IRIS Accounts Production v24.3.2.46 08457011 director 1.6.23 31.5.24 31.5.24 0 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh084570112023-05-31084570112024-05-31084570112023-06-012024-05-31084570112022-05-31084570112022-06-012023-05-31084570112023-05-3108457011ns15:EnglandWales2023-06-012024-05-3108457011ns14:PoundSterling2023-06-012024-05-3108457011ns10:Director12023-06-012024-05-3108457011ns10:PrivateLimitedCompanyLtd2023-06-012024-05-3108457011ns10:SmallEntities2023-06-012024-05-3108457011ns10:AuditExempt-NoAccountantsReport2023-06-012024-05-3108457011ns10:SmallCompaniesRegimeForDirectorsReport2023-06-012024-05-3108457011ns10:SmallCompaniesRegimeForAccounts2023-06-012024-05-3108457011ns10:FullAccounts2023-06-012024-05-3108457011ns10:RegisteredOffice2023-06-012024-05-3108457011ns5:CurrentFinancialInstruments2024-05-3108457011ns5:CurrentFinancialInstruments2023-05-3108457011ns5:Non-currentFinancialInstruments2024-05-3108457011ns5:Non-currentFinancialInstruments2023-05-3108457011ns5:ShareCapital2024-05-3108457011ns5:ShareCapital2023-05-3108457011ns5:RetainedEarningsAccumulatedLosses2024-05-3108457011ns5:RetainedEarningsAccumulatedLosses2023-05-3108457011ns5:PlantMachinery2023-05-3108457011ns5:PlantMachinery2023-06-012024-05-3108457011ns5:PlantMachinery2024-05-3108457011ns5:PlantMachinery2023-05-3108457011ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-05-3108457011ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-05-3108457011ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2024-05-3108457011ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2023-05-31084570111ns10:Director12023-05-31084570111ns10:Director12022-05-31084570111ns10:Director12023-06-012024-05-31084570111ns10:Director12022-06-012023-05-31084570111ns10:Director12024-05-31084570111ns10:Director12023-05-31
REGISTERED NUMBER: 08457011 (England and Wales)















THE BUYBACK SERVICE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MAY 2024






THE BUYBACK SERVICE LIMITED (REGISTERED NUMBER: 08457011)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


THE BUYBACK SERVICE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MAY 2024







DIRECTOR: A S Sharif





REGISTERED OFFICE: 152 Halesowen Road
Cradley Heath
West Midlands
B64 5LP





REGISTERED NUMBER: 08457011 (England and Wales)





ACCOUNTANTS: Ashtons Accountants
152 Halesowen Road
Cradley Heath
West Midlands
B64 5LP

THE BUYBACK SERVICE LIMITED (REGISTERED NUMBER: 08457011)

BALANCE SHEET
31ST MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 101,099 162,426

CURRENT ASSETS
Debtors 5 1,459,719 1,341,106
Cash at bank 473,804 461,557
1,933,523 1,802,663
CREDITORS
Amounts falling due within one year 6 1,336,065 1,214,415
NET CURRENT ASSETS 597,458 588,248
TOTAL ASSETS LESS CURRENT
LIABILITIES

698,557

750,674

CREDITORS
Amounts falling due after more than one
year

7

159,120

173,128
NET ASSETS 539,437 577,546

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 539,435 577,544
SHAREHOLDERS' FUNDS 539,437 577,546

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 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.

THE BUYBACK SERVICE LIMITED (REGISTERED NUMBER: 08457011)

BALANCE SHEET - continued
31ST MAY 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 17th February 2025 and were signed by:





A S Sharif - Director


THE BUYBACK SERVICE LIMITED (REGISTERED NUMBER: 08457011)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2024

1. STATUTORY INFORMATION

The Buyback Service Limited 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.

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.

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 each asset over its estimated useful life.

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.

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.

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.

3. EMPLOYEES AND DIRECTORS

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

THE BUYBACK SERVICE LIMITED (REGISTERED NUMBER: 08457011)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st June 2023 200,009
Additions 41,836
Disposals (69,500 )
At 31st May 2024 172,345
DEPRECIATION
At 1st June 2023 37,583
Charge for year 33,663
At 31st May 2024 71,246
NET BOOK VALUE
At 31st May 2024 101,099
At 31st May 2023 162,426

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,405,904 1,334,765
Other debtors 26,180 -
VAT 2,186 1,491
Prepayments 25,449 4,850
1,459,719 1,341,106

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 42,516 42,480
Hire purchase contracts 13,412 5,914
Trade creditors 12,357 1,657
Credit card 4,596 -
Taxation 73,949 62,596
Social security and other taxes - (110 )
Other creditors 1,174,469 1,079,707
Pension creditor 178 49
Directors' current accounts 210 7,035
Accrued expenses 14,378 15,087
1,336,065 1,214,415

THE BUYBACK SERVICE LIMITED (REGISTERED NUMBER: 08457011)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 24,799 66,763
Hire purchase contracts 134,321 106,365
159,120 173,128

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st May 2024 and 31st May 2023:

2024 2023
£    £   
A S Sharif
Balance outstanding at start of year - -
Amounts advanced 21,650 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 21,650 -