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REGISTERED NUMBER: 01217536 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 April 2024

for

BFS Wealth and Protection Ltd

BFS Wealth and Protection Ltd (Registered number: 01217536)

Contents of the Financial Statements
for the Year Ended 30 April 2024










Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


BFS Wealth and Protection Ltd

Company Information
for the Year Ended 30 April 2024







DIRECTOR: Mr S Burley



REGISTERED OFFICE: 1 Europa View
Sheffield Business Park
Europa Link
Sheffield
South Yorkshire
S9 1XH



REGISTERED NUMBER: 01217536 (England and Wales)



ACCOUNTANTS: Landin Wilcock & Co
Chartered Accountants
68 Queen Street
Sheffield
South Yorkshire
S1 1WR



BANKERS: Virgin Money
66 Fargate
Sheffield
South Yorkshire
S1 2HE

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
BFS Wealth and Protection Ltd


The following reproduces the text of the report prepared for the director 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 Director's Report 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 BFS Wealth and Protection Ltd for the year ended 30 April 2024 which comprise the Income Statement, Other Comprehensive Income, 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 director of BFS Wealth and Protection Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of BFS Wealth and Protection Ltd and state those matters that we have agreed to state to the director of BFS Wealth and Protection Ltd 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 BFS Wealth and Protection Ltd and its director for our work or for this report.

It is your duty to ensure that BFS Wealth and Protection Ltd 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 BFS Wealth and Protection Ltd. You consider that BFS Wealth and Protection Ltd 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 BFS Wealth and Protection Ltd. 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.






Landin Wilcock & Co
Chartered Accountants
68 Queen Street
Sheffield
South Yorkshire
S1 1WR


28 January 2025

BFS Wealth and Protection Ltd (Registered number: 01217536)

Balance Sheet
30 April 2024

30/4/24 30/4/23
Notes £    £   
FIXED ASSETS
Tangible assets 4 85,858 73,241
Investments 5 2 77,101
85,860 150,342

CURRENT ASSETS
Debtors 6 86,927 63,813
Investments 7 92,847 -
Cash at bank and in hand 43,362 136,378
223,136 200,191
CREDITORS
Amounts falling due within one year 8 (87,913 ) (44,829 )
NET CURRENT ASSETS 135,223 155,362
TOTAL ASSETS LESS CURRENT LIABILITIES 221,083 305,704

CREDITORS
Amounts falling due after more than one
year

9

(24,186

)

(35,015

)
NET ASSETS 196,897 270,689

CAPITAL AND RESERVES
Called up share capital 120,000 120,000
Retained earnings 76,897 150,689
196,897 270,689

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 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.

BFS Wealth and Protection Ltd (Registered number: 01217536)

Balance Sheet - continued
30 April 2024


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 28 January 2025 and were signed by:





Mr S Burley - Director


BFS Wealth and Protection Ltd (Registered number: 01217536)

Notes to the Financial Statements
for the Year Ended 30 April 2024


1. STATUTORY INFORMATION

BFS Wealth and Protection Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 20% on cost
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 33% on cost

Tangible fixed assets are initially measured at cost. Subsequently, they are measured at cost less accumulated depreciation and impairment losses.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Financial instruments
Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the asset of the company after deducting all of its liabilities.

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.


BFS Wealth and Protection Ltd (Registered number: 01217536)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


2. ACCOUNTING POLICIES - continued
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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Financial instruments
Financial assets and financial liabilities are recognised when the Company becomes party to the contractual provisions of the instrument. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 7 ) .

BFS Wealth and Protection Ltd (Registered number: 01217536)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 May 2023 - 14,903 50,000 73,902 138,805
Additions 31,588 - - 3,074 34,662
At 30 April 2024 31,588 14,903 50,000 76,976 173,467
DEPRECIATION
At 1 May 2023 - 5,698 833 59,033 65,564
Charge for year 2,360 2,301 9,834 7,550 22,045
At 30 April 2024 2,360 7,999 10,667 66,583 87,609
NET BOOK VALUE
At 30 April 2024 29,228 6,904 39,333 10,393 85,858
At 30 April 2023 - 9,205 49,167 14,869 73,241

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 May 2023
and 30 April 2024 50,000
DEPRECIATION
At 1 May 2023 833
Charge for year 9,834
At 30 April 2024 10,667
NET BOOK VALUE
At 30 April 2024 39,333
At 30 April 2023 49,167

BFS Wealth and Protection Ltd (Registered number: 01217536)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


5. FIXED ASSET INVESTMENTS
Shares in
group Other
undertakings investments Totals
£    £    £   
COST OR VALUATION
At 1 May 2023 2 77,099 77,101
Revaluations - 15,748 15,748
Reclassification/transfer - (92,847 ) (92,847 )
At 30 April 2024 2 - 2
NET BOOK VALUE
At 30 April 2024 2 - 2
At 30 April 2023 2 77,099 77,101

Cost or valuation at 30 April 2024 is represented by:

Shares in
group Other
undertakings investments Totals
£    £    £   
Valuation in 2018 - 11,091 11,091
Valuation in 2020 - 6,393 6,393
Valuation in 2021 - 26,492 26,492
Valuation in 2022 - 738 738
Valuation in 2023 - 6,562 6,562
Valuation in 2024 - 15,748 15,748
Valuation in 2024 - (92,847 ) (92,847 )
Cost 2 25,823 25,825
2 - 2

Other investments with a value of £92,847 were reclassified as current asset investments in anticipation of sale in the next accounting period.

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Associated company

DEB Wealth Management & Protection Ltd
Registered office: DEB House 19 Middlewoods Way, Wharncliffe Business Park, Carlton, Barnsley, S71 3HR
Nature of business: Financial Services
%
Class of shares: holding
Ordinary A Shares 50.00
30/4/24 30/4/23
£    £   
Aggregate capital and reserves 3,521 3,598
(Loss)/profit for the year (77 ) 5

The market value of the listed investments at 30 April 2024 was £0 (2023 - £77,099).

BFS Wealth and Protection Ltd (Registered number: 01217536)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/4/24 30/4/23
£    £   
Trade debtors 16,476 19,603
Other debtors 70,451 44,210
86,927 63,813

7. CURRENT ASSET INVESTMENTS
30/4/24 30/4/23
£    £   
Listed investments 92,847 -

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/4/24 30/4/23
£    £   
Hire purchase contracts (see note 10) 10,828 9,985
Trade creditors 37,433 6,357
Taxation and social security 11,271 8,080
Other creditors 28,381 20,407
87,913 44,829

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30/4/24 30/4/23
£    £   
Hire purchase contracts (see note 10) 24,186 35,015

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
30/4/24 30/4/23
£    £   
Net obligations repayable:
Within one year 10,828 9,985
Between one and five years 24,186 35,015
35,014 45,000

Non-cancellable operating leases
30/4/24 30/4/23
£    £   
Within one year 12,500 -
Between one and five years 35,458 -
47,958 -

The company has a rental lease to March 2028.

BFS Wealth and Protection Ltd (Registered number: 01217536)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2024 and 30 April 2023:

30/4/24 30/4/23
£    £   
Mr S Burley
Balance outstanding at start of year (631 ) (1,531 )
Amounts advanced 2,440 1,500
Amounts repaid (901 ) (600 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 908 (631 )

12. RELATED PARTY DISCLOSURES

Summary of transactions with subsidiaries
DEB Wealth Management & Protection Limited
(A company in which BFS Wealth and Protection Ltd owns 50% of the ordinary shares)
During the year the company received a management charge of £21,160 (2023 - £21,063).
At the balance sheet date the amount due to/(from) DEB Wealth Management & Protection Limited was £nil (2023 - £nil).