Bamorganic Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09318889 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

FOR

BAMORGANIC LIMITED

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

3

Chartered Accountants' Report

6

DIRECTORS:

G R Berryman

G E Dodridge

SECRETARY:

G E Dodridge

REGISTERED OFFICE:

6 Manor Park Business Centre

Mackenzie Way

Cheltenham

Gloucestershire

GL51 9TX

REGISTERED NUMBER:

09318889 (England and Wales)

ACCOUNTANTS:

Andorran Limited

6 Manor Park Business Centre

Mackenzie Way

Cheltenham

Gloucestershire

GL51 9TX

FIXED ASSETS

Tangible assets

4

-

3,693

CURRENT ASSETS

Stocks

-

22,947

Debtors

17,403

42,475

Cash at bank

25,340

55,688

42,743

121,110

CREDITORS

Amounts falling due within one year

(1,432,357

)

(1,438,523

)

NET CURRENT LIABILITIES

(1,389,614

)

(1,317,413

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(1,389,614

)

(1,313,720

)

CAPITAL AND RESERVES

Called up share capital

5

50,000

50,000

Retained earnings

(1,439,614

)

(1,363,720

)

SHAREHOLDERS' FUNDS

(1,389,614

)

(1,313,720

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31 December 2020 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 September 2021 and were signed on its behalf by:

G E Dodridge - Director

1.	STATUTORY INFORMATION

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

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

At the year-end the company effectively ceased trading. In liaison with the directors of, and investors in, the new holding company (Bodyhero Limited) the operations of this company are being managed and scaled down as part of the group's reorganisation of its activities in the sector.

The directors of the new holding company, with commitment from its investors, have confirmed to the directors of this company that, taking account of the uncertain times in which the country's economy currently finds itself, they will support it through ensuring settlement of all unsecured creditors, current and future, save for the directors' loan accounts.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

20% on cost

Computer equipment

-

25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Current or deferred taxation assets and liabilities are not discounted.

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 statement of financial position date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2020

7,563

Disposals

(7,563

)

At 31 December 2020

-

DEPRECIATION

At 1 January 2020

3,870

Charge for year

1,810

Eliminated on disposal

(5,680

)

At 31 December 2020

-

NET BOOK VALUE

At 31 December 2020

-

At 31 December 2019

3,693

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.20

31.12.19

value:

£

£

50,000

Ordinary

£1

50,000

50,000

6.	RELATED PARTY DISCLOSURES

Mr G R Berryman

Director and shareholder

During the year, Mr Berryman advanced £35,000 (2019: £222,500) to the company to assist with working capital. This advance is unsecured and interest free. No dates have been set for repayment. At the year end Mr Berryman was owed £887,500 (2019: £852,500).

Mr G E Dodridge

Director and shareholder

During the year, Mr Dodridge advanced £35,000 (2019: £178,074) to the company to assist with working capital. This advance is unsecured and interest free. No dates have been set for repayment. At the year end Mr Dodridge was owed £517,892 (2019: £482,892).

Silver Agency Limited

A company in which Mr G E Dodridge is a director and shareholder.

During the year Silver Agency charged Bamorganic Limited £3,789 (2019: £19,630) for rent, management services and recharged expenses on an arm's length basis. The directors of the related party have determined that they will never recover the debt from this company and have therefore written off the remaining balance on the trading account and all of the funding via their loan account. At the year end £14,000 (2019: £75,294) was outstanding from the company to the related party. No terms of interest have been agreed; the advance is unsecured and is repayable on demand.

Bodyhero Limited

Parent company

During the year £22,000 was loaned from the parent company and expenses of £14,065 was paid on its behalf. At the year end £7,935 was owed to the parent company. This was repaid after the year end.

7.	CESSATION OF TRADING

At the end of the financial year, the company ceased to trade. The directors of, and investors in, the new holding company have committed to support this company through the settlement of all its unsecured creditor balances save for the directors' loan accounts.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Bamorganic Limited for the year ended 31 December 2020 on pages to from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Bamorganic Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Bamorganic Limited and state those matters that we have agreed to state to the Board of Directors of Bamorganic Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Bamorganic Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Bamorganic Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Bamorganic Limited. You consider that Bamorganic Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Bamorganic Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Andorran Limited

6 Manor Park Business Centre

Mackenzie Way

Cheltenham

Gloucestershire

GL51 9TX

13 September 2021