Company registration number 13057194 (England and Wales)
KSBNA/BLOOMSBURY LIMITED
Unaudited Financial Statements
for the Year Ended 31 July 2024
KSBNA/BLOOMSBURY LIMITED
CONTENTS
Page
Company Information
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
KSBNA/BLOOMSBURY LIMITED
BALANCE SHEET
AS AT
31 JULY 2024
31 July 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
261,695
277,089
Tangible assets
4
13,608
9,908
275,303
286,997
Current assets
Debtors
5
3,368
2,586
Cash at bank and in hand
59,379
99,607
62,747
102,193
Creditors: amounts falling due within one year
6
(149,244)
(152,915)
Net current liabilities
(86,497)
(50,722)
Total assets less current liabilities
188,806
236,275
Creditors: amounts falling due after more than one year
7
(171,356)
(190,721)
Provisions for liabilities
(3,402)
-
0
Net assets
14,048
45,554
Capital and reserves
Called up share capital
10
10
Profit and loss reserves
14,038
45,544
Total equity
14,048
45,554
KSBNA/BLOOMSBURY LIMITED
BALANCE SHEET
AS AT
31 JULY 2024
31 July 2024
- 2 -

For the financial year ended 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 13 February 2025 and are signed on its behalf by:
Dr N Abolsedgh
Director
Company registration number 13057194 (England and Wales)
KSBNA/BLOOMSBURY LIMITED
Notes to the Financial Statements
For the Year Ended 31 July 2024
- 3 -
1
Accounting policies
Company information

KSBNA/Bloomsbury Limited is a private company limited by shares incorporated in England and Wales. The registered office is Staverton Court, Staverton, Cheltenham, Gloucestershire, GL51 0UX.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

 

The company recognises Turnover when:

The amount of Turnover can be reliably measured;

it is probable that future economic benefits will flow to the entity;

and specific criteria have been met for each of the company's activities.

1.3
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 20 years.

 

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
25% straight line
Fixtures and fittings
25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

KSBNA/BLOOMSBURY LIMITED
Notes to the Financial Statements
For the Year Ended 31 July 2024
1
Accounting policies
- 4 -
1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are recognised at transaction price.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised at transaction price.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

KSBNA/BLOOMSBURY LIMITED
Notes to the Financial Statements
For the Year Ended 31 July 2024
1
Accounting policies
- 5 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.9
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
KSBNA/BLOOMSBURY LIMITED
Notes to the Financial Statements
For the Year Ended 31 July 2024
- 6 -
3
Intangible fixed assets
Goodwill
£
Cost
At 1 August 2023 and 31 July 2024
307,877
Amortisation and impairment
At 1 August 2023
30,788
Amortisation charged for the year
15,394
At 31 July 2024
46,182
Carrying amount
At 31 July 2024
261,695
At 31 July 2023
277,089
4
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Total
£
£
£
Cost
At 1 August 2023
10,000
6,497
16,497
Additions
8,880
412
9,292
At 31 July 2024
18,880
6,909
25,789
Depreciation and impairment
At 1 August 2023
4,792
1,797
6,589
Depreciation charged in the year
3,934
1,658
5,592
At 31 July 2024
8,726
3,455
12,181
Carrying amount
At 31 July 2024
10,154
3,454
13,608
At 31 July 2023
5,208
4,700
9,908
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
3,368
2,273
Other debtors
-
0
313
3,368
2,586
KSBNA/BLOOMSBURY LIMITED
Notes to the Financial Statements
For the Year Ended 31 July 2024
- 7 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
20,583
21,801
Trade creditors
8,980
5,573
Taxation and social security
30,497
43,328
Other creditors
89,184
82,213
149,244
152,915
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
171,356
190,721
8
Loans and overdrafts
2024
2023
£
£
Bank loans
191,939
212,522
Payable within one year
20,583
21,801
Payable after one year
171,356
190,721

Lloyds Bank Business Loan is denominated in GBP with a nominal interest rate of 2.7% plus base rate, and the final instalment is due on 5 November 2031. The carrying amount at year end is £191,939 (2023 - £212,522).

 

The loan is secured against the company with personal guarantees.

 

2024-07-312023-08-01false13 February 2025CCH SoftwareCCH Accounts Production 2024.200No description of principal activityDr N AbolsedghDr K S Bhogalfalsefalse130571942023-08-012024-07-31130571942024-07-31130571942023-07-3113057194core:Goodwill2024-07-3113057194core:Goodwill2023-07-3113057194core:PlantMachinery2024-07-3113057194core:FurnitureFittings2024-07-3113057194core:PlantMachinery2023-07-3113057194core:FurnitureFittings2023-07-3113057194core:CurrentFinancialInstrumentscore:WithinOneYear2024-07-3113057194core:CurrentFinancialInstrumentscore:WithinOneYear2023-07-3113057194core:Non-currentFinancialInstrumentscore:AfterOneYear2024-07-3113057194core:Non-currentFinancialInstrumentscore:AfterOneYear2023-07-3113057194core:CurrentFinancialInstruments2024-07-3113057194core:CurrentFinancialInstruments2023-07-3113057194core:ShareCapital2024-07-3113057194core:ShareCapital2023-07-3113057194core:RetainedEarningsAccumulatedLosses2024-07-3113057194core:RetainedEarningsAccumulatedLosses2023-07-3113057194bus:Director12023-08-012024-07-3113057194core:Goodwill2023-08-012024-07-3113057194core:PlantMachinery2023-08-012024-07-3113057194core:FurnitureFittings2023-08-012024-07-31130571942022-08-012023-07-3113057194core:Goodwill2023-07-3113057194core:PlantMachinery2023-07-3113057194core:FurnitureFittings2023-07-31130571942023-07-3113057194core:WithinOneYear2024-07-3113057194core:WithinOneYear2023-07-3113057194core:Non-currentFinancialInstruments2024-07-3113057194core:Non-currentFinancialInstruments2023-07-3113057194bus:PrivateLimitedCompanyLtd2023-08-012024-07-3113057194bus:SmallCompaniesRegimeForAccounts2023-08-012024-07-3113057194bus:FRS1022023-08-012024-07-3113057194bus:AuditExemptWithAccountantsReport2023-08-012024-07-3113057194bus:Director22023-08-012024-07-3113057194bus:FullAccounts2023-08-012024-07-31xbrli:purexbrli:sharesiso4217:GBP