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Registered number: 10615489
Business Machines (Central) Limited
Unaudited Financial Statements
For The Year Ended 28 February 2024
Morgan Keen Limited
70b High Street
Bassingbourn
Royston
SG8 5LF
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 10615489
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 17,579 22,730
17,579 22,730
CURRENT ASSETS
Stocks 5 8,955 7,805
Debtors 6 10,633 261
Cash at bank and in hand 3,909 2,262
23,497 10,328
Creditors: Amounts Falling Due Within One Year 7 (34,122 ) (20,249 )
NET CURRENT ASSETS (LIABILITIES) (10,625 ) (9,921 )
TOTAL ASSETS LESS CURRENT LIABILITIES 6,954 12,809
Creditors: Amounts Falling Due After More Than One Year 8 (6,486 ) (6,606 )
NET ASSETS 468 6,203
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 368 6,103
SHAREHOLDERS' FUNDS 468 6,203
Page 1
Page 2
For the year ending 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Iain Boyle
Director
20/11/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Business Machines (Central) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10615489 . The registered office is Unit 70b The Gas House High Street, Bassingbourn, Royston, SG8 5LF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services 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.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery over 5 years
Motor Vehicles over 5 years
Fixtures & Fittings over 5 years
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 March 2023 31,056
As at 28 February 2024 31,056
Depreciation
As at 1 March 2023 8,326
Provided during the period 5,151
As at 28 February 2024 13,477
Net Book Value
As at 28 February 2024 17,579
As at 1 March 2023 22,730
Page 3
Page 4
5. Stocks
2024 2023
£ £
Materials 8,955 7,805
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 2,706 -
Prepayments and accrued income 2,799 -
VAT 5,128 261
10,633 261
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 7,045 -
Bank loans and overdrafts - 3,009
Other taxes and social security 140 -
Director's loan account 26,937 17,240
34,122 20,249
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 6,486 6,606
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 4