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Registration number: 09790038

BML Group Ltd

Unaudited Filleted Abridged Financial Statements

for the Year Ended 30 September 2023

 

BML Group Ltd

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 7

 

BML Group Ltd

Company Information

Directors

Mrs Batya Miriam Lobenstein

Mr Boruch Moishe Lobenstein

Registered office

Unit 9 The High Cross Center The High Cross Centre
Fountayne Road
London
N15 4BE

Accountants

Haffner Hoff Ltd
2nd Floor - Parkgates
Bury New Road
Prestwich
M25 0TL

 

BML Group Ltd

(Registration number: 09790038)
Abridged Balance Sheet as at 30 September 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

2,337

2,922

Tangible assets

5

110,823

141,197

 

113,160

144,119

Current assets

 

Debtors

1,842,846

1,640,346

Cash at bank and in hand

 

1,512,257

1,011,263

 

3,355,103

2,651,609

Creditors: Amounts falling due within one year

(3,412,561)

(2,377,980)

Net current (liabilities)/assets

 

(57,458)

273,629

Total assets less current liabilities

 

55,702

417,748

Creditors: Amounts falling due after more than one year

(43,905)

(63,673)

Accruals and deferred income

 

(8,921)

(2,503)

Net assets

 

2,876

351,572

Capital and reserves

 

Called up share capital

2

2

Retained earnings

2,874

351,570

Shareholders' funds

 

2,876

351,572

For the financial year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

BML Group Ltd

(Registration number: 09790038)
Abridged Balance Sheet as at 30 September 2023

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 20 August 2024 and signed on its behalf by:
 

.........................................
Mr Boruch Moishe Lobenstein
Director

 

BML Group Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 9 The High Cross Center The High Cross Centre
Fountayne Road
London
N15 4BE
England

These financial statements were authorised for issue by the Board on 20 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

BML Group Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

20% Reducing balance

Fixtures and Fittings

25% Reducing balance

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Other intangible asset

20% Reducing Balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

BML Group Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2023

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 21 (2022 - 18).

4

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

At 1 October 2022

8,878

8,878

At 30 September 2023

8,878

8,878

Amortisation

At 1 October 2022

5,956

5,956

Amortisation charge

585

585

At 30 September 2023

6,541

6,541

Carrying amount

At 30 September 2023

2,337

2,337

At 30 September 2022

2,922

2,922

 

BML Group Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2023

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 October 2022

214,777

214,777

At 30 September 2023

214,777

214,777

Depreciation

At 1 October 2022

73,580

73,580

Charge for the year

30,374

30,374

At 30 September 2023

103,954

103,954

Carrying amount

At 30 September 2023

110,823

110,823

At 30 September 2022

141,197

141,197