REGISTERED NUMBER: 10707407 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

BFN Accounts & Tax Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

C J French

P Nichols

A G Baldock

REGISTERED OFFICE:

Hillcrest

22 Church Street

Blakesley

Towcester

Northamptonshire

NN12 8RA

REGISTERED NUMBER:

10707407 (England and Wales)

ACCOUNTANT:

BFN Accounts & Tax Limited

Hillcrest

22 Church Street

Blakesley

Towcester

NN12 8RA

FIXED ASSETS

Intangible assets

4

29,167

-

Tangible assets

5

3,782

1,419

32,949

1,419

CURRENT ASSETS

Debtors

6

76,392

9,197

Cash at bank

871

122

77,263

9,319

CREDITORS

Amounts falling due within one year

7

163,433

49,053

NET CURRENT LIABILITIES

(86,170

)

(39,734

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(53,221

)

(38,315

)

CAPITAL AND RESERVES

Called up share capital

8

180

100

Retained earnings

(53,401

)

(38,415

)

SHAREHOLDERS' FUNDS

(53,221

)

(38,315

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 16 December 2025 and were signed on its behalf by:

P Nichols - Director

1.	STATUTORY INFORMATION

BFN Accounts & Tax 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

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2024, is being amortised evenly over its estimated useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Office equipment

-

25% on reducing balance

Computer equipment

-

33% on cost

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.

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.

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.

Going concern

The directors have assessed the Company's ability to meet the day to day working capital requirements for a period of not less than 12 months, as a result of the directors assessment the Company is considered a going concern and the accounts have been prepared on this basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2024 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

Additions

34,000

At 31 March 2025

34,000

AMORTISATION

Charge for year

4,833

At 31 March 2025

4,833

NET BOOK VALUE

At 31 March 2025

29,167

5.	TANGIBLE FIXED ASSETS

Office

Computer

equipment

equipment

Totals

£

£

£

COST

At 1 April 2024

-

3,448

3,448

Additions

1,080

2,535

3,615

At 31 March 2025

1,080

5,983

7,063

DEPRECIATION

At 1 April 2024

-

2,029

2,029

Charge for year

180

1,072

1,252

At 31 March 2025

180

3,101

3,281

NET BOOK VALUE

At 31 March 2025

900

2,882

3,782

At 31 March 2024

-

1,419

1,419

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

59,687

-

Other debtors

-

9,000

Directors' current accounts

474

-

VAT

-

197

Prepayments and accrued income

16,231

-

76,392

9,197

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Other loans

27,931

-

Trade creditors

2,751

94

Social security and other taxes

4,489

-

VAT

19,403

-

Other creditors

59,394

34,394

Wages control

6,068

-

Pensions payable

5,483

-

Directors' current accounts

37,914

14,565

163,433

49,053

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

£

180

Ordinary

£1

180

100

80 Ordinary shares of £1 each were allotted and fully paid for cash at par during the year.

9.	RELATED PARTY DISCLOSURES

At the balance sheet date Mrs K A Nichols (Former Director and wife of current Director Mr P Nichols) was owed £34,394 (2024: £34,394) in respect of a loan made to the company. This amount is included within Other Creditors. This amount is repayable on demand and interest free.