BME Nitech Limited - Accounts to registrar (filleted) - small 23.2.5

BME Nitech Limited - Accounts to registrar (filleted) - small 23.2.5

BME NITECH LIMITED - Company Information

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REGISTERED NUMBER: SC511494 (Scotland)















Unaudited Financial Statements for the Year Ended 30 September 2023

for

BME NITECH LIMITED
BME NITECH LIMITED (REGISTERED NUMBER: SC511494)

Contents of the Financial Statements
for the Year Ended 30 September 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BME NITECH LIMITED

Company Information
for the Year Ended 30 September 2023







DIRECTORS: S Borland
K J Borland





REGISTERED OFFICE: 5 Carden Place
Aberdeen
AB10 1UT





REGISTERED NUMBER: SC511494 (Scotland)





1
BME NITECH LIMITED (REGISTERED NUMBER: SC511494)

Balance Sheet
30 September 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 28,000 42,000

CURRENT ASSETS
Stocks 64,915 64,915
Debtors 5 130,247 181,617
Cash at bank 193,350 170,020
388,512 416,552
CREDITORS
Amounts falling due within one year 6 395,423 427,864
NET CURRENT LIABILITIES (6,911 ) (11,312 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
21,089
30,688

CREDITORS
Amounts falling due after more than one
year
7
22,489
32,088
NET LIABILITIES (1,400 ) (1,400 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (1,500 ) (1,500 )
SHAREHOLDERS' FUNDS (1,400 ) (1,400 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 notes form part of these financial statements

2
BME NITECH LIMITED (REGISTERED NUMBER: SC511494)

Balance Sheet - continued
30 September 2023


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 1 May 2024 and were signed on its behalf by:





S Borland - Director


The notes form part of these financial statements

3
BME NITECH LIMITED (REGISTERED NUMBER: SC511494)

Notes to the Financial Statements
for the Year Ended 30 September 2023


1. STATUTORY INFORMATION

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

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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 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.

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.

4
BME NITECH LIMITED (REGISTERED NUMBER: SC511494)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2022
and 30 September 2023 140,000
AMORTISATION
At 1 October 2022 98,000
Charge for year 14,000
At 30 September 2023 112,000
NET BOOK VALUE
At 30 September 2023 28,000
At 30 September 2022 42,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 46,548 158,175
Amounts owed by associates 80,410 23,343
Other debtors 3,289 99
130,247 181,617

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,951 10,000
Trade creditors 29,348 32,836
Amounts owed to associates 353,507 353,507
Taxation and social security 2,045 31,223
Other creditors 572 298
395,423 427,864

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 22,489 32,088

8. ULTIMATE CONTROLLING PARTY

The controlling party is S Borland.

5
BME NITECH LIMITED (REGISTERED NUMBER: SC511494)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023


9. GOING CONCERN

These accounts have been prepared on the going concern basis, on the understanding that the directors and shareholders will continue to financially support the company.

6