BOOKWHEN LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 APRIL 2024
Company Registration Number: 08914060
BOOKWHEN LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
CONTENTS PAGES
Company information 1
Balance sheet 2 to 3
Notes to the financial statements 4 to 10
BOOKWHEN LTD
COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024
DIRECTOR
J Potts
SECRETARY
The company does not have an appointed secretary
REGISTERED OFFICE
Belsyre Court
57 Woodstock Road
Oxford
OX2 6HJ
COMPANY REGISTRATION NUMBER
08914060 England and Wales
BOOKWHEN LTD
BALANCE SHEET
AS AT 30 APRIL 2024
Restated - See note 4
Notes 2024 2023
£ £
FIXED ASSETS
Tangible assets 7 13,996 16,345
CURRENT ASSETS
Debtors 8 595,966 589,972
Cash at bank and in hand 1,024,032 814,434
1,619,998 1,404,406
CREDITORS: Amounts falling due within one year 9 397,135 346,831
NET CURRENT ASSETS 1,222,863 1,057,575
TOTAL ASSETS LESS CURRENT LIABILITIES 1,236,859 1,073,920
Provisions for liabilities and charges 3,499 4,086
NET ASSETS 1,233,360 1,069,834
CAPITAL AND RESERVES
Called up share capital 1 1
Distributable profit and loss account 1,233,359 1,069,833
SHAREHOLDER'S FUNDS 1,233,360 1,069,834
BOOKWHEN LTD
BALANCE SHEET
AS AT 30 APRIL 2024
These accounts have been prepared and delivered in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.
For the financial year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
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.
As permitted by S444 (5A) of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company’s Profit and Loss Account or Directors Report.
Signed on behalf of the board
J Potts
Director
Date approved by the board: 30 January 2025
BOOKWHEN LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
1 GENERAL INFORMATION
Bookwhen Ltd is a private company limited by shares and incorporated in England and Wales. Its registered office is:
Belsyre Court
57 Woodstock Road
Oxford
OX2 6HJ
The financial statements are presented in Sterling, which is the functional currency of the company.
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of preparation of financial statements
These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A smaller entities 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102') and the Companies Act 2006.
Revenue recognition
Turnover is measured at the fair value of consideration received or receivable. It is recognised in respect of the provision of an online booking system as soon as there is a right to consideration and is determined by reference to the value of the work performed. Revenue is reported in the period in which the service has been provided and reflects the partial performance of the company's contractual obligation where this can be measured reliably. Turnover is stated net of trade discounts and value added tax.
The company recognises revenue when the amount of revenue can be measured reliably and when it is probable that future economic benefits will flow to the entity.
Intangible fixed assets
Intangible fixed assets, other than goodwill, are stated at cost less accumulated amortisation and any accumulated impairment losses. They have been fully amortised.
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new expectations.
BOOKWHEN LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
Tangible fixed assets
Fixed assets are carried at cost less accumulated depreciation and accumulated impairment losses.
Depreciation has been provided at the following rate so as to write off the cost or valuation of assets less residual value of the assets over their estimated useful lives.
Computer equipment Straight line basis at 33% per annum
Office equipment Straight line basis at 33% per annum
On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in the profit and loss account, and included within administrative expenses.
Financial Instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Financial assets are measured at cost and are assessed at the end of each reporting period for objective evidence of impairment. Where objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account.
The impairment loss for financial assets measured at cost is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amount and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets (which is the higher of value in use and the fair value less cost to sell) is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in the profit and loss account.
If an impairment loss is subsequently reversed, the carrying amount of the asset, or group of related assets, is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset, or group of related assets, in prior periods. A reversal of an impairment loss is recognised immediately in the profit and loss account.
BOOKWHEN LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
Debtors
Short term debtors are measured at transaction price, less any impairment.
Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and subsequently at amortised cost.
Taxation
Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period.
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods based on current tax rates and laws. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 taxable profits.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Current and deferred tax assets and liabilities are not discounted.
Foreign currencies
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction.
Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are translated at the rate of exchange prevailing at that date. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit or loss.
Pensions
The company operates a defined contribution pension scheme. The amount charged to the profit and loss account in respect of pension costs and other post-retirement benefits is the amount payable in the year. Differences between contributions payable and contributions actually paid in the year are shown as either accruals or prepayments in the balance sheet.
BOOKWHEN LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
Research and development
Expenditure on research is written off against profits in the year in which it is incurred. Development expenditure is capitalised and recognised in accordance with the company's policy for intangible fixed assets.
Development costs capitalised relate to costs of developing the online booking system for use of the company's customers. It is estimated that this system will have a useful economic life of 3 years.
3 CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS
No significant accounting estimates and judgements have had to be made by the director in preparing these financial statements.
4 RESTATEMENT OF COMPARATIVES
During the preparation of these accounts, it was identified that the deferred income balances at 30 April 2022 and 30 April 2023 had been understated resulting in sales, net profit and corporation tax being overstated. As a result, the comparative figures have been restated as follows.
Retained earnings brought forward at 1 May 2022 Accruals and deferred income (Note 9) Taxation and social security (Note 9) Distributable profit and loss account at 30 April 2023
As previously stated 929,127 49,508 155,343 1,201,260
Understated deferred income YE 30 April 22 (101,503) 125,313 (23,810) (101,503)
Understated deferred income YE 30 April 23 - 29,924 - (29,924)
As restated 827,624 204,745 131,533 1,069,833
It was also identified that certain sales had been stated net of payment processing fees resulting in sales and administrative expenses being understated in the year ended 30 April 2023 by £33,239. The comparative sales and administrative figures have therefore been restated and increased by £33,239. There was no impact on the company's net profit.
BOOKWHEN LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
5 EMPLOYEES
The average number of persons employed by the company (including the director) during the year was:
2024 2023
Average number of employees 16 13
6 INTANGIBLE FIXED ASSETS Development costs
£
Cost
At 1 May 2023 41,446
At 30 April 2024 41,446
Accumulated amortisation and impairments
At 1 May 2023 41,446
At 30 April 2024 41,446
Net book value
At 1 May 2023 -
At 30 April 2024 -
BOOKWHEN LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
7 TANGIBLE ASSETS
Computer equipment Office equipment Total
£ £ £
Cost
At 1 May 2023 28,790 - 28,790
Additions 7,658 389 8,047
Disposals (2,665) - (2,665)
At 30 April 2024 33,783 389 34,172
Accumulated depreciation and impairments
At 1 May 2023 12,445 - 12,445
Charge for year 8,506 62 8,568
Disposals (837) - (837)
At 30 April 2024 20,114 62 20,176
Net book value
At 1 May 2023 16,345 - 16,345
At 30 April 2024 13,669 327 13,996
8 DEBTORS
2024 2023
£ £
Trade debtors 798 2,214
Prepayments and accrued income 15,914 26,555
Other debtors 579,254 561,203
595,966 589,972
9 CREDITORS: Amounts falling due within one year
Restated -
See note 4
2024 2023
£ £
Trade creditors - 6,058
Taxation and social security 150,276 131,533
Accruals and deferred income 234,859 204,745
Other creditors 12,000 4,495
397,135 346,831
BOOKWHEN LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
10 DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES
The following director's advances, credits and guarantees took place during the year:
Balance at 1 May 2023 Amounts advanced Amounts repaid Amounts written off or waived Balance at 30 April 2024
£ £ £ £ £
J Potts 419,587 104,184 90,689 - 433,082
Interest has been charged on this advance at the Beneficial Loan Arrangement Official Rate as prescribed by HM Revenue and Customs. The advance is repayable on demand.
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