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Company Registration No. 13040389 (England and Wales)
BFW Financial Services Limited Unaudited accounts for the year ended 31 October 2024
BFW Financial Services Limited Statement of financial position as at 31 October 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
141,972 
154,879 
Tangible assets
153 
990 
142,125 
155,869 
Current assets
Debtors
254 
235 
Cash at bank and in hand
8,313 
3,302 
8,567 
3,537 
Creditors: amounts falling due within one year
(137,522)
(156,594)
Net current liabilities
(128,955)
(153,057)
Total assets less current liabilities
13,170 
2,812 
Provisions for liabilities
Deferred tax
(29)
(188)
Net assets
13,141 
2,624 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
13,041 
2,524 
Shareholders' funds
13,141 
2,624 
For the year ending 31 October 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 in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 10 April 2024 and were signed on its behalf by
Benjamin Freeman Wright Director Company Registration No. 13040389
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BFW Financial Services Limited Notes to the Accounts for the year ended 31 October 2024
1
Statutory information
BFW Financial Services Limited is a private company, limited by shares, registered in England and Wales, registration number 13040389. The registered office is 26 Shirley Park Road, Shirley, Solihull, Warwickshire, B90 2BZ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
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 from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
3 years straight line
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
- 3 -
BFW Financial Services Limited Notes to the Accounts for the year ended 31 October 2024
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 November 2023
193,600 
At 31 October 2024
193,600 
Amortisation
At 1 November 2023
38,721 
Charge for the year
12,907 
At 31 October 2024
51,628 
Net book value
At 31 October 2024
141,972 
At 31 October 2023
154,879 
5
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 November 2023
2,511 
At 31 October 2024
2,511 
Depreciation
At 1 November 2023
1,521 
Charge for the year
837 
At 31 October 2024
2,358 
Net book value
At 31 October 2024
153 
At 31 October 2023
990 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
254 
235 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Taxes and social security
7,178 
5,975 
Other creditors
1,240 
- 
Loans from directors
128,723 
150,200 
Accruals
381 
419 
137,522 
156,594 
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BFW Financial Services Limited Notes to the Accounts for the year ended 31 October 2024
8
Deferred taxation
2024 
2023 
£ 
£ 
Accelerated capital allowances
29 
188 
2024 
2023 
£ 
£ 
Provision at start of year
188 
347 
Credited to the profit and loss account
(159)
(159)
Provision at end of year
29 
188 
9
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
10
Average number of employees
During the year the average number of employees was 1 (2023: 1).
- 5 -