulatedLosses 2024-06-30 08113044 d:RetainedEarningsAccumulatedLosses 2023-06-30 08113044 c:FRS102 2023-07-01 2024-06-30 08113044 c:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 08113044 c:FullAccounts 2023-07-01 2024-06-30 08113044 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 08113044 4 2023-07-01 2024-06-30 08113044 e:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure

Registered number: 08113044









BUNKER BUOY LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2024

 
BUNKER BUOY LIMITED
 
 
  
REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF BUNKER BUOY LIMITED
FOR THE YEAR ENDED 30 JUNE 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 Bunker Buoy Limited for the year ended 30 June 2024 which comprise  the 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 of Scotlandwe are subject to its ethical and other professional requirements which are detailed at https://icas.com/icas -framework-preparation -of-accounts.

This report is made solely to the director of Bunker Buoy Limited in accordance with the terms of our engagement letter dated 20 March 2015Our work has been undertaken solely to prepare for your approval the financial statements of Bunker Buoy Limited and state those matters that we have agreed to state to the director of Bunker Buoy Limited in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at https://icas.com/icas -framework-preparation -of-accounts. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Bunker Buoy Limited and its director for our work or for this report. 

It is your duty to ensure that Bunker Buoy 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 Bunker Buoy Limited. You consider that Bunker Buoy Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Bunker Buoy 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.

  



Milton Avis LLP
 
Chartered Accountants
  
Pitt House
120 Baker Street
London
W1U 6TU
3 December 2024
Page 1

 
BUNKER BUOY LIMITED
REGISTERED NUMBER: 08113044

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
125,000
252,976

Tangible assets
 5 
33
45

  
125,033
253,021

Current assets
  

Debtors: amounts falling due within one year
 6 
46,617
46,617

Cash at bank and in hand
 7 
55,445
3,000

  
102,062
49,617

Creditors: amounts falling due within one year
 8 
(190,022)
(121,322)

Net current liabilities
  
 
 
(87,960)
 
 
(71,705)

Total assets less current liabilities
  
37,073
181,316

Creditors: amounts falling due after more than one year
 9 
(9,265)
(20,104)

  

Net assets
  
27,808
161,212

Page 2

 
BUNKER BUOY LIMITED
REGISTERED NUMBER: 08113044
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Capital and reserves
  

Called up share capital 
  
100
100

Share premium account
  
99,990
99,990

Profit and loss account
  
(72,282)
61,122

  
27,808
161,212


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 3 December 2024.




................................................
N Miller
Director

The notes on pages 4 to 9 form part of these financial statements.

Page 3

 
BUNKER BUOY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

The company is a private company limited by shares and is incorporated in the England and Wales with its registered office at Pitt House, 120 Baker Street, London, W1U 6TU. The trading address of the company is 2 Horseshoe Lane, Totteridge, London N20 8NJ and the registered number is 08113044.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The presentation currency is pounds sterling (£).

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight line basis over their useful economic lives.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

Page 4

 
BUNKER BUOY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.6

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

 
2.7

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

The company is developing a software application for commercial use particular for its business activities which, when completed, will generate substantial revenue.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
Reducing Balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 5

 
BUNKER BUOY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

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.


3.


Employees




The average monthly number of employees, including directors, during the year was 1 (2023 - 2).

Page 6

 
BUNKER BUOY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


Intangible assets




Development

£



Cost


At 1 July 2023
252,976


Revaluation surplus
(127,976)



At 30 June 2024

125,000






Net book value



At 30 June 2024
125,000



At 30 June 2023
252,976

Development costs have been capitalised as it is deemed viable to generate future revenue. This is the development of software for commercial use, capitalised at cost. Once the software has been developed and marketed the costs will be amortised over the period of its useful life. 



Page 7

 
BUNKER BUOY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

5.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 July 2023
596



At 30 June 2024

596



Depreciation


At 1 July 2023
551


Charge for the year on owned assets
12



At 30 June 2024

563



Net book value



At 30 June 2024
33



At 30 June 2023
45

Page 8

 
BUNKER BUOY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

6.


Debtors

2024
2023
£
£


Other debtors
46,617
46,617

46,617
46,617



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
55,445
3,000

55,445
3,000



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank Loan
10,648
10,644

Corporation tax
89,197
83,832

Director's loan account
85,507
21,846

Accruals and deferred income
4,670
5,000

190,022
121,322



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank Loan
9,265
20,104

9,265
20,104


 
Page 9