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REGISTERED NUMBER: SC449143 (Scotland)















Unaudited Financial Statements

for the Year Ended 31 May 2023

for

BSM Associates Ltd

BSM Associates Ltd (Registered number: SC449143)






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BSM Associates Ltd

Company Information
for the Year Ended 31 May 2023







DIRECTOR: Mr B G Murison





REGISTERED OFFICE: 4a Urquhart Road
St. Fergus
Peterhead
Aberdeenshire
AB42 3HT





REGISTERED NUMBER: SC449143 (Scotland)





ACCOUNTANTS: SBP
Accountants
2 Cross Street
Fraserburgh
Aberdeenshire
AB43 9EQ

BSM Associates Ltd (Registered number: SC449143)

Balance Sheet
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 98 300

CURRENT ASSETS
Stocks 9,670 -
Debtors 5 287 21,545
Cash at bank 26,359 16,947
36,316 38,492
CREDITORS
Amounts falling due within one year 6 24,249 36,999
NET CURRENT ASSETS 12,067 1,493
TOTAL ASSETS LESS CURRENT
LIABILITIES

12,165

1,793

PROVISIONS FOR LIABILITIES 19 57
NET ASSETS 12,146 1,736

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 12,046 1,636
SHAREHOLDERS' FUNDS 12,146 1,736

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

BSM Associates Ltd (Registered number: SC449143)

Balance Sheet - continued
31 May 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 6 November 2023 and were signed by:





Mr B G Murison - Director


BSM Associates Ltd (Registered number: SC449143)

Notes to the Financial Statements
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

BSM Associates Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents amounts receivable for services provided in the normal course of business, net of discounts and VAT. Revenue is recognised to the extent that it is probable that economic benefit will flow to the company and when its value can be measured with a sufficient degree of certainty and reliability. All income is recognised in the accounting period to which it relates.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost

Tangible fixed assets are included at cost less depreciation and impairment. The residual value is reassessed at the end of each accounting period.

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 tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

BSM Associates Ltd (Registered number: SC449143)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 June 2022
and 31 May 2023 1,253
DEPRECIATION
At 1 June 2022 953
Charge for year 202
At 31 May 2023 1,155
NET BOOK VALUE
At 31 May 2023 98
At 31 May 2022 300

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors - 21,248
Prepayments 287 297
287 21,545

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Tax 15,916 14,810
Social security and other taxes 155 -
VAT 5,420 4,682
Directors' current accounts 1,472 16,283
Accrued expenses 1,286 1,224
24,249 36,999

7. RELATED PARTY DISCLOSURES

The director operates a current account with the company and as at 31st May 2023 the balance owing to him was £1,472 (2022: £16,283). There are no specific terms of repayment and no interest is accrued.

8. ULTIMATE CONTROLLING PARTY

The controlling parties are are Mr & Mrs Murison