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REGISTERED NUMBER: 13578902 (England and Wales)















Financial Statements for the Year Ended 31 December 2024

for

BSL-IT South Limited

BSL-IT South Limited (Registered number: 13578902)

Contents of the Financial Statements
for the Year Ended 31 December 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


BSL-IT South Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: D Herring
M P Lewis
J Edmonds
R S G Edmonds





REGISTERED OFFICE: The Old Pump Station
Furnace Lane
Finedon
Northamptonshire
NN9 5NZ





REGISTERED NUMBER: 13578902 (England and Wales)





AUDITORS: Harris & Co (Accountants) Ltd, Statutory Auditor
2 Pavilion Court
600 Pavilion Drive
Northampton
NN4 7SL

BSL-IT South Limited (Registered number: 13578902)

Balance Sheet
31 December 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 1,993 2,946

CURRENT ASSETS
Debtors 5 412,094 295,762
Cash at bank and in hand 99,141 101,314
511,235 397,076
CREDITORS
Amounts falling due within one year 6 401,333 321,477
NET CURRENT ASSETS 109,902 75,599
TOTAL ASSETS LESS CURRENT LIABILITIES 111,895 78,545

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 111,795 78,445
SHAREHOLDERS' FUNDS 111,895 78,545

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 Board of Directors and authorised for issue on 5 June 2025 and were signed on its behalf by:





M P Lewis - Director


BSL-IT South Limited (Registered number: 13578902)

Notes to the Financial Statements
for the Year Ended 31 December 2024


1. STATUTORY INFORMATION

BSL-IT South 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
The financial statements have been prepared on a going concern basis.

The company was solvent as at 31 December 2024, and continues to meet its liabilities as they fall due.

Subsequent to the year end, the directors resolved on 16 May 2025 to cease trading and close the company in an orderly manner.

The directors have assessed the appropriateness of the going concern basis and concluded that it remains appropriate for the preparation of these financial statements. Although the company is expected to cease trading during the subsequent financial year, no material adjustments would arise if the financial statements were prepared on a basis other than going concern.

Accordingly, the financial statements have been prepared on a going concern basis.

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.

Significant judgements and estimates
Asset lives
Judgement is used in determining the expected useful life of the company's assets at each balance sheet date in order to ensure that the assets are valued at an amount which accurately reflects their value in use or recoverable value. The directors have used their experience of the sector to estimate the expected useful lives of the company's assets and these are in line with those used by most companies.

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.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Plant and machinery 5 years straight line
Fixtures and fittings 5 years straight line
Computer equipment 5 years straight line

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 and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

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.

BSL-IT South Limited (Registered number: 13578902)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


2. ACCOUNTING POLICIES - continued

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.

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

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.

Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when they are approved by the directors. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2024 2,438 2,882 5,320
Additions - 1,010 1,010
Disposals (1,032 ) - (1,032 )
At 31 December 2024 1,406 3,892 5,298
DEPRECIATION
At 1 January 2024 853 1,521 2,374
Charge for year 470 1,011 1,481
Eliminated on disposal (550 ) - (550 )
At 31 December 2024 773 2,532 3,305
NET BOOK VALUE
At 31 December 2024 633 1,360 1,993
At 31 December 2023 1,585 1,361 2,946

BSL-IT South Limited (Registered number: 13578902)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 406,999 292,012
Other debtors 600 3,750
Prepayments and accrued income 4,495 -
412,094 295,762

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 123,715 89,820
Tax 11,147 24,432
Social security and other taxes 15,211 12,348
VAT 45,220 51,885
Other creditors - (623 )
Pensions Payable 880 992
PULSE Factoring Account 144,115 82,667
Accruals and deferred income 29,735 5,100
Accrued expenses 31,310 54,856
401,333 321,477

7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.


We draw attention to Note 1 of the financial statements, which explains that subsequent to the year end, the directors resolved to cease trading and close the company. As stated in the note, the financial statements have been prepared on a going concern basis as no adjustments would be required under a non-going concern basis. Our opinion is not modified in respect of this matter.

Phillip Harris BA FCA (Senior Statutory Auditor)
for and on behalf of Harris & Co (Accountants) Ltd, Statutory Auditor

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is BSL IT Limited.