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Registered number: 11837441










BMO INVESTMENTS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

 
BMO INVESTMENTS LIMITED
 

CONTENTS



Page
Balance sheet
 
1 - 2
Notes to the financial statements
 
3 - 7


 
BMO INVESTMENTS LIMITED
REGISTERED NUMBER: 11837441

BALANCE SHEET
AS AT 29 FEBRUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,496
3,137

Investment property
 5 
438,286
438,286

  
440,782
441,423

Current assets
  

Debtors
 6 
1,097
1,350

Cash at bank and in hand
  
7,332
9,590

  
8,429
10,940

Creditors: Amounts Falling Due Within One Year
 7 
(5,440)
(7,026)

Net current assets
  
 
 
2,989
 
 
3,914

Total assets less current liabilities
  
443,771
445,337

Creditors: amounts falling due after more than one year
 8 
(431,510)
(441,240)

Provisions for liabilities
  

Deferred tax
 9 
(624)
(784)

  
 
 
(624)
 
 
(784)

Net assets
  
11,637
3,313


Capital and reserves
  

Called up share capital 
  
3
3

Profit and loss account
  
11,634
3,310

  
11,637
3,313


Page 1

 
BMO INVESTMENTS LIMITED
REGISTERED NUMBER: 11837441
    
BALANCE SHEET (CONTINUED)
AS AT 29 FEBRUARY 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
G.A. Osborne
Director

Date: 24 October 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
BMO INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

BMO Investments Limited (the company) is a private company limited by shares, incorporated and domiciled in England. The address of its registered office is 21 Woodside Way, Solihull, West Midlands,  B91 1HB.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Turnover comprises revenue recognised by the company in respect of rental income receivable during the period.

 
2.3

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.4

Current and deferred taxation

The tax expense for the period comprises current and deferred tax. Tax is recognised in the Statement of income and retained earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
BMO INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)


2.5
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
20%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 4

 
BMO INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.10

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees



The average monthly number of employees, including directors, during the year was 3 (2023 - 3).


4.


Tangible fixed assets







Fixtures and fittings

£



Cost 


At 1 March 2023
9,468


Additions
1,483



At 29 February 2024

10,951



Depreciation


At 1 March 2023
6,331


Charge for the year on owned assets
2,124



At 29 February 2024

8,455



Net book value



At 29 February 2024
2,496



At 28 February 2023
3,137

Page 5

 
BMO INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

5.


Investment property





Investment property

£



Valuation


At 1 March 2023
438,286



At 29 February 2024
438,286

The 2024 valuations were made by the directors, on an open market value for existing use basis.



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
438,286
438,286


6.


Debtors

2024
2023
£
£


Other debtors
-
520

Prepayments and accrued income
1,097
830

1,097
1,350



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
1,605
4,875

Corporation tax
1,895
-

Accruals and deferred income
1,940
2,151

5,440
7,026


Page 6

 
BMO INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
164,482
162,712

Other creditors
267,028
278,528

431,510
441,240


The bank loans are secured on the assets of the company.

The aggregate amount of liabilities repayable wholly or in part more than five years after the balance sheet date is:

2024
2023
£
£


Repayable other than by instalments
162,712
162,712




9.


Deferred taxation






2024


£






At beginning of year
(784)


Charged to profit or loss
160



At end of year
(624)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(624)
(784)

(624)
(784)

 
Page 7