Registered number
03138905
B.M. Injection Limited
Filleted Accounts
31 October 2023
B.M. Injection Limited
Registered number: 03138905
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 866,771 841,734
Investments 4 471,261 447,811
1,338,032 1,289,545
Current assets
Stocks and work in progress 359,264 423,764
Debtors 5 618,397 640,804
Cash at bank and in hand 289,696 227,313
1,267,357 1,291,881
Creditors: amounts falling due within one year 6 (463,664) (513,979)
Net current assets 803,693 777,902
Total assets less current liabilities 2,141,725 2,067,447
Creditors: amounts falling due after more than one year 7 (190,097) (160,357)
Net assets 1,951,628 1,907,090
Capital and reserves
Called up share capital 100 100
Profit and loss account 1,951,528 1,906,990
Shareholders' funds 1,951,628 1,907,090
The director is 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 director acknowledges his 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.
M Combes
Director
Approved by the board on 30 July 2024
B.M. Injection Limited
Notes to the Accounts
for the year ended 31 October 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:
Motor vehicles 25% reducing balance
Plant and machinery 15% reducing balance
Fixtures, fittings, tools and equipment 25% reducing balance
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
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 32 43
3 Tangible fixed assets
Fixtures and fittings Plant and machinery Motor vehicles Total
£ £ £ £
Cost
At 1 November 2022 70,056 1,901,226 25,456 1,996,738
Additions - 180,045 - 180,045
Disposals (2,923) (12,027) - (14,950)
At 31 October 2023 67,133 2,069,244 25,456 2,161,833
Depreciation
At 1 November 2022 58,340 1,076,903 19,761 1,155,004
Charge for the year 2,929 150,655 1,424 155,008
On disposals (2,923) (12,027) - (14,950)
At 31 October 2023 58,346 1,215,531 21,185 1,295,062
Net book value
At 31 October 2023 8,787 853,713 4,271 866,771
At 31 October 2022 11,716 824,323 5,695 841,734
4 Investments
Other
investments
£
Cost
At 1 November 2022 447,811
Additions 23,450
At 31 October 2023 471,261
5 Debtors 2023 2022
£ £
Trade debtors 468,104 484,533
Intercompany account - -
Other debtors 150,293 156,271
618,397 640,804
6 Creditors: amounts falling due within one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 71,227 70,516
Trade creditors 252,934 257,070
Directors loan account 2,130 2,168
Taxation and social security costs 20,978 35,738
Value Added Tax 76,166 55,726
Other creditors 40,229 92,761
463,664 513,979
7 Creditors: amounts falling due after one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 178,986 141,552
Other creditors 11,111 18,805
190,097 160,357
8 Other information
B.M. Injection Limited is a private company limited by shares and incorporated in England.
Unit A7
Pegasus Court
Ardglen Road
Hampshire
RG28 7BP
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