Acorah Software Products - Accounts Production 16.1.300 false true 31 July 2023 1 August 2022 false 1 August 2023 31 July 2024 31 July 2024 02403695 Mr Ronald Eagle Mrs Jayshree Tailor Mr Jayesh Tailor Mr Chhotalal Patel Mr Haroon Atchia Mr Chhotalal Patel iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 02403695 2023-07-31 02403695 2024-07-31 02403695 2023-08-01 2024-07-31 02403695 frs-core:CurrentFinancialInstruments 2024-07-31 02403695 frs-core:Non-currentFinancialInstruments 2024-07-31 02403695 frs-core:ComputerEquipment 2023-08-01 2024-07-31 02403695 frs-core:FurnitureFittings 2023-08-01 2024-07-31 02403695 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-07-31 02403695 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 02403695 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-07-31 02403695 frs-core:MotorVehicles 2024-07-31 02403695 frs-core:MotorVehicles 2023-08-01 2024-07-31 02403695 frs-core:MotorVehicles 2023-07-31 02403695 frs-core:PlantMachinery 2024-07-31 02403695 frs-core:PlantMachinery 2023-08-01 2024-07-31 02403695 frs-core:PlantMachinery 2023-07-31 02403695 frs-core:ShareCapital 2024-07-31 02403695 frs-core:RetainedEarningsAccumulatedLosses 2024-07-31 02403695 frs-bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 02403695 frs-bus:FilletedAccounts 2023-08-01 2024-07-31 02403695 frs-bus:SmallEntities 2023-08-01 2024-07-31 02403695 frs-bus:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 02403695 frs-bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 02403695 frs-core:CostValuation 2023-07-31 02403695 frs-core:CostValuation 2024-07-31 02403695 frs-core:ProvisionsForImpairmentInvestments 2023-07-31 02403695 frs-core:ProvisionsForImpairmentInvestments 2024-07-31 02403695 frs-bus:Director1 2023-08-01 2024-07-31 02403695 frs-bus:Director2 2023-08-01 2024-07-31 02403695 frs-bus:Director3 2023-08-01 2024-07-31 02403695 frs-bus:Director4 2023-08-01 2024-07-31 02403695 frs-bus:Director5 2023-08-01 2024-07-31 02403695 frs-bus:CompanySecretary1 2023-08-01 2024-07-31 02403695 frs-countries:EnglandWales 2023-08-01 2024-07-31 02403695 2022-07-31 02403695 2023-07-31 02403695 2022-08-01 2023-07-31 02403695 frs-core:CurrentFinancialInstruments 2023-07-31 02403695 frs-core:Non-currentFinancialInstruments 2023-07-31 02403695 frs-core:ShareCapital 2023-07-31 02403695 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31
Registered number: 02403695
BVM Medical Limited
Unaudited Financial Statements
For The Year Ended 31 July 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—8
Page 1
Balance Sheet
Registered number: 02403695
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 370,120 356,196
Investments 5 958,336 958,336
1,328,456 1,314,532
CURRENT ASSETS
Stocks 2,044,628 2,242,508
Debtors 6 1,406,529 967,652
Investments 7 1,912,456 1,913,065
Cash at bank and in hand 360,688 208,873
5,724,301 5,332,098
Creditors: Amounts Falling Due Within One Year 8 (2,453,955 ) (1,974,315 )
NET CURRENT ASSETS (LIABILITIES) 3,270,346 3,357,783
TOTAL ASSETS LESS CURRENT LIABILITIES 4,598,802 4,672,315
Creditors: Amounts Falling Due After More Than One Year 9 (9,086 ) (17,087 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (54,205 ) (41,646 )
NET ASSETS 4,535,511 4,613,582
CAPITAL AND RESERVES
Called up share capital 10 49,600 49,600
Profit and Loss Account 4,485,911 4,563,982
SHAREHOLDERS' FUNDS 4,535,511 4,613,582
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For the year ending 31 July 2024 the company was entitled to exemption from audit 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 company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Jayesh Tailor
Director
22 October 2024
The notes on pages 3 to 7 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
BVM Medical Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02403695 . The registered office is B V M House, Trinity Lane, Hinckley, Leicestershire, LE10 0BL.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 4% on cost of buildings
Plant & Machinery 15% reducing balance
Motor Vehicles 15% reducing balance
Fixtures & Fittings 15% reducing balance
Computer Equipment 15% reducing balance
Included in cost of land and buildings is freehold land of £38,000 (2023: £38,000) which is not depreciated.
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
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2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.7. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.8. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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2.9. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.10. Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
2.11. Debtors & Creditors
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2.12. Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 22 (2023: 20)
22 20
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Total
£ £ £ £
Cost
As at 1 August 2023 238,000 300,763 269,580 808,343
Additions - 27,679 180,015 207,694
Disposals - (7,582 ) (90,500 ) (98,082 )
As at 31 July 2024 238,000 320,860 359,095 917,955
...CONTINUED
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Depreciation
As at 1 August 2023 174,037 151,572 126,538 452,147
Provided during the period 8,007 74,217 90,544 172,768
Disposals - (5,481 ) (71,599 ) (77,080 )
As at 31 July 2024 182,044 220,308 145,483 547,835
Net Book Value
As at 31 July 2024 55,956 100,552 213,612 370,120
As at 1 August 2023 63,963 149,191 143,042 356,196
5. Investments
Other
£
Cost
As at 1 August 2023 958,336
As at 31 July 2024 958,336
Provision
As at 1 August 2023 -
As at 31 July 2024 -
Net Book Value
As at 31 July 2024 958,336
As at 1 August 2023 958,336
Other investments:
All investments are unlisted in Shakti Group, Africa Outlook (Zambia) Ltd and Africa Outlook (UK) Ltd.
The market value of the unlisted investments cannot be reliably measured.
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 943,081 433,732
Prepayments and accrued income 42,319 44,574
Other debtors 421,129 489,346
1,406,529 967,652
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7. Current Asset Investments
2024 2023
£ £
Unlisted investments 1,912,456 1,913,065
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 5,061
Trade creditors 1,641,792 1,237,824
Bank loans and overdrafts 9,996 9,996
Other taxes and social security 57,733 64,898
Other creditors 308,841 247,217
Accruals and deferred income 435,593 409,319
2,453,955 1,974,315
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 9,086 17,087
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 49,600 49,600
11. Related Party Transactions
Directors Loans
The director loans are repayable on demand.
The overdrawn balance on the directors loan account as at 31 July 2024 was £72,469 (2023: £142,397) and is included within other debtors. Amount due from the related party is £72,469.
Interest has been charged on the directors overdrawn account at HMRC's official rate of 2.25%.
Greatbrisk Ltd and Fairways Projects Ltd
Promissory notes in favour of the company by Greatbrisk Ltd and Fairways Projects Ltd were held by the company at the year end. Mr R A Eagle, a non-executive director was also a director of these companies.
Shri Shakti Resorts & Hotels Ltd
The director Mr C C Patel is also a director in Shri Shakti Resort & Hotels Ltd. The company holds a minority shareholding in this company valued at a cost of £320,203 (2023: £320,203). 
Jalasi Ltd
...CONTINUED
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11. Related Party Transactions - continued
During the year Mr J D Tailor and Mr R A Eagle have acted as directors for Jalasi Ltd. The directors consider BVM Medical Ltd to be the controlling party of Jalasi Ltd by virtue of the investment held in the company.
Africa Outlook (Zambia)
During the year Mr J D Tailor and Mr R A Eagle have acted as directors for Africa Outlook. 
The company had a loan outstanding of £145,865 (2023: £145,865), due from Africa Outlook (Zambia) as at the year end. The loan is free of interest and is repayable on demand.
The directors consider BVM Medical Ltd to be the controlling party of Africa Outlook. 
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