Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-29No description of principal activityThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-03-01false2891truetruefalse 12189192 2023-03-01 2024-02-29 12189192 2022-03-01 2023-02-28 12189192 2024-02-29 12189192 2023-02-28 12189192 c:Director3 2023-03-01 2024-02-29 12189192 d:PlantMachinery 2023-03-01 2024-02-29 12189192 d:PlantMachinery 2024-02-29 12189192 d:PlantMachinery 2023-02-28 12189192 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 12189192 d:FurnitureFittings 2023-03-01 2024-02-29 12189192 d:FurnitureFittings 2024-02-29 12189192 d:FurnitureFittings 2023-02-28 12189192 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 12189192 d:OtherPropertyPlantEquipment 2023-03-01 2024-02-29 12189192 d:OtherPropertyPlantEquipment 2024-02-29 12189192 d:OtherPropertyPlantEquipment 2023-02-28 12189192 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 12189192 d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 12189192 d:CurrentFinancialInstruments 2024-02-29 12189192 d:CurrentFinancialInstruments 2023-02-28 12189192 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 12189192 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 12189192 d:ShareCapital 2024-02-29 12189192 d:ShareCapital 2023-02-28 12189192 d:RetainedEarningsAccumulatedLosses 2024-02-29 12189192 d:RetainedEarningsAccumulatedLosses 2023-02-28 12189192 d:AcceleratedTaxDepreciationDeferredTax 2024-02-29 12189192 d:AcceleratedTaxDepreciationDeferredTax 2023-02-28 12189192 c:FRS102 2023-03-01 2024-02-29 12189192 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 12189192 c:FullAccounts 2023-03-01 2024-02-29 12189192 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 12189192 2 2023-03-01 2024-02-29 12189192 e:PoundSterling 2023-03-01 2024-02-29 iso4217:GBP xbrli:pure

Registered number: 12189192









BM ANGEL LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

 
BM ANGEL LIMITED
REGISTERED NUMBER: 12189192

BALANCE SHEET
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
55,066
61,038

  
55,066
61,038

Current assets
  

Stocks
  
13,590
12,902

Debtors: amounts falling due within one year
 5 
701,584
1,286,555

Cash at bank and in hand
 6 
171,638
23,490

  
886,812
1,322,947

Creditors: amounts falling due within one year
 7 
(789,977)
(1,367,906)

Net current assets/(liabilities)
  
 
 
96,835
 
 
(44,959)

Total assets less current liabilities
  
151,901
16,079

Provisions for liabilities
  

Deferred tax
  
(10,462)
(11,597)

  
 
 
(10,462)
 
 
(11,597)

Net assets
  
141,439
4,482


Capital and reserves
  

Called up share capital 
  
300
300

Profit and loss account
  
141,139
4,182

  
141,439
4,482


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 profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.
Page 1

 
BM ANGEL LIMITED
REGISTERED NUMBER: 12189192
    
BALANCE SHEET (CONTINUED)
AS AT 29 FEBRUARY 2024


The financial statements were approved and authorised for issue by the board and were signed on its behalf on 15 November 2024.




................................................
Alexander Robert Large
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
BM ANGEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

BM Angel Limited is a private company limited by shares incorporated in England and Wales.Registered address and company number are as below:
Registered office : 65 Brushfield Street, London, United Kingdom, E16AA.
Company Number : 12189192

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

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
BM ANGEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
BM ANGEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

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; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.8

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.

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:

Plant and machinery
-
25%
SLM
Fixtures and fittings
-
25%
SLM
Other fixed assets
-
10%
SLM

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.

Page 5

 
BM ANGEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.10

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.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

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.

 
2.13

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 28 (2023 - 91).

Page 6

 
BM ANGEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

4.


Tangible fixed assets







Plant and machinery
Fixtures and fittings
Other fixed assets
Total

£
£
£
£



Cost or valuation


At 1 March 2023
25,321
55,951
-
81,272


Additions
8,015
4,780
3,270
16,065



At 29 February 2024

33,336
60,731
3,270
97,337



Depreciation


At 1 March 2023
3,960
16,274
-
20,234


Charge for the year on owned assets
7,413
14,354
270
22,037



At 29 February 2024

11,373
30,628
270
42,271



Net book value



At 29 February 2024
21,963
30,103
3,000
55,066



At 28 February 2023
21,361
39,677
-
61,038


5.


Debtors

29 February
28 February
2024
2023
£
£


Trade debtors
2,183
4,247

Amounts owed by group undertakings
691,165
1,260,381

Other debtors
925
9,638

Prepayments and accrued income
7,311
12,289

701,584
1,286,555


Page 7

 
BM ANGEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

6.


Cash and cash equivalents

29 February
28 February
2024
2023
£
£

Cash at bank and in hand
171,638
23,490

171,638
23,490



7.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Trade creditors
18,478
1,049,956

Amounts owed to group undertakings
727,700
283,620

Other taxation and social security
11,788
10,678

Other creditors
6,841
227

Accruals and deferred income
25,170
23,425

789,977
1,367,906



8.


Deferred taxation






2024


£






At beginning of year
(11,597)


Charged to profit or loss
1,135



At end of year
(10,462)

The provision for deferred taxation is made up as follows:

29 February
28 February
2024
2023
£
£


Accelerated capital allowances
(10,463)
(11,597)

(10,463)
(11,597)

Page 8

 
BM ANGEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

9.


Related party transactions

At the year end the company was owed £631,253 (2023 - £1,242,469) by Brother Marcus Limited, a related company, in respect of an interest free loan which is repayable on demand.
At the year end the company was owed £54,147 (2023 - £14,671) by BM Borough Limited, a related company,in respect of an interest free loan which is repayable on demand.
At the year end the company was owed £5,765 (2023 - £3,241) by BM South Kensington Limited, a related company, in respect of an interest free loan which is repayable on demand.
At the year end the company owed £727,700 (2023 - £283,620) to BM Spitalfields Limited, a related company,in respect of an interest free loan which is repayable on demand.
At the year end the company was owed £925 (2023 - £625) by A Gaitanos, the director of the company, in respect of an interest free loan which is repayable on demand.


10.


Controlling party

The immediate and ultimate parent undertaking and controlling party is Brother Marcus Limited.

 
Page 9