REGISTERED NUMBER: |
The-Bunch Limited |
Unaudited Financial Statements |
for the Year Ended 30 June 2024 |
REGISTERED NUMBER: |
The-Bunch Limited |
Unaudited Financial Statements |
for the Year Ended 30 June 2024 |
The-Bunch Limited (Registered number: 10303631) |
Contents of the Financial Statements |
for the year ended 30 June 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
The-Bunch Limited |
Company Information |
for the year ended 30 June 2024 |
Directors: |
Registered office: |
Registered number: |
The-Bunch Limited (Registered number: 10303631) |
Balance Sheet |
30 June 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
Fixed assets |
Intangible assets | 4 |
Tangible assets | 5 |
Investments | 6 |
Current assets |
Debtors | 7 |
Cash at bank and in hand |
Creditors |
Amounts falling due within one year | 8 |
Net current (liabilities)/assets | ( |
) |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year |
9 |
Net assets |
Capital and reserves |
Called up share capital | 10 |
Share premium | 11 |
Retained earnings | 11 | ( |
) | ( |
) |
Shareholders' funds |
The directors acknowledge their 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-Bunch Limited (Registered number: 10303631) |
Balance Sheet - continued |
30 June 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
The-Bunch Limited (Registered number: 10303631) |
Notes to the Financial Statements |
for the year ended 30 June 2024 |
1. | Statutory information |
The-Bunch Limited is a |
2. | Accounting policies |
Basis of preparing the financial statements |
Going concern |
The financial statements have been prepared on a going concern basis. The directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Turnover represents amounts receivable for goods and services provided in the year and is stated net of VAT. |
Turnover included in the Income Statement is recognised when revenue 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. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Computer equipment | - |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Financial instruments |
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors, creditors, loans from the bank and other third parties, loans to related parties, and investment in ordinary shares. |
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 amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
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. |
The-Bunch Limited (Registered number: 10303631) |
Notes to the Financial Statements - continued |
for the year ended 30 June 2024 |
2. | Accounting policies - continued |
Research and development |
Expenditure on research is written off in the year in which it is incurred, this includes external consultancy costs. Where costs relate to clearly feasible and identifiable projects, external contractor costs have been capitalised as intangible fixed assets. |
Hire purchase and leasing commitments |
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. |
3. | Employees and directors |
The average number of employees during the year was |
4. | Intangible fixed assets |
Development |
costs |
£ |
Cost |
At 1 July 2023 |
and 30 June 2024 |
Amortisation |
At 1 July 2023 |
Amortisation for year |
At 30 June 2024 |
Net book value |
At 30 June 2024 |
At 30 June 2023 |
5. | Tangible fixed assets |
Computer |
equipment |
£ |
Cost |
At 1 July 2023 |
Additions |
Disposals | ( |
) |
At 30 June 2024 |
Depreciation |
At 1 July 2023 |
Charge for year |
Eliminated on disposal | ( |
) |
At 30 June 2024 |
Net book value |
At 30 June 2024 |
At 30 June 2023 |
The-Bunch Limited (Registered number: 10303631) |
Notes to the Financial Statements - continued |
for the year ended 30 June 2024 |
6. | Fixed asset investments |
Shares in |
group |
undertakings |
£ |
Cost |
At 1 July 2023 |
and 30 June 2024 |
Net book value |
At 30 June 2024 |
At 30 June 2023 |
7. | Debtors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
Directors' current accounts | 597 | 6,312 |
Tax |
Prepayments and accrued income |
8. | Creditors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Social security and other taxes |
VAT | 61,272 | 10,369 |
Other creditors |
Accruals and deferred income |
9. | Creditors: amounts falling due after more than one year |
2024 | 2023 |
£ | £ |
Bank loans - 1-2 years |
10. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | 0.001 | 2,449 | 2,430 |
Allotted and issued: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
B Class | 0.1 | 61 | - |
The-Bunch Limited (Registered number: 10303631) |
Notes to the Financial Statements - continued |
for the year ended 30 June 2024 |
10. | Called up share capital - continued |
During the year, the company issued new shares 18,610 ordinary shares with nominal value £0.001 each and 60,793 B type shares with nominal value £0.001 each. |
11. | Reserves |
Retained | Share |
earnings | premium | Totals |
£ | £ | £ |
At 1 July 2023 | ( |
) | 1,017,479 |
Deficit for the year | ( |
) | ( |
) |
Cash share issue | - | 433,299 | 433,299 |
At 30 June 2024 | ( |
) | 38,970 |
12. | Related party disclosures |
Included within other debtors is £597 (2023: £6,312) owed from directors to the company. This amount was repaid to the company within nine months of the financial year end. |
13. | Post balance sheet events |
Post year-end, there have been substantial changes to how the Company are working with key utility suppliers, which will have a significant impact on the way liabilities, customer debt and revenue are recorded in the financial statements to 30th June 2025. |