Registration number:
for the Year Ended
BWM Holdings UK Ltd
(Registration number: 09554393)
Balance Sheet as at 30 April 2024
Note |
2024 |
2023 |
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Fixed assets |
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Investments |
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Current assets |
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Debtors |
|
|
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Cash at bank and in hand |
|
|
|
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Net assets/(liabilities) |
|
( |
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Capital and reserves |
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Called up share capital |
390,001 |
390,001 |
|
Share premium reserve |
254,278 |
254,278 |
|
Retained earnings |
(461,395) |
(709,071) |
|
Shareholders' funds/(deficit) |
182,884 |
(64,792) |
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.
Approved and authorised by the
......................................... |
BWM Holdings UK Ltd
Notes to the Financial Statements for the Year Ended 30 April 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
United Kingdom
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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
Group accounts not prepared
Going concern
The financial statements have been prepared on a going concern basis. At the balance sheet date the Company had has current liabilities of £1,446,184. The Company retains the support of its ultimate parent who have confirmed their continured support of the Company to the extent required and that they will consequently not call in the amount owed by BWM Holdings UK Limited if it would compromise the Company's going concern status.
Audit report
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
BWM Holdings UK Ltd
Notes to the Financial Statements for the Year Ended 30 April 2024
Business combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Auditors' remuneration |
2024 |
2023 |
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Audit of the financial statements |
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Investments |
2024 |
2023 |
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Investments in subsidiaries |
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Investments in associates |
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BWM Holdings UK Ltd
Notes to the Financial Statements for the Year Ended 30 April 2024
Subsidiaries |
£ |
Cost or valuation |
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At 1 May 2023 |
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Carrying amount |
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At 30 April 2024 |
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At 30 April 2023 |
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Associates |
£ |
Cost |
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At 1 May 2023 |
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Carrying amount |
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At 30 April 2024 |
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At 30 April 2023 |
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Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
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2024 |
2023 |
Subsidiary undertakings |
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Italy |
Ordinary |
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England & Wales |
Ordinary |
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Associates |
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Italy |
Ordinary |
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Subsidiary undertakings |
BWM Italy S.r.L. The principal activity of BWM Italy S.r.L. is |
Bermad UK Limited The principal activity of Bermad UK Limited is |
BWM Holdings UK Ltd
Notes to the Financial Statements for the Year Ended 30 April 2024
Associates |
Euromag International S.r.L. The principal activity of Euromag International S.r.L. is |
Debtors |
Current |
Note |
2024 |
2023 |
Amounts owed by related parties |
|
- |
|
Other debtors |
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|
|
|
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Creditors |
Creditors: amounts falling due within one year
Note |
2024 |
2023 |
|
Due within one year |
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Trade creditors |
|
- |
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Amounts owed to related parties |
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Other creditors |
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Related party transactions |
Summary of transaction with parent
At the balance sheet date the company owed £1,733,350 (2023: £1,732,301) to its parent company Bermad CS in relation to an interest free loan.
Summary of transactions with subsidairies
At the balance sheet date the company owed £3,410 (2023: £3,410) to subdiary company Bermad UK Limited and £8,561 (2023: £8.561) to subsidiary company BWM Italy S.r.L.
Summary of transactions with associates
BWM Holdings UK Ltd
Notes to the Financial Statements for the Year Ended 30 April 2024
Parent and ultimate parent undertaking |
The company's immediate parent is