BMS TECHNOLOGIES LTD

Company Registration Number:
07476052 (England and Wales)

Unaudited statutory accounts for the year ended 31 December 2023

Period of accounts

Start date: 1 January 2023

End date: 31 December 2023

BMS TECHNOLOGIES LTD

Contents of the Financial Statements

for the Period Ended 31 December 2023

Balance sheet
Additional notes
Balance sheet notes

BMS TECHNOLOGIES LTD

Balance sheet

As at 31 December 2023

Notes 2023 2022


£

£
Called up share capital not paid: 0 0
Fixed assets
Intangible assets: 3 917 304,391
Tangible assets: 4 36,480 7,583
Total fixed assets: 37,397 311,974
Current assets
Stocks: 5 2,177,773 1,386,918
Debtors: 6 1,530,593 1,805,267
Cash at bank and in hand: 692,701 430,842
Total current assets: 4,401,067 3,623,027
Creditors: amounts falling due within one year: 7 ( 2,081,227 ) ( 2,016,067 )
Net current assets (liabilities): 2,319,840 1,606,960
Total assets less current liabilities: 2,357,237 1,918,934
Creditors: amounts falling due after more than one year: 8 ( 357,397 ) ( 344,029 )
Provision for liabilities: ( 2,031 ) ( 2,031 )
Total net assets (liabilities): 1,997,809 1,572,874
Capital and reserves
Called up share capital: 1,000 1,000
Share premium account: 0 0
Other reserves: 0 0
Profit and loss account: 1,996,809 1,571,874
Total Shareholders' funds: 1,997,809 1,572,874

The notes form part of these financial statements

BMS TECHNOLOGIES LTD

Balance sheet statements

For the year ending 31 December 2023 the company was entitled to exemption 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.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 31 July 2024
and signed on behalf of the board by:

Name: Mr Giles Cameron Flowerdew Briggs
Status: Director

The notes form part of these financial statements

BMS TECHNOLOGIES LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover comprises the fair value of the consideration received or receivable for the sale of goods 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.

    Tangible fixed assets depreciation policy

    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 Plant and machinery 25% reducing balance Fixtures and fittings 25% straight line Motor vehicles 25% reducing balance

    Other 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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. 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. Going concern After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements. Critical accounting judgements and key sources of estimation uncertainty In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. Judgements The directors consider that there are no key areas of judgement or estimation uncertainty to be disclosed in these financial statements. These financial statements do not contain any significant judgement or estimation uncertainty.

BMS TECHNOLOGIES LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 28 28

BMS TECHNOLOGIES LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

3. Intangible assets

Goodwill Other Total
Cost £ £ £
At 1 January 2023 800,000 10,140 810,140
Additions
Disposals
Revaluations
Transfers
At 31 December 2023 800,000 10,140 810,140
Amortisation
At 1 January 2023 505,749 0 505,749
Charge for year 294,251 9,223 303,474
On disposals
Other adjustments
At 31 December 2023 800,000 9,223 809,223
Net book value
At 31 December 2023 0 917 917
At 31 December 2022 294,251 10,140 304,391

BMS TECHNOLOGIES LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

4. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 January 2023 7,583 7,583
Additions 28,897 28,897
Disposals
Revaluations
Transfers
At 31 December 2023 36,480 36,480
Depreciation
At 1 January 2023
Charge for year
On disposals
Other adjustments
At 31 December 2023
Net book value
At 31 December 2023 36,480 36,480
At 31 December 2022 7,583 7,583

BMS TECHNOLOGIES LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

5. Stocks

2023 2022
£ £
Stocks 2,177,773 1,386,918
Total 2,177,773 1,386,918

BMS TECHNOLOGIES LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

6. Debtors

2023 2022
£ £
Trade debtors 1,530,593 1,805,267
Total 1,530,593 1,805,267

BMS TECHNOLOGIES LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

7. Creditors: amounts falling due within one year note

2023 2022
£ £
Bank loans and overdrafts 812,554 1,191,543
Amounts due under finance leases and hire purchase contracts 0 0
Trade creditors 321,643 259,845
Taxation and social security 811,182 446,388
Accruals and deferred income 8,397 8,397
Other creditors 127,451 109,894
Total 2,081,227 2,016,067

BMS TECHNOLOGIES LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

8. Creditors: amounts falling due after more than one year note

2023 2022
£ £
Other creditors 357,397 344,029
Total 357,397 344,029