REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2019 |
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BAMUK GROUP LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2019 |
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FOR |
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BAMUK GROUP LIMITED |
BAMUK GROUP LIMITED (REGISTERED NUMBER: 08230494) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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BAMUK GROUP LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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4 Mount Ephraim Road |
Tunbridge Wells |
Kent |
TN1 1EE |
BAMUK GROUP LIMITED (REGISTERED NUMBER: 08230494) |
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BALANCE SHEET |
31 DECEMBER 2019 |
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2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
7 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 9 |
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Share premium | 10 |
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Capital redemption reserve | 10 |
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Retained earnings | 10 | ( |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and |
(b) |
preparing financial statements which give a true and fair view of the state of affairs of the company 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 relating to financial statements, so far as applicable to the company. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
signed on its behalf by: |
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BAMUK GROUP LIMITED (REGISTERED NUMBER: 08230494) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
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1. | STATUTORY INFORMATION |
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BAMUK Group Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Going concern |
Accounting standards require the directors to consider the appropriateness of the going concern basis when |
preparing the financial statements. |
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The directors have also considered the impact of the Covid-19 crisis on the business. Whilst the fundamental |
longer-term outlook remains positive, the Directors expect to see a significant but temporary short- term effect. It |
is likely that some customer orders may be delayed and also deliveries from suppliers may be disrupted for a |
period in 2020. As a result, turnover and profitability in 2020 may be reduced for a short period. The directors are |
taking immediate action to mitigate these effects including reviewing staffing and cashflow. The company will |
also look to take advantage of any relevant Government schemes to assist the business and we are also |
seeking to obtain additional funding from our bankers. |
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The directors regard the going concern basis as remaining appropriate as they have assessed the company's |
financial performance and position. From this, the directors have a reasonable expectation that the company |
has adequate resources to continue in operational existence for the foreseeable future.ak |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost, less any provision for impairment deemed |
necessary by the directors. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to |
the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
substantively enacted by the balance sheet date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
balance sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from |
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws |
that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal |
of the timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they |
will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
BAMUK GROUP LIMITED (REGISTERED NUMBER: 08230494) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
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2. | ACCOUNTING POLICIES - continued |
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Financial instruments |
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 entity after deducting all of its financial liabilities. |
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Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar |
debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented |
as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the |
profit and loss account. Finance costs are calculated so as to produce a constant rate or return on outstanding |
liability. |
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Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability |
then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are |
debited direct to equity. |
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Debtors |
Short term debtors are measured at transaction price, less any impairment. |
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Cash and cash equivalents |
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice |
of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three |
months from the date of acquisition and that are readily convertible to known amounts of cash with no significant |
risk of change in value. |
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Creditors |
Short term creditors are measured at the transaction price. |
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Financial reporting standard 102 - reduced disclosure exemptions |
The company has taken advantage of the following disclosure exemptions in preparing these financial |
statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic |
of Ireland": |
- the requirements of Section 7 Statement of Cash Flows; |
- the requirements of Section 3 Financial Statement Presentation paragraph 3.17 (d); |
- the requirements of Section 11 Financial Instruments paragraphs 11.39 to 11.48A; |
- the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.29; |
- the requirements of Section 26 Share-based Payment paragraphs 26.18(b), 26.19 to 26.21 and 26.23; |
- the requirements of Section 33 Related Party Disclosures paragraph 33.7. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | FIXED ASSET INVESTMENTS |
Shares in |
group | Unlisted |
undertakings | investments | Totals |
£ | £ | £ |
COST |
At 1 January 2019 |
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459,246 |
Additions |
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800,660 |
Disposals |
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( |
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At 31 December 2019 |
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1,219,906 |
NET BOOK VALUE |
At 31 December 2019 |
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1,219,906 |
At 31 December 2018 |
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459,246 |
BAMUK GROUP LIMITED (REGISTERED NUMBER: 08230494) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade creditors |
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Amounts owed to group undertakings |
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Other creditors |
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7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2019 | 2018 |
£ | £ |
Other creditors |
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8. | DEFERRED TAX |
£ |
Credit to Income Statement during year | ( |
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Balance at 31 December 2019 | ( |
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9. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2019 | 2018 |
value: | £ | £ |
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Ordinary Shares | 1.00 | 12,321 | 11,441 |
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Ordinary B | 0.01 | 2 | 1 |
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Ordinary C | 0.01 | 4 | 3 |
12,327 | 11,445 |
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During the year 974 new Ordinary Shares were issued at a price of £154 per share, 60 new Ordinary B shares |
were issued at a price of £42 per share and 162 new Ordinary C shares were issued at £154 per share. 94 |
Ordinary shares were repurchased by the company at £154 per share. |
BAMUK GROUP LIMITED (REGISTERED NUMBER: 08230494) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
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10. | RESERVES |
Capital |
Retained | Share | redemption |
earnings | premium | reserve | Totals |
£ | £ | £ | £ |
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At 1 January 2019 |
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284,771 |
Deficit for the year | ( |
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Dividends | ( |
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Purchase of own shares | (14,471 | ) | - | 94 | (14,377 | ) |
Share issue | - | 176,560 | - | 176,560 |
At 31 December 2019 | ( |
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331,411 |
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11. | RELATED PARTY DISCLOSURES |
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The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The |
Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party |
transactions with wholly owned subsidiaries within the group. |
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Included in other creditors are amounts of £nil (2018: £24,089) and £nil (2018: £24,089) due respectively to |
directors M Blenkinsop and T & C Barratt. Interest is charged on these balances at an annual rate of 6%. |
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At the balance sheet date, the company owed £nil (2018: £24,089) to Mr D Wanstrath and £nil (2018: £19,506) |
to Mr T Godwin, both previous directors of the company. At the balance sheet date, the company owed £20,802 |
(2018: £20,802) to a pension scheme for the benefit of Mr D Wanstrath. |
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DCMS Services Limited is a former associated company of BAMUK group Limited. During the year BAMUK |
Group Ltd made sales to DCMS Services Limited of £nil (2018: £5,575) for management services provided. At |
the balance sheet date, DCMS Services Limited owed BAMUK Group Limited £nil (2018: £870). |
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Blenkinsop Consulting Limited is an associated company of BAMUK Group Limited. During the year, BAMUK |
Group Limited purchased consultancy services (inclusive of expenses) from Blenkinsop Consulting Limited for |
£12,873 (2018: £6,750). |
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During the year, dividends of £31,087 (2018: £nil) were declared to Barratt Asset Management UK Ltd by virtue |
of its shareholding. Barratt Asset Management UK Ltd is the parent company of BAMUK Group Limited. |
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12. | ULTIMATE CONTROLLING PARTY |
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The parent company is Barratt Asset Management UK Limited, a company registered in England and Wales. |
The directors consider T & C Barratt to be the ultimate controlling party. |