| REGISTERED NUMBER: |
| AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH APRIL 2024 |
| FOR |
| B M W SHIPPING AGENTS LIMITED |
| REGISTERED NUMBER: |
| AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH APRIL 2024 |
| FOR |
| B M W SHIPPING AGENTS LIMITED |
| B M W SHIPPING AGENTS LIMITED (REGISTERED NUMBER: 01358388) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the year ended 30th April 2024 |
| Page |
| Company Information | 1 |
| Abridged Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| B M W SHIPPING AGENTS LIMITED |
| COMPANY INFORMATION |
| for the year ended 30th April 2024 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Statutory Auditors |
| Chartered Accountants |
| Priestley House |
| Priestley Gardens |
| Chadwell Heath |
| Essex |
| RM6 4SN |
| B M W SHIPPING AGENTS LIMITED (REGISTERED NUMBER: 01358388) |
| ABRIDGED BALANCE SHEET |
| 30th April 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The financial statements were approved by the director and authorised for issue on |
| B M W SHIPPING AGENTS LIMITED (REGISTERED NUMBER: 01358388) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the year ended 30th April 2024 |
| 1. | STATUTORY INFORMATION |
| B M W Shipping Agents Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Rendering of services - When providing day services, turnover is usually recognised on completion of the service and, for monthly engagements, it is recognised by reference to the stage of completion at the balance sheet date. |
| Tangible fixed assets |
| Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended by management. |
| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
| Leasehold Improvements - 25% on reducing balance |
| Fixtures and fittings - 10% on reducing balance |
| 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. |
| 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. |
| B M W SHIPPING AGENTS LIMITED (REGISTERED NUMBER: 01358388) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 30th April 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| Impairment |
| Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in the profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Totals |
| £ |
| COST |
| At 1st May 2023 |
| and 30th April 2024 |
| DEPRECIATION |
| At 1st May 2023 |
| Charge for year |
| At 30th April 2024 |
| NET BOOK VALUE |
| At 30th April 2024 |
| At 30th April 2023 |
| 5. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2024 | 2023 |
| £ | £ |
| Within one year |
| B M W SHIPPING AGENTS LIMITED (REGISTERED NUMBER: 01358388) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 30th April 2024 |
| 6. | SECURED DEBTS |
| The bank hold a fixed and floating charge over all other assets dates 7th January 1982 and a guarantee in favour of H M Revenue & Customs for £ 100,000. |
| 7. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 8. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 30th April 2024 and 30th April 2023: |
| 2024 | 2023 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| 9. | RELATED PARTY DISCLOSURES |
| Buckle Management & Holdings Limited is the ultimate holding company for BMW Shipping Agents Limited. |
| Trading transactions |
| Sales | Purchase |
| Ledger | Ledger | Balances at |
| Transactions | Transactions | 30.4.2024 |
| £ | £ | £ |
| Mrs J Buckle - |
| Buckle Management & |
| Holdings Ltd | - | 22,333 | 8,695 |
| Buckle Shipping (Ipswich) |
| Limited | - | - | - |
| 10. | FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES |
| In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements. |
| B M W SHIPPING AGENTS LIMITED (REGISTERED NUMBER: 01358388) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 30th April 2024 |
| 11. | ULTIMATE CONTROLLING PARTY |
| At 30th April 2024, the ultimate holding company was Buckle Management and Holdings Limited, a company incorporated in England. |