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REGISTERED NUMBER: 07572701 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

BIMAL ENTERPRISE LIMITED

BIMAL ENTERPRISE LIMITED (REGISTERED NUMBER: 07572701)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 July 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


BIMAL ENTERPRISE LIMITED

COMPANY INFORMATION
for the year ended 31 July 2023







DIRECTORS: Mrs S B Pala
Mr B B Pala





SECRETARY: Mr B B Pala





REGISTERED OFFICE: Unit 2
Charnwood Edge Business Park
Leicester
LE7 4UZ





REGISTERED NUMBER: 07572701 (England and Wales)





ACCOUNTANTS: Magma Audit LLP
Unit 2 Charnwood Edge Business Park
Syston Road, Leicester
LE7 4UZ
Magma Audit LLP is part
Of the Dains Group

BIMAL ENTERPRISE LIMITED (REGISTERED NUMBER: 07572701)

BALANCE SHEET
31 July 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 14,844 19,792

CURRENT ASSETS
Stocks 718,536 683,536
Debtors 5 90,475 8,330
Cash at bank and in hand 30,878 7,473
839,889 699,339
CREDITORS
Amounts falling due within one year 6 (582,137 ) (547,422 )
NET CURRENT ASSETS 257,752 151,917
TOTAL ASSETS LESS CURRENT
LIABILITIES

272,596

171,709

PROVISIONS FOR LIABILITIES (3,500 ) (2,450 )
NET ASSETS 269,096 169,259

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 269,094 169,257
269,096 169,259

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

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

The directors acknowledge their 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 Board of Directors and authorised for issue on 30 July 2024 and were signed on its behalf by:




Mrs S B Pala - Director



Mr B B Pala - Director


BIMAL ENTERPRISE LIMITED (REGISTERED NUMBER: 07572701)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 July 2023


1. STATUTORY INFORMATION

Bimal Enterprise 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 currency of the financial statements is the Pound Sterling (£).

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.

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover
Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of goods
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods) , the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- the amount of revenue can be measured reliably;
- it is probable that the company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the cost incurred and the costs to complete the contract can be measured reliably

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 etc - 25% on reducing balance

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


BIMAL ENTERPRISE LIMITED (REGISTERED NUMBER: 07572701)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 July 2023


2. ACCOUNTING POLICIES - continued
Taxation
The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit or loss except that a change attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Both current and deferred tax is determined using 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.

Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 11 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 August 2022
and 31 July 2023 56,519
DEPRECIATION
At 1 August 2022 36,727
Charge for year 4,948
At 31 July 2023 41,675
NET BOOK VALUE
At 31 July 2023 14,844
At 31 July 2022 19,792

BIMAL ENTERPRISE LIMITED (REGISTERED NUMBER: 07572701)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 July 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 74,800 1,130
Prepayments and accrued income 15,675 7,200
90,475 8,330

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 70,264 173,791
Trade creditors 297,289 185,290
Tax 25,171 -
Social security and other taxes 1,011 1,250
VAT 7,628 5,172
Other creditors 180,774 181,919
582,137 547,422