REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2024 |
FOR |
BMG ADVISORS UK LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2024 |
FOR |
BMG ADVISORS UK LIMITED |
BMG ADVISORS UK LIMITED (REGISTERED NUMBER: 10823225) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2024 |
Page |
Balance sheet | 1 |
Notes to the financial statements | 3 |
BMG ADVISORS UK LIMITED (REGISTERED NUMBER: 10823225) |
BALANCE SHEET |
30 JUNE 2024 |
2024 | 2023 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank | 6 |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
BMG ADVISORS UK LIMITED (REGISTERED NUMBER: 10823225) |
BALANCE SHEET - continued |
30 JUNE 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
BMG ADVISORS UK LIMITED (REGISTERED NUMBER: 10823225) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2024 |
1. | STATUTORY INFORMATION |
The company is a private company limited by shares which is incorporated and domiciled in the UK. The address of the company's registered office is 55 Ludgate Hill, London, EC4M 7JW. |
The company's principle activity is that of a management consultancy activities. The directors plan to close the company soon. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going Concern |
The financial statements have been prepared on a non-going concern basis, which assumes that the company will not continue its operations for the foreseeable future. The directors have assessed the company's financial position and have concluded that there are significant uncertainties that cast substantial doubt on the company's ability to continue as a going concern. As a result, the financial statements have been prepared on a break-up basis, where assets are valued at their net realisable value and liabilities are recognised as they become due. |
Tangible fixed assets |
Office equipment | - |
Taxation |
Tax is recognised in profit or loss. |
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income. |
BMG ADVISORS UK LIMITED (REGISTERED NUMBER: 10823225) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2024 |
2. | ACCOUNTING POLICIES - continued |
Foreign currencies |
Functional and presentational currency |
The Company's functional and presentational currency is GBP. |
Transactions and balances |
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. |
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction. |
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of income and retained earnings. |
Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'administration expenses'. |
Revenue recognition |
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Revenue from consultancy fees are recognised as the services are provided. |
Interest Income |
Interest income is recognised in profit or loss using the effective interest method. |
Debtors |
Short term debtors are measured at transaction price, less any impairment. |
Cash and cash equivalents |
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
BMG ADVISORS UK LIMITED (REGISTERED NUMBER: 10823225) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2024 |
4. | TANGIBLE FIXED ASSETS |
Office |
equipment |
£ |
COST |
At 1 July 2023 |
and 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 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Directors' loan accounts | 4,317 | - |
Called up share capital not paid |
Prepayments |
6. | CASH AT BANK |
2024 | 2023 |
£ | £ |
Bank account GBP | 3,170 | 1,415 |
Bank account USD | - | 22,559 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Corporation tax |
Accruals |
Accrued expenses |
BMG ADVISORS UK LIMITED (REGISTERED NUMBER: 10823225) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2024 |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
A Ordinary | 1 | 90 | 90 |
B Ordinary | 1 | 10 | 10 |
100 | 100 |
9. | RELATED PARTY DISCLOSURES |
At the year end, £4,317 (2023: £nil) was owed to the company jointly by the directors. This amount was interest free and repayable on demand. |