BMS Electrical Contractors (Kent) LLP - Accounts to registrar (filleted)

REGISTERED NUMBER: OC368989 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 JANUARY 2024 TO 31 MARCH 2025

FOR

BMS ELECTRICAL CONTRACTORS (KENT) LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

B Collins

Mrs S Collins

BMS Holdings (S.E.) Limited

S M Collins

S Huckstepp

REGISTERED OFFICE:

30/34 North Street

Hailsham

East Sussex

BN27 1DW

REGISTERED NUMBER:

OC368989 (England and Wales)

ACCOUNTANTS:

Watson Associates (Professional Services) Limited

30 - 34 North Street

Hailsham

East Sussex

BN27 1DW

FIXED ASSETS

Intangible assets

4

-

Tangible assets

5

350,318

300,539

Investment property

6

683,225

14,345

1,033,543

314,884

CURRENT ASSETS

Stocks

7

101,835

22,164

Debtors

8

604,111

486,018

Cash at bank

158,769

160,677

864,715

668,859

CREDITORS

Amounts falling due within one year

9

(508,132

)

(334,563

)

NET CURRENT ASSETS

356,583

334,296

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,390,126

649,180

CREDITORS

Amounts falling due after more than one
year

10

(672,290

)

(203,479

)

NET ASSETS ATTRIBUTABLE TO
MEMBERS

717,836

445,701

LOANS AND OTHER DEBTS DUE TO
MEMBERS

11

717,836

445,701

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

11

717,836

445,701

Amounts due from members

8

(211,866

)

(70,570

)

505,970

375,131

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the period ended 31 March 2025.

The members acknowledge their responsibilities for:

(a)	ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the LLP as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 2 December 2025 and were signed by:

B Collins - Designated member

1.	STATUTORY INFORMATION

BMS Electrical Contractors (Kent) LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

2.	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 requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

No significant judgements have had to be made by management in preparing these financial statements.

There were no key assumptions made concerning the future, and other key sources of estimation uncertainty at the reporting date, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

33% on reducing balance

Motor vehicles

-

25% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 accounts receivable and payable, loans from banks and other third parties, and loans to related parties.

Debt instruments that are payable or receivable within one year, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received; other debt instruments are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the balance sheet only when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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 LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEE INFORMATION

The average number of employees during the period was 9 (2023 - 7 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 March 2025

261,296

AMORTISATION

At 1 January 2024

and 31 March 2025

261,296

NET BOOK VALUE

At 31 March 2025

-

At 31 December 2023

-

5.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

COST

At 1 January 2024

67,385

379,190

446,575

Additions

3,562

240,376

243,938

Disposals

-

(142,939

)

(142,939

)

At 31 March 2025

70,947

476,627

547,574

DEPRECIATION

At 1 January 2024

48,469

97,567

146,036

Charge for period

7,024

103,941

110,965

Eliminated on disposal

-

(59,745

)

(59,745

)

At 31 March 2025

55,493

141,763

197,256

NET BOOK VALUE

At 31 March 2025

15,454

334,864

350,318

At 31 December 2023

18,916

281,623

300,539

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

28,691

Additions

677,845

At 31 March 2025

706,536

DEPRECIATION

At 1 January 2024

14,346

Charge for period

8,965

At 31 March 2025

23,311

NET BOOK VALUE

At 31 March 2025

683,225

At 31 December 2023

14,345

7.

STOCKS

2025

2023

£

Stocks

-

22,164

Work-in-progress

101,835

-

101,835

22,164

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2023

£

Trade debtors

149,011

205,562

Other debtors

455,100

280,456

604,111

486,018

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2023

£

Hire purchase contracts

45,654

21,845

Trade creditors

271,211

145,083

Taxation and social security

28,906

19,693

Other creditors

162,361

147,942

508,132

334,563

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2025

2023

£

Bank loans

422,400

-

Hire purchase contracts

249,890

203,479

672,290

203,479

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

422,400

-

11.

LOANS AND OTHER DEBTS DUE TO MEMBERS

The amounts in ‘Loans and other debts due to members’ (other than members’ capital classified as debt) would rank below any amounts in relation to other creditors who are unsecured in the event of a winding up. There is no protection afforded to other creditors in such an event which is legally enforceable and cannot be revoked solely by a decision of the members. There are no restrictions or limitations in existence on the ability of the members to reduce the amount of ‘Members’ other interests’.