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REGISTERED NUMBER: SC631387 (Scotland)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

BSM TRAINING AND CONSULTANCY LTD

BSM TRAINING AND CONSULTANCY LTD (REGISTERED NUMBER: SC631387)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 9

BSM TRAINING AND CONSULTANCY LTD

Company Information
for the Year Ended 31 May 2024







DIRECTOR: B McLelland





REGISTERED OFFICE: Paxton House
11 Woodside Crescent
Glasgow
G3 7UL





REGISTERED NUMBER: SC631387 (Scotland)





ACCOUNTANTS: McAllisters
Paxton House
11 Woodside Crescent
Charing Cross
Glasgow
G3 7UL

BSM TRAINING AND CONSULTANCY LTD (REGISTERED NUMBER: SC631387)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 7,600 10,400
Tangible assets 5 593 511
8,193 10,911

CURRENT ASSETS
Stocks 1,904 1,650
Debtors 6 8,172 5,168
Cash at bank 5,950 15,070
16,026 21,888
CREDITORS
Amounts falling due within one year 7 12,453 15,919
NET CURRENT ASSETS 3,573 5,969
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,766

16,880

CREDITORS
Amounts falling due after more than one
year

8

(10,456

)

(15,767

)

PROVISIONS FOR LIABILITIES (113 ) (705 )
NET ASSETS 1,197 408

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 1,097 308
SHAREHOLDERS' FUNDS 1,197 408

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

BSM TRAINING AND CONSULTANCY LTD (REGISTERED NUMBER: SC631387)

Balance Sheet - continued
31 May 2024


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 October 2024 and were signed by:





B McLelland - Director


BSM TRAINING AND CONSULTANCY LTD (REGISTERED NUMBER: SC631387)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

BSM Training and Consultancy Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
The preparation of the financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies. The directors are of the opinion that due to the nature of the business, there are no critical accounting estimates or judgements used in the preparation of these financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discount and value added taxes. Turnover includes revenue earned from the provision of health and safety training and consultancy.

Rendering of services
Turnover from the provision of health and safety training and consultancy is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Tangible fixed assets are stated at historical cost less accumulated depreciation and any 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.

Depreciation is charged to profit or loss over the estimated useful economic lives, as follows:

Plant & machinery - 25% reducing balance
Computer equipment - 33% straight line

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.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined, which is the higher of its fair value less costs to sell and its value in use.
Any impairment loss is recognised immediately as an expense within profit or loss.

BSM TRAINING AND CONSULTANCY LTD (REGISTERED NUMBER: SC631387)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

BSM TRAINING AND CONSULTANCY LTD (REGISTERED NUMBER: SC631387)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued

Basic financial instruments
Trade and other debtors/creditors

Trade and other debtors are recognised initially at transaction price less attributable transaction costs. Trade and other creditors are recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade debtors. If the arrangement constitutes a financing transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments discounted at a market rate of interest for a similar debt instrument.

Cash and cash equivalents

Cash and cash equivalents comprise cash balances and call deposits

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised within profit or loss.

For financial assets that are measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated future cash flows discounted at the assets original effective interest rate. If a financial asset has a variable interest rate, the discount rate of measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the assets carrying amount and the best estimate of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.

Provisions
A provision is recognised when the company has a legal or constructive obligation as a result of a past event and it is probable that an outflow of economic benefits will be required to settle the obligation.There are no provisions recognised in the current year.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Computer
Goodwill software Totals
£    £    £   
COST
At 1 June 2023
and 31 May 2024 12,000 8,000 20,000
AMORTISATION
At 1 June 2023 4,800 4,800 9,600
Amortisation for year 1,200 1,600 2,800
At 31 May 2024 6,000 6,400 12,400
NET BOOK VALUE
At 31 May 2024 6,000 1,600 7,600
At 31 May 2023 7,200 3,200 10,400

BSM TRAINING AND CONSULTANCY LTD (REGISTERED NUMBER: SC631387)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

5. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 June 2023 827 2,637 3,464
Additions - 583 583
Disposals - (349 ) (349 )
At 31 May 2024 827 2,871 3,698
DEPRECIATION
At 1 June 2023 566 2,387 2,953
Charge for year 65 433 498
Eliminated on disposal - (346 ) (346 )
At 31 May 2024 631 2,474 3,105
NET BOOK VALUE
At 31 May 2024 196 397 593
At 31 May 2023 261 250 511

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 2,675 5,168
Directors' current accounts 4,110 -
S455 tax 1,387 -
8,172 5,168

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts 1,111 1,111
Other loans 4,200 4,200
Trade creditors 380 1,716
Tax 4,209 3,605
VAT 1,981 2,508
Other creditors 572 1,774
Directors' current accounts - 1,005
12,453 15,919

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Bank loans - 1-2 years 1,111 1,111
Bank loans - 2-5 years 4,445 5,556
Other loans - 1-2 years 4,200 4,200
Other loans - 2-5 years 700 4,900
10,456 15,767

BSM TRAINING AND CONSULTANCY LTD (REGISTERED NUMBER: SC631387)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
100 Ordinary £0.01 100 100

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2024 and 31 May 2023:

31.5.24 31.5.23
£    £   
B McLelland
Balance outstanding at start of year (1,004 ) (107 )
Amounts advanced 27,155 24,497
Amounts repaid (22,041 ) (25,394 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 4,110 (1,004 )

11. RELATED PARTY DISCLOSURES

During the year, directors remuneration of £9,580 was paid (2023: £9,100). In addition, dividends of £9,000 were paid (2023: £12,000).

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
BSM Training and Consultancy Ltd

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of BSM Training and Consultancy Ltd for the year ended 31 May 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the director of BSM Training and Consultancy Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of BSM Training and Consultancy Ltd and state those matters that we have agreed to state to the director of BSM Training and Consultancy Ltd in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that BSM Training and Consultancy Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of BSM Training and Consultancy Ltd. You consider that BSM Training and Consultancy Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of BSM Training and Consultancy Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






McAllisters
Paxton House
11 Woodside Crescent
Charing Cross
Glasgow
G3 7UL


28 October 2024