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Registered number: 01055337
B.M. Samuels Finance Group Ltd
Unaudited Financial Statements
For The Year Ended 31 January 2024
Kalculus
Chartered Accountants, Registered Auditors & Business Advisors
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 01055337
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 51,918 26,616
Tangible Assets 5 13,155 15,364
Investments 6 832,222 832,222
897,295 874,202
CURRENT ASSETS
Debtors 7 23,555,134 27,515,432
Cash at bank and in hand 2,434,455 976,654
25,989,589 28,492,086
Creditors: Amounts Falling Due Within One Year 8 (4,137,908 ) (6,805,282 )
NET CURRENT ASSETS (LIABILITIES) 21,851,681 21,686,804
TOTAL ASSETS LESS CURRENT LIABILITIES 22,748,976 22,561,006
NET ASSETS 22,748,976 22,561,006
CAPITAL AND RESERVES
Called up share capital 9 51,493 51,493
Capital redemption reserve 22,123 22,123
Profit and Loss Account 22,675,360 22,487,390
SHAREHOLDERS' FUNDS 22,748,976 22,561,006
Page 1
Page 2
For the year ending 31 January 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr A D Samuels
Director
29 October 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
B.M. Samuels Finance Group Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 01055337 . The registered office is 314 Regents Park Road, Finchley, London, N3 2JX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Interest income
Interest income is recognised in the profit and loss account using the effective interest method for interest bearing financial instruments. The effective interest method is a method of calculating the amortised cost of a financial assets and of allocating the interest income over the expected life of the financial instrument. 
Fee and commission income 
Fees and commissions receivable are recognized as income as the company fulfills its performance obligations. The company’s performance obligations arising from contracts with customers are in respect of the loan business where the performance obligations are typically fulfilled towards the beginning or end of the customer’s contract; these fees are recognized in income on this basis. Loan commitment fees are also recognised in management fees, over the life of the facility rather than an adjustment to the effective interest rate for loans expected to be drawn.
Profit sharing income
Profit sharing income is recognised based on the agreed share earned on the different projects. The shares vary on a project-to-project basis. It is recognised as part of the interest in mortgage advances. 
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are software costs. It is amortised straight line over its estimated economic life of 5 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15% on reducing balance
Fixtures & Fittings 15% on reducing balance
3. Average Number of Employees
Average number of employees, including directors, during the year was: 9 (2023: 8)
9 8
4. Intangible Assets
Other
£
Cost
As at 1 February 2023 26,616
Additions 38,282
As at 31 January 2024 64,898
Amortisation
As at 1 February 2023 -
Provided during the period 12,980
As at 31 January 2024 12,980
Net Book Value
As at 31 January 2024 51,918
As at 1 February 2023 26,616
Page 3
Page 4
5. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 1 February 2023 36,186 127,978 164,164
As at 31 January 2024 36,186 127,978 164,164
Depreciation
As at 1 February 2023 29,106 119,694 148,800
Provided during the period 967 1,242 2,209
As at 31 January 2024 30,073 120,936 151,009
Net Book Value
As at 31 January 2024 6,113 7,042 13,155
As at 1 February 2023 7,080 8,284 15,364
6. Investments
Unlisted
£
Cost
As at 1 February 2023 832,222
As at 31 January 2024 832,222
Provision
As at 1 February 2023 -
As at 31 January 2024 -
Net Book Value
As at 31 January 2024 832,222
As at 1 February 2023 832,222
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 218,738 357,953
Amounts owed by group undertakings 3,292,514 2,965,167
Other debtors 20,043,882 24,192,312
23,555,134 27,515,432
Page 4
Page 5
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1,940,835 1,452,311
Amounts owed to group undertakings 587,880 580,047
Other creditors 1,782,060 4,355,223
Taxation and social security (172,867 ) 417,701
4,137,908 6,805,282
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 51,493 51,493
Page 5