Registration number: 12368237

BSM Lofts Ltd

Contents

Company Information	1
Directors' Report	2
Accountants' Report	3
Balance Sheet	4 to 5
Notes to the Unaudited Financial Statements	6 to 11

BSM Lofts Ltd

Company Information

Directors

Mr Tom Robert Morgan Mr Matthew Christopher Bevan

Registered office

Unit 8 The Courtyard Goldsmith Way Eliot Business Park Nuneaton Warwickshire CV10 7RJ

Accountants

Pattinsons Business Services Ltd Unit 8 The Courtyard Goldsmith Way Eliot Business Park Nuneaton Warwickshire CV10 7RJ

BSM Lofts Ltd

Directors' Report for the Year Ended 31 December 2024

The directors present their report and the financial statements for the year ended 31 December 2024.

Directors of the company

The directors who held office during the year were as follows:

Mr Tom Robert Morgan

Mr Matthew Christopher Bevan

Principal activity

The principal activity of the company is that of loft conversions.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the Board on 29 September 2025 and signed on its behalf by:

.........................................
Mr Matthew Christopher Bevan
Director

Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
BSM Lofts Ltd
for the Year Ended 31 December 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of BSM Lofts Ltd for the year ended 31 December 2024 as set out on pages 4 to 11 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of BSM Lofts Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of BSM Lofts Ltd and state those matters that we have agreed to state to the Board of Directors of BSM Lofts Ltd, as a body. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than BSM Lofts Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that BSM Lofts Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of BSM Lofts Ltd. You consider that BSM Lofts Ltd 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 accounts of BSM Lofts 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 accounts.

......................................

Pattinsons Business Services Ltd
Unit 8 The Courtyard
Goldsmith Way
Eliot Business Park
Nuneaton
Warwickshire
CV10 7RJ

29 September 2025

BSM Lofts Ltd

(Registration number: 12368237)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	5	10,470	13,812
Current assets
Stocks	6	2,327	2,216
Debtors	7	20,718	150,139
Cash at bank and in hand		214,789	78,534
		237,834	230,889
Creditors: Amounts falling due within one year	8	(80,855)	(99,708)
Net current assets		156,979	131,181
Total assets less current liabilities		167,449	144,993
Creditors: Amounts falling due after more than one year	8	(22,593)	(27,037)
Provisions for liabilities		(1,551)	(2,168)
Net assets		143,305	115,788
Capital and reserves
Called up share capital	10	502	502
Retained earnings		142,803	115,286
Shareholders' funds		143,305	115,788

BSM Lofts Ltd

(Registration number: 12368237)
Balance Sheet as at 31 December 2024

For the financial year ending 31 December 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the Board on 29 September 2025 and signed on its behalf by:
 

......................................... Mr Matthew Christopher Bevan Director

BSM Lofts Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1	General information

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

The address of its registered office is:
Unit 8 The Courtyard Goldsmith Way
Eliot Business Park
Nuneaton
Warwickshire
CV10 7RJ
England

These financial statements were authorised for issue by the Board on 29 September 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

BSM Lofts Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The 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
Plant and machinery	20% Reducing balance
Computer equipment	3 Years Straight line

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.

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.

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.

BSM Lofts Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks, other third parties and loans to related parties.

3	Staff numbers

The average number of persons employed by the company during the year, was 2 (2023 - 2).

BSM Lofts Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4	Profit before tax

Arrived at after charging/(crediting)

	2024 £	2023 £
Depreciation expense	3,342	4,307

5	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Plant and machinery £	Total £
Cost or valuation
At 1 January 2024	450	21,081	7,957	29,488
At 31 December 2024	450	21,081	7,957	29,488
Depreciation
At 1 January 2024	274	11,786	3,616	15,676
Charge for the year	150	2,324	868	3,342
At 31 December 2024	424	14,110	4,484	19,018
Carrying amount
At 31 December 2024	26	6,971	3,473	10,470
At 31 December 2023	176	9,295	4,341	13,812

6

Stocks

	2024 £	2023 £
Other inventories	2,327	2,216

BSM Lofts Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

7

Debtors

	2024 £	2023 £
Trade debtors	395	-
Prepayments	4,336	9,293
Other debtors	15,987	140,846
	20,718	150,139

8

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Bank loans and overdrafts	9	4,444	4,444
Trade creditors		8,210	8,245
Taxation and social security		39,556	57,161
Other creditors		28,645	29,858
		80,855	99,708

Creditors: amounts falling due after more than one year

	Note	2024 £	2023 £
Due after one year
Loans and borrowings	9	22,593	27,037

9	Loans and borrowings

Non-current loans and borrowings

	2024 £	2023 £
Bank borrowings	22,593	27,037

Current loans and borrowings

	2024 £	2023 £
Bank borrowings	4,444	4,444

BSM Lofts Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

10	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary of £1 each	500	500	500	500
Ordinary B of £1 each	1	1	1	1
Ordinary A of £1 each	1	1	1	1
	502	502	502	502

11	Related party transactions

Transactions with directors

2023	At 1 January 2023 £	Advances to director £	Repayments by director £	At 31 December 2023 £
Mr Matthew Christopher Bevan
Loan to director 1	(18,525)	197,815	(38,444)	140,846
Loan to director 2	88,162	56,120	(167,617)	(23,335)
	69,637	253,935	(206,061)	117,511

2024	At 1 January 2024 £	Advances to director £	Repayments by director £	At 31 December 2024 £
Loan to director 1	140,846	40,915	(165,774)	15,987
Loan to director 2	(23,335)	79,810	(81,370)	(24,895)
	117,511	120,725	(247,144)	(8,908)

Interest has been charged at HMRC's beneficial loan interest rates on balances in excess of £10,000. The loan is repayable on demand.’