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Registered number: 11736307
BMAF SERVICES LIMITED
ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2024
Prepared By:
McMillan Rose & Co Ltd
Chartered Certified Accountants
Haltgate House
52A Hullbridge Road
South Woodham Ferrers
Essex
CM3 5NH
BMAF SERVICES LIMITED
ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2024
DIRECTORS
Mr Peter Kennedy
Mr Harold Alexander Rowe
Dr Martin Wilkinson
SECRETARY
Mr Peter Kennedy
REGISTERED OFFICE
167-169 Great Portland Street
5th Floor
London
W1W 5PF
COMPANY DETAILS
Private company limited by guarantee registered in EW - England and Wales, registered number 11736307
ACCOUNTANTS
McMillan Rose & Co Ltd
Chartered Certified Accountants
Haltgate House
52A Hullbridge Road
South Woodham Ferrers
Essex
CM3 5NH
BMAF SERVICES LIMITED
ACCOUNTS
FOR THEYEARENDED31 MAY 2024
CONTENTS
Page
Directors' Report-
Accountants' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts4
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-
BMAF SERVICES LIMITED
BALANCE SHEET AT 31 May 2024
20242023
Notes££
FIXED ASSETS
Tangible assets3267-
CURRENT ASSETS
Stock45,6665,824
Debtors511,9513,792
Cash at bank and in hand15,8307,952
33,44717,568
CREDITORS: Amounts falling due within one year618,3184,537
NET CURRENT ASSETS15,12913,031
TOTAL ASSETS LESS CURRENT LIABILITIES15,39613,031
RESERVES
Profit and loss account15,39613,031
MEMBERS' FUNDS15,39613,031
For the year ending 31 May 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 20 December 2024 and signed on their behalf by
.............................
Mr Peter Kennedy
Director
BMAF SERVICES LIMITED
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2024
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
1b. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Equipmentstraight line 33.3%
1c. Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.
1d. Other Operating Income
Other operating income comprises grants from BMAF to the company to cover excess expenditure incurred in certain areas such as international events and IT development costs.
2. EMPLOYEES
20242023
No.No.
Average number of employees--
BMAF SERVICES LIMITED
3. TANGIBLE FIXED ASSETS
Plant and
Machinery Etc.Total
££
Cost
Additions356356
At 31 May 2024356356
Depreciation
For the year8989
At 31 May 20248989
Net Book Amounts
At 31 May 2024267267
4. STOCK 20242023
££
Stock comprises:
Stock of medals5,6665,824
5,6665,824
5. DEBTORS 20242023
££
Amounts falling due within one year:
Trade debtors6953,792
Other debtors11,256-
11,9513,792
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20242023
££
Trade creditors3,1311,966
Other creditors15,1872,571
18,3184,537
BMAF SERVICES LIMITED
7. PRIOR PERIOD ERRORS
In prior years, grants received from BMAF were recognised within Other Reserves on the Balance Sheet, without being recognised through the Statement of Comprehensive Income. Such grants are received from BMAF to cover shortfalls in certain areas such as expenditure on international events and IT development costs.
The grants form a key part of the income of BMAF Services Limited and have enabled the company to continue as a going concern.
Whilst there is no legal obligation on BMAF to provide such grants, BMAF Services Limited only exists to deliver certain services stipulated in the constitution of BMAF. The grants help distribute a share of affiliation fees from Member Clubs that are paid into BMAF, which itself has minimal direct expenditure. The directors believe that such grants should now be recognised through the Statement of Comprehensive Income as Other Operating Income and this change has been applied for the year ended 31st May 2024. This treatment has also been applied retrospectively and consequently the comparative figures for the prior year ended 31st May 2023 have been restated.