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REGISTERED NUMBER: 10008033 (England and Wales)















Unaudited Financial Statements for the Year Ended 28 February 2023

for

BMF Developments Limited

BMF Developments Limited (Registered number: 10008033)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BMF Developments Limited

Company Information
for the Year Ended 28 February 2023







DIRECTOR: Mrs R M Berry





REGISTERED OFFICE: Marland House
13 Huddersfield Road
Barnsley
South Yorkshire
S70 2LW





REGISTERED NUMBER: 10008033 (England and Wales)





ACCOUNTANTS: Harris & Co Limited
Chartered Accountants
Marland House
13 Huddersfield Road
Barnsley
South Yorkshire
S70 2LW

BMF Developments Limited (Registered number: 10008033)

Balance Sheet
28 February 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 5 17,935 22,301
Investment property 6 163,156 138,194
181,091 160,495

CURRENT ASSETS
Stocks 462,082 354,645
Debtors 7 3,515 4,112
Cash at bank 7,718 75,973
473,315 434,730
CREDITORS
Amounts falling due within one year 8 (465,450 ) (374,872 )
NET CURRENT ASSETS 7,865 59,858
TOTAL ASSETS LESS CURRENT
LIABILITIES

188,956

220,353

CREDITORS
Amounts falling due after more than one
year

9

(30,000

)

(39,167

)

PROVISIONS FOR LIABILITIES (3,408 ) (4,237 )
NET ASSETS 155,548 176,949

CAPITAL AND RESERVES
Called up share capital 11 5 5
Retained earnings 155,543 176,944
SHAREHOLDERS' FUNDS 155,548 176,949

BMF Developments Limited (Registered number: 10008033)

Balance Sheet - continued
28 February 2023


The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the Company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 July 2023 and were signed by:





Mrs R M Berry - Director


BMF Developments Limited (Registered number: 10008033)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

BMF Developments 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.

The presentation and functional currency of the financial statements is the Pound Sterling (£).

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value.

Significant judgements and estimates
The principal accounting policies and significant judgements and estimates applied in the preparation of these financial statements are set out below. These policies, judgements and estimates have been consistently applied to all years presented unless otherwise stated.

Turnover
Turnover represents amounts earned on goods and services provided during the year and derives from the provision of goods and services falling within the company's ordinary activities.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance

All fixed assets are initially recorded at cost.

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.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


BMF Developments Limited (Registered number: 10008033)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

3. ACCOUNTING POLICIES - continued
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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2022
and 28 February 2023 47,859
DEPRECIATION
At 1 March 2022 25,558
Charge for year 4,366
At 28 February 2023 29,924
NET BOOK VALUE
At 28 February 2023 17,935
At 28 February 2022 22,301

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2022 138,194
Additions 24,962
At 28 February 2023 163,156
NET BOOK VALUE
At 28 February 2023 163,156
At 28 February 2022 138,194

The director considers that the investment property is held at fair value at the balance sheet date.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 3,515 4,112

BMF Developments Limited (Registered number: 10008033)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts - 829
Trade creditors 211 1,029
Taxation and social security 10,313 25,751
Other creditors 444,926 337,263
465,450 374,872

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 30,000 39,167

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Other loans 120,000 -
Hire purchase contracts - 829
120,000 829

The hire purchase creditor is secured against the asset to which it relates.

The other loans are secured by fixed and floating charges over all assets of the company.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
5 Ordinary £1 5 5

12. RELATED PARTY DISCLOSURES

At the year end the director was owed £317,426 (2022: £329,764) by the company.