Registration number: 07871791
BCU UK Trust LTD
Annual Report and Unaudited Financial Statements
for the Year Ended 31 December 2022
Mr Satraj Suman ACMA 21 Babors Field Bilston Wolverhampton West Midlands WV14 9XS
BCU UK Trust LTD
Contents
| Company Information | 1 |
|---|---|
| Directors' Report | 2 |
| Accountants' Report | 3 |
| Profit and Loss Account | 4 |
| Statement of Comprehensive Income | 5 |
| Balance Sheet | 6 |
| Statement of Changes in Equity | 7 |
| Notes to the Unaudited Financial Statements | 8 to 11 |
| iXBRL Detailed Profit and Loss Account | 12 |
BCU UK Trust LTD
Company Information
Directors
Mr Vijay Kumar Mr Paul Nugent Mr Dimitrios Kamsaris Mrs Veena Kumar
Registered office 21 Babors Field Bilston Wolverhampton West Midlands WV14 9XS Accountants Mr Satraj Suman ACMA 21 Babors Field Bilston Wolverhampton West Midlands WV14 9XS
Page 1
BCU UK Trust LTD
Directors' Report for the Year Ended 31 December 2022
The directors present their report and the financial statements for the year ended 31 December 2022.
Directors of the company
The directors who held office during the year were as follows:
Mr Vijay Kumar
Mr Dimitrios Kamsaris
Mrs Veena Kumar
The following director was appointed after the year end:
Mr Paul Nugent (appointed 5 June 2023)
Principal activity
The principal activity of the company is Education
Small companies provision statement
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved and authorised by the Board on 31 October 2023 and signed on its behalf by:
......................................... Mr Vijay Kumar Director
Page 2
Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of BCU UK Trust LTD for the Year Ended 31 December 2022
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of BCU UK Trust LTD for the year ended 31 December 2022 as set out on pages 4 to 11 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Institute of Management Accountants (CIMA), we are subject to its ethical and other professional requirements which are detailed at http://www.cimaglobal.com/Professionalism/Ethics/
This report is made solely to the Board of Directors of BCU UK Trust LTD, as a body, in accordance with the terms of our engagement letter dated 29 November 2016. Our work has been undertaken solely to prepare for your approval the accounts of BCU UK Trust LTD and state those matters that we have agreed to state to the Board of Directors of BCU UK Trust LTD, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than BCU UK Trust LTD and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that BCU UK Trust LTD has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of BCU UK Trust LTD. You consider that BCU UK Trust LTD is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of BCU UK Trust LTD. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
......................................
Mr Satraj Suman ACMA 21 Babors Field Bilston Wolverhampton West Midlands WV14 9XS 31 October 2023
Page 3
BCU UK Trust LTD
Profit and Loss Account for the Year Ended 31 December 2022
| Note Turnover Cost of sales Gross profit Administrative expenses Other operating income Operating profit Profit before tax 4 Profit for the financial year The above results were derived from continuing operations. |
2022 £ 126,498 (26,325) 100,173 (89,962) 1,343 11,554 11,554 11,554 |
2021 £ 106,697 (24,678) |
|---|---|---|
| 82,019 (81,840) 1,110 |
||
| 1,289 | ||
| 1,289 | ||
| 1,289 | ||
The company has no recognised gains or losses for the year other than the results above.
The notes on pages 8 to 11 form an integral part of these financial statements. Page 4
BCU UK Trust LTD
Statement of Comprehensive Income for the Year Ended 31 December 2022
| Profit for the year Total comprehensive income for the year |
2022 £ 11,554 11,554 |
2021 £ 1,289 |
|---|---|---|
| 1,289 |
The notes on pages 8 to 11 form an integral part of these financial statements. Page 5
BCU UK Trust LTD
(Registration number: 07871791) Balance Sheet as at 31 December 2022
| Note Fixed assets Tangible assets 5 Current assets Debtors 6 Cash at bank and in hand Total assets less current liabilities Creditors: Amounts falling due after more than one year 7 Net assets Capital and reserves Called up share capital 8 Retained earnings Shareholders' funds |
2022 £ 34,730 179,553 750 180,303 215,033 (82,253) 132,780 10 132,770 132,780 |
2021 £ 35,229 174,155 306 |
|---|---|---|
| 174,461 | ||
| 209,690 (88,464) |
||
| 121,226 | ||
| 10 121,216 |
||
| 121,226 |
For the financial year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved and authorised by the Board on 31 October 2023 and signed on its behalf by:
......................................... Mr Vijay Kumar Director
The notes on pages 8 to 11 form an integral part of these financial statements. Page 6
BCU UK Trust LTD
Statement of Changes in Equity for the Year Ended 31 December 2022
| At 1 January 2022 Profit for the year At 31 December 2022 At 1 January 2021 Profit for the year At 31 December 2021 |
Share capital £ 10 - 10 Share capital £ 10 - 10 |
Retained earnings £ 121,216 11,554 132,770 Retained earnings £ 119,927 1,289 121,216 |
Total £ 121,226 |
|---|---|---|---|
| 11,554 | |||
| 132,780 | |||
| Total £ 119,937 |
|||
| 1,289 | |||
| 121,226 |
The notes on pages 8 to 11 form an integral part of these financial statements. Page 7
BCU UK Trust LTD
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022
1 General information
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is: 21 Babors Field Bilston Wolverhampton West Midlands WV14 9XS England
These financial statements were authorised for issue by the Board on 31 October 2023.
2 Accounting policies
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The financial statements have been prepared on a going concern basis.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Page 8
BCU UK Trust LTD
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class Depreciation method and rate Furniture and Fittings 20% Reducing Balance Land and Buildings 0% Reducing Balance
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
3 Staff numbers
The average number of persons employed by the company (including directors) during the year, was 0 (2021 - 1).
4 Profit before tax
Arrived at after charging/(crediting)
Depreciation expense
| 2022 | 2021 |
|---|---|
| £ | £ |
| 499 | 624 |
Page 9
BCU UK Trust LTD
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022
5 Tangible assets
| Cost or valuation At 1 January 2022 At 31 December 2022 Depreciation At 1 January 2022 Charge for the year At 31 December 2022 Carrying amount At 31 December 2022 At 31 December 2021 |
Land and buildings £ 32,733 32,733 - - - 32,733 32,733 |
Furniture, fittings and equipment £ 3,900 3,900 1,404 499 1,903 1,997 2,496 |
Total £ 36,633 |
|---|---|---|---|
| 36,633 | |||
| 1,404 499 |
|||
| 1,903 | |||
| 34,730 | |||
| 35,229 |
Included within the net book value of land and buildings above is £32,733 (2021 - £32,733) in respect of freehold land and buildings.
6 Debtors
| Current Trade debtors Other debtors |
2022 £ 62,392 117,161 179,553 |
2021 £ 47,392 126,763 |
|---|---|---|
| 174,155 |
Page 10
BCU UK Trust LTD
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022
7 Creditors
Creditors: amounts falling due after more than one year
| Note Due after one year Loans and borrowings 9 8 Share capital Allotted, called up and fully paid shares 2022 No. £ Ordinary Shares of £1 each 10 10 9 Loans and borrowings Non-current loans and borrowings Bank borrowings |
2022 £ 2021 £ 82,253 88,464 2021 No. £ 10 10 2022 £ 2021 £ 82,253 88,464 |
2021 £ 88,464 |
|---|---|---|
10 Ultimate Controlling Party
The company is a company limited by guarantee and became registered as a charity with charity registration number 1159500.
Page 11
BCU UK Trust LTD
iXBRL Detailed Profit and Loss Account for the Year Ended 31 December 2022
| Turnover/revenue Purchase of raw materials and consumables Vehicle costs Subcontractor costs Gross profit Distribution costs Administrative expenses Audit and accountancy other services Rent, rates and services costs Utilities costs Other repairs and maintenance costs Depreciation of property, plant and equipment Legal and professional costs Bank charges Insurance costs Telecommunications Other costs Other operating income Other operating income Other items Profit for the financial year |
2022 £ 126,498 (15,424) (181) (10,720) 100,173 (741) (24,170) (1,923) (24,853) (499) (31,792) (89) (5,289) (586) (20) 1,343 11,554 |
2021 £ 106,697 (14,180) (90) (10,408) |
|---|---|---|
| 82,019 (720) (21,618) (1,509) (22,228) (624) (32,076) (61) (2,605) (390) (9) 1,110 |
||
| 1,289 |
This page does not form part of the statutory financial statements. Page 12