Company registration number 12972656 (England and Wales)
BSP (North West) Limited
Unaudited financial statements
For the year ended 28 February 2025
BSP (North West) Limited
Company information
Directors
Mr N G Byrom
Mr A J Slinn
Company number
12972656
Registered office
19 Meadowacre
Standish
Wigan
United Kingdom
WN6 0US
Accountants
DJH Bury Limited
The Exchange
5 Bank Street
Bury
Lancashire
BL9 0DN
BSP (North West) Limited
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 6
BSP (North West) Limited
Statement of financial position
As at 28 February 2025
28 February 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Investment property
4
345,009
229,650
Current assets
Debtors
5
1,426
2,190
Cash at bank and in hand
18,883
17,763
20,309
19,953
Creditors: amounts falling due within one year
6
(208,374)
(106,200)
Net current liabilities
(188,065)
(86,247)
Total assets less current liabilities
156,944
143,403
Creditors: amounts falling due after more than one year
7
(98,540)
(98,540)
Provisions for liabilities
(11,200)
(11,200)
Net assets
47,204
33,663
Capital and reserves
Called up share capital
100
100
Other reserves
33,601
33,601
Profit and loss reserves
13,503
(38)
Total equity
47,204
33,663
BSP (North West) Limited
Statement of financial position (continued)
As at 28 February 2025
28 February 2025
- 2 -

For the financial year ended 28 February 2025 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 directors acknowledge their 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 directors of the company have elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 10 July 2025 and are signed on its behalf by:
Mr A J Slinn
Director
Company registration number 12972656 (England and Wales)
BSP (North West) Limited
Notes to the financial statements
For the year ended 28 February 2025
- 3 -
1
Accounting policies
Company information

BSP (North West) Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 12972656 and its registered office address is 19 Meadowcare, Standish, Wigan, WN6 0US.

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. The principal accounting policies adopted are set out below.

1.2
Going concern

These financial statements are prepared on the going concern basis. The directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future. However, the directors are aware of certain material uncertainties which may cause doubt on the company's ability to continue as a going concern.

1.3
Turnover

Turnover comprises the aggregate of the fair value of the rental services provided. Revenue is recognised as those services are provided to the occupants of the property.

1.4
Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

1.5
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.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

BSP (North West) Limited
Notes to the financial statements (continued)
For the year ended 28 February 2025
1
Accounting policies
(Continued)
- 4 -
1.8
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

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

2
Judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, the directors are required to make estimates and judgements. The estimates are based on historical experience and other relevant factors. Actual results may differ from these estimates.

 

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Although these estimates are based on management's best knowledge of the amount, events or actions, actual results ultimately defer from those estimates.

 

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are outlined below:

 

Making a judgement as to the fair value of the investment property is considered key.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
2
2
BSP (North West) Limited
Notes to the financial statements (continued)
For the year ended 28 February 2025
- 5 -
4
Investment property
2025
£
Fair value
At 1 March 2024
229,650
Additions
115,359
At 28 February 2025
345,009

Investment properties have been valued by the director at an open market value as at the year end date.

 

The historic cost of investment properties is £279,904.

5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
-
0
850
Other debtors
1,426
1,340
1,426
2,190
6
Creditors: amounts falling due within one year
2025
2024
£
£
Amounts owed to related parties
30,480
28,800
Taxation and social security
214
-
0
Other creditors
177,680
77,400
208,374
106,200
7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
98,540
98,540
Creditors which fall due after five years are as follows:
2025
2024
£
£
Payable other than by instalments
98,540
98,540
BSP (North West) Limited
Notes to the financial statements (continued)
For the year ended 28 February 2025
- 6 -
8
Secured debts

Secured debts (Bank loans) £98,540 are included within creditors.

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