BSMH Limited - Period Ending 2016-03-31

Registration number: 02566342

BSMH Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2016
 

BSMH Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 4

BSMH Limited
(Registration number: 02566342)
Abbreviated Balance Sheet at 31 March 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					51,951			60,421
Investments					50			50
		2			52,001			60,471
Current assets
Debtors					416,311			403,700
Cash at bank and in hand					1,199,988			1,264,204
					1,616,299			1,667,904
Creditors: Amounts falling due within one year					(574,814)			(735,388)
Net current assets					1,041,485			932,516
Total assets less current liabilities					1,093,486			992,987
Provisions for liabilities					(6,678)			(8,742)
Net assets					1,086,808			984,245
Capital and reserves
Called up share capital		3			395,315			395,315
Share premium account					70,625			70,625
Other reserves					102,020			102,020
Profit and loss account					518,848			416,285
Shareholders' funds					1,086,808			984,245

For the year ending 31 March 2016 the company was entitled to exemption 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 .

Approved by the Board on 7 October 2016 and signed on its behalf by:

.........................................
AJ Barker
Director

The notes on pages 2 to 4 form an integral part of these financial statements.
Page 1

BSMH Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Exemption from preparing group accounts

The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts.

Departures from Companies Act requirements

No depreciation has been provided in respect of freehold property. This treatment is a departure from the requirement of the Companies Act concerning the depreciation of fixed assets. However, it is the company's policy to maintain it's freehold building in a continual state of sound repair and the directors consider that the life of the property and it's residual value is such that the depreciation is not significant. The accounting policy adopted is therefore necessary for the financial statements to give a true and fair view.

Going concern

The financial statements have been prepared on a going concern basis.

Turnover

Turnover represents revenue earned under a wide variety of contracts to provide professional services and advice to third parties. Revenue is recognised as earned when, and to that extent that, the firm obtains the right to consideration in exchange for its performance under those contracts. It is measured at the fair value of the right to consideration, which represents amounts chargeable to clients, including recoverable expenses and disbursements, but excluding value added tax. For incomplete contracts, an assessment is made of the extent to which revenue has been earned. This assessment takes into account the nature of the assignment, its stage of completion and the relevant contract terms. Revenue in respect of contingent fee arrangements (over and above any minimum agreed fee) is recognised when the contingent event occurs and the recoverability of the fee is assured. Unbilled revenue is included as accrued income within 'other debtors'.

Dilapidation provisions
The company is required to perform dilapidation repairs on leased properties prior to the properties being vacated at the end of their lease term. Provision for such costs are made over the final years of the lease where a legal obligation is identified and the liability can be reasonably quantified.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and machinery	15% - 33% reducing balance

Fixed asset investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

Page 2

BSMH Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

2	Fixed assets

		Tangible assets £			Investments £			Total £
Cost
At 1 April 2015		479,399			150			479,549
Additions		3,269			-			3,269
At 31 March 2016		482,668			150			482,818
Depreciation/provision
At 1 April 2015		418,978			100			419,078
Charge for the year		11,739			-			11,739
At 31 March 2016		430,717			100			430,817
Net book value
At 31 March 2016		51,951			50			52,001
At 31 March 2015		60,421			50			60,471

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Holding

Proportion of voting rights and shares held

Principal activity

Subsidiary undertakings
BSMSR Limited	Ordinary £1	100%	Dormant

Joint ventures
BSMH Building Surveying Services Limited	Ordinary £1	50%	Building Surveying

Page 3

BSMH Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

The profit for the financial period of BSMH Building Surveying Services Limited was £59,165 and the aggregate amount of capital and reserves at the end of the period was £119,883.

As of 30 March 2016 BSMH Building Surveying Services Limited entered a members' voluntary liquidation with the trade being absorbed into BSMH Limited.

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £5.00 each		79,063			395,315			79,063			395,315

4	Related party transactions

5

Control

The company is controlled by the directors.

Page 4