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REGISTERED NUMBER: 06961967 (England and Wales)















BPM SFX LIMITED

Unaudited Financial Statements

for the Year Ended 31 July 2024






BPM SFX LIMITED (REGISTERED NUMBER: 06961967)

Contents of the Financial Statements
for the year ended 31 July 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BPM SFX LIMITED

Company Information
for the year ended 31 July 2024







Directors: L M Haswell
A G Murray





Registered office: Oakmill Manchester Road
Dunnockshaw
Burnley
BB11 5PW





Registered number: 06961967 (England and Wales)





Accountants: Cooper Parry Advisory Limited
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA

BPM SFX LIMITED (REGISTERED NUMBER: 06961967)

Balance Sheet
31 July 2024

2024 2023
Notes £ £
Fixed assets
Intangible assets 4 93,625 140,437
Tangible assets 5 3,759,107 3,704,869
3,852,732 3,845,306

Current assets
Stocks 339,011 324,824
Debtors 6 925,208 865,579
Cash at bank and in hand 277,772 703,241
1,541,991 1,893,644
Creditors
Amounts falling due within one year 7 (1,935,936 ) (1,751,985 )
Net current (liabilities)/assets (393,945 ) 141,659
Total assets less current liabilities 3,458,787 3,986,965

Creditors
Amounts falling due after more than one
year

8

(1,085,761

)

(1,593,564

)

Provisions for liabilities 11 (619,542 ) (267,000 )
Net assets 1,753,484 2,126,401

Capital and reserves
Called up share capital 12 100 100
Revaluation reserve 13 724,753 724,753
Retained earnings 13 1,028,631 1,401,548
Shareholders' funds 1,753,484 2,126,401

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

BPM SFX LIMITED (REGISTERED NUMBER: 06961967)

Balance Sheet - continued
31 July 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 April 2025 and were signed on its behalf by:




A G Murray - Director



L M Haswell - Director


BPM SFX LIMITED (REGISTERED NUMBER: 06961967)

Notes to the Financial Statements
for the year ended 31 July 2024


1. Statutory information

BPM SFX 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 as modified by the revaluation of certain assets.

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

Turnover comprises the fair value of the consideration received or receivable for the sales of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured.
it is probable that future economic benefits will flow to the entity:
and specific criteria have been met for each of the company's activites.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2023, is being amortised evenly over its estimated useful life of four years.

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.
Freehold property - 2% on cost
Long leasehold - no depreciation charged
Plant and machinery - 25% on cost and 25% on reducing balance
Fixtures and fittings - 10% on cost and 25% on reducing balance
Motor vehicles - 25% on cost and 25% on reducing balance

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.

BPM SFX LIMITED (REGISTERED NUMBER: 06961967)

Notes to the Financial Statements - continued
for the year ended 31 July 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 currencies
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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 31 (2023 - 24 ) .

4. Intangible fixed assets
Goodwill
£
Cost
At 1 August 2023
and 31 July 2024 187,250
Amortisation
At 1 August 2023 46,813
Amortisation for year 46,812
At 31 July 2024 93,625
Net book value
At 31 July 2024 93,625
At 31 July 2023 140,437

BPM SFX LIMITED (REGISTERED NUMBER: 06961967)

Notes to the Financial Statements - continued
for the year ended 31 July 2024


5. Tangible fixed assets
Freehold Long Plant and
property leasehold machinery
£ £ £
Cost or valuation
At 1 August 2023 1,000,000 - 4,489,686
Additions - 187,000 779,645
Disposals - - (40,421 )
Reclassification/transfer (187,000 ) - -
At 31 July 2024 813,000 187,000 5,228,910
Depreciation
At 1 August 2023 - - 1,978,563
Charge for year 16,260 - 702,172
Eliminated on disposal - - (26,532 )
At 31 July 2024 16,260 - 2,654,203
Net book value
At 31 July 2024 796,740 187,000 2,574,707
At 31 July 2023 1,000,000 - 2,511,123

Fixtures
and Motor
fittings vehicles Totals
£ £ £
Cost or valuation
At 1 August 2023 78,155 196,230 5,764,071
Additions 12,612 57,668 1,036,925
Disposals - (10,000 ) (50,421 )
Reclassification/transfer - - (187,000 )
At 31 July 2024 90,767 243,898 6,563,575
Depreciation
At 1 August 2023 38,753 41,886 2,059,202
Charge for year 11,386 45,313 775,131
Eliminated on disposal - (3,333 ) (29,865 )
At 31 July 2024 50,139 83,866 2,804,468
Net book value
At 31 July 2024 40,628 160,032 3,759,107
At 31 July 2023 39,402 154,344 3,704,869

BPM SFX LIMITED (REGISTERED NUMBER: 06961967)

Notes to the Financial Statements - continued
for the year ended 31 July 2024


5. Tangible fixed assets - continued

Cost or valuation at 31 July 2024 is represented by:

Freehold Long Plant and
property leasehold machinery
£ £ £
Cost 813,000 187,000 5,228,910

Fixtures
and Motor
fittings vehicles Totals
£ £ £
Cost 90,767 243,898 6,563,575

6. Debtors: amounts falling due within one year
2024 2023
£ £
Trade debtors 714,737 759,710
Other debtors 210,471 105,869
925,208 865,579

7. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 34,144 34,143
Hire purchase contracts (see note 9) 332,162 222,608
Trade creditors 264,288 351,931
Taxation and social security 170,186 120,448
Other creditors 1,135,156 1,022,855
1,935,936 1,751,985

8. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans 689,153 722,805
Hire purchase contracts (see note 9) 396,608 470,759
Other creditors - 400,000
1,085,761 1,593,564

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 525,257 558,910

BPM SFX LIMITED (REGISTERED NUMBER: 06961967)

Notes to the Financial Statements - continued
for the year ended 31 July 2024


9. Leasing agreements

Minimum lease payments under hire purchase fall due as follows:

2024 2023
£ £
Net obligations repayable:
Within one year 332,162 222,608
Between one and five years 396,608 470,759
728,770 693,367

10. Secured debts

The following secured debts are included within creditors:

2024 2023
£ £
Bank loans 723,297 756,948

Barclays Bank PLC holds a fixed charge, floating charge and negative pledge over the assets of the company.

11. Provisions for liabilities
2024 2023
£ £
Deferred tax
Accelerated capital allowances 619,542 267,000

Deferred tax
£
Balance at 1 August 2023 267,000
Provided during year 352,542
Balance at 31 July 2024 619,542

12. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
100 Ordinary £1 100 100

BPM SFX LIMITED (REGISTERED NUMBER: 06961967)

Notes to the Financial Statements - continued
for the year ended 31 July 2024


13. Reserves
Retained Revaluation
earnings reserve Totals
£ £ £

At 1 August 2023 1,401,548 724,753 2,126,301
Deficit for the year (372,917 ) (372,917 )
At 31 July 2024 1,028,631 724,753 1,753,384

14. Directors' advances, credits and guarantees

As at the balance sheet date the company owed the director a sum of £26,252 (2023: £5,471).