16 false false false false false false false false false false true false false false false true true No description of principal activity 2023-05-01 Sage Accounts Production Advanced 2023 - FRS102_2023 30,000 21,000 3,000 24,000 6,000 9,000 23,214 2,426 1,554 24,086 19,582 1,928 1,325 20,185 3,901 3,632 xbrli:pure xbrli:shares iso4217:GBP 09541133 2023-05-01 2024-04-30 09541133 2024-04-30 09541133 2023-04-30 09541133 2022-05-01 2023-04-30 09541133 2023-04-30 09541133 2022-04-30 09541133 core:NetGoodwill 2023-05-01 2024-04-30 09541133 core:FurnitureFittings 2023-05-01 2024-04-30 09541133 bus:Director1 2023-05-01 2024-04-30 09541133 bus:Director2 2023-05-01 2024-04-30 09541133 core:WithinOneYear 2024-04-30 09541133 core:WithinOneYear 2023-04-30 09541133 core:NetGoodwill 2023-04-30 09541133 core:NetGoodwill 2024-04-30 09541133 core:FurnitureFittings 2023-04-30 09541133 core:FurnitureFittings 2024-04-30 09541133 core:AfterOneYear 2024-04-30 09541133 core:AfterOneYear 2023-04-30 09541133 core:ShareCapital 2024-04-30 09541133 core:ShareCapital 2023-04-30 09541133 core:RetainedEarningsAccumulatedLosses 2024-04-30 09541133 core:RetainedEarningsAccumulatedLosses 2023-04-30 09541133 core:NetGoodwill 2023-04-30 09541133 core:FurnitureFittings 2023-04-30 09541133 bus:SmallEntities 2023-05-01 2024-04-30 09541133 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 09541133 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 09541133 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 09541133 bus:FullAccounts 2023-05-01 2024-04-30
COMPANY REGISTRATION NUMBER: 09541133
BBP LEGAL LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 April 2024
BBP LEGAL LIMITED
STATEMENT OF FINANCIAL POSITION
30 April 2024
2024
2023
Note
£
£
FIXED ASSETS
Intangible assets
5
6,000
9,000
Tangible assets
6
3,901
3,632
-------
---------
9,901
12,632
CURRENT ASSETS
Stocks
64,078
60,485
Debtors
7
113,040
113,889
Cash at bank and in hand
2,347,536
3,087,680
-------------
-------------
2,524,654
3,262,054
CREDITORS: amounts falling due within one year
8
2,480,998
3,222,660
-------------
-------------
NET CURRENT ASSETS
43,656
39,394
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
53,557
52,026
CREDITORS: amounts falling due after more than one year
9
10,833
20,833
---------
---------
NET ASSETS
42,724
31,193
---------
---------
BBP LEGAL LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
30 April 2024
2024
2023
Note
£
£
CAPITAL AND RESERVES
Called up share capital
100
100
Profit and loss account
42,624
31,093
---------
---------
SHAREHOLDERS FUNDS
42,724
31,193
---------
---------
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 income and retained earnings has not been delivered.
For the year ending 30th April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 29 January 2025 , and are signed on behalf of the board by:
Mr RJ Bagguley
Ms NJ Codd
Director
Director
Company registration number: 09541133
BBP LEGAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30th APRIL 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 15 Northumberland Street, Morecambe, Lancashire, LA4 4AU.
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.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) No cash flow statement has been presented for the company. (b) No disclosure has been given for the aggregate remuneration of key management personnel.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
10% straight line
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 estimates.
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
-
20% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 16 (2023: 17 ).
5. INTANGIBLE ASSETS
Goodwill
£
Cost
At 1st May 2023 and 30th April 2024
30,000
---------
Amortisation
At 1st May 2023
21,000
Charge for the year
3,000
---------
At 30th April 2024
24,000
---------
Carrying amount
At 30th April 2024
6,000
---------
At 30th April 2023
9,000
---------
6. TANGIBLE ASSETS
Fixtures and fittings
£
Cost
At 1st May 2023
23,214
Additions
2,426
Disposals
( 1,554)
---------
At 30th April 2024
24,086
---------
Depreciation
At 1st May 2023
19,582
Charge for the year
1,928
Disposals
( 1,325)
---------
At 30th April 2024
20,185
---------
Carrying amount
At 30th April 2024
3,901
---------
At 30th April 2023
3,632
---------
7. DEBTORS
2024
2023
£
£
Trade debtors
103,541
105,576
Prepayments and accrued income
9,499
8,313
----------
----------
113,040
113,889
----------
----------
8. CREDITORS: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
70,344
59,648
Payments received on account
2,325,277
3,087,274
Trade creditors
12,673
12,019
Accruals and deferred income
18,728
16,518
Corporation tax
7,021
6,103
Social security and other taxes
46,220
38,746
Director loan accounts
2
523
Other creditors
733
1,829
-------------
-------------
2,480,998
3,222,660
-------------
-------------
9. CREDITORS: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
10,833
20,833
---------
---------
10. RELATED PARTY TRANSACTIONS
The company paid rent for the property 13-15 Northumberland Street, Morecambe amounting to £16,000 per annum. Number 15 is owned soley by Mr RJ Bagguley (director) and Number 13 is jointly owned by Mr Bagguley and a former employee of the company. The Directors consider the rent charged to the company to be an arms length transaction.