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REGISTERED NUMBER: 11985861 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 March 2024

for

BDLM Limited

BDLM Limited (Registered number: 11985861)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BDLM Limited

Company Information
for the Year Ended 31 March 2024







Directors: L S Dalton
B James
D M Simpkins





Registered office: c/o Work Here
4-5 High Town
Hereford
HR1 2AA





Registered number: 11985861 (England and Wales)





Accountants: Crowthers Chartered Accountants
15 St Georges Road
Cheltenham
Gloucestershire
GL50 3DT

BDLM Limited (Registered number: 11985861)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 66,012 141,993
Investments 5 100 100
Investment property 6 550,000 550,000
616,112 692,093

CURRENT ASSETS
Stocks - 1,087,873
Debtors 7 242,459 182,180
Cash at bank 1,691 125,413
244,150 1,395,466
CREDITORS
Amounts falling due within one year 8 748,949 565,107
NET CURRENT (LIABILITIES)/ASSETS (504,799 ) 830,359
TOTAL ASSETS LESS CURRENT
LIABILITIES

111,313

1,522,452

CREDITORS
Amounts falling due after more than one
year

9

488,505

1,528,903
NET LIABILITIES (377,192 ) (6,451 )

CAPITAL AND RESERVES
Called up share capital 11 400 400
Retained earnings (377,592 ) (6,851 )
SHAREHOLDERS' FUNDS (377,192 ) (6,451 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each 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.

BDLM Limited (Registered number: 11985861)

Balance Sheet - continued
31 March 2024


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 May 2024 and were signed on its behalf by:




L S Dalton - Director B James - Director




D M Simpkins - Director


BDLM Limited (Registered number: 11985861)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

BDLM Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Plant and machinery - 20% straight line
Computer equipment - 20% straight line

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

BDLM Limited (Registered number: 11985861)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


BDLM Limited (Registered number: 11985861)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
Cost
At 1 April 2023 162,085
Additions 22,810
Disposals (96,450 )
At 31 March 2024 88,445
Depreciation
At 1 April 2023 20,092
Charge for year 34,942
Eliminated on disposal (32,601 )
At 31 March 2024 22,433
Net book value
At 31 March 2024 66,012
At 31 March 2023 141,993

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
Cost
At 1 April 2023
and 31 March 2024 100
Net book value
At 31 March 2024 100
At 31 March 2023 100

BDLM Limited (Registered number: 11985861)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. INVESTMENT PROPERTY
Total
£   
Fair value
At 1 April 2023
and 31 March 2024 550,000
Net book value
At 31 March 2024 550,000
At 31 March 2023 550,000

The investment property was professionally valued on 23 August 2022 and the directors have agreed that the valuation has not materially changed up to 31 March 2024.

The investment property is leased to the company's subsidiary BDLM Lettings Limited.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 600 114,673
Other debtors 241,859 67,507
242,459 182,180

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 49,994 4,858
Hire purchase contracts 11,863 23,477
Trade creditors 36,647 107,162
Amounts owed to group undertakings 583,288 17,751
Taxation and social security 2,714 -
Other creditors 64,443 411,859
748,949 565,107

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 38,062 91,731
Other creditors 450,443 1,437,172
488,505 1,528,903

BDLM Limited (Registered number: 11985861)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Foundation Finance Mortgage 420,750 420,750
Danny Robson Loan - 981,980
420,750 1,402,730

The loans above are secured by fixed charges over the property of the company.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
400 Ordinary 1 400 400

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
M I McKeown
Balance outstanding at start of year 2,856 (75,656 )
Amounts advanced 25,380 122,817
Amounts repaid (5,000 ) (44,305 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 23,236 2,856

B James
Balance outstanding at start of year 844 (71,344 )
Amounts advanced 25,371 72,188
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 26,215 844

L S Dalton
Balance outstanding at start of year - (2,603 )
Amounts advanced 26,767 2,603
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 26,767 -

As at 31 March 2024 the directors owed the company £76,218. This figure is included within current assets. The loan is interest free and repayable on demand.

BDLM Limited (Registered number: 11985861)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

13. ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of Matrix Consortium Limited.

Registered number: 14286844

Registered office:

C/O Work Here
4-5 High Town
Hereford
United Kingdom
HR1 2AA

14. TRANSACTIONS WITH DIRECTORS

Included within the balance of creditors due within one year is £31,929 (2023: £58,129) owed by the company to its directors. These loans are interest free with no fixed repayments terms.

During the year, the company also received services from the following companies, which directors of the company hold a material interest in:

MM & CM Limited
RentMyHouse.co.uk Limited
Construction PM Services Limited
Four J Developments Limited