Bkm Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 02843578 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 August 2023

for

Bkm Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Directors:

Dr B P Choudhary

Mrs K Kumar

Secretary:

Mrs K Kumar

Registered office:

101 Dunraven Street

Tonypandy

Rhondda Cynon Tafff

CF40 1AR

Registered number:

02843578 (England and Wales)

Accountants:

Curtis Bowden & Thomas Limited

Chartered Certified Accountants

101 Dunraven Street

Tonypandy

CF40 1AR

Fixed assets

Tangible assets

4

292,587

290,724

Investments

5

928,033

850,319

1,220,620

1,141,043

Current assets

Debtors

6

94,818

185,697

Cash at bank and in hand

87,716

174,662

182,534

360,359

Creditors

Amounts falling due within one year

7

550,999

516,434

Net current liabilities

(368,465

)

(156,075

)

Total assets less current liabilities

852,155

984,968

Creditors

Amounts falling due after more than one year

8

(378,034

)

(432,907

)

Provisions for liabilities

(9,855

)

(7,143

)

Net assets

464,266

544,918

Capital and reserves

Called up share capital

300

300

Revaluation reserve

10

236,224

236,224

Retained earnings

227,742

308,394

Shareholders' funds

464,266

544,918

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 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.

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 30 May 2024 and were signed on its behalf by:

Dr B P Choudhary - Director

1.	Statutory information

Bkm 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 trading address is Millview Care Home, Brook Street, Ystrad, CF41 7RB.

2.	Accounting policies

Basis of accounting

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 as modified by the revaluation of certain assets.

The company has taken advantage of the exemption in Financial Reporting Standard No.1 from the requirement to produce a cashflow statement on the grounds that it is a small company.

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.

Land and buildings

-

2% on cost

Fixtures and fittings

-

12.5% on cost

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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.

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.

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 60 (2022 - 49 ) .

4.	Tangible fixed assets

Fixtures

Land and

and

buildings

fittings

Totals

£

£

£

Cost or valuation

At 1 September 2022

300,000

415,999

715,999

Additions

-

16,289

16,289

At 31 August 2023

300,000

432,288

732,288

Depreciation

At 1 September 2022

51,000

374,275

425,275

Charge for year

6,000

8,426

14,426

At 31 August 2023

57,000

382,701

439,701

Net book value

At 31 August 2023

243,000

49,587

292,587

At 31 August 2022

249,000

41,724

290,724

Cost or valuation at 31 August 2023 is represented by:

Fixtures

Land and

and

buildings

fittings

Totals

£

£

£

Valuation in 2014

300,000

432,288

732,288

If Land and buildings had not been revalued they would have been included at the following historical cost:

31.8.23

31.8.22

£

£

Cost

565,956

565,956

Aggregate depreciation

565,956

565,956

Freehold land and buildings were valued on an open market value basis on 25 February 2015 by Pinders .

5.	Fixed asset investments

Loans to

group

undertakings

£

At 1 September 2022

850,319

New in year

77,714

At 31 August 2023

928,033

6.

Debtors: amounts falling due within one year

31.8.23

31.8.22

£

£

Trade debtors

80,963

163,536

Other debtors

13,855

22,161

94,818

185,697

7.

Creditors: amounts falling due within one year

31.8.23

31.8.22

£

£

Bank loans and overdrafts

53,581

52,895

Trade creditors

111,151

144,530

Taxation and social security

57,104

35,982

Other creditors

329,163

283,027

550,999

516,434

8.

Creditors: amounts falling due after more than one year

31.8.23

31.8.22

£

£

Bank loans

378,034

432,907

9.	Secured debts

The following secured debts are included within creditors:

31.8.23

31.8.22

£

£

Bank loans

431,615

485,802

There is a legal charge to secure all the liabilities of the Company to National Westminster Bank Plc.

10.

Reserves

Revaluation

reserve

£

At 1 September 2022

and 31 August 2023

236,224

11.	Related party disclosures

All the share capital of the company is owned by Newcore Limited, a holding company.

At the year end BKM Limited was owed £928,033 (2022 - £850,319) from Newcore Healthcare Limited, which is also wholly owned by Newcore Limited.

There is also loans outstanding Silvercrest Limited £101,242 (2022 £41,959)

Dr B Choudhary is also a director of these companies and these loans are repayable on demand.

12.	Post balance sheet events

The company has suffered a significant loss this year. Nursing homes have suffered substantial additional costs since the pandemic, and wages cost increase have had a significant impact,but performance is expected to improve over the coming years. Both the bank ant the other companies within the group continue to support the company and the company remains a Going Concern

13.	Ultimate controlling party