Registered number
11066002
BMC Financial Planning Ltd
Filleted Accounts
31 May 2024
BMC Financial Planning Ltd
Registered number: 11066002
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,740 3,113
Current assets
Debtors 4 950 950
Cash at bank and in hand 70,683 45,503
71,633 46,453
Creditors: amounts falling due within one year 5 (42,251) (32,752)
Net current assets 29,382 13,701
Net assets 31,122 16,814
Capital and reserves
Called up share capital 2 2
Profit and loss account 31,120 16,812
Shareholders' funds 31,122 16,814
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
B J McNamara, Esq.
Director
Approved by the board on 12 September 2024
BMC Financial Planning Ltd
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts. Turnover includes revenue earned from commissions and the rendering of services. Turnover is recognised by reference to the date of completion of work done.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computer equipment over 3 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2023 5,216
At 31 May 2024 5,216
Depreciation
At 1 June 2023 2,103
Charge for the year 1,373
At 31 May 2024 3,476
Net book value
At 31 May 2024 1,740
At 31 May 2023 3,113
4 Debtors 2024 2023
£ £
Other debtors 950 950
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 34,311 25,018
Other creditors 7,940 7,734
42,251 32,752
6 Controlling party
The company is controlled by the director, who owns the entire share capital of the company.
7 Other information
BMC Financial Planning Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Devonshire House
582 Honeypot Lane,
Stanmore,
England
HA7 1JS
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