REGISTERED NUMBER: 05043749

Audited Financial Statements

for the Year Ended 31 December 2024

for

BMB Plastics Machinery Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Egidio Bugatti

Marco Bugatti

SECRETARY:

Marco Bugatti

REGISTERED OFFICE:

2 Heap Bridge

Bury

Lancashire

BL9 7HR

REGISTERED NUMBER:

05043749

AUDITORS:

SKS Audit LLP

3 Sheen Road

Richmond Upon Thames

TW9 1AD

Fixed assets

Tangible assets

5

60,662

80,342

Current assets

Stocks

6

33,220

31,530

Debtors

7

389,681

125,096

Cash at bank and in hand

30,116

7,198

453,017

163,824

Creditors

Amounts falling due within one year

8

(265,407

)

(84,268

)

Net current assets

187,610

79,556

Total assets less current liabilities

248,272

159,898

Capital and reserves

Called up share capital

10

100

100

Retained earnings

248,172

159,798

Shareholders' funds

248,272

159,898

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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 September 2025 and were signed on its behalf by:

Marco Bugatti - Director

1.	STATUTORY INFORMATION

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:

2 Heap Bridge

Bury

Lancashire

BL9 7HR

The principal place of business is:

Vine Lane, Centre Court

Office 5

Halesowen

Birmingham

B63 3EB

2.	STATEMENT OF COMPLIANCE

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.

3.	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.

REVENUE RECOGNITION

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 sale 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 activities

TANGIBLE FIXED ASSETS

Tangible assets are stated in the statement of financial position at cost, less any subsequent

accumulated depreciation and subsequent accumulated impairment losses cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under

construction over their estimated useful lives, as follows:

Asset class Depreciation method and rate:

Motor vehicles 25% reducing balance

Computer Equipment 25% straight line

STOCKS

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost

is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss

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.

DEFINED CONTRIBUTION PENSION OBLIGATION

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

CASH AND CASH EQUIVALENTS

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

PROVISION FOR LIABILITIES

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the Statement of income and retained earnings in the year that the company becomes aware of the obligation, and are measured at the best estimates at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Balance sheet.

FOREIGN CURRENCY TRANSACTION & BALANCES

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date.

Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the initial transaction dates.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

TRADE DEBTORS

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

TRADE CREDITORS

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

LEASES

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

GOING CONCERN

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and will have continued operational and financial support from its parent company BMB Spa.. Thus, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In the application of the company's accounting policies, which are described in note 2, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates of Accruals, Prepayments, Depreciation, Accrued Income, Provision for slow moving stock and Provisions for tax as included in the financial statement and its underlying assumptions are reviewed on an on going basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

5.	TANGIBLE FIXED ASSETS

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2024

102,292

2,468

104,760

Additions

-

438

438

At 31 December 2024

102,292

2,906

105,198

DEPRECIATION

At 1 January 2024

22,164

2,254

24,418

Charge for year

20,031

87

20,118

At 31 December 2024

42,195

2,341

44,536

NET BOOK VALUE

At 31 December 2024

60,097

565

60,662

At 31 December 2023

80,128

214

80,342

6.

STOCKS

2024

2023

£

£

Stocks

61,669

60,888

Provision for slow moving

stock

(28,449

)

(29,358

)

33,220

31,530

7.

DEBTORS

2024

2023

£

£

Amounts falling due within one year:

Trade debtors

206,378

18,136

Amounts owed by group undertakings

-

23,298

Other debtors

1,502

3,189

Prepayments and accrued income

156,462

37,962

Corporation tax

-

3,487

VAT

15,510

30,989

Deferred tax asset

4,729

2,935

384,581

119,996

Amounts falling due after more than one year:

Other debtors

5,100

5,100

Aggregate amounts

389,681

125,096

Included in prepayment and accrued income is the commission income earned during the year.

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

53,053

67,252

Amounts owed to group undertakings

166,316

-

Social security and other tax

24,985

4,944

Pension Liability

445

445

Accrued expenses

20,608

11,627

265,407

84,268

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023

£

£

Within one year

17,000

17,000

Between one and five years

24,803

7,083

41,803

24,083

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

100

Ordinary

£1

100

100

11.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

In forming our opinion on the financial statements, which is unqualified, we have considered the company’s dependency on a one major customer that represents the majority of its turnover. In view of the significant impact on the financial statements that would result from the loss of this customer, which appears to be unlikely, we believe this matter should be brought to your attention.

Moganarden Chelvanaigum FCCA (Senior Statutory Auditor)

for and on behalf of SKS Audit LLP

12.	RELATED PARTY DISCLOSURES

BMB Spa

(Holding Company)

At the balance sheet date, trade debtors includes amount of £173,070 (2023 : Nil) receivable from BMB Spa.

At the balance sheet date, prepayments and accrued income includes amount of £151,241 (2023 : £33,143) receivable from BMB Spa, for commission income earned during the year.

At the balance sheet date, amount owed to/(by) group undertakings includes amount of £166,316 (2023 :(£23,298)) owed to BMB Spa.

13.

CONTROL

The company is a wholly owned subsidiary of BMB Spa, a company incorporated in Italy.