Caseware UK (AP4) 2024.0.164 2024.0.164 4The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.falsetrue22023-08-01falseNo description of principal activitytrue 14224034 2023-08-01 2024-07-31 14224034 2022-07-08 2023-07-31 14224034 2024-07-31 14224034 2023-07-31 14224034 c:Director2 2023-08-01 2024-07-31 14224034 d:FreeholdInvestmentProperty 2023-08-01 2024-07-31 14224034 d:FreeholdInvestmentProperty 2024-07-31 14224034 d:CurrentFinancialInstruments 2024-07-31 14224034 d:CurrentFinancialInstruments 2023-07-31 14224034 d:CurrentFinancialInstruments d:WithinOneYear 2024-07-31 14224034 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 14224034 d:ShareCapital 2024-07-31 14224034 d:ShareCapital 2023-07-31 14224034 d:RetainedEarningsAccumulatedLosses 2024-07-31 14224034 d:RetainedEarningsAccumulatedLosses 2023-07-31 14224034 c:FRS102 2023-08-01 2024-07-31 14224034 c:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 14224034 c:FullAccounts 2023-08-01 2024-07-31 14224034 c:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 14224034 e:PoundSterling 2023-08-01 2024-07-31 iso4217:GBP xbrli:pure

Registered number: 14224034










Bermuda AAM Ltd








Unaudited

Financial statements

Information for filing with the registrar

For the period ended 31 July 2024

 
Bermuda AAM Ltd
 
  
Chartered accountants' report to the board of directors on the preparation of the unaudited statutory financial statements of Bermuda AAM Ltd for the period ended 31 July 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Bermuda AAM Ltd for the period ended 31 July 2024 which comprise  the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of Bermuda AAM Ltd, as a body, in accordance with the terms of our engagement letter dated 16 October 2023Our work has been undertaken solely to prepare for your approval the financial statements of Bermuda AAM Ltd  and state those matters that we have agreed to state to the Board of directors of Bermuda AAM Ltd, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Bermuda AAM Ltd and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Bermuda AAM Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Bermuda AAM Ltd. You consider that Bermuda AAM Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or review of the financial statements of Bermuda AAM Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Kreston Reeves LLP
 
Chartered Accountants
  
37 St Margaret's Street
Canterbury
Kent
CT1 2TU
28 April 2025
Page 1

 
Bermuda AAM Ltd
Registered number: 14224034

Balance sheet
As at 31 July 2024

2024
2023
£
£

Fixed assets

Investment property
260,964
-

260,964
-

Current assets

Debtors
-
12,872

Cash at bank and in hand
2,426
63,572

2,426
76,444

Creditors: amounts falling due within one year
(272,679)
(78,993)

Net current liabilities
 
 
(270,253)
 
 
(2,549)

Total assets less current liabilities
(9,289)
(2,549)


Net liabilities
(9,289)
(2,549)


Capital and reserves

Called up share capital 
120
120

Profit and loss account
(9,409)
(2,669)

(9,289)
(2,549)


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 April 2025.




A Jain
Director

The notes on pages 3 to 5 form part of these financial statements.

Page 2

 
Bermuda AAM Ltd
 

 
Notes to the financial statements
For the period ended 31 July 2024

1.


General information

Bermuda AAM Ltd is a private company limited by shares which was incorporated in Engalnd. 
The company's registered office is 94 Rewley Road, Oxford, OX1 2RQ.
The financial statements are presented in Pounds Sterling, and rounded to the nearest pound.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

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. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

Page 3

 
Bermuda AAM Ltd
 

 
Notes to the financial statements
For the period ended 31 July 2024

2.Accounting policies (continued)

 
2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.5

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. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.6

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including the directors, during the period was as follows:


        31 July
         31 July
        2024
        2023
            No.
            No.







Directors
4
2


4.


Investment property


Freehold investment property

£



Valuation


Additions at cost
260,964



At 31 July 2024
260,964

The 2024 valuations were made by the directors, on an open market value for existing use basis.







Page 4

 
Bermuda AAM Ltd
 

 
Notes to the financial statements
For the period ended 31 July 2024

5.


Creditors: Amounts falling due within one year

2024
2023
£
£

Amounts owed to group companies
-
1,164

Other creditors
270,939
76,629

Accruals and deferred income
1,740
1,200

272,679
78,993



Page 5