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Registration number: 08892534

Bim Design & Modelling Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 28 February 2022

 

Bim Design & Modelling Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Bim Design & Modelling Limited

Company Information

Director

Mr James Lawrence Bourke

Company secretary

Mrs Elaine Suzanne Bourke

Registered office

5 North Court
Armstrong Road
Maidstone
Kent
ME15 6JZ

Accountants

Stones Accountancy Limited
Chartered
5 North Court
Armstrong Road
Maidstone
Kent
ME15 6JZ

 

Bim Design & Modelling Limited

(Registration number: 08892534)
Balance Sheet as at 28 February 2022

Note

2022
£

2021
£

Current assets

 

Debtors

4

34,067

112,840

Cash at bank and in hand

 

24,198

13,259

 

58,265

126,099

Creditors: Amounts falling due within one year

5

(21,843)

(10,738)

Net assets

 

36,422

115,361

Capital and reserves

 

Called up share capital

6

100

1

Retained earnings

36,322

115,360

Shareholders' funds

 

36,422

115,361

For the financial year ending 28 February 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 4 September 2022
 

.........................................
Mr James Lawrence Bourke
Director

 

Bim Design & Modelling Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2022

1

General information

The company is a private company limited by share capital, incorporated in Other.

The address of its registered office is:
5 North Court
Armstrong Road
Maidstone
Kent
ME15 6JZ
United Kingdom

The principal place of business is:
Monks Ride
Boomrigg Road
Fleet
Hampshire
GU51 4LR
England

These financial statements were authorised for issue by the director on 4 September 2022.

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.

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.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Bim Design & Modelling Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2022

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Bim Design & Modelling Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2022

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2021 - 1).

4

Debtors

Current

2022
£

2021
£

Trade debtors

15,552

73,320

Other debtors

18,515

39,520

 

34,067

112,840

 

Bim Design & Modelling Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2022

5

Creditors

Creditors: amounts falling due within one year

Note

2022
£

2021
£

Due within one year

 

Loans and borrowings

7

-

10,000

Trade creditors

 

1,140

-

Taxation and social security

 

18,928

-

Accruals and deferred income

 

1,140

725

Other creditors

 

635

13

 

21,843

10,738

6

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary of £100 (2021 - £1) each

1

100

1

1

         

7

Loans and borrowings

2022
£

2021
£

Current loans and borrowings

Bank borrowings

-

10,000

8

Dividends

Interim dividends paid

   

2022
£

 

2021
£

Interim dividend of £500.00 (2021 - £Nil) per each Ordinary £1

 

50,000

 

-

         

9

Related party transactions

 

Bim Design & Modelling Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2022

Director's remuneration

The director's remuneration for the year was as follows:

2022
£

2021
£

Contributions paid to money purchase schemes

3,000

-