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Company registration number: 11116699







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2024


BMS PERFORMANCE LIMITED






































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BMS PERFORMANCE LIMITED
 


 
COMPANY INFORMATION


Directors
Mr G J Halewood 
Mr P Mellows-Facer 
Mr A S Bell 
Mr B Illingworth 
Miss C LJ Slater-Johnston 




Registered number
11116699



Registered office
1 Kings Arms Yard

London

EC2R 7AF




Accountants
Menzies LLP
Chartered Accountants

Magna House

18-32 London Road

Staines-Upon-Thames

TW18 4BP





 


BMS PERFORMANCE LIMITED
 



CONTENTS



Page
Statement of Financial Position
1 - 2
Notes to the Financial Statements
3 - 9


 


BMS PERFORMANCE LIMITED
REGISTERED NUMBER:11116699



STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
464,370
543,556

Tangible assets
 5 
23,411
40,710

Investments
 6 
35,161
35,161

  
522,942
619,427

Current assets
  

Debtors: amounts falling due within one year
 7 
771,354
1,206,574

Cash at bank and in hand
  
811,396
418,113

  
1,582,750
1,624,687

Creditors: amounts falling due within one year
 8 
(1,174,300)
(1,218,680)

Net current assets
  
 
 
408,450
 
 
406,007

Total assets less current liabilities
  
931,392
1,025,434

Creditors: amounts falling due after more than one year
 9 
-
(249,216)

  

Net assets
  
931,392
776,218


Capital and reserves
  

Called up share capital 
  
1,200
1,200

Share premium account
  
649,800
649,800

Profit and loss account
  
280,392
125,218

  
931,392
776,218


Page 1

 


BMS PERFORMANCE LIMITED
REGISTERED NUMBER:11116699


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Mr G J Halewood
Director

Date: 16 August 2024

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 


BMS PERFORMANCE LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

BMS Performance Limited is a private company limited by shares incorporated in England and Wales. Its registered office and principal place of business is shown on the company information page.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover shown in the profit and loss account represents amounts receivable for staff recruitment services and training services provided during the year in the normal course of business, net of trade discounts, VAT and other sales and related taxes. Turnover is recognised when candidates commence work.

  
2.3

Foreign currency translation

Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of Income and Retained Earnings except when deferred in other comprehensive income as qualifying cash flow hedges.
Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in the Statement of Income and Retained Earnings within 'other operating income'.

 
2.4

Operating leases: the company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Page 3

 


BMS PERFORMANCE LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge 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.

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 income.

  
2.8

Intangible assets

Goodwill
Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the Statement of Income and Retained Earnings over its useful economic life over 10 years.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 


BMS PERFORMANCE LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
33 1/3% Straight line
Computer equipment
-
33 1/3% Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Valuation of investments

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.11

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 72 (2023 - 86).

Page 5

 


BMS PERFORMANCE LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Intangible assets




Goodwill

£



Cost


At 1 April 2023
1,087,125


Additions
36,908



At 31 March 2024

1,124,033



Amortisation


At 1 April 2023
543,569


Charge for the year on owned assets
116,094



At 31 March 2024

659,663



Net book value



At 31 March 2024
464,370



At 31 March 2023
543,556





Page 6

 


BMS PERFORMANCE LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Total

£
£
£



Cost or valuation


At 1 April 2023
124,106
84,240
208,346


Additions
-
12,863
12,863



At 31 March 2024

124,106
97,103
221,209



Depreciation


At 1 April 2023
114,511
53,125
167,636


Charge for the year on owned assets
6,762
23,400
30,162



At 31 March 2024

121,273
76,525
197,798



Net book value



At 31 March 2024
2,833
20,578
23,411



At 31 March 2023
9,595
31,115
40,710


6.


Fixed asset investments





Listed investments

£



Cost or valuation


At 1 April 2023
35,161



At 31 March 2024
35,161




Page 7

 


BMS PERFORMANCE LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Debtors

2024
2023
£
£


Trade debtors
429,490
421,106

Amounts owed by associated undertakings
22,609
184,153

Other debtors
109,328
238,945

Prepayments and accrued income
209,927
362,370

771,354
1,206,574



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
302,857
382,430

Corporation tax
108,221
87,581

Other taxation and social security
257,132
203,344

Other creditors
158,816
246,642

Accruals and deferred income
347,274
298,683

1,174,300
1,218,680





9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Trade creditors
-
180,000

Other creditors
-
69,216

-
249,216


Page 8

 


BMS PERFORMANCE LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

10.


Commitments under operating leases

At 31 March 2024 the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
30,247
360,820

Later than 1 year and not later than 5 years
57,738
14,043

87,985
374,863

 
Page 9