BAM Agency Limited 04068037 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is that of the sale of media advertising Digita Accounts Production Advanced 6.30.9574.0 true 04068037 2023-01-01 2023-12-31 04068037 2023-12-31 04068037 core:AcceleratedTaxDepreciationDeferredTax 2023-12-31 04068037 core:ProvisionsDeferredTax 2023-12-31 04068037 core:CurrentFinancialInstruments 2023-12-31 04068037 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 04068037 core:Non-currentFinancialInstruments 2023-12-31 04068037 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 04068037 core:FurnitureFittingsToolsEquipment 2023-12-31 04068037 core:LandBuildings 2023-12-31 04068037 core:MotorVehicles 2023-12-31 04068037 bus:SmallEntities 2023-01-01 2023-12-31 04068037 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 04068037 bus:FullAccounts 2023-01-01 2023-12-31 04068037 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 04068037 bus:RegisteredOffice 2023-01-01 2023-12-31 04068037 bus:Director1 2023-01-01 2023-12-31 04068037 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04068037 core:FurnitureFittings 2023-01-01 2023-12-31 04068037 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 04068037 core:LandBuildings 2023-01-01 2023-12-31 04068037 core:LeaseholdImprovements 2023-01-01 2023-12-31 04068037 core:MotorVehicles 2023-01-01 2023-12-31 04068037 core:PlantMachinery 2023-01-01 2023-12-31 04068037 countries:EnglandWales 2023-01-01 2023-12-31 04068037 2022-12-31 04068037 core:FurnitureFittingsToolsEquipment 2022-12-31 04068037 core:LandBuildings 2022-12-31 04068037 core:MotorVehicles 2022-12-31 04068037 2022-01-01 2022-12-31 04068037 2022-12-31 04068037 core:AcceleratedTaxDepreciationDeferredTax 2022-12-31 04068037 core:ProvisionsDeferredTax 2022-12-31 04068037 core:CurrentFinancialInstruments 2022-12-31 04068037 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 04068037 core:Non-currentFinancialInstruments 2022-12-31 04068037 core:Non-currentFinancialInstruments core:AfterOneYear 2022-12-31 04068037 core:FurnitureFittingsToolsEquipment 2022-12-31 04068037 core:LandBuildings 2022-12-31 04068037 core:MotorVehicles 2022-12-31 iso4217:GBP xbrli:pure

Registration number: 04068037

Prepared for the registrar

BAM Agency Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2023

 

BAM Agency Limited

(Registration number: 04068037)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

583,137

191,206

Current assets

 

Debtors

5

40,544

111,302

Cash at bank and in hand

 

446,771

646,276

 

487,315

757,578

Creditors: Amounts falling due within one year

6

(454,855)

(475,505)

Net current assets

 

32,460

282,073

Total assets less current liabilities

 

615,597

473,279

Creditors: Amounts falling due after more than one year

6

(217,457)

(118,645)

Deferred tax liabilities

 

(46,294)

(33,692)

Net assets

 

351,846

320,942

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

351,746

320,842

Shareholders' funds

 

351,846

320,942

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 14 August 2024
 


T C Bodenham
Director

 

BAM Agency 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 and Wales.

The address of its registered office is:
15 Royal Crescent
Cheltenham
GL50 3DA

 

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 except for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Judgements and estimation uncertainty

These financial statements do not contain any significant judgements or estimation uncertainty.

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 sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.

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.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the initial transaction dates.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

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

 

BAM Agency Limited

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

The current corporation 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.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position 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

Freehold land and buildings

nil

Leasehold improvements

10% straight line

Fixtures and fittings

25% reducing balance and 15% straight line

Plant and machinery

20% straight line

Motor vehicles

10% 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.

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. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. 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 debtors.

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 all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.

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.

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.

 

BAM Agency Limited

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

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.

Financial instruments


Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

 Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

 Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss.

 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 61 (2022 - 31).

 

BAM Agency Limited

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

 

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost

At 1 January 2023

69,806

155,686

89,863

315,355

Additions

362,252

68,919

8,768

439,939

Disposals

-

(6,328)

-

(6,328)

At 31 December 2023

432,058

218,277

98,631

748,966

Depreciation

At 1 January 2023

18,463

74,235

31,451

124,149

Charge for the year

6,875

26,087

9,351

42,313

Eliminated on disposal

-

(633)

-

(633)

At 31 December 2023

25,338

99,689

40,802

165,829

Carrying amount

At 31 December 2023

406,720

118,588

57,829

583,137

At 31 December 2022

51,343

81,451

58,412

191,206

Included within the net book value of land and buildings above is £362,252 (2022 - £Nil) in respect of freehold land and buildings and £44,468 (2022 - £51,343) in respect of short leasehold land and buildings.
 

 

5

Debtors

2023
 £

2022
 £

Trade debtors

27,090

99,549

Other debtors

-

2,849

Prepayments and accrued income

13,454

8,904

 

40,544

111,302

 

BAM Agency Limited

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

 

6

Creditors

Note

2023
 £

2022
 £

Due within one year

 

Loans and borrowings

7

57,976

108,782

Trade creditors

 

186,639

225,545

Social security and other taxes

 

64,395

58,958

Outstanding defined contribution pension costs

 

969

3,101

Other creditors

 

6,340

795

Accrued expenses

 

6,287

7,042

Corporation tax liability

132,249

71,282

 

454,855

475,505

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7

217,457

118,645

Included in loans and borrowings is £79,091 (£27,273 due within one year and £51,818 due over one year) which represents a Coronavirus Business Interuption Loan which is guaranteed by the UK Government.

 

7

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Bank borrowings

57,976

99,825

HP and finance lease liabilities

-

8,957

57,976

108,782

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

217,457

79,091

HP and finance lease liabilities

-

39,554

217,457

118,645

 

BAM Agency Limited

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

 

8

Deferred tax

Deferred tax assets and liabilities

2023

Asset
£

Liability
£

Accelerated tax depreciation

-

46,373

Short term timing difference

79

-

79

46,373

2022

Asset
£

Liability
£

Accelerated tax depreciation

-

33,807

Short term timing difference

115

-

115

33,807

 

9

Financial commitments

The total amount of financial commitments not included in the balance sheet is £24,789 (2022 - £54,006).

 

10

Controlling party

The company's immediate parent is BAM Advertising Holdings Limited, incorporated in England and Wales.

 

11

Related party transactions

At 31 December 2023, T C Bodenham is owed £3,754 from the company (2022: £704) in the form of a director's loan account. The loan is unsecured, repayable on demand and no interest is payable.