Company registration number SC513253 (Scotland)
B1B ENTERPRISES LIMITED
(FORMERLY BIB'LL FIX IT LIMITED)
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
B1B ENTERPRISES LIMITED
(FORMERLY BIB'LL FIX IT LIMITED)
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
B1B ENTERPRISES LIMITED
(FORMERLY BIB'LL FIX IT LIMITED)
BALANCE SHEET
AS AT 31 AUGUST 2024
31 August 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
8,375
10,469
Current assets
Stocks
1,250
1,374
Debtors
4
227
326
Cash at bank and in hand
1,533
3,010
1,700
Creditors: amounts falling due within one year
5
(6,554)
(20,076)
Net current liabilities
(3,544)
(18,376)
Net assets/(liabilities)
4,831
(7,907)
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
4,830
(7,908)
Total equity
4,831
(7,907)
For the financial year ended 31 August 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 of its financial statements for the year in question in accordance with section 476.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved and signed by the director and authorised for issue on 27 May 2025
Mr G Serex
Director
Company registration number SC513253 (Scotland)
B1B ENTERPRISES LIMITED
(FORMERLY BIB'LL FIX IT LIMITED)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
- 2 -
1
Accounting policies
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 £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Going concern
The financial statements have been prepared on a going concern basis. The validity of this basis relies on the continuing support of its creditors and director, who is also the controlling shareholder. The director has confirmed that this support will not be withdrawn for the foreseeable future, to allow the company to meet its liabilities as they fall due. The director therefore considers it appropriate that the financial statements are prepared on a going concern basis.true
1.3
Turnover
Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.
When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
20% Reducing Balance
Fixtures and fittings
20% Reducing Balance
Computers
20% Reducing Balance
Motor vehicles
20% Reducing Balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
B1B ENTERPRISES LIMITED
(FORMERLY BIB'LL FIX IT LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 3 -
1.6
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.7
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
1.8
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.9
Company information
B1B enterprises Limited is a private company limited by shares incorporated in Scotland. The registered office is Beech Cottage, The Wynd, Muthill, Crieff, PH5 2AP.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
1
1
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 September 2023 and 31 August 2024
17,787
Depreciation and impairment
At 1 September 2023
7,318
Depreciation charged in the year
2,094
At 31 August 2024
9,412
Carrying amount
At 31 August 2024
8,375
At 31 August 2023
10,469
B1B ENTERPRISES LIMITED
(FORMERLY BIB'LL FIX IT LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 4 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
227
326
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
4,416
Trade creditors
447
304
Other creditors
6,107
15,356
6,554
20,076