Registered number: 11736307 | ||||||||
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 | ||||||||
SECRETARY | ||||||||
REGISTERED OFFICE | ||||||||
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 Sheet | 3 | |||||||
Notes To The Accounts | 4 | |||||||
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 | ||||||||||
2024 | 2023 | |||||||||
Notes | £ | £ | ||||||||
FIXED ASSETS | ||||||||||
Tangible assets | 3 | |||||||||
CURRENT ASSETS | ||||||||||
Stock | 4 | |||||||||
Debtors | 5 | |||||||||
Cash at bank and in hand | ||||||||||
33,447 | 17,568 | |||||||||
CREDITORS: Amounts falling due within one year | 6 | |||||||||
NET CURRENT ASSETS | 13,031 | |||||||||
TOTAL ASSETS LESS CURRENT LIABILITIES | ||||||||||
RESERVES | ||||||||||
Profit and loss account | 15,396 | 13,031 | ||||||||
MEMBERS' FUNDS | ||||||||||
Approved by the board on | ||||||||||
............................. | ||||||||||
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 | ||||||||
Equipment | straight 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 | ||||||
2024 | 2023 | |||||
No. | No. | |||||
Average number of employees | - | |||||
BMAF SERVICES LIMITED | ||||||||
3. TANGIBLE FIXED ASSETS | ||||
Plant and | ||||
Machinery Etc. | Total | |||
£ | £ | |||
Cost | ||||
Additions | 356 | 356 | ||
At 31 May 2024 | 356 | 356 | ||
Depreciation | ||||
For the year | 89 | 89 | ||
At 31 May 2024 | 89 | 89 | ||
Net Book Amounts | ||||
At 31 May 2024 | 267 | 267 | ||
4. STOCK | 2024 | 2023 | ||||
£ | £ | |||||
Stock comprises: | ||||||
Stock of medals | ||||||
5. DEBTORS | 2024 | 2023 | ||||||
£ | £ | |||||||
Amounts falling due within one year: | ||||||||
Trade debtors | 695 | 3,792 | ||||||
Other debtors | 11,256 | - | ||||||
11,951 | 3,792 | |||||||
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
2024 | 2023 | |||||||
£ | £ | |||||||
Trade creditors | 3,131 | 1,966 | ||||||
Other creditors | 15,187 | 2,571 | ||||||
18,318 | 4,537 | |||||||
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. |