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Company Registration No. NI045617 (Northern Ireland)
BRM Systems Ltd Unaudited accounts for the year ended 31 March 2024
BRM Systems Ltd Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
89,430 
9,895 
Current assets
Debtors
32,723 
37,673 
Cash at bank and in hand
228,907 
187,120 
261,630 
224,793 
Creditors: amounts falling due within one year
(71,460)
(70,847)
Net current assets
190,170 
153,946 
Total assets less current liabilities
279,600 
163,841 
Creditors: amounts falling due after more than one year
(31,655)
- 
Net assets
247,945 
163,841 
Capital and reserves
Called up share capital
700 
700 
Capital redemption reserve
300 
300 
Profit and loss account
246,945 
162,841 
Shareholders' funds
247,945 
163,841 
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 17 September 2024 and were signed on its behalf by
Brian Hughes Director Company Registration No. NI045617
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BRM Systems Ltd Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
BRM Systems Ltd is a private company, limited by shares, registered in Northern Ireland, registration number NI045617. The registered office is The Office Dock Unit 2, Channel Wharf, 21 Old Channel Road, Belfast, BT3 9DE, Northern Ireland.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Going concern
The directors of BRM Systems Ltd believe that the company has adequate resources available to enable it to continue to meet its ongoing obligations as and when they fall due for at least twelve months from the date of signing. Accordingly, the company continues to adopt the going concern basis in preparing the financial statements.
Turnover
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and revenue can be measured reliably. Revenue from a contract to provide information technology consultancy services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when: the amount of revenue can be measured reliably; it is probable that the Company will receive the consideration due under the contract; the stage of completion of the contract can be measured reliably; and the costs incurred and the costs to complete the contract can be measured reliably.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Straight Line
Motor vehicles
25% Straight Line
Fixtures & fittings
25% Straight Line
Leased assets
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
- 3 -
BRM Systems Ltd Notes to the Accounts for the year ended 31 March 2024
4
Tangible fixed assets
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 April 2023
52,123 
7,562 
32,485 
92,170 
Additions
102,732 
- 
1,707 
104,439 
Disposals
(44,290)
- 
- 
(44,290)
At 31 March 2024
110,565 
7,562 
34,192 
152,319 
Depreciation
At 1 April 2023
45,407 
5,599 
31,269 
82,275 
Charge for the year
17,495 
757 
1,116 
19,368 
On disposals
(38,754)
- 
- 
(38,754)
At 31 March 2024
24,148 
6,356 
32,385 
62,889 
Net book value
At 31 March 2024
86,417 
1,206 
1,807 
89,430 
At 31 March 2023
6,716 
1,963 
1,216 
9,895 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
9,198 
36,351 
Accrued income and prepayments
23,525 
1,322 
32,723 
37,673 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
20,699 
24,036 
Obligations under finance leases and hire purchase contracts
5,114 
- 
Trade creditors
1,632 
5,632 
Taxes and social security
41,940 
39,129 
Accruals
2,075 
2,050 
71,460 
70,847 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Obligations under finance leases and hire purchase contracts
31,655 
- 
8
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
300 A Ordinary shares of £1 each
300 
300 
300 C Ordinary shares of £1 each
300 
300 
100 D Ordinary shares of £1 each
100 
100 
700 
700 
- 4 -
BRM Systems Ltd Notes to the Accounts for the year ended 31 March 2024
9
Average number of employees
During the year the average number of employees was 3 (2023: 3).
- 5 -