Company registration number 13180124 (England and Wales)
BM3 GROUP LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
BM3 GROUP LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
BM3 GROUP LIMITED
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investments
3
201,806
201,806
Current assets
Debtors
4
82,910
29,310
Cash at bank and in hand
3,786
1,526
86,696
30,836
Creditors: amounts falling due within one year
5
(254,233)
(242,769)
Net current liabilities
(167,537)
(211,933)
Net assets/(liabilities)
34,269
(10,127)
Capital and reserves
Called up share capital
6
900
825
Share premium account
7
29,925
Profit and loss reserves
7
3,444
(10,952)
Total equity
34,269
(10,127)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 9 October 2023 and are signed on its behalf by:
Mr N Walker
Director
Company Registration No. 13180124
BM3 GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 2 -
1
Accounting policies
Company information
BM3 Group Limited is a private company, limited by shares, incorporated in England and Wales. The registered office is 28 Pickford Street, Birmingham, West Midlands, B5 5QH. The company registration number is 13180124.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
1.3
Cash and cash equivalents
Cash and cash equivalents are basic financial assets which include cash in hand and deposits held at call with banks.
1.4
Financial instruments
Basic financial assets
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.
Basic financial liabilities
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest method. Loans and borrowings that are receivable within one year are not discounted. If an arrangement constitutes a finance transaction it is measured at present value of future payments discounted at a market rate of interest for a similar loan.
1.5
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.6
Exemption from producing consolidated financial statements
The Company and its subsidiaries qualify as small as set out in section 383 of the Companies Act 2006 and are therefore considered eligible for the exemption to prepare consolidated accounts.
BM3 GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was: 6 (2022 - 6)
3
Fixed asset investments
2023
2022
£
£
Shares in group undertakings
201,806
201,806
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
82,591
28,991
Other debtors
319
319
82,910
29,310
5
Creditors: amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings
254,233
192,769
Other creditors
50,000
254,233
242,769
6
Called up share capital
2023
2022
Ordinary share capital
£
£
Issued and fully paid
90,000 (2022 - 82,500) Ordinary shares of £0.01 each
900
825
On 14 July 2022, the Company allotted 3,750 Ordinary shares of £0.01p each in the capital of the Company up to an aggregate nominal amount of £37.50.
On 1 November 2022, the Company allotted 3,750 Ordinary shares of £0.01p each in the capital of the Company up to an aggregate nominal amount of £37.50.
BM3 GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 4 -
7
Reserves
Share premium
This reserve records the amount above nominal value received for the shares issued in the capital of the Company.
Profit and loss reserves
This reserve records all current and prior period retained profits and losses.
8
Financial commitments, guarantees and contingent liabilities
A group VAT registration is in force. The company is jointly and severally liable for the amount owed by BM3 Birmingham Limited, BM3 Architecture Limited, BM3 Services Limited and BM3 London Limited. At the balance sheet date, this amounted to £205,615 (2022: £163,366). VAT is up to date and has been paid post year end.
9
Related party transactions
The Company has taken advantage of exemption, under the terms of the Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland", not to disclose related party transactions with wholly owned subsidiaries within the group.