IRIS Accounts Production v24.3.2.46 SC449143 director 1.6.23 31.5.24 31.5.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC4491432023-05-31SC4491432024-05-31SC4491432023-06-012024-05-31SC4491432022-05-31SC4491432022-06-012023-05-31SC4491432023-05-31SC449143ns15:Scotland2023-06-012024-05-31SC449143ns14:PoundSterling2023-06-012024-05-31SC449143ns10:Director12023-06-012024-05-31SC449143ns10:PrivateLimitedCompanyLtd2023-06-012024-05-31SC449143ns10:SmallEntities2023-06-012024-05-31SC449143ns10:AuditExempt-NoAccountantsReport2023-06-012024-05-31SC449143ns10:SmallCompaniesRegimeForDirectorsReport2023-06-012024-05-31SC449143ns10:SmallCompaniesRegimeForAccounts2023-06-012024-05-31SC449143ns10:FullAccounts2023-06-012024-05-31SC449143ns10:RegisteredOffice2023-06-012024-05-31SC449143ns5:CurrentFinancialInstruments2024-05-31SC449143ns5:CurrentFinancialInstruments2023-05-31SC449143ns5:ShareCapital2024-05-31SC449143ns5:ShareCapital2023-05-31SC449143ns5:RetainedEarningsAccumulatedLosses2024-05-31SC449143ns5:RetainedEarningsAccumulatedLosses2023-05-31SC449143ns5:ComputerEquipment2023-06-012024-05-31SC449143ns5:ComputerEquipment2023-05-31SC449143ns5:ComputerEquipment2024-05-31SC449143ns5:ComputerEquipment2023-05-31SC449143ns5:WithinOneYearns5:CurrentFinancialInstruments2024-05-31SC449143ns5:WithinOneYearns5:CurrentFinancialInstruments2023-05-31
REGISTERED NUMBER: SC449143 (Scotland)















Unaudited Financial Statements

for the Year Ended 31 May 2024

for

BSM Associates Ltd

BSM Associates Ltd (Registered number: SC449143)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


BSM Associates Ltd

Company Information
for the Year Ended 31 May 2024







DIRECTOR: Mr B G Murison





REGISTERED OFFICE: 4a Urquhart Road
St. Fergus
Peterhead
Aberdeenshire
AB42 3HT





REGISTERED NUMBER: SC449143 (Scotland)





ACCOUNTANTS: SBP
Accountants
2 Cross Street
Fraserburgh
Aberdeenshire
AB43 9EQ

BSM Associates Ltd (Registered number: SC449143)

Statement of Financial Position
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 362 98

CURRENT ASSETS
Stocks - 9,670
Debtors 5 13,256 287
Cash at bank 36,281 26,359
49,537 36,316
CREDITORS
Amounts falling due within one year 6 32,671 24,249
NET CURRENT ASSETS 16,866 12,067
TOTAL ASSETS LESS CURRENT
LIABILITIES

17,228

12,165

PROVISIONS FOR LIABILITIES 83 19
NET ASSETS 17,145 12,146

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 17,045 12,046
SHAREHOLDERS' FUNDS 17,145 12,146

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 Associates Ltd (Registered number: SC449143)

Statement of Financial Position - 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 8 January 2025 and were signed by:





Mr B G Murison - Director


BSM Associates Ltd (Registered number: SC449143)

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

1. STATUTORY INFORMATION

BSM Associates 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.

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.

Turnover
Turnover represents amounts receivable for services provided in the normal course of business, net of discounts and VAT. Revenue is recognised to the extent that it is probable that economic benefit will flow to the company and when its value can be measured with a sufficient degree of certainty and reliability. All income is recognised in the accounting period to which it relates.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost

Tangible fixed assets are included at cost less depreciation and impairment. The residual value is reassessed at the end of each accounting period.

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 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 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 statement of financial position date.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

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

BSM Associates Ltd (Registered number: SC449143)

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

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 June 2023 1,253
Additions 540
At 31 May 2024 1,793
DEPRECIATION
At 1 June 2023 1,155
Charge for year 276
At 31 May 2024 1,431
NET BOOK VALUE
At 31 May 2024 362
At 31 May 2023 98

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 12,960 -
Prepayments 296 287
13,256 287

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Tax 21,867 15,916
Social security and other taxes - 155
VAT 7,588 5,420
Directors' current accounts 1,992 1,472
Accrued expenses 1,224 1,286
32,671 24,249

7. RELATED PARTY DISCLOSURES

The director operates a current account with the company and as at 31st May 2024 the balance owing to him was £1,992 (2023: £1,472). There are no specific terms of repayment and no interest is accrued.

8. ULTIMATE CONTROLLING PARTY

The controlling parties are are Mr & Mrs Murison