Registered number
09489631
BIM Quantities Limited
Filleted Accounts
31 March 2023
BIM Quantities Limited
Registered number: 09489631
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 190 142
Current assets
Stocks 1,500 1,500
Debtors 4 14,367 28,467
Cash at bank and in hand 26,337 13,272
42,204 43,239
Creditors: amounts falling due within one year 5 (41,235) (54,211)
Net current assets/(liabilities) 969 (10,972)
Total assets less current liabilities 1,159 (10,830)
Creditors: amounts falling due after more than one year 6 (42,903) (51,531)
Provisions for liabilities (37) (301)
Net liabilities (41,781) (62,662)
Capital and reserves
Called up share capital 100 100
Profit and loss account (41,881) (62,762)
Shareholders' funds (41,781) (62,662)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr V Hughes
Director
Approved by the board on 18 July 2023
BIM Quantities Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computer equipment over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Work in progress is valued at the lower of cost and net realisable value. Costs include all direct expenditure and an appropriate proportion of fixed and variable overheads.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 4 5
3 Tangible fixed assets
Fixtures and Fittings Computer and Office equipment Total
£ £ £
Cost
At 1 April 2022 845 3,820 4,665
Disposals - (3,820) (3,820)
At 31 March 2023 845 - 845
Depreciation
At 1 April 2022 524 3,999 4,523
Charge for the year 131 - 131
On disposals - (3,999) (3,999)
At 31 March 2023 655 - 655
Net book value
At 31 March 2023 190 - 190
At 31 March 2022 321 (179) 142
4 Debtors 2023 2022
£ £
Trade debtors 6,000 27,300
Loan to related party 5,182 (2,018)
Prepayments 3,185 3,185
14,367 28,467
The loan to a related party is non-interest bearing and repayable on demand.
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans 6,328 -
Obligations under finance lease and hire purchase contracts 909 909
Trade creditors 8,736 6,073
Directors account 1,702 14,202
Taxation and social security costs 21,492 16,686
Other creditors 2,068 16,341
41,235 54,211
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 42,191 50,635
Obligations under finance lease and hire purchase contracts 712 896
42,903 51,531
7 Other information
BIM Quantities Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit A Farriers Courtyard
Speldmonden Road
Goudhurst
Kent
TN17 1HE
BIM Quantities Limited 09489631 false 2022-04-01 2023-03-31 2023-03-31 VT Final Accounts April 2022 Mr V Hughes No description of principal activity 09489631 2021-04-01 2022-03-31 09489631 core:WithinOneYear 2022-03-31 09489631 core:AfterOneYear 2022-03-31 09489631 core:ShareCapital 2022-03-31 09489631 core:RetainedEarningsAccumulatedLosses 2022-03-31 09489631 2022-04-01 2023-03-31 09489631 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 09489631 bus:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 09489631 bus:Director40 2022-04-01 2023-03-31 09489631 1 2022-04-01 2023-03-31 09489631 2 2022-04-01 2023-03-31 09489631 core:LandBuildings 2022-04-01 2023-03-31 09489631 core:PlantMachinery 2022-04-01 2023-03-31 09489631 countries:England 2022-04-01 2023-03-31 09489631 bus:FRS102 2022-04-01 2023-03-31 09489631 bus:FullAccounts 2022-04-01 2023-03-31 09489631 2023-03-31 09489631 core:WithinOneYear 2023-03-31 09489631 core:AfterOneYear 2023-03-31 09489631 core:ShareCapital 2023-03-31 09489631 core:RetainedEarningsAccumulatedLosses 2023-03-31 09489631 core:LandBuildings 2023-03-31 09489631 core:PlantMachinery 2023-03-31 09489631 2022-03-31 09489631 core:LandBuildings 2022-03-31 09489631 core:PlantMachinery 2022-03-31 iso4217:GBP xbrli:pure