Company Registration No. 05894672 (England and Wales)
BMA Limited
Unaudited accounts
for the year ended 30 September 2021
BMA Limited
Unaudited accounts
Contents
BMA Limited
Company Information
for the year ended 30 September 2021
Director
Benjamin Marcus Atkin
Company Number
05894672 (England and Wales)
Registered Office
Unit 2 Ashvale Workshops
Ashvale Road
Tuxford, Newark
Nottinghamshire
NG22 0JY
Accountants
Future Cloud Accounting Limited
14 Halifax Court
Fernwood Business Centre
Newark
Nottinghamshire
NG24 3JP
BMA Limited
Statement of financial position
as at
30 September 2021
Tangible assets
39,656
47,210
Cash at bank and in hand
12,299
154,920
Creditors: amounts falling due within one year
(321,487)
(242,598)
Net current assets
11,720
105,440
Total assets less current liabilities
51,376
152,650
Creditors: amounts falling due after more than one year
(42,996)
(50,796)
Provisions for liabilities
Deferred tax
(7,096)
(8,435)
Called up share capital
100
100
Profit and loss account
1,184
93,319
Shareholders' funds
1,284
93,419
For the year ending 30 September 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 23 June 2022 and were signed on its behalf by
Benjamin Marcus Atkin
Director
Company Registration No. 05894672
BMA Limited
Notes to the Accounts
for the year ended 30 September 2021
BMA Limited is a private company, limited by shares, registered in England and Wales, registration number 05894672. The registered office is Unit 2 Ashvale Workshops, Ashvale Road, Tuxford, Newark, Nottinghamshire, NG22 0JY.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% Reducing Balance
Motor vehicles
25% Reducing Balance
Fixtures & fittings
15% Reducing Balance
Computer equipment
20% Reducing Balance
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
BMA Limited
Notes to the Accounts
for the year ended 30 September 2021
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 October 2020
87,414
25,290
2,761
5,382
120,847
At 30 September 2021
87,414
25,290
2,761
5,382
120,847
At 1 October 2020
47,425
21,666
1,343
3,203
73,637
Charge for the year
5,999
906
213
436
7,554
At 30 September 2021
53,424
22,572
1,556
3,639
81,191
At 30 September 2021
33,990
2,718
1,205
1,743
39,656
At 30 September 2020
39,989
3,624
1,418
2,179
47,210
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Plant & machinery
12,282
14,450
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Debtors: amounts falling due within one year
2021
2020
Trade debtors
143,378
180,941
Accrued income and prepayments
13,351
10,786
Other debtors
58,629
1,391
Debtors: amounts falling due after more than one year
BMA Limited
Notes to the Accounts
for the year ended 30 September 2021
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Creditors: amounts falling due within one year
2021
2020
Bank loans and overdrafts
7,644
3,549
Obligations under finance leases and hire purchase contracts
4,000
4,000
Trade creditors
201,915
172,369
Taxes and social security
74,355
60,173
Loans from directors
-
1,024
The following secured debts are included within creditors, hire purchase contracts £4,000 (2020: £4,000).
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Creditors: amounts falling due after more than one year
2021
2020
Obligations under finance leases and hire purchase contracts
378
4,345
Aggregate of amounts that fall due for payment after five years
21,348
3,856
The following secured debts are included within creditors, hire purchase contracts £378 (2020: £4,344).
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Operating lease commitments
2021
2020
At 30 September 2021 the company has total minimum future payment commitments under non-cancellable operating leases as follows:
Operating leases expiring:
Within one year
11,464
9,164
Within two to five years
19,751
8,363
During the period, the company made a short-term loan to a director and the closing balance at 30 September 2021 was £20,825 (2020: (£1,024)) . Interest at the official rate of interest is payable daily on any outstanding balance.
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Average number of employees
During the year the average number of employees was 9 (2020: 7).