11 false false false false false false false false false false true false false false false false false No description of principal activity 2023-09-01 Sage Accounts Production Advanced 2024 - FRS102_2024 35,000 35,000 132,536 12,323 21,891 166,750 166,750 132,536 xbrli:pure xbrli:shares iso4217:GBP SC329019 2023-09-01 2024-08-31 SC329019 2024-08-31 SC329019 2023-08-31 SC329019 2022-09-01 2023-08-31 SC329019 2023-08-31 SC329019 2022-08-31 SC329019 core:LandBuildings core:LongLeaseholdAssets 2023-09-01 2024-08-31 SC329019 core:FurnitureFittings 2023-09-01 2024-08-31 SC329019 core:MotorVehicles 2023-09-01 2024-08-31 SC329019 bus:LeadAgentIfApplicable 2023-09-01 2024-08-31 SC329019 bus:Director1 2023-09-01 2024-08-31 SC329019 core:NetGoodwill 2024-08-31 SC329019 core:LandBuildings core:LongLeaseholdAssets 2023-08-31 SC329019 core:FurnitureFittings 2023-08-31 SC329019 core:MotorVehicles 2023-08-31 SC329019 core:LandBuildings core:LongLeaseholdAssets 2024-08-31 SC329019 core:FurnitureFittings 2024-08-31 SC329019 core:MotorVehicles 2024-08-31 SC329019 core:WithinOneYear 2024-08-31 SC329019 core:WithinOneYear 2023-08-31 SC329019 core:AfterOneYear 2024-08-31 SC329019 core:AfterOneYear 2023-08-31 SC329019 core:ShareCapital 2024-08-31 SC329019 core:ShareCapital 2023-08-31 SC329019 core:RetainedEarningsAccumulatedLosses 2024-08-31 SC329019 core:RetainedEarningsAccumulatedLosses 2023-08-31 SC329019 core:CostValuation core:Non-currentFinancialInstruments 2023-08-31 SC329019 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2024-08-31 SC329019 core:Non-currentFinancialInstruments core:RevaluationsIncreaseDecreaseInInvestments 2024-08-31 SC329019 core:CostValuation core:Non-currentFinancialInstruments 2024-08-31 SC329019 core:Non-currentFinancialInstruments 2024-08-31 SC329019 core:Non-currentFinancialInstruments 2023-08-31 SC329019 core:LandBuildings core:LongLeaseholdAssets 2023-08-31 SC329019 core:FurnitureFittings 2023-08-31 SC329019 core:MotorVehicles 2023-08-31 SC329019 bus:SmallEntities 2023-09-01 2024-08-31 SC329019 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 SC329019 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 SC329019 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 SC329019 bus:FullAccounts 2023-09-01 2024-08-31
COMPANY REGISTRATION NUMBER: SC329019
B M Engineering Supplies Limited
Filleted Unaudited Financial Statements
31 August 2024
B M Engineering Supplies Limited
Financial Statements
Year ended 31 August 2024
Contents
Page
Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements
1
Statement of financial position
2
Notes to the financial statements
4
B M Engineering Supplies Limited
Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of B M Engineering Supplies Limited
Year ended 31 August 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 B M Engineering Supplies Limited for the year ended 31 August 2024, which comprise the statement of financial position 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 ICAS, we are subject to its ethical and other professional requirements which are detailed at www.icas.com/accountspreparationguidance. This report is made solely to the Board of Directors of B M Engineering Supplies Limited, as a body. Our work has been undertaken solely to prepare for your approval the financial statements of B M Engineering Supplies Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with the requirements of ICAS as detailed at www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than B M Engineering Supplies Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that B M Engineering Supplies Limited 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 profit of B M Engineering Supplies Limited. You consider that B M Engineering Supplies Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of B M Engineering Supplies Limited. 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.
GILLILAND & COMPANY Chartered Accountants
216 West George Street Glasgow G2 2PQ
12 March 2025
B M Engineering Supplies Limited
Statement of Financial Position
31 August 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
6
86,812
90,850
Investments
7
166,750
132,536
---------
---------
253,562
223,386
Current assets
Stocks
1,034,005
909,349
Debtors
8
585,010
419,653
Cash at bank and in hand
295,107
219,486
------------
------------
1,914,122
1,548,488
Creditors: amounts falling due within one year
9
656,336
718,780
------------
------------
Net current assets
1,257,786
829,708
------------
------------
Total assets less current liabilities
1,511,348
1,053,094
Creditors: amounts falling due after more than one year
10
7,500
16,678
------------
------------
Net assets
1,503,848
1,036,416
------------
------------
Capital and reserves
Called up share capital
2
2
Profit and loss account
1,503,846
1,036,414
------------
------------
Shareholders funds
1,503,848
1,036,416
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
B M Engineering Supplies Limited
Statement of Financial Position (continued)
31 August 2024
These financial statements were approved by the board of directors and authorised for issue on 12 March 2025 , and are signed on behalf of the board by:
Mr B Miller
Director
Company registration number: SC329019
B M Engineering Supplies Limited
Notes to the Financial Statements
Year ended 31 August 2024
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is Hilton House, 9-11 Hilton Terrace, Bishopbriggs, Glasgow, G64 3HB.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Operating leases
Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Property improvements
-
5% straight line
Fixtures and fittings
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 11 (2023: 10 ).
5. Intangible assets
Goodwill
£
Cost
At 1 September 2023 and 31 August 2024
35,000
--------
Amortisation
At 1 September 2023 and 31 August 2024
35,000
--------
Carrying amount
At 31 August 2024
--------
At 31 August 2023
--------
6. Tangible assets
Property improvements
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 September 2023
104,746
37,205
14,975
156,926
Additions
6,421
6,421
---------
--------
--------
---------
At 31 August 2024
104,746
43,626
14,975
163,347
---------
--------
--------
---------
Depreciation
At 1 September 2023
31,210
20,259
14,607
66,076
Charge for the year
5,237
5,130
92
10,459
---------
--------
--------
---------
At 31 August 2024
36,447
25,389
14,699
76,535
---------
--------
--------
---------
Carrying amount
At 31 August 2024
68,299
18,237
276
86,812
---------
--------
--------
---------
At 31 August 2023
73,536
16,946
368
90,850
---------
--------
--------
---------
7. Investments
Other investments other than loans
£
Cost
At 1 September 2023
132,536
Additions
12,323
Revaluations
21,891
---------
At 31 August 2024
166,750
---------
Impairment
At 1 September 2023 and 31 August 2024
---------
Carrying amount
At 31 August 2024
166,750
---------
At 31 August 2023
132,536
---------
8. Debtors
2024
2023
£
£
Trade debtors
573,709
419,653
Other debtors
11,301
---------
---------
585,010
419,653
---------
---------
9. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
10,000
10,822
Trade creditors
342,118
427,505
Corporation tax
171,853
121,665
Social security and other taxes
118,649
101,765
Other creditors
13,716
57,023
---------
---------
656,336
718,780
---------
---------
10. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
7,500
16,678
-------
--------
11. Directors' advances, credits and guarantees
As at 31 August 2024 the amount due to Mr B Miller was £3,217 (2023: £1,717). This loan is interest free and has no fixed date of repayment.
12. Controlling party
BMES Holdings Limited is regarded by the directors as being the company's ultimate parent company. BMES Holdings Limited is controlled by the directors.