BMH Cars Limited 09662432 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is the sale of second hand vehicles Digita Accounts Production Advanced 6.30.9574.0 true true 09662432 2023-04-01 2024-03-31 09662432 2024-03-31 09662432 2 2024-03-31 09662432 core:RetainedEarningsAccumulatedLosses 2024-03-31 09662432 core:ShareCapital 2024-03-31 09662432 core:CurrentFinancialInstruments 2024-03-31 09662432 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 09662432 core:Non-currentFinancialInstruments 2024-03-31 09662432 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 09662432 core:Goodwill 2024-03-31 09662432 core:FurnitureFittings 2024-03-31 09662432 bus:SmallEntities 2023-04-01 2024-03-31 09662432 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 09662432 bus:FilletedAccounts 2023-04-01 2024-03-31 09662432 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 09662432 bus:RegisteredOffice 2023-04-01 2024-03-31 09662432 bus:Director1 2023-04-01 2024-03-31 09662432 bus:Director2 2023-04-01 2024-03-31 09662432 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09662432 core:Goodwill 2023-04-01 2024-03-31 09662432 core:FurnitureFittings 2023-04-01 2024-03-31 09662432 countries:EnglandWales 2023-04-01 2024-03-31 09662432 2023-03-31 09662432 core:Goodwill 2023-03-31 09662432 core:FurnitureFittings 2023-03-31 09662432 2022-04-01 2023-03-31 09662432 2023-03-31 09662432 2 2023-03-31 09662432 core:RetainedEarningsAccumulatedLosses 2023-03-31 09662432 core:ShareCapital 2023-03-31 09662432 core:CurrentFinancialInstruments 2023-03-31 09662432 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 09662432 core:Non-currentFinancialInstruments 2023-03-31 09662432 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 09662432 core:FurnitureFittings 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 09662432

BMH Cars Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

BMH Cars Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

BMH Cars Limited

Company Information

Directors

M Bulford

Mrs H Bulford

Registered office

Four Jays
Church Lane
Pinvin
Pershore
Worcestershire
WR10 2EU

Accountants

Clement Rabjohns Limited
Chartered Accountants
111/113 High Street
Evesham
Worcestershire
WR11 4XP

 

BMH Cars Limited

(Registration number: 09662432)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

563

587

Current assets

 

Stocks

6

68,200

69,600

Debtors

7

2,238

5,026

Cash at bank and in hand

 

113,158

119,471

 

183,596

194,097

Creditors: Amounts falling due within one year

8

(134,433)

(131,632)

Net current assets

 

49,163

62,465

Total assets less current liabilities

 

49,726

63,052

Creditors: Amounts falling due after more than one year

8

(13,379)

(22,500)

Net assets

 

36,347

40,552

Capital and reserves

 

Called up share capital

100

100

Retained earnings

36,247

40,452

Shareholders' funds

 

36,347

40,552

For the financial 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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year 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 20 August 2024 and signed on its behalf by:
 

 

BMH Cars Limited

(Registration number: 09662432)
Balance Sheet as at 31 March 2024

.........................................
M Bulford
Director

 

BMH Cars Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Four Jays
Church Lane
Pinvin
Pershore
Worcestershire
WR10 2EU
United Kingdom

The principal place of business is:
St Richards Road
Evesham
Worcestershire
WR11 1XJ
United Kingdom

These financial statements were authorised for issue by the Board on 20 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 in the ordinary course of the Company’s activities. Turnover is shown net of 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.

 

BMH Cars Limited

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

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet 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

Furniture, fittings and equipment

20% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

5 years

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 comprises original cost and where applicable direct overheads to bring the finished goods 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.

 

BMH Cars Limited

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

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 3).

 

BMH Cars Limited

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

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2023

20,000

20,000

At 31 March 2024

20,000

20,000

Amortisation

At 1 April 2023

20,000

20,000

At 31 March 2024

20,000

20,000

Carrying amount

At 31 March 2024

-

-

5

Tangible assets

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 April 2023

1,864

1,864

Additions

116

116

At 31 March 2024

1,980

1,980

Depreciation

At 1 April 2023

1,277

1,277

Charge for the year

140

140

At 31 March 2024

1,417

1,417

Carrying amount

At 31 March 2024

563

563

At 31 March 2023

587

587

6

Stocks

2024
£

2023
£

Other inventories

68,200

69,600

 

BMH Cars Limited

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

7

Debtors

Note

2024
£

2023
£

Prepayments

 

2,238

1,864

Income tax asset

-

3,162

 

2,238

5,026

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

10,000

10,000

Trade creditors

 

2,292

2,243

Taxation and social security

 

122

2,506

Accruals and deferred income

 

2,000

2,000

Other creditors

 

120,019

114,883

 

134,433

131,632

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

13,379

22,500

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

13,379

22,500

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,000

10,000