Registered number
10327876
BIE Magnum Limited
Unaudited Filleted Accounts
31 December 2024
BIE Magnum Limited
Registered number: 10327876
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 442,364 307,635
Current assets
Stocks 4,800 101,799
Debtors 4 401,122 478,126
Cash at bank and in hand 215,042 94,255
620,964 674,180
Creditors: amounts falling due within one year 5 (461,525) (320,971)
Net current assets 159,439 353,209
Total assets less current liabilities 601,803 660,844
Creditors: amounts falling due after more than one year 6 (210,347) (239,232)
Net assets 391,456 421,612
Capital and reserves
Called up share capital 2 2
Revaluation reserve 7 111,038 111,038
Profit and loss account 280,416 310,572
Shareholder's funds 391,456 421,612
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
P Uttley
Director
Approved by the board on 23 May 2025
BIE Magnum Limited
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Vehicles 25% reducing balance
Plant and machinery 15% reducing balance
Fixtures, fittings, tools and equipment 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 18 18
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2024 475,968
Additions 213,813
At 31 December 2024 689,781
Depreciation
At 1 January 2024 168,333
Charge for the year 79,084
At 31 December 2024 247,417
Net book value
At 31 December 2024 442,364
At 31 December 2023 307,635
4 Debtors 2024 2023
£ £
Trade debtors 296,655 259,159
Amounts owed by group undertakings and undertakings in which the company has a participating interest - 130,000
Other debtors 104,467 88,967
401,122 478,126
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 53,095 53,095
Obligations under finance lease and hire purchase contracts 96,958 30,360
Trade creditors 157,355 186,931
Taxation and social security costs 108,628 43,453
Other creditors 45,489 7,132
461,525 320,971
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 94,957 144,851
Obligations under finance lease and hire purchase contracts 115,390 39,581
Amounts owed to group undertakings and undertakings in which the company has a participating interest - 54,800
210,347 239,232
7 Revaluation reserve 2024 2023
£ £
At 1 January 2024 111,038 111,038
At 31 December 2024 111,038 111,038
8 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 325,000 375,000
9 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
P Uttley
interest free and unsecured, repaid May 2025 - 8,552 - 8,552
- 8,552 - 8,552
10 Controlling party
The company is a wholly owned subsidiary of Educational Solutions Limited which is owned by Mr P and Mrs M Uttley.
11 Other information
BIE Magnum Limited is a private company limited by shares and incorporated in England. Its registered office is:
16 Shellards Road
Longwell Green
Bristol
BS30 9DU
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