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REGISTERED NUMBER: 01716749 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024

FOR

B.M.A VARSITY LIMITED

B.M.A VARSITY LIMITED (REGISTERED NUMBER: 01716749)






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


B.M.A VARSITY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: S A Locke
R L Locke
N Jennings





SECRETARY: N Jennings





REGISTERED OFFICE: 15 Oxford Road
Cowley
Oxford
Oxfordshire
OX4 2EN





REGISTERED NUMBER: 01716749 (England and Wales)





ACCOUNTANTS: Astral Accountancy Services Limited
Astral House
Granville Way
Bicester
Oxfordshire
OX26 4JT

B.M.A VARSITY LIMITED (REGISTERED NUMBER: 01716749)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 9,944 8,698
Investment property 5 745,000 745,000
754,944 753,698

CURRENT ASSETS
Stocks 13,323 10,183
Debtors 6 60,867 44,766
Cash at bank and in hand 819,735 602,424
893,925 657,373
CREDITORS
Amounts falling due within one year 7 157,041 137,600
NET CURRENT ASSETS 736,884 519,773
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,491,828

1,273,471

PROVISIONS FOR LIABILITIES 8 200,105 164,403
NET ASSETS 1,291,723 1,109,068

CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Revaluation reserve 250,000 250,000
Retained earnings 1,040,723 858,068
SHAREHOLDERS' FUNDS 1,291,723 1,109,068

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 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.

B.M.A VARSITY LIMITED (REGISTERED NUMBER: 01716749)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 November 2024 and were signed on its behalf by:





N Jennings - Director


B.M.A VARSITY LIMITED (REGISTERED NUMBER: 01716749)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

B.M.A Varsity 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 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 as modified by the revaluation of certain assets.

Significant judgements and estimates
The preparation of financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements, are disclosed in the accounting policies below.

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is recognised for the provision of services when it is probable that an economic benefit will flow to the entity and the revenue and costs can be reliably measured. For continuing services, revenue is recognised when the stage of completion can be reliably measured.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 20% on reducing balance
Plant & Machinery - 20% on reducing balance
Motor Vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

Investment property and depreciation
Investment property is shown at fair value. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


B.M.A VARSITY LIMITED (REGISTERED NUMBER: 01716749)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

2. ACCOUNTING POLICIES - continued
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.

Remedial works provisions
Provisions are recognised when the Company has a present obligation as a result of past events, if it is probable that an outflow of funds will be required to settle the obligation and a realisable estimate of the amount and obligation can be made.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 8 ) .

4. TANGIBLE FIXED ASSETS
Improvements
to Plant & Motor Computer
property Machinery Vehicles equipment Totals
£    £    £    £    £   
COST
At 1 June 2023 40,810 32,920 54,023 2,317 130,070
Additions 4,220 - - - 4,220
At 31 May 2024 45,030 32,920 54,023 2,317 134,290
DEPRECIATION
At 1 June 2023 39,304 31,432 49,623 1,013 121,372
Charge for year 1,145 298 1,100 431 2,974
At 31 May 2024 40,449 31,730 50,723 1,444 124,346
NET BOOK VALUE
At 31 May 2024 4,581 1,190 3,300 873 9,944
At 31 May 2023 1,506 1,488 4,400 1,304 8,698

B.M.A VARSITY LIMITED (REGISTERED NUMBER: 01716749)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023
and 31 May 2024 745,000
NET BOOK VALUE
At 31 May 2024 745,000
At 31 May 2023 745,000

Fair value at 31 May 2024 is represented by:
£   
Valuation in 2008 5,000
Valuation in 2009 170,000
Valuation in 2019 250,000
Cost 320,000
745,000

If the investment properties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 320,000 320,000

Investment properties were valued on an open market basis on 31 May 2023 by the directors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 49,221 38,222
Other debtors 5,274 -
Prepayments 6,372 6,544
60,867 44,766

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 50,712 50,428
Tax 66,933 36,892
Social security and other taxes 5,733 3,855
VAT 30,062 31,082
Directors' current accounts 1 11,743
Accruals and deferred income 3,600 3,600
157,041 137,600

B.M.A VARSITY LIMITED (REGISTERED NUMBER: 01716749)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 105,733 83,791
Remedial Works Provisions 94,372 80,612
200,105 164,403

Deferred Other
tax provisions
£    £   
Balance at 1 June 2023 83,791 80,612
Provided during year 21,942 13,760
Balance at 31 May 2024 105,733 94,372

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,000 Ordinary £1 1,000 1,000