BHM ACCOUNTANCY SERVICES LIMITED

BHM ACCOUNTANCY SERVICES LIMITED - Company Information

2020-08-012021-07-312021-07-31false06962888BHM ACCOUNTANCY SERVICES 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Registered Number
06962888
(England and Wales)

Unaudited Financial Statements for the Year Ended
31 July 2021

BHM ACCOUNTANCY SERVICES LIMITED

Company Information
for the year from 1 August 2020 to 31 July 2021


Directors	MAGOR, Bruna Harumi


Registered Address	Flat 6 10 Atkins Square
	Dalston Lane
	London
	E8 1FQ


Registered Number	06962888 (England and Wales)

BHM ACCOUNTANCY SERVICES LIMITED

Balance Sheet as at
31 July 2021

	Notes	2021		2020
		£	£	£	£
Fixed assets
Tangible assets	5		331		385
			331		385
Current assets
Debtors	7	9,451		4,144
Cash at bank and on hand		6,594		6,132
		16,045		10,276
Creditors amounts falling due within one year	8	(10,230)		(9,573)
Net current assets (liabilities)			5,815		703
Total assets less current liabilities			6,146		1,088
Creditors amounts falling due after one year	9		(7,367)		-
Provisions for liabilities			(63)		(73)
Net assets			(1,284)		1,015
Capital and reserves
Called up share capital			1		1
Profit and loss account			(1,285)		1,014
Shareholders' funds			(1,284)		1,015

The company was entitled to exemption from audit for this reporting period 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The directors have chosen to not file a copy of the company’s profit and loss account.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The financial statements were approved and authorised for issue by the Director on 24 September 2021, and are signed on its behalf by:

MAGOR, Bruna Harumi
Director
Registered Company No. 06962888

BHM ACCOUNTANCY SERVICES LIMITED

Notes to the Financial Statements
for the year ended 31 July 2021

1.	STATUTORY INFORMATION
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	COMPLIANCE WITH APPLICABLE REPORTING FRAMEWORK
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

3.	ACCOUNTING POLICIES

	Property, plant and equipment policy
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

		Straight line (years)
	Fixtures and fittings	10
	Office Equipment	3

	Revenue recognition policy
	Turnover from the rendering of accountancy and bookkeeping 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.

	Deferred tax policy
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax policy

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Foreign currency translation and operations policy
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation and operations policy

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Government grants and other government assistance policy
	In the current financial year, the company received government grants of £4,882 (2020: £nil) in respect of the Coronavirus Job Retention Scheme. In November 2020, the company took out a £8,500 bank loan with Barclays Bank Plc, guaranteed by the government under the Bounce Back Loan Scheme. This loan is disclosed within creditors amounts falling due within and after one year on the balance sheet. The company received government state aid of £159 (2020: £nil) to settle interest accrued on the loan at a rate of 2.5% per annum. All grants and state aid are disclosed within other operating income on the profit and loss account.

Government grants and other government assistance policy

In the current financial year, the company received government grants of £4,882 (2020: £nil) in respect of the Coronavirus Job Retention Scheme.

In November 2020, the company took out a £8,500 bank loan with Barclays Bank Plc, guaranteed by the government under the Bounce Back Loan Scheme. This loan is disclosed within creditors amounts falling due within and after one year on the balance sheet. The company received government state aid of £159 (2020: £nil) to settle interest accrued on the loan at a rate of 2.5% per annum.

All grants and state aid are disclosed within other operating income on the profit and loss account.

	Employee benefits policy
	Contributions to defined contribution plans are expensed in the period to which they relate.

4.	EMPLOYEE INFORMATION

		2021		2020
	Average number of employees during the year	1		1

5.	PROPERTY, PLANT AND EQUIPMENT

		Total £
	Cost or valuation
	At 01 August 20	4,007
	At 31 July 21	4,007
	Depreciation and impairment
	At 01 August 20	3,622
	Charge for year	54
	At 31 July 21	3,676
	Net book value
	At 31 July 21	331
	At 31 July 20	385

6.	ADVANCES AND CREDITS TO DIRECTORS, INCLUDING TERMS AND INTEREST RATES
	£6,048 owed by Bruna Harumi Magor, a company director, is included within debtors (2020: -£1,042 included within creditors: amounts falling due within one year) on the balance sheet.

		Brought forward £		Amount advanced £		Amount repaid £		Carried forward £
	MAGOR, Bruna Harumi	(1,042)		7,090		0		6,048
		(1,042)		7,090		0		6,048

7.	DEBTORS
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

DEBTORS

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	2021 £	2020 £
Trade debtors / trade receivables	-	239
Other debtors	8,110	72
Prepayments and accrued income	1,341	3,833
Total	9,451	4,144

8.	CREDITORS WITHIN ONE YEAR
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	2021 £	2020 £
Bank borrowings and overdrafts	1,133	-
Taxation and social security	8,859	8,446
Other creditors	41	1,042
Accrued liabilities and deferred income	197	85
Total	10,230	9,573

9.	CREDITORS AFTER ONE YEAR

		2021 £		2020 £
	Bank borrowings and overdrafts	7,367		-
	Total	7,367		-