BME Enclosures (NI) Ltd NI695047 false 2023-03-02 2024-03-31 2024-03-31 The principal activity of the company is the manufacturing of enclosures for electrical and mechanical equipment. Digita Accounts Production Advanced 6.30.9574.0 true true NI695047 2023-03-02 2024-03-31 NI695047 2024-03-31 NI695047 bus:OrdinaryShareClass1 2024-03-31 NI695047 core:CurrentFinancialInstruments 2024-03-31 NI695047 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 NI695047 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2024-03-31 NI695047 bus:SmallEntities 2023-03-02 2024-03-31 NI695047 bus:AuditExemptWithAccountantsReport 2023-03-02 2024-03-31 NI695047 bus:FilletedAccounts 2023-03-02 2024-03-31 NI695047 bus:SmallCompaniesRegimeForAccounts 2023-03-02 2024-03-31 NI695047 bus:RegisteredOffice 2023-03-02 2024-03-31 NI695047 bus:Director1 2023-03-02 2024-03-31 NI695047 bus:OrdinaryShareClass1 2023-03-02 2024-03-31 NI695047 bus:PrivateLimitedCompanyLtd 2023-03-02 2024-03-31 NI695047 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2023-03-02 2024-03-31 NI695047 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity core:SaleOrPurchaseGoods 2023-03-02 2024-03-31 NI695047 countries:NorthernIreland 2023-03-02 2024-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: NI695047

BME Enclosures (NI) Ltd

Unaudited Filleted Financial Statements

for the Period from 2 March 2023 to 31 March 2024

 

BME Enclosures (NI) Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

BME Enclosures (NI) Ltd

(Registration number: NI695047)
Balance Sheet as at 31 March 2024

Note

2024
£

Current assets

 

Stocks

4

5,780

Debtors

5

38,952

Cash at bank and in hand

 

5,844

 

50,576

Creditors: Amounts falling due within one year

6

(75,358)

Net liabilities

 

(24,782)

Capital and reserves

 

Called up share capital

7

100

Retained earnings

(24,882)

Shareholders' deficit

 

(24,782)

For the financial period ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 23 August 2024 and signed on its behalf by:
 

.........................................
Brian McMaster
Director

 

BME Enclosures (NI) Ltd

Notes to the Unaudited Financial Statements for the Period from 2 March 2023 to 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is:
104A Straid Road
Gracehill
Ballymena
BT42 2QF

These financial statements were authorised for issue by the Board on 23 August 2024.

2

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

BME Enclosures (NI) Ltd

Notes to the Unaudited Financial Statements for the Period from 2 March 2023 to 31 March 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

BME Enclosures (NI) Ltd

Notes to the Unaudited Financial Statements for the Period from 2 March 2023 to 31 March 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 3.

4

Stocks

2024
£

Other inventories

5,780

5

Debtors

Current

2024
£

Trade debtors

36,773

Other debtors

2,179

 

38,952

 

BME Enclosures (NI) Ltd

Notes to the Unaudited Financial Statements for the Period from 2 March 2023 to 31 March 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

Due within one year

 

Loans and borrowings

8

1,450

Trade creditors

 

8,821

Taxation and social security

 

835

Accruals and deferred income

 

1,100

Other creditors

 

63,152

 

75,358

7

Share capital

Allotted, called up and fully paid shares

2024

No.

£

Ordinary shares of £1 each

100

100

   

8

Loans and borrowings

Current loans and borrowings

2024
£

Bank overdrafts

1,450

9

Related party transactions

Summary of transactions with entities with joint control or significant interest

Transactions with entities with joint control
 

Income and receivables from related parties

2024

Entities with joint control or significant influence
£

Sale of goods

56,848

Amounts receivable from related party

28,000

 

BME Enclosures (NI) Ltd

Notes to the Unaudited Financial Statements for the Period from 2 March 2023 to 31 March 2024

Loans from related parties

2024

Entities with joint control or significant influence
£

Total
£

Advanced

63,000

63,000

At end of period

63,000

63,000