Company registration number 08101345 (England and Wales)
THE BUYERS NETWORKING CLUB LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
PAGES FOR FILING WITH REGISTRAR
THE BUYERS NETWORKING CLUB LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
THE BUYERS NETWORKING CLUB LIMITED (REGISTERED NUMBER: 08101345)
BALANCE SHEET
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
3
57,308
Cash at bank and in hand
269
1,292
269
58,600
Creditors: amounts falling due within one year
4
(22,259)
(24,180)
Net current (liabilities)/assets
(21,990)
34,420
Creditors: amounts falling due after more than one year
5
(34,208)
Net (liabilities)/assets
(21,990)
212
Capital and reserves
Called up share capital
20
20
Profit and loss reserves
(22,010)
192
Total equity
(21,990)
212
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 July 2024 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 25 April 2025
K M Paulden
Director
THE BUYERS NETWORKING CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
- 2 -
1
Accounting policies
Company information
The Buyers Networking Club Limited is a private company limited by shares incorporated in England and Wales. The registered office is 'Old Trees', Brightwalton, Berkshire, RG20 7BP.
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 £1.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
The company ceased trading in the previous year and the accounts haven't been prepared on a break up basis as this is not materially different to being prepared on a going concern basis.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT.
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
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.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
1
3
THE BUYERS NETWORKING CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 3 -
3
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
57,308
4
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
14,400
Taxation and social security
7,710
Other creditors
22,259
2,070
22,259
24,180
5
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
34,208
6
Financial commitments, guarantees and contingent liabilities
During the year to 31 July 2021 the company borrowed £73,920 from its bankers for a Bounce Back Loan. As part of this loan scheme, the UK government has guaranteed the advance and has paid the interest and fees due for the first 12 months. As at the balance sheet date, the balance outstanding to the companies bankers was £nil.
During the year, the bank has agreed to transfer the bounce back loan to the director personally.