0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-05-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 11365879 2023-05-01 2024-04-30 11365879 2024-04-30 11365879 2023-04-30 11365879 2022-05-01 2023-04-30 11365879 2023-04-30 11365879 2022-04-30 11365879 bus:Director1 2023-05-01 2024-04-30 11365879 core:AfterOneYear 2024-04-30 11365879 core:AfterOneYear 2023-04-30 11365879 core:WithinOneYear 2024-04-30 11365879 core:WithinOneYear 2023-04-30 11365879 core:ShareCapital 2024-04-30 11365879 core:ShareCapital 2023-04-30 11365879 core:RetainedEarningsAccumulatedLosses 2024-04-30 11365879 core:RetainedEarningsAccumulatedLosses 2023-04-30 11365879 bus:Director1 2023-04-30 11365879 bus:Director1 2024-04-30 11365879 bus:Director1 2022-04-30 11365879 bus:Director1 2023-04-30 11365879 bus:Director1 2022-05-01 2023-04-30 11365879 bus:SmallEntities 2023-05-01 2024-04-30 11365879 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 11365879 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 11365879 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 11365879 bus:FullAccounts 2023-05-01 2024-04-30
COMPANY REGISTRATION NUMBER: 11365879
BMS Panel Works Ltd
Filleted Unaudited Financial Statements
30 April 2024
BMS Panel Works Ltd
Statement of Financial Position
30 April 2024
2024
2023
Note
£
£
£
Current assets
Cash at bank and in hand
735
734
Creditors: amounts falling due within one year
4
2,827
9,574
-------
-------
Net current liabilities
2,092
8,840
-------
-------
Total assets less current liabilities
( 2,092)
( 8,840)
Creditors: amounts falling due after more than one year
5
( 8,583)
( 8,691)
Provisions
Taxation including deferred tax
( 10)
( 10)
-------
-------
Net assets/(liabilities)
6,501
( 139)
-------
-------
Capital and reserves
Called up share capital
1
1
Profit and loss account
6,500
( 140)
-------
----
Shareholders funds/(deficit)
6,501
( 139)
-------
----
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
BMS Panel Works Ltd
Statement of Financial Position (continued)
30 April 2024
These financial statements were approved by the board of directors and authorised for issue on 8 January 2025 , and are signed on behalf of the board by:
Mr P J Hayward
Director
Company registration number: 11365879
BMS Panel Works Ltd
Notes to the Financial Statements
Year ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is McGills, Oakley House, Tetbury Road, Cirencester, Gloucestershire, GL7 1US, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
( 1,001)
Corporation tax
1,582
164
Social security and other taxes
502
7,946
Other creditors
1,744
1,464
-------
-------
2,827
9,574
-------
-------
5. Creditors: amounts falling due after more than one year
2024
2023
£
£
Amounts owed to group undertakings and undertakings in which the company has a participating interest
( 8,583)
( 8,691)
-------
-------
6. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward
Amounts repaid
Balance outstanding
£
£
£
Mr P J Hayward
( 394)
( 220)
( 614)
----
----
----
2023
Balance brought forward
Amounts repaid
Balance outstanding
£
£
£
Mr P J Hayward
( 274)
( 120)
( 394)
----
----
----