Bizborough Ltd
Registered number: 06592898
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 - 641
Current assets
Stocks 162,620 187,370
Debtors 4 41,593 40,355
Cash at bank and in hand 3,073 7,993
207,286 235,718
Creditors: amounts falling due within one year 5 (156,845) (175,685)
Net current assets 50,441 60,033
Total assets less current liabilities 50,441 60,674
Creditors: amounts falling due after more than one year 6 (40,884) (44,166)
Net assets 9,557 16,508
Capital and reserves
Called up share capital 100 100
Profit and loss account 9,457 16,408
Shareholders' funds 9,557 16,508
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
I K Lee
Director
Approved by the board on 11 December 2024
Bizborough Ltd
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2023 7,729
Disposals (7,729)
At 31 May 2024 -
Depreciation
At 1 June 2023 7,088
On disposals (7,088)
At 31 May 2024 -
Net book value
At 31 May 2024 -
At 31 May 2023 641
4 Debtors 2024 2023
£ £
Trade debtors 1,049 5,034
Other debtors 40,544 35,321
41,593 40,355
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors - 1,088
Corporation tax - 5,758
Other taxes and social security costs 4,603 2,505
Other creditors 152,242 166,334
156,845 175,685
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 40,884 44,166
7 Other information
Bizborough Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Suite 41, Chessington Business Centre
37 Cox Lane
Chessington
Surrey
KT9 1SD
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