Limited Liability Partnership registration number OC310031 (England and Wales)
BMS Progress LLP
Annual report and unaudited financial statements
For the year ended 31 March 2026
BMS Progress LLP
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 5
BMS Progress LLP
Statement of financial position
As at 31 March 2026
- 1 -
2026
2025
Notes
£
£
£
£
Current assets
Debtors
3
148,484
103,267
Cash at bank and in hand
1,384
15,451
149,868
118,718
Creditors: amounts falling due within one year
4
(67,183)
(85,115)
Net current assets and net assets attributable to members
82,685
33,603
Represented by:
Loans and other debts due to members within one year
Amounts due in respect of profits
82,685
33,603
TOTAL MEMBERS' INTERESTS
Loans and other debts due to members
82,685
33,603

For the financial year ended 31 March 2026 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006 as applied by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to small limited liability partnerships.

The members acknowledge their responsibilities for complying with the requirements of the Act as applied to limited liability partnerships with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to limited liability partnerships subject to the small limited liability partnerships regime.

T he members of the limited liability partnership have elected not to include a copy of the income statement within the financial statements.

The financial statements were approved by the members and authorised for issue on 9 July 2026 and are signed on their behalf by:
09 July 2026
Mr D R Bill
Designated member
Limited Liability Partnership registration number OC310031 (England and Wales)
BMS Progress LLP
Notes to the financial statements
For the year ended 31 March 2026
- 2 -
1
Accounting policies
Limited liability partnership information

BMS Progress LLP is a limited liability partnership incorporated in England and Wales. The registered office is Europa House, Gemini Business Park, Europa Boulevard, Warrington, Cheshire, United Kingdom, WA5 7XR.

The limited liability partnership's principal activities are disclosed in the Members' Report.

1.1
Basis of preparation

These financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting by Limited Liability Partnerships" issued in May 2024, together with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the limited liability partnership. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents the amounts recoverable for the services provided to clients, excluding value added tax, under contractual obligations which are performed gradually over time.

If, at the balance sheet date, completion of contractual obligations is dependent on external factors (and thus outside the control of the Limited Liability Partnership), then revenue is recognised only when the event occurs. In such cases, costs incurred up to the balance sheet date are carried forward as work in progress.

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

1.3
Members' participation rights

Members' participation rights are the rights of a member against the LLP that arise under the m embers' agreement (for example, in respect of amounts subscribed or otherwise contributed remuneration and profits).

Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with section 22 of FRS 102. M ember s' participation rights, including amounts subscribed or otherwise contributed by members, for example members' capital, are classed as liabilities unless the LLP has an unconditional right to refuse payment to members, in which case they are classified as equity.

BMS Progress LLP
Notes to the financial statements (continued)
For the year ended 31 March 2026
1
Accounting policies
(Continued)
- 3 -

All amounts due to members that are classified as liabilities are presented within 'Loans and other debts due to members' and, where such an amount relates to current year profits or movements in the liability to non-working members in respect of future profits, they are recognised within ‘Members' remuneration charged as an expense’ in arriving at the relevant period’s result. Undivided amounts that are classified as equity are shown within ‘Members' other interests’. Amounts recoverable from members are presented as debtors and shown as amounts due from members within members’ interests.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.

1.5
Financial instruments

The limited liability partnership has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the limited liability partnership's statement of financial position when the limited liability partnership becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the limited liability partnership after deducting all of its liabilities.

BMS Progress LLP
Notes to the financial statements (continued)
For the year ended 31 March 2026
1
Accounting policies
(Continued)
- 4 -
Basic financial liabilities

Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.6
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the limited liability partnership is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.7
Retirement benefits and post retirement payments to members

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average number of persons (excluding members) employed by the partnership during the year was:

2026
2025
Number
Number
Total
22
25
3
Debtors
2026
2025
Amounts falling due within one year:
£
£
Other debtors
148,484
103,267
BMS Progress LLP
Notes to the financial statements (continued)
For the year ended 31 March 2026
- 5 -
4
Creditors: amounts falling due within one year
2026
2025
£
£
Trade creditors
19,002
33,314
Taxation and social security
38,333
39,166
Other creditors
9,848
12,635
67,183
85,115
5
Loans and other debts due to members

In the event of a winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors.

2026-03-31 2025-04-01 false false 09 July 2026 CCH Software CCH Accounts Production 2026.100 false OC310031 2025-04-01 2026-03-31 OC310031 2026-03-31 OC310031 bus:PartnerLLP1 2025-04-01 2026-03-31 OC310031 2024-04-01 2025-03-31 OC310031 bus:LimitedLiabilityPartnershipLLP 2025-04-01 2026-03-31 OC310031 bus:SmallCompaniesRegimeForAccounts 2025-04-01 2026-03-31 OC310031 bus:FRS102 2025-04-01 2026-03-31 OC310031 bus:AuditExemptWithAccountantsReport 2025-04-01 2026-03-31 OC310031 bus:FullAccounts 2025-04-01 2026-03-31 xbrli:pure xbrli:shares