BrightAccountsProduction v1.0.0 v1.0.0 2022-09-01 The company was not dormant during the period The company was trading for the entire period The principal activity of the company is that of electrical installation. 30 August 2024 1 1 NI640416 2023-08-31 NI640416 2022-08-31 NI640416 2021-08-31 NI640416 2022-09-01 2023-08-31 NI640416 2021-09-01 2022-08-31 NI640416 uk-bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 NI640416 uk-curr:PoundSterling 2022-09-01 2023-08-31 NI640416 uk-bus:SmallCompaniesRegimeForAccounts 2022-09-01 2023-08-31 NI640416 uk-bus:FullAccounts 2022-09-01 2023-08-31 NI640416 uk-bus:Director1 2022-09-01 2023-08-31 NI640416 uk-bus:RegisteredOffice 2022-09-01 2023-08-31 NI640416 uk-bus:Agent1 2022-09-01 2023-08-31 NI640416 uk-bus:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 NI640416 uk-core:ShareCapital 2023-08-31 NI640416 uk-core:ShareCapital 2022-08-31 NI640416 uk-core:RetainedEarningsAccumulatedLosses 2023-08-31 NI640416 uk-core:RetainedEarningsAccumulatedLosses 2022-08-31 NI640416 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-08-31 NI640416 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2022-08-31 NI640416 uk-bus:FRS102 2022-09-01 2023-08-31 NI640416 uk-core:Buildings 2022-09-01 2023-08-31 NI640416 uk-core:PlantMachinery 2022-09-01 2023-08-31 NI640416 uk-core:FurnitureFittingsToolsEquipment 2022-09-01 2023-08-31 NI640416 uk-core:MotorVehicles 2022-09-01 2023-08-31 NI640416 uk-core:CurrentFinancialInstruments 2023-08-31 NI640416 uk-core:CurrentFinancialInstruments 2022-08-31 NI640416 uk-core:CurrentFinancialInstruments 2023-08-31 NI640416 uk-core:CurrentFinancialInstruments 2022-08-31 NI640416 uk-core:WithinOneYear 2023-08-31 NI640416 uk-core:WithinOneYear 2022-08-31 NI640416 uk-core:WithinOneYear 2023-08-31 NI640416 uk-core:WithinOneYear 2022-08-31 NI640416 uk-core:WithinOneYear 2023-08-31 NI640416 uk-core:WithinOneYear 2022-08-31 NI640416 uk-core:AfterOneYear 2023-08-31 NI640416 uk-core:AfterOneYear 2022-08-31 NI640416 uk-core:AfterOneYear 2023-08-31 NI640416 uk-core:AfterOneYear 2022-08-31 NI640416 uk-core:BetweenOneTwoYears 2023-08-31 NI640416 uk-core:BetweenOneTwoYears 2022-08-31 NI640416 uk-core:BetweenTwoFiveYears 2023-08-31 NI640416 uk-core:BetweenTwoFiveYears 2022-08-31 NI640416 uk-core:BetweenOneFiveYears 2023-08-31 NI640416 uk-core:BetweenOneFiveYears 2022-08-31 NI640416 uk-core:EmployeeBenefits 2022-08-31 NI640416 uk-core:EmployeeBenefits 2022-09-01 2023-08-31 NI640416 uk-core:AcceleratedTaxDepreciationDeferredTax 2023-08-31 NI640416 uk-core:TaxLossesCarry-forwardsDeferredTax 2023-08-31 NI640416 uk-core:OtherDeferredTax 2023-08-31 NI640416 uk-core:RevaluationPropertyPlantEquipmentDeferredTax 2023-08-31 NI640416 uk-core:EmployeeBenefits 2023-08-31 NI640416 2022-09-01 2023-08-31 xbrli:pure iso4217:GBP xbrli:shares
Company Registration Number: NI640416
 
 
BMG Rigging & Electrical Limited
 
Unaudited Financial Statements
 
for the financial year ended 31 August 2023
BMG Rigging & Electrical Limited
DIRECTOR AND OTHER INFORMATION

 
Director Brendan McGivern
 
 
Company Registration Number NI640416
 
 
Registered Office and Business Address 2 Hightown Rise
Newtownabbey
Co Antrim
BT36 7XA
 
 
Accountants Quarter
Chartered Accountants
St Anne's House
15 Church Street
Cathedral Quarter
Belfast
BT1 1PG



BMG Rigging & Electrical Limited

CHARTERED ACCOUNTANTS' REPORT
to the Director on the Compilation of the unaudited financial statements of BMG Rigging & Electrical Limited
for the financial year ended 31 August 2023
 
In order to assist you to fulfil your duties under the Companies Act 2006, we have compiled for your approval the financial statements of the company for the financial year ended 31 August 2023 as set out on pages  to 12 which comprise the Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given to us.
 
This report is made solely to the director of BMG Rigging & Electrical Limited, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the company’s Director that we have done so, and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and its director for our work or for this report.
 
We have carried out this engagement in accordance with guidance issued by Chartered Accountants Ireland and have complied with the relevant ethical guidance laid down by Chartered Accountants Ireland relating to members undertaking the compilation of financial statements.
 
You have acknowledged on the Statement of Financial Position for the year ended 31 August 2023 your duty to ensure that BMG Rigging & Electrical Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of BMG Rigging & Electrical Limited. You consider that BMG Rigging & Electrical Limited is exempt from the statutory audit requirement for the financial year.
 
We have not been instructed to carry out an audit or a review of the financial statements of BMG Rigging & Electrical Limited. For this reason, we have not verified the adequacy, accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
 
 
 
__________________________________
QUARTER
Chartered Accountants
St Anne's House
15 Church Street
Cathedral Quarter
Belfast
BT1 1PG
 
30 August 2024



BMG Rigging & Electrical Limited
Company Registration Number: NI640416
STATEMENT OF FINANCIAL POSITION
as at 31 August 2023

2023 2022
Notes £ £
 
Non-Current Assets
Property, plant and equipment 4 39,958 52,358
───────── ─────────
 
Current Assets
Receivables 5 78,962 134,110
Cash and cash equivalents 183,484 83,337
───────── ─────────
262,446 217,447
───────── ─────────
Payables: amounts falling due within one year 6 (198,448) (140,091)
───────── ─────────
Net Current Assets 63,998 77,356
───────── ─────────
Total Assets less Current Liabilities 103,956 129,714
 
Payables:
amounts falling due after more than one year 7 (35,817) (53,819)
 
Provisions for liabilities 9 (8,744) (9,948)
───────── ─────────
Net Assets 59,395 65,947
═════════ ═════════
 
Equity
Called up share capital 100 100
Retained earnings 59,295 65,847
───────── ─────────
Equity attributable to owners of the company 59,395 65,947
═════════ ═════════
 
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 company has taken advantage of the exemption under section 444 not to file the Income Statement and Director's Report.
           
For the financial year ended 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The director confirms that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The director acknowledges their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Director and authorised for issue on 30 August 2024
           
           
           
________________________________          
Brendan McGivern          
Director          
           



BMG Rigging & Electrical Limited
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 August 2023

   
1. General Information
 
BMG Rigging & Electrical Limited is a company limited by shares incorporated in Northern Ireland. The registered office of the company is 2 Hightown Rise, Newtownabbey, Co Antrim, BT36 7XA which is also the principal place of business of the company. The principal activity of the company is that of electrical installation. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the year ended 31 August 2023 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Revenue
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
 
Property, plant and equipment and depreciation
Property, plant and equipment are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of property, plant and equipment, less their estimated residual value, over their expected useful lives as follows:
 
  Short leasehold property - 20% Straight line
  Plant and machinery - 20% Straight line
  Fixtures, fittings and equipment - 20% Straight line
  Motor vehicles - 20% Straight line
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Leasing and hire purchases
Property, plant and equipment held under leasing and Hire Purchases arrangements which transfer substantially all the risks and rewards of ownership to the company are capitalised and included in the Statement of Financial Position at their cost or valuation, less depreciation. The corresponding commitments are recorded as liabilities. Payments in respect of these obligations are treated as consisting of capital and interest elements, with interest charged to the Income Statement.
 
Trade and other receivables
Trade and other receivables are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Borrowing costs
Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other payables
Trade and other payables are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Statement of Financial Position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Statement of Financial Position date.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The average monthly number of employees, including director, during the financial year was 1, (2022 - 1).
 
  2023 2022
  Number Number
 
Director 1 1
  ═════════ ═════════
             
4. Property, plant and equipment
  Short Plant and Fixtures, Motor Total
  leasehold machinery fittings and vehicles  
  property   equipment    
  £ £ £ £ £
Cost
At 1 September 2022 2,700 4,100 16,683 121,014 144,497
Additions - - - 5,300 5,300
  ───────── ───────── ───────── ───────── ─────────
At 31 August 2023 2,700 4,100 16,683 126,314 149,797
  ───────── ───────── ───────── ───────── ─────────
Depreciation
At 1 September 2022 2,700 4,100 14,111 71,228 92,139
Charge for the financial year - - 1,323 16,377 17,700
  ───────── ───────── ───────── ───────── ─────────
At 31 August 2023 2,700 4,100 15,434 87,605 109,839
  ───────── ───────── ───────── ───────── ─────────
Carrying amount
At 31 August 2023 - - 1,249 38,709 39,958
  ═════════ ═════════ ═════════ ═════════ ═════════
At 31 August 2022 - - 2,572 49,786 52,358
  ═════════ ═════════ ═════════ ═════════ ═════════
       
5. Receivables 2023 2022
  £ £
 
Trade receivables - 54,910
Amounts owed by group undertakings 78,962 79,200
  ───────── ─────────
  78,962 134,110
  ═════════ ═════════
       
6. Payables 2023 2022
Amounts falling due within one year £ £
 
Bank loan 9,553 9,553
Other Loan 10,000 -
Net obligations under finance leases
and hire purchase contracts 7,838 7,838
Taxation  (Note 8) 16,438 22,640
Director's current account 88,643 96,171
Other creditors 2,788 889
Accruals and deferred income 63,188 3,000
  ───────── ─────────
  198,448 140,091
  ═════════ ═════════
       
7. Payables 2023 2022
Amounts falling due after more than one year £ £
 
Bank loan 20,580 30,744
Finance leases and hire purchase contracts 15,237 23,075
  ───────── ─────────
  35,817 53,819
  ═════════ ═════════
 
Loans
Repayable in one year or less, or on demand (Note 6) 19,553 9,553
Repayable between one and two years 9,553 9,553
Repayable between two and five years 11,027 21,191
  ───────── ─────────
  40,133 40,297
  ═════════ ═════════
 
 
Net obligations under finance leases
and hire purchase contracts
Repayable within one year 7,838 7,838
Repayable between one and five years 15,237 23,075
  ───────── ─────────
  23,075 30,913
  ═════════ ═════════
       
8. Taxation 2023 2022
  £ £
 
Payables:
VAT 13,790 22,340
Corporation tax 2,648 -
PAYE / NI - 300
  ───────── ─────────
  16,438 22,640
  ═════════ ═════════
         
9. Provisions for liabilities
 
The amounts provided for deferred taxation are analysed below:
 
  Capital Total Total
  allowances    
       
    2023 2022
  £ £ £
 
At financial year start 9,948 9,948 978
Charged to profit and loss (1,204) (1,204) 8,970
  ───────── ───────── ─────────
At financial year end 8,744 8,744 9,948
  ═════════ ═════════ ═════════
       
10. Capital commitments
 
The company had no material capital commitments at the financial year-ended 31 August 2023.