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Registration number: 02903821


BMB Engineers (Newcastle) Limited

Directors' Report and Unaudited Financial Statements

for the Year Ended 30 April 2024

 

BMB Engineers (Newcastle) Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

BMB Engineers (Newcastle) Limited

Company Information

Directors

Mr S A Bradburn

Mr J A Bradburn

Company secretary

Mrs M Bradburn

Registered office

96 Millrise Road
Milton
Stoke On Trent
Staffordshire
ST2 7DN

Accountants

Howsons
Chartered Accountants
Winton House
Stoke Road
Stoke on Trent
Staffordshire
ST4 2RW

 

BMB Engineers (Newcastle) Limited

(Registration number: 02903821)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

144,836

163,106

Investment property

5

200,000

200,000

 

344,836

363,106

Current assets

 

Stocks

12,433

36,264

Debtors

7

79,692

60,474

Other financial assets

6

82,460

72,655

Cash at bank and in hand

 

349,754

266,524

 

524,339

435,917

Creditors: Amounts falling due within one year

8

(213,607)

(192,392)

Net current assets

 

310,732

243,525

Total assets less current liabilities

 

655,568

606,631

Provisions for liabilities

(33,023)

(28,017)

Net assets

 

622,545

578,614

Capital and reserves

 

Called up share capital

1,000

1,000

Other reserves

131,870

131,870

Retained earnings

489,675

445,744

Shareholders' funds

 

622,545

578,614

For the financial 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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of Financial Reporting Standard 102 (FRS 102) Section 1A - small entities.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

BMB Engineers (Newcastle) Limited

(Registration number: 02903821)
Balance Sheet as at 30 April 2024

Approved and authorised by the Board on 13 January 2025 and signed on its behalf by:
 

.........................................
Mr S A Bradburn
Director

   
     
 

BMB Engineers (Newcastle) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
96 Millrise Road
Milton
Stoke On Trent
Staffordshire
ST2 7DN

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The company's presentational currency is pound sterling (£). The accounts are rounded to the nearest whole pound.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

BMB Engineers (Newcastle) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

10% reducing balance method

Fixtures and fittings

25% on written down value

Motor vehicles

25% on written down value

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the director. The director uses observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

BMB Engineers (Newcastle) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Financial instruments

Classification
Basic financial assets, including trade and other debtors, cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Such assets are subsequently carried at amortised cost using the effective interest method.
Basic financial liabilities, including trade and other trade creditors, bank and other loans, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

 Recognition and measurement
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit and loss.

 Impairment
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised in the profit or loss.

Financial assets are derecognised when a) the contractual rights to the cash flows from the asset expire or are settled, or b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2023 - 7).

 

BMB Engineers (Newcastle) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other property, plant and equipment
 £

Total
£

Cost or valuation

At 1 May 2023

16,063

47,115

330,719

393,897

Additions

-

-

680

680

At 30 April 2024

16,063

47,115

331,399

394,577

Depreciation

At 1 May 2023

15,417

30,281

185,093

230,791

Charge for the year

161

4,209

14,580

18,950

At 30 April 2024

15,578

34,490

199,673

249,741

Carrying amount

At 30 April 2024

485

12,625

131,726

144,836

At 30 April 2023

646

16,834

145,626

163,106

5

Investment properties

2024
£

At 1 May & at 30 April

200,000

There has been no valuation of investment property by an independent valuer.

 

BMB Engineers (Newcastle) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

6

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Current financial assets

Cost or valuation

At 1 May 2023

72,655

Fair value adjustments

7,454

Additions

2,351

At 30 April 2024

82,460

Carrying amount

At 30 April 2024

82,460

7

Debtors

2024
£

2023
£

Trade debtors

76,015

56,964

Prepayments

3,677

3,510

79,692

60,474

8

Creditors

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

29,866

27,730

Taxation and social security

 

13,387

17,926

Other creditors

 

32,774

16,877

Directors' loan account

 

137,580

129,859

 

213,607

192,392