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Company Registration No. 09027300 (England and Wales)
BFG IT Management Limited Filleted accounts for the year ended 31 May 2024
BFG IT Management Limited Filleted accounts Contents
Page
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BFG IT Management Limited Company Information for the year ended 31 May 2024
Director
William Forster
Company Number
09027300 (England and Wales)
Registered Office
36 Cullen View Probus Truro Cornwall TR2 4NY England
Accountants
YP Finance Hawthorne House 17A Hawthorne Drive Leicester Leicestershire LE5 6DL
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BFG IT Management Limited Statement of financial position as at 31 May 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Investment property
197,393 
197,393 
Current assets
Debtors
1,347 
1,463 
Cash at bank and in hand
4,081 
6,076 
5,428 
7,539 
Creditors: amounts falling due within one year
(4,589)
(1,888)
Net current assets
839 
5,651 
Total assets less current liabilities
198,232 
203,044 
Creditors: amounts falling due after more than one year
(155,785)
(140,108)
Net assets
42,447 
62,936 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
42,347 
62,836 
Shareholders' funds
42,447 
62,936 
For the year ending 31 May 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 29 May 2025 and were signed on its behalf by
William Forster Director Company Registration No. 09027300
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BFG IT Management Limited Notes to the Accounts for the year ended 31 May 2024
1
Statutory information
BFG IT Management Limited is a private company, limited by shares, registered in England and Wales, registration number 09027300. The registered office is 36 Cullen View, Probus, Truro, Cornwall, TR2 4NY, England.
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.
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
25% straight line
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
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.
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BFG IT Management Limited Notes to the Accounts for the year ended 31 May 2024
4
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 June 2023
1,067 
At 31 May 2024
1,067 
Depreciation
At 1 June 2023
1,067 
At 31 May 2024
1,067 
Net book value
At 31 May 2024
- 
5
Investment property
2024 
£ 
Fair value at 1 June 2023
197,393 
At 31 May 2024
197,393 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Other debtors
1,347 
1,463 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
3,093 
1,150 
Trade creditors
758 
- 
Accruals
738 
738 
4,589 
1,888 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Loans from directors
155,785 
140,108 
9
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
60 A Ordinary shares of £1 each
60 
60 
40 B Ordinary shares of £1 each
40 
40 
100 
100 
10
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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