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Registered number: 05694272
BOMIC LIMITED
Unaudited Financial Statements
For The Year Ended 31 March 2025
Freestone & Co
1 The Centre
High Street
Gillingham
Dorset
SP8 4AB
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 05694272
2025 2024
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 883 989
Tangible Assets 5 341,864 401,214
342,747 402,203
CURRENT ASSETS
Stocks 6 127,622 111,572
Debtors 7 742,858 628,674
Cash at bank and in hand 541,387 388,031
1,411,867 1,128,277
Creditors: Amounts Falling Due Within One Year 8 (322,050 ) (241,607 )
NET CURRENT ASSETS (LIABILITIES) 1,089,817 886,670
TOTAL ASSETS LESS CURRENT LIABILITIES 1,432,564 1,288,873
PROVISIONS FOR LIABILITIES
Deferred Taxation (85,000 ) (78,000 )
NET ASSETS 1,347,564 1,210,873
CAPITAL AND RESERVES
Called up share capital 9 50 50
Capital redemption reserve 50 50
Profit and Loss Account 1,347,464 1,210,773
SHAREHOLDERS' FUNDS 1,347,564 1,210,873
Page 1
Page 2
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
S Wilkins
Director
11 November 2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
BOMIC LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 05694272 . The registered office is 1 The Centre, High Street, Gillingham, Dorset, SP8 4AB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are computer software. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 15% straight line basis
Plant & Machinery 15% Reducing balance basis
Motor Vehicles 25% Reducing balance basis
Fixtures & Fittings 15% Reducing balance basis
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2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.7. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.8. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 12 (2024: 13)
12 13
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4. Intangible Assets
Goodwill Other Total
£ £ £
Cost
As at 1 April 2024 58,000 1,060 59,060
As at 31 March 2025 58,000 1,060 59,060
Amortisation
As at 1 April 2024 58,000 71 58,071
Provided during the period - 106 106
As at 31 March 2025 58,000 177 58,177
Net Book Value
As at 31 March 2025 - 883 883
As at 1 April 2024 - 989 989
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 April 2024 34,959 1,026,467 7,632 9,117 1,078,175
Additions - 735 - 1,129 1,864
Disposals - - (7,632 ) - (7,632 )
As at 31 March 2025 34,959 1,027,202 - 10,246 1,072,407
Depreciation
As at 1 April 2024 - 668,746 6,614 1,601 676,961
Provided during the period 5,244 53,719 - 1,233 60,196
Disposals - - (6,614 ) - (6,614 )
As at 31 March 2025 5,244 722,465 - 2,834 730,543
Net Book Value
As at 31 March 2025 29,715 304,737 - 7,412 341,864
As at 1 April 2024 34,959 357,721 1,018 7,516 401,214
6. Stocks
2025 2024
£ £
Stock 127,622 111,572
Page 5
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7. Debtors
2025 2024
£ £
Due within one year
Trade debtors 693,085 576,945
Other debtors 49,773 51,729
742,858 628,674
8. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 73,752 86,091
Other creditors 8,629 6,326
Taxation and social security 239,669 149,190
322,050 241,607
9. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 50 50
10. Directors Advances, Credits and Guarantees
Included within Debtors is the following loan to a director:
As at 1 April 2024 Amounts advanced Amounts repaid Amounts written off As at 31 March 2025
£ £ £ £ £
Mr S Wilkins (21,446 ) (182,189 ) 181,280 - (22,355 )
The above loan will be repaid in full before the 1st January 2026.
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