Company registration number 10349058 (England and Wales)
BCO ENTERPRISES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
BCO ENTERPRISES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 9
BCO ENTERPRISES LIMITED
BALANCE SHEET
AS AT
30 MARCH 2024
30 March 2024
- 1 -
30 March 2024
31 March 2023
as restated
Notes
£
£
£
£
Fixed assets
Tangible assets
4
464,675
457,945
Current assets
Debtors
5
63,721
43,828
Cash at bank and in hand
46,088
27,497
109,809
71,325
Creditors: amounts falling due within one year
6
(29,059)
(61,308)
Net current assets
80,750
10,017
Total assets less current liabilities
545,425
467,962
Creditors: amounts falling due after more than one year
7
(247,706)
(304,512)
Provisions for liabilities
(2,815)
(2,815)
Net assets
294,904
160,635
Capital and reserves
Called up share capital
1
1
Revaluation reserve
8
25,948
25,948
Profit and loss reserves
268,955
134,686
Total equity
294,904
160,635
BCO ENTERPRISES LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 MARCH 2024
30 March 2024
- 2 -

For the financial period ended 30 March 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 period 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 13 August 2025
Mr Benjamin Cohen
Director
Company registration number 10349058 (England and Wales)
BCO ENTERPRISES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 MARCH 2024
- 3 -
1
Accounting policies
Company information

BCO Enterprises Limited is a private company limited by shares incorporated in England and Wales. The registered office is 182a Manford Way, Chigwell, Essex, IG7 4DG.

1.1
Reporting period

The accounting reference date for the current period is 30 March 2024, however, the accounts were prepared for the period 1 April 2023 to 31 March 2024 as such, despite the change in accounting reference date, the financial information disclosed represents a 365 day period. Therefore, the financial information presented for the period ended 30 March 2024 is comparable to the prior year.

1.2
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.

1.3
Going concern

Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.4
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.

The company recognises revenue from the following major sources:

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

Osteopathy Services

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.

BCO ENTERPRISES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
1.5
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:

Freehold land and buildings
2% straight line
Fixtures and fittings
25% reducing balance
Computers
25% 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.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.7
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.

1.8
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 balance sheet 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.

BCO ENTERPRISES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 MARCH 2024
1
Accounting policies
(Continued)
- 5 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.9
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.

1.10
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.

BCO ENTERPRISES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 MARCH 2024
1
Accounting policies
(Continued)
- 6 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.11
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.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

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

2024
2023
Number
Number
Total
1
1
BCO ENTERPRISES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 MARCH 2024
- 7 -
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 April 2023
453,226
13,636
466,862
Additions
-
0
9,297
9,297
At 30 March 2024
453,226
22,933
476,159
Depreciation and impairment
At 1 April 2023
-
0
8,917
8,917
Depreciation charged in the period
-
0
2,567
2,567
At 30 March 2024
-
0
11,484
11,484
Carrying amount
At 30 March 2024
453,226
11,449
464,675
At 31 March 2023
453,226
4,719
457,945
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Corporation tax recoverable
387
-
0
Other debtors
63,334
43,828
63,721
43,828
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
24,917
20,080
Corporation tax
-
0
19,734
Other taxation and social security
2,372
1,467
Other creditors
1,770
20,027
29,059
61,308
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
247,706
304,512
BCO ENTERPRISES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 MARCH 2024
7
Creditors: amounts falling due after more than one year
(Continued)
- 8 -

The bank loan is secured by a fixed charge and a floating charge over the company’s freehold property.

8
Revaluation reserve
2024
2023
£
£
At the beginning of the period
-
11,131
Prior year adjustment
25,948
-
0
As restated
25,948
11,131
Revaluation surplus arising in the period
-
0
14,817
At the end of the period
25,948
25,948
9
Directors' transactions

The directors loan detailed below is interest free with no fixed date of repayment.

Description
% Rate
Opening balance
Amounts advanced
Closing balance
£
£
£
Overdrawn Directors loan account
-
42,935
19,506
62,441
42,935
19,506
62,441
10
Prior period adjustment
Reconciliation of changes in equity
1 April
31 March
2022
2023
Notes
£
£
Adjustments to prior period
Remove share of profits from BCO Enterprises Partenrship LLP
1
-
(98,213)
Fair gain on property adjustment
2
-
-
Equity as previously reported
166,291
258,848
Equity as adjusted
166,291
160,635
Analysis of the effect upon equity
Revaluation reserve
-
25,948
Own  shares reserve
-
(11,131)
Profit and loss reserves
-
(113,030)
-
(98,213)
BCO ENTERPRISES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 MARCH 2024
10
Prior period adjustment
(Continued)
- 9 -
Reconciliation of changes in profit for the previous financial period
2023
Notes
£
Adjustments to prior period
Remove share of profits from BCO Enterprises Partenrship LLP
1
(28,773)
Fair gain on property adjustment
2
(14,817)
Total adjustments
(43,590)
Profit as previously reported
94,557
Profit as adjusted
50,967
Notes to reconciliation
Share of profits from LLP

During the year, management identified that the share of LLP profits previously recognised in the financial statements did not meet the recognition criteria prescribed by FRS102. The amount had been included in other operating income in error in the past and had resulted in a debtor.

 

In accordance with FRS 102 Section 10 Accounting Policies, Estimates and Errors, the prior year figures have been restated to remove the LLP profit share from income and the corresponding debtor balance from the balance sheet.

 

The effect of this adjustment on the prior year comparatives is as follows:

Fair gain on property adjustment

During the financial year, management identified that a freehold property was previously classified as investment property in the financial statements. The property was in fact owner-occupied and should have been accounted for as property, plant and equipment (PPE) under FRS 102 Section 17.

 

Under the investment property accounting policy applied in the prior year, the property was measured at fair value with a gain on revaluation of £14,817 recognised in profit or loss.

 

In accordance with FRS 102 Section 10 Accounting Policies, Estimates and Errors, the prior year figures have been restated to reflect the correct classification and presentation. The revaluation gain previously recognised in profit or loss has been removed from that statement now with a corresponding credit to the revaluation reserve.

 

The effect of this adjustment on the prior year comparatives is as follows:

 

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