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REGISTERED NUMBER: 12475630 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

BMS TECHNOLOGY SALES LIMITED

BMS TECHNOLOGY SALES LIMITED (REGISTERED NUMBER: 12475630)

Contents of the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BMS TECHNOLOGY SALES LIMITED

Company Information
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: D R Carroll
T Cuthbert
D Murray





REGISTERED OFFICE: 4th Floor St. James House
St. James' Square
Cheltenham
Gloucestershire
GL50 3PR





REGISTERED NUMBER: 12475630 (England and Wales)





ACCOUNTANTS: Crowe U.K. LLP
4th Floor
St James House
St James Square
Cheltenham
Gloucestershire
GL50 3PR

BMS TECHNOLOGY SALES LIMITED (REGISTERED NUMBER: 12475630)

Balance Sheet
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 603,869 758,561
Property, plant and equipment 5 12,353 4,983
Investments 6 19,255 19,255
635,477 782,799

CURRENT ASSETS
Debtors 7 133,656 165,216
Cash at bank 210,714 553,758
344,370 718,974
CREDITORS
Amounts falling due within one year 8 447,802 646,942
NET CURRENT (LIABILITIES)/ASSETS (103,432 ) 72,032
TOTAL ASSETS LESS CURRENT
LIABILITIES

532,045

854,831

CREDITORS
Amounts falling due after more than
one year

9

(573,482

)

(689,629

)

PROVISIONS FOR LIABILITIES (33,333 ) -
NET (LIABILITIES)/ASSETS (74,770 ) 165,202

BMS TECHNOLOGY SALES LIMITED (REGISTERED NUMBER: 12475630)

Balance Sheet - continued
31 MARCH 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (74,870 ) 165,102
SHAREHOLDERS' FUNDS (74,770 ) 165,202

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 November 2024 and were signed on its behalf by:





D R Carroll - Director


BMS TECHNOLOGY SALES LIMITED (REGISTERED NUMBER: 12475630)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

BMS Technology Sales Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The directors consider that in preparing the financial statements they have taken into account all information available, and on this basis the financial statements are prepared on a going concern basis.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer's interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the Statement of income and retained earnings over its useful economic life of 8 years. This is the deemed longevity of the goodwill acquired.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost
Computer equipment - 20% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

BMS TECHNOLOGY SALES LIMITED (REGISTERED NUMBER: 12475630)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 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.

Foreign currency translation
Functional and presentation 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 and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

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 profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss with 'other operating income'.

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 10 (2023 - 10 ) .

BMS TECHNOLOGY SALES LIMITED (REGISTERED NUMBER: 12475630)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 1,230,614
AMORTISATION
At 1 April 2023 472,053
Amortisation for year 154,692
At 31 March 2024 626,745
NET BOOK VALUE
At 31 March 2024 603,869
At 31 March 2023 758,561

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2023 1,602 12,363 13,965
Additions - 12,164 12,164
At 31 March 2024 1,602 24,527 26,129
DEPRECIATION
At 1 April 2023 240 8,742 8,982
Charge for year 533 4,261 4,794
At 31 March 2024 773 13,003 13,776
NET BOOK VALUE
At 31 March 2024 829 11,524 12,353
At 31 March 2023 1,362 3,621 4,983

BMS TECHNOLOGY SALES LIMITED (REGISTERED NUMBER: 12475630)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024


6. FIXED ASSET INVESTMENTS
Unlisted
investments
£   
COST
At 1 April 2023
and 31 March 2024 19,255
NET BOOK VALUE
At 31 March 2024 19,255
At 31 March 2023 19,255

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 34,827 117,831
Other debtors 98,829 47,385
133,656 165,216

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other loans (see note 10) 113,354 182,607
Trade creditors 79,956 44,938
Social security and other taxes 217,515 299,108
Other creditors 25,977 68,017
Accruals and deferred income 11,000 52,272
447,802 646,942

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Other loans (see note 10) 573,482 689,629

Amounts falling due in more than five years:

Repayable by instalments
Other loans more than 5yrs
repayable by installments - 179,716
- 179,716

BMS TECHNOLOGY SALES LIMITED (REGISTERED NUMBER: 12475630)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024


9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued

The amounts repayable after more than five years after the balance sheet date is repayable monthly, by installment, is interest free and is unsecured.

10. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Other loans 113,354 182,607

Amounts falling due between one and two years:
Other loans - 1-2 years 122,321 113,354

Amounts falling due between two and five years:
Other loans - 2-5 years 451,161 396,559

Amounts falling due in more than five years:

Repayable by instalments
Other loans more than 5yrs
repayable by installments - 179,716
- 179,716

11. RELATED PARTY DISCLOSURES

Included in debtors: amounts falling due within one year is a director’s loan accounts the sum of £10,863 which has been provided to one of the directors and will be repaid within 9 months after the year end.

Included in debtors: amounts falling due within one year is a loan to BMS Performance Inc, a connected company by virtue of common control, in the sum of £49,341 (2023: £4,401). The loan is unsecured, interest free and carries no fixed date of repayment.