B W M Arms Limited 04251654 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is the provision of warehousing services to its parent company, Browning International SA. Digita Accounts Production Advanced 6.30.9574.0 true false true 04251654 2023-01-01 2023-12-31 04251654 2023-12-31 04251654 bus:OrdinaryShareClass1 2023-12-31 04251654 core:CurrentFinancialInstruments 2023-12-31 04251654 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 04251654 core:ConstructionInProgressAssetsUnderConstruction 2023-12-31 04251654 core:FurnitureFittingsToolsEquipment 2023-12-31 04251654 core:MotorVehicles 2023-12-31 04251654 core:ParentEntities 2023-12-31 04251654 bus:SmallEntities 2023-01-01 2023-12-31 04251654 bus:Audited 2023-01-01 2023-12-31 04251654 bus:FullAccounts 2023-01-01 2023-12-31 04251654 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 04251654 bus:RegisteredOffice 2023-01-01 2023-12-31 04251654 bus:Director5 2023-01-01 2023-12-31 04251654 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 04251654 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04251654 core:ComputerEquipment 2023-01-01 2023-12-31 04251654 core:ConstructionInProgressAssetsUnderConstruction 2023-01-01 2023-12-31 04251654 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 04251654 core:MotorVehicles 2023-01-01 2023-12-31 04251654 core:OfficeEquipment 2023-01-01 2023-12-31 04251654 core:ToolsEquipment 2023-01-01 2023-12-31 04251654 core:ParentEntities 2023-01-01 2023-12-31 04251654 core:ParentEntities core:SaleOrPurchaseGoods 2023-01-01 2023-12-31 04251654 1 2023-01-01 2023-12-31 04251654 countries:AllCountries 2023-01-01 2023-12-31 04251654 2022-12-31 04251654 core:ConstructionInProgressAssetsUnderConstruction 2022-12-31 04251654 core:FurnitureFittingsToolsEquipment 2022-12-31 04251654 core:MotorVehicles 2022-12-31 04251654 2022-01-01 2022-12-31 04251654 2022-12-31 04251654 bus:OrdinaryShareClass1 2022-12-31 04251654 core:CurrentFinancialInstruments 2022-12-31 04251654 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 04251654 core:ConstructionInProgressAssetsUnderConstruction 2022-12-31 04251654 core:FurnitureFittingsToolsEquipment 2022-12-31 04251654 core:MotorVehicles 2022-12-31 04251654 core:ParentEntities 2022-12-31 04251654 core:ParentEntities core:SaleOrPurchaseGoods 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 04251654

B W M Arms Limited

Filleted Financial Statements

for the Year Ended 31 December 2023

 

B W M Arms Limited

Contents

Statement of Directors' Responsibilities

1

Balance Sheet

2

Notes to the Financial Statements

3 to 8

 

B W M Arms Limited

Statement of Directors' Responsibilities

The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

select suitable accounting policies and apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

 

B W M Arms Limited

(Registration number: 04251654)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

5,826

9,049

Current assets

 

Debtors

5

10,821

12,199

Cash at bank and in hand

 

465,936

354,983

 

476,757

367,182

Creditors: Amounts falling due within one year

6

(123,888)

(44,220)

Net current assets

 

352,869

322,962

Net assets

 

358,695

332,011

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

358,595

331,911

Shareholders' funds

 

358,695

332,011

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.

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 26 March 2024 and signed on its behalf by:
 

.........................................
M P Dechene
Director

 

B W M Arms Limited

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

1

General information

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

The address of its registered office is:
Unit 2
Moorbrook Park
Didcot
Oxfordshire
OX11 7HP

These financial statements were authorised for issue by the Board on 26 March 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 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 financial statements have been prepared using the historical cost convention.

Going concern

The financial statements have been prepared on a going concern basis as the directors believe that no material uncertainties exist. The directors have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the company to be able to continue as a going concern.

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 28 March 2024 was Stuart Bates FCA, who signed for and on behalf of Wenn Townsend.

 

B W M Arms Limited

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

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the 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.

The company received government grants in respect of the Coronavirus Job Retention Scheme. These grants are recognised using the accrual model and as such are recorded in the profit and loss account in the period in which the company is entitled to such grants as a result of having furloughed staff members.

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.

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

Computer equipment

25% straight line

Office equipment

20% straight line

Motor vehicles

25% straight line

Warehouse equipment

25% straight line

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.

 

B W M Arms Limited

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

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2022 - 6).

 

B W M Arms Limited

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

4

Tangible assets

Office and computer equipment
£

Motor vehicles
 £

Warehouse equipment
£

Total
£

Cost or valuation

At 1 January 2023

26,017

13,556

43,012

82,585

Additions

2,759

-

-

2,759

At 31 December 2023

28,776

13,556

43,012

85,344

Depreciation

At 1 January 2023

22,868

10,194

40,474

73,536

Charge for the year

1,750

3,362

870

5,982

At 31 December 2023

24,618

13,556

41,344

79,518

Carrying amount

At 31 December 2023

4,158

-

1,668

5,826

At 31 December 2022

3,149

3,362

2,538

9,049

5

Debtors

Note

2023
£

2022
£

Amounts owed by group undertakings and undertakings in which the company has a participating interest

9

-

1,232

Prepayments

 

10,821

10,967

 

10,821

12,199

 

B W M Arms Limited

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

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

8,076

10,829

Taxation and social security

31,371

25,484

Accruals and deferred income

83,213

6,740

Other creditors

1,228

1,167

123,888

44,220

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

8

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £252,397 (2022 - £281,718).

9

Related party transactions

Summary of transactions with parent

Browning International, immediate parent company.
 The company received a management charge during the year.
 

Income and receivables from related parties

2023

Parent
£

Sale of goods

483,152

2022

Parent
£

Sale of goods

462,407

Amounts receivable from related party

1,232

 

B W M Arms Limited

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

Expenditure with and payables to related parties

2023

Parent
£

Amounts payable to related party

70,839

10

Parent and ultimate parent undertaking

The company's immediate parent is Browning International SA, incorporated in Belgium.

 The ultimate parent is Herstal SA (Holding), incorporated in Belgium.

 The most senior parent entity producing publicly available financial statements is Herstal SA (Holding). These financial statements are available upon request from P.I. Des Hauts-Sarts, 3EME Ave 25, 4040 Herstal, Belgium.