Registrar
Registration number:
Bamko UK Limited
for the Year Ended 31 December 2024
Bamko UK Limited
Contents
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Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Bamko UK Limited
Company Information
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Directors |
M Benstock M Koempel |
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Registered office |
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Bankers |
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Auditors |
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Bamko UK Limited
(Registration number: 07998108)
Balance Sheet as at 31 December 2024
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Note |
2024 |
2023 |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net liabilities |
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( |
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Capital and reserves |
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Called up share capital |
100 |
100 |
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Retained earnings |
(60,891) |
(73,396) |
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Shareholders' deficit |
(60,791) |
(73,296) |
These financial statements have 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.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
Director
Bamko UK Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
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General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
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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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation and going concern
These financial statements have been prepared using the historical cost convention.
These financial statements are presented in Sterling (£), which is the company's functional currency.
Going concern
The financial statements have been prepared on a going concern basis, the validity of which depends upon future financing requirements and availability of sufficient cash resources to meet those requirements. The availability of sufficient cash resources is dependent primarily upon continued support from Bamko LLC, the parent company, and Superior Group of Companies Inc. the ultimate parent company.
Audit report
We draw attention to note 2 of the financial statements, which describes the current trading status of the company and considerations in relation of going concern. Our opinion is unmodified in respect of this matter.
Revenue recognition
Turnover comprises consideration received or receivable for the sale of promotional products. Turnover is shown net of value added tax, returns, rebates and discounts.
The company recognises revenue when goods have been delivered to the customer.
Foreign currency transactions and balances
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, 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.
Bamko UK Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
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.
Deferred tax is recognised on material temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits.
Trade debtors
Trade debtors are amounts due from customers for the sale of promotional products in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at cost, 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. Trade creditors 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 at the transaction price.
Share capital
Ordinary shares are classified as equity.
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
The Directors of the company are remunerated through the other group entities.
Bamko UK Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
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Debtors |
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2024 |
2023 |
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Trade debtors |
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Other debtors |
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Prepayments and accrued income |
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Included within other debtors is a deferred tax asset of £16,185 (2023: £20,387) in respect of taxable losses carried forward.
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Creditors |
Creditors: amounts falling due within one year
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2024 |
2023 |
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Due within one year |
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Trade creditors |
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Amounts owed to group undertakings |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Included within amounts owed to group undertakings is an amount in the sum of £146,431 (2023: £763,569) owed to the parent company. The amount due is payable on demand, however, the directors of the parent company have stated that they will not demand payment until the company cash flow allows which is unlikely to be in the next 12 months.
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Parent and ultimate parent undertaking |
The company's immediate parent is
The ultimate parent is
The parent of the smallest and largest group in which these financial statements are consolidated is Superior Group of Companies Inc, a company incorporated in the United States of America.
The consolidated accounts are available on https://superiorgroupofcompanies.com/section16-filings
Bamko UK Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
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Related party transactions |
Summary of transactions with parent
Bamko LLC
An interest free loan was brought forward in the sum of £763,569 owed to the parent company Bamko LLC. An overall payment of £617,138 was made during the year and at the balance sheet date the amount outstanding to Bamko LLC was £146,431.