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REGISTERED NUMBER: 09950846 (England and Wales)








REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

BFM VENTURES LIMITED

BFM VENTURES LIMITED (REGISTERED NUMBER: 09950846)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024




Page

Company Information 1

Report of the Directors 2

Balance Sheet 3 to 4

Notes to the Financial Statements 5 to 7


BFM VENTURES LIMITED

COMPANY INFORMATION
for the Year Ended 31 March 2024







DIRECTORS: R C McNeill
A J Welch
P J Warburton
B P Williams
A R Lewis
J L Munday





REGISTERED OFFICE: 2-3 North Mews
London
London
WC1N 2JP





REGISTERED NUMBER: 09950846 (England and Wales)





ACCOUNTANTS: C. Wilkinson & Co.
Chartered Accountants and Statutory Auditors
Britannic House
657 Liverpool Road
Irlam
Manchester
Greater Manchester
M44 5XD

BFM VENTURES LIMITED (REGISTERED NUMBER: 09950846)

REPORT OF THE DIRECTORS
for the Year Ended 31 March 2024

The directors present their report with the financial statements of the company for the year ended 31 March 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of a holding company

DIRECTORS
The directors set out in the table below have held office during the whole of the period from 1 April 2023 to the date of this report.

The beneficial interests of the directors holding office at 31 March 2024 in the shares of the company, according to the register of directors' interests, were as follows:

31.3.24 1.4.23
Ordinary shares of £1.00 each
R C McNeill - -
A J Welch 150 150
P J Warburton 300 300
B P Williams 300 300
A R Lewis 300 300
J L Munday 75 75

These directors did not hold any non-beneficial interests in the shares of the company.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





A J Welch - Director


25 September 2024

BFM VENTURES LIMITED (REGISTERED NUMBER: 09950846)

BALANCE SHEET
31 March 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Investments 4 1,310,703 1,310,703

CURRENT ASSETS
Debtors 5 121,499 168,368
Cash at bank 3,357 19,597
124,856 187,965
CREDITORS
Amounts falling due within one year 6 (1,000,318 ) (1,025,398 )
NET CURRENT LIABILITIES (875,462 ) (837,433 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

435,241

473,270

CAPITAL AND RESERVES
Called up share capital 1,800 1,800
Share premium 322,575 322,575
Capital redemption reserve 600 600
Retained earnings 110,266 148,295
SHAREHOLDERS' FUNDS 435,241 473,270

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

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

The directors acknowledge their 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.

BFM VENTURES LIMITED (REGISTERED NUMBER: 09950846)

BALANCE SHEET - continued
31 March 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 September 2024 and were signed on its behalf by:




J L Munday - Director



A J Welch - Director


BFM VENTURES LIMITED (REGISTERED NUMBER: 09950846)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

BFM Ventures Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which in the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principle accounting policies adopted are set out below.

BFM Ventures Limited, and the group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 (the Act) and the group is not ineligible as set out in section 384 of the Act. Advantage has been taken of the exemption ny Section 399 of the Act related to small groups.

Investments in subsidiaries
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

BFM VENTURES LIMITED (REGISTERED NUMBER: 09950846)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Reporting period
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial Instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, and loans from fellow group companies that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

3. EMPLOYEES AND DIRECTORS

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

BFM VENTURES LIMITED (REGISTERED NUMBER: 09950846)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2023
and 31 March 2024 1,310,703
NET BOOK VALUE
At 31 March 2024 1,310,703
At 31 March 2023 1,310,703

Investments in subsidiary undertakings are represented at acquisition cost being the price negotiated by the company with the former shareholders, together with incidental acquisition costs.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other debtors 121,499 168,368

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Amounts owed to group undertakings 857,614 492,136
Other creditors 142,704 533,262
1,000,318 1,025,398

7. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Other creditors 141,549 532,238

Other creditors are secured by way of a fixed and floating charge over the assets of the company.

8. ULTIMATE CONTROLLING PARTY

The company was under the control of its directors throughout the period.