BID MASTERS LTD

Company Registration Number:
03115226 (England and Wales)

Unaudited statutory accounts for the year ended 31 May 2024

Period of accounts

Start date: 01 June 2023

End date: 31 May 2024

BID MASTERS LTD

Contents of the Financial Statements

for the Period Ended 31 May 2024

Company Information - 3
Balance sheet - 4
Additional notes - 6
Balance sheet notes - 9

BID MASTERS LTD

Company Information

for the Period Ended 31 May 2024




Director: Peter Coyle
Hannah Oliver
David Coyle
Robert George
Registered office: Unit 11
Dukes Court
Chichester
West Sussex
England
PO19 8FX
Company Registration Number: 03115226 (England and Wales)

BID MASTERS LTD

Balance sheet

As at 31 May 2024


Notes

2024
£

2023
£
Fixed assets
Intangible assets: 4 7,080 5,860
Tangible assets: 5 2,770 2,054
Total fixed assets: 9,850 7,914
Current assets
Stocks: 0 0
Debtors: 6 44,578 139,966
Cash at bank and in hand: 78,270 64,179
Total current assets: 122,848 204,145
Prepayments and accrued income: 0 0
Creditors: amounts falling due within one year: 7 ( 56,065 ) ( 80,298 )
Net current assets (liabilities): 66,783 123,847
Total assets less current liabilities: 76,633 131,761
Creditors: amounts falling due after more than one year: 8 ( 34,815 ) ( 40,209 )
Provision for liabilities: ( 0 ) ( 0 )
Accruals and deferred income: ( 0 ) ( 0 )
Total net assets (liabilities): 41,818 91,552

The notes form part of these financial statements

BID MASTERS LTD

Balance sheet continued

As at 31 May 2024


Notes

2024
£

2023
£
Capital and reserves
Called up share capital: 1,000 1,000
Revaluation reserve: 9 0 0
Profit and loss account: 40,818 90,552
Shareholders funds: 41,818 91,552

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.

This report was approved by the board of directors on 26 February 2025
And Signed On Behalf Of The Board By:

Name: Peter Coyle
Status: Director

The notes form part of these financial statements

BID MASTERS LTD

Notes to the Financial Statements

for the Period Ended 31 May 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are measured at cost or valuation, net of depreciation and any impairment losses.
    The cost of tangible assets initially recognised includes its purchase price and any cost that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in a manner intended by management.
    Depreciation is recognised so as to write of the cost or valuation of assets less their residual values over their useful lives on the following basis:
    Plant and equipment - 25% straight line
    Fixtures and Fittings - 33% straight line
    Computers - 33% straight line
    Motor vehicles - 25% reducing balance
    The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the assets, and is credited or charged to the profit and loss.

    Intangible fixed assets amortisation policy

    Intangible fixed assets are measured at cost or valuation, net of depreciation and any impairment losses.
    The cost of intangible assets initially recognised includes any costs that is directly attributable to bringing the asset to be capable of use in a manner intended by management. Amortisation is charged from when the asset is brought into use.
    Amortisation is recognised so as to write of the cost or valuation of assets less their residual values over their useful lives on the following basis:
    Franchise/Licence - 33% straight line
    Training courses - 10%/20% straight line
    The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the assets, and is credited or charged to the profit and loss.

BID MASTERS LTD

Notes to the Financial Statements

for the Period Ended 31 May 2024

  • 2. Employees


    2024

    2023
    Average number of employees during the period 4 4

    This includes one full time director, one part time director and two non-executive directors

BID MASTERS LTD

Notes to the Financial Statements

for the Period Ended 31 May 2024

  • 3. Off balance sheet disclosure

    No

BID MASTERS LTD

Notes to the Financial Statements

for the Period Ended 31 May 2024

4. Intangible assets

Other Total
Cost £ £
At 01 June 2023 13,527 13,527
Additions 2,289 2,289
Disposals ( 0 ) ( 0 )
Revaluations 0 0
Transfers 0 0
At 31 May 2024 15,816 15,816
Amortisation
Amortisation at 01 June 2023 7,667 7,667
Charge for year 1,069 1,069
On disposals ( 0 ) ( 0 )
Other adjustments 0 0
Amortisation at 31 May 2024 8,736 8,736
Net book value
Net book value at 31 May 2024 7,080 7,080
Net book value at 31 May 2023 5,860 5,860

BID MASTERS LTD

Notes to the Financial Statements

for the Period Ended 31 May 2024

5. Tangible assets

Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £
At 01 June 2023 3,842 0 5,618 1,000 10,460
Additions 0 1,818 890 0 2,708
Disposals ( 0 ) ( 0 ) ( 2,875 ) ( 0 ) ( 2,875 )
Revaluations 0 0 0 0 0
Transfers 0 0 0 0 0
At 31 May 2024 3,842 1,818 3,633 1,000 10,293
Depreciation
At 01 June 2023 3,467 0 4,689 250 8,406
Charge for year 375 606 761 250 1,992
On disposals ( 0 ) ( 0 ) ( 2,875 ) ( 0 ) ( 2,875 )
Other adjustments 0 0 0 0 0
At 31 May 2024 3,842 606 2,575 500 7,523
Net book value
At 31 May 2024 0 1,212 1,058 500 2,770
At 31 May 2023 375 0 929 750 2,054

BID MASTERS LTD

Notes to the Financial Statements

for the Period Ended 31 May 2024

6. Debtors


2024
£

2023
£
Trade debtors 41,528 137,041
Prepayments and accrued income 1,992 2,925
Other debtors 1,058 0
Total 44,578 139,966
Debtors due after more than one year: 0 0

BID MASTERS LTD

Notes to the Financial Statements

for the Period Ended 31 May 2024

7.Creditors: amounts falling due within one year note


2024
£

2023
£
Bank loans and overdrafts 0 0
Amounts due under finance leases and hire purchase contracts 0 0
Trade creditors 12,593 57,973
Taxation and social security 3,073 13,797
Accruals and deferred income 39,717 7,846
Other creditors 682 682
Total 56,065 80,298

BID MASTERS LTD

Notes to the Financial Statements

for the Period Ended 31 May 2024

8.Creditors: amounts falling due after more than one year


2024
£

2023
£
Bank loans and overdrafts 34,815 40,129
Amounts due under finance leases and hire purchase contracts 0 0
Other creditors 0 80
Total 34,815 40,209

BID MASTERS LTD

Notes to the Financial Statements

for the Period Ended 31 May 2024

9. Revaluation reserve


2024
£
Balance at 01 June 2023 0
Surplus or deficit after revaluation 0
Balance at 31 May 2024 0

BID MASTERS LTD

Notes to the Financial Statements

for the Period Ended 31 May 2024

10.1. Loans to Directors

Name of director receiving advance or credit: Peter Coyle
Description of the transaction:
During the year the company made the following interest free loans to directors, repayable by 31 January 2025.
Balance at 01 June 2023 ( 80 )
Advances or credits made: 1,138
Advances or credits repaid: 0
Balance at 31 May 2024 1,058