REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 June 2024 |
for |
BMZ Dynamix Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 June 2024 |
for |
BMZ Dynamix Limited |
BMZ Dynamix Limited (Registered number: SC508254) |
Contents of the Financial Statements |
for the Year Ended 30 June 2024 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
BMZ Dynamix Limited |
Company Information |
for the Year Ended 30 June 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Monument House |
215 Marsh Road |
Pinner |
HA5 5NE |
BMZ Dynamix Limited (Registered number: SC508254) |
Abridged Balance Sheet |
30 June 2024 |
30.6.24 | 30.6.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
Investment property | 6 |
CURRENT ASSETS |
Stocks |
Debtors |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
Fair value reserve | 7 |
Retained earnings |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
BMZ Dynamix Limited (Registered number: SC508254) |
Abridged Balance Sheet - continued |
30 June 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
BMZ Dynamix Limited (Registered number: SC508254) |
Notes to the Financial Statements |
for the Year Ended 30 June 2024 |
1. | STATUTORY INFORMATION |
BMZ Dynamix Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Intangible fixed assets - brand fees |
Brand fees are initially measured at cost. After initial recognition, brand fees have been measured at cost less any accumulated amoritsation and any accumulated impairment losses. |
Brand fees are being amortised evenly over their estimated useful life of five years. |
Intangible investment - cryptocurrencies |
Cryptocurrencies have been recognised at cost and subsequently measured using the revaluation model, whereby the class of asset is revalued using the market rate as at the balance sheet date. Revaluation model has been adopted by the company because these investments have an active market. |
Cryptocurrencies are not amortised because the company does not believe that the asset is suitable for amortisation. |
If the carrying value of the asset class is increased as a result of a revaluation, the increase shall be recognised in other comprehensive income and accumulated in equity. However, the increase recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. |
The decrease in the carrying value (impairment) as a result of a revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated inequity. If a revaluation decrease exceeds the accumulated revaluation gains recognised in equity, the excess is recognised in profit and loss. |
Tangible fixed assets |
Plant and machinery etc | - |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
BMZ Dynamix Limited (Registered number: SC508254) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 July 2023 |
and 30 June 2024 |
AMORTISATION |
At 1 July 2023 |
Amortisation for year |
Impairments |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
5. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 July 2023 |
Additions |
At 30 June 2024 |
DEPRECIATION |
At 1 July 2023 |
Charge for year |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
BMZ Dynamix Limited (Registered number: SC508254) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 July 2023 |
Revaluations | 25,000 |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
Freehold properties were valued on an open market basis on 30 June 2024 by a director of the company. |
Fair value at 30 June 2024 is represented by: |
£ |
Valuation in 2020 | 15,802 |
Valuation in 2021 | 35,000 |
Valuation in 2022 | 23,396 |
Valuation in 2023 | 1,604 |
Valuation in 2024 | 25,000 |
Cost | 499,198 |
600,000 |
7. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 July 2023 |
Transfers | 18,750 |
At 30 June 2024 |
8. | RELATED PARTY DISCLOSURES |
As of 30 June 2024, the company had a payable balance of £4,201 to a director, compared to £4,201 as of the previous year. These loan was unsecured, bore no interest, and were payable on demand. |
Additionally, at the year-end, the company held receivables amounting to £2,688,751from entities under the common control of the director or their associates, a decrease from £2,798,831in the prior year. These loans were unsecured, bore no interest, and were repayable on demand. |
Furthermore, during the year, the company levied a management fee of £2,400 (2022: £2,400) on an entity under common control. |