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Report of the Directors and |
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Financial Statements |
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for the Year Ended 30 September 2017 |
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for |
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BMG Research Ltd |
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REGISTERED NUMBER:
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Report of the Directors and |
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Financial Statements |
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for the Year Ended 30 September 2017 |
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for |
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BMG Research Ltd |
BMG Research Ltd (Registered number: 02841970) |
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Contents of the Financial Statements |
for the Year Ended 30 September 2017 |
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Page |
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Company Information | 1 |
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Report of the Directors | 2 |
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Report of the Independent Auditors | 4 |
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Income Statement | 6 |
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Other Comprehensive Income | 7 |
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Balance Sheet | 8 |
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Statement of Changes in Equity | 9 |
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Cash Flow Statement | 10 |
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Notes to the Cash Flow Statement | 11 |
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Notes to the Financial Statements | 12 |
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BMG Research Ltd |
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Company Information |
for the Year Ended 30 September 2017 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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SENIOR STATUTORY AUDITOR: |
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AUDITORS: |
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Chartered Accountants |
Registered Auditors |
Blackthorn House |
St Pauls Square |
Birmingham |
West Midlands |
B3 1RL |
BMG Research Ltd (Registered number: 02841970) |
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Report of the Directors |
for the Year Ended 30 September 2017 |
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The directors present their report with the financial statements of the company for the year ended 30 September 2017. |
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DIVIDENDS |
No interim dividends were paid during the year on any of the shares. The directors recommend a final
dividend of 2p per share on the Ordinary Shares £1 shares but none on any other classes of shares. |
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The total distribution of dividends for the year ended 30 September 2017 will be £
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DIRECTORS |
The directors set out in the table below have held office during the whole of the period from 1 October 2016 to |
the date of this report. |
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The directors shown below were in office at 30 September 2017 but did not hold any interest in the Ordinary |
Shares shares of £1 each at 1 October 2016 or 30 September 2017. |
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EMPLOYMENT POLICIES AND EMPLOYEE INVOLVEMENT |
The company's policy is to provide, wherever possible, employment and training and development |
opportunities for disabled people. It is also committed to supporting employees who become disabled and to |
helping disabled employees make the best possible use of their skills and potential. |
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The company has a culture of continuous improvement through investment in people at all levels within the |
company. The company is committed to pursuing equality and diversity in all its employment activities |
including recruitment, training, career development and promotion and ensuring there is no bias or |
discrimination in the treatment of people. |
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Employees are consulted regularly about changes which may affect them either through employee forums. |
These forums, together with regular meetings with particular groups of employees, are used to ensure that |
employees are kept up to date with the company's business performance and any financial and economic |
factors affecting the performance of the company. |
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STATEMENT OF DIRECTORS' RESPONSIBILITIES |
The directors are responsible for preparing the Report of the Directors and the financial statements in |
accordance with applicable law and regulations. |
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Company law requires the directors to prepare financial statements for each financial year. Under that law |
the directors have elected to prepare the financial statements in accordance with United Kingdom Generally |
Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including |
Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of |
Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied |
that they give a true and fair view of the state of affairs of the company and of the profit or loss of the |
company for that period. In preparing these financial statements, the directors are required to: |
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- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
company will continue in business. |
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The directors are responsible for keeping adequate accounting records that are sufficient to show and explain |
the company's transactions and disclose with reasonable accuracy at any time the financial position of the |
company and enable them to ensure that the financial statements comply with the Companies Act 2006. They |
are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for |
the prevention and detection of fraud and other irregularities. |
BMG Research Ltd (Registered number: 02841970) |
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Report of the Directors |
for the Year Ended 30 September 2017 |
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STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the |
Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps |
that he or she ought to have taken as a director in order to make himself or herself aware of any relevant |
audit information and to establish that the company's auditors are aware of that information. |
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ON BEHALF OF THE BOARD: |
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Report of the Independent Auditors to the Members of |
BMG Research Ltd |
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Opinion |
We have audited the financial statements of BMG Research Ltd (the 'company') for the year ended |
30 September 2017 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, |
Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the |
Financial Statements, including a summary of significant accounting policies. The financial reporting |
framework that has been applied in their preparation is applicable law and United Kingdom Accounting |
Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the |
UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). |
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This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of |
the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's |
members those matters we are required to state to them in a Report of the Auditors and for no other purpose. |
To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the |
company and the company's members as a body, for our audit work, for this report, or for the opinions we |
have formed. |
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In our opinion the financial statements: |
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give a true and fair view of the state of the company's affairs as at 30 September 2017 and of its profit for
the year then ended; |
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
and |
- | have been prepared in accordance with the requirements of the Companies Act 2006. |
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Basis for opinion |
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and |
applicable law. Our responsibilities under those standards are further described in the Auditors' |
responsibilities for the audit of the financial statements section of our report. We are independent of the |
company in accordance with the ethical requirements that are relevant to our audit of the financial statements |
in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in |
accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and |
appropriate to provide a basis for our opinion. |
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Conclusions relating to going concern |
We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to |
report to you where: |
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the directors' use of the going concern basis of accounting in the preparation of the financial statements is
not appropriate; or |
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the directors have not disclosed in the financial statements any identified material uncertainties that may
cast significant doubt about the company's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue. |
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Other information |
The directors are responsible for the other information. The other information comprises the information in the |
Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon. |
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Our opinion on the financial statements does not cover the other information and we do not express any form |
of assurance conclusion thereon. |
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In connection with our audit of the financial statements, our responsibility is to read the other information and, |
in doing so, consider whether the other information is materially inconsistent with the financial statements or |
our knowledge obtained in the audit or otherwise appears to be materially misstated. If, based on the work we |
have performed, we conclude that there is a material misstatement of this other information, we are required |
to report that fact. We have nothing to report in this regard. |
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Opinion on other matters prescribed by the Companies Act 2006 |
In our opinion, based on the work undertaken in the course of the audit: |
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the information given in the Report of the Directors for the financial year for which the financial statements
are prepared is consistent with the financial statements; and |
- | the Report of the Directors has been prepared in accordance with applicable legal requirements. |
Report of the Independent Auditors to the Members of |
BMG Research Ltd |
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Matters on which we are required to report by exception |
In the light of the knowledge and understanding of the company and its environment obtained in the course of |
the audit, we have not identified material misstatements in the Report of the Directors. |
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We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to |
report to you if, in our opinion: |
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adequate accounting records have not been kept, or returns adequate for our audit have not been received
from branches not visited by us; or |
- | the financial statements are not in agreement with the accounting records and returns; or |
- | certain disclosures of directors' remuneration specified by law are not made; or |
- | we have not received all the information and explanations we require for our audit; or |
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the directors were not entitled to take advantage of the small companies' exemption from the requirement
to prepare a Strategic Report. |
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Responsibilities of directors |
As explained more fully in the Statement of Directors' Responsibilities set out on page two, the directors are |
responsible for the preparation of the financial statements and for being satisfied that they give a true and fair |
view, and for such internal control as the directors determine necessary to enable the preparation of financial |
statements that are free from material misstatement, whether due to fraud or error. |
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In preparing the financial statements, the directors are responsible for assessing the company's ability to |
continue as a going concern, disclosing, as applicable, matters related to going concern and using the going |
concern basis of accounting unless the directors either intend to liquidate the company or to cease |
operations, or have no realistic alternative but to do so. |
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Our responsibilities for the audit of the financial statements |
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free |
from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes |
our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit |
conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. |
Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, |
they could reasonably be expected to influence the economic decisions of users taken on the basis of these |
financial statements. |
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A further description of our responsibilities for the audit of the financial statements is located on the Financial |
Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our |
Report of the Auditors. |
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for and on behalf of
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Chartered Accountants |
Registered Auditors |
Blackthorn House |
St Pauls Square |
Birmingham |
West Midlands |
B3 1RL |
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BMG Research Ltd (Registered number: 02841970) |
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Income Statement |
for the Year Ended 30 September 2017 |
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30.9.17 | 30.9.16 |
Notes | £ | £ |
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TURNOVER |
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Cost of sales |
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GROSS PROFIT |
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Administrative expenses |
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OPERATING PROFIT | 4 |
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Interest receivable and similar income |
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279,504 | 87,582 |
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Interest payable and similar expenses | 5 |
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PROFIT BEFORE TAXATION |
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Tax on profit | 6 |
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PROFIT FOR THE FINANCIAL YEAR |
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BMG Research Ltd (Registered number: 02841970) |
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Other Comprehensive Income |
for the Year Ended 30 September 2017 |
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30.9.17 | 30.9.16 |
Notes | £ | £ |
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PROFIT FOR THE YEAR |
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OTHER COMPREHENSIVE LOSS |
Profits utilised on purchase |
of own shares |
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( |
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Income tax relating to other
comprehensive loss |
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OTHER COMPREHENSIVE LOSS FOR
THE YEAR, NET OF INCOME TAX |
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( |
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TOTAL COMPREHENSIVE INCOME
FOR THE YEAR |
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BMG Research Ltd (Registered number: 02841970) |
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Balance Sheet |
30 September 2017 |
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30.9.17 | 30.9.16 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 8 |
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Investments | 9 |
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CURRENT ASSETS |
Debtors | 10 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 11 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
12 |
( |
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( |
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PROVISIONS FOR LIABILITIES | 16 | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 17 |
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Share premium | 18 |
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Capital redemption reserve | 18 |
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Retained earnings | 18 |
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SHAREHOLDERS' FUNDS |
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The financial statements were approved by the Board of Directors on
behalf by: |
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BMG Research Ltd (Registered number: 02841970) |
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Statement of Changes in Equity |
for the Year Ended 30 September 2017 |
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Called up | Capital |
share | Retained | Share | redemption | Total |
capital | earnings | premium | reserve | equity |
£ | £ | £ | £ | £ |
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Balance at 1 October 2015 |
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Changes in equity |
Increase in share capital | - | - | - | 2,838 | 2,838 |
Reduction in share capital | (2,838 | ) | - | - | - | (2,838 | ) |
Total comprehensive loss | - | (1,228 | ) | - |
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(1,228 | ) |
Balance at 30 September 2016 |
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Changes in equity |
Dividends | - | ( |
) | - | - | ( |
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Total comprehensive income | - |
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- |
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Balance at 30 September 2017 |
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BMG Research Ltd (Registered number: 02841970) |
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Cash Flow Statement |
for the Year Ended 30 September 2017 |
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30.9.17 | 30.9.16 |
Notes | £ | £ |
Cash flows from operating activities |
Cash generated from operations | 1 |
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( |
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Interest paid | ( |
) | ( |
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Interest element of finance lease
payments paid |
( |
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( |
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Tax paid | ( |
) | ( |
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Net cash from operating activities |
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( |
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Cash flows from investing activities |
Purchase of tangible fixed assets | ( |
) | ( |
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Interest received |
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Net cash from investing activities | ( |
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Cash flows from financing activities |
Loan repayments in year | ( |
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Capital repayments in year | ( |
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Amount introduced by directors | 38,000 | - |
Amount withdrawn by directors | (48,164 | ) | (21,969 | ) |
Own shares acquired |
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( |
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Equity dividends paid | ( |
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Amounts advanced to group companies | ( |
) | ( |
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Net cash from financing activities | ( |
) | ( |
) |
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Increase/(decrease) in cash and cash equivalents |
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( |
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Cash and cash equivalents at
beginning of year |
2 |
(10,207 |
) |
800,668 |
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Cash and cash equivalents at end of
year |
2 |
252,155 |
( |
) |
BMG Research Ltd (Registered number: 02841970) |
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Notes to the Cash Flow Statement |
for the Year Ended 30 September 2017 |
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1. |
RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS |
30.9.17 | 30.9.16 |
£ | £ |
Profit before taxation | 234,146 | 23,911 |
Depreciation charges |
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Finance costs | 45,358 | 63,671 |
Finance income | (5 | ) | (1,121 | ) |
386,212 | 212,158 |
Increase in trade and other debtors | ( |
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Increase/(decrease) in trade and other creditors |
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( |
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Cash generated from operations |
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( |
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2. | CASH AND CASH EQUIVALENTS |
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The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in |
respect of these Balance Sheet amounts: |
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Year ended 30 September 2017 |
30.9.17 | 1.10.16 |
£ | £ |
Cash and cash equivalents | 252,155 | 2,732 |
Bank overdrafts |
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( |
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252,155 | (10,207 | ) |
Year ended 30 September 2016 |
30.9.16 | 1.10.15 |
£ | £ |
Cash and cash equivalents | 2,732 | 802,748 |
Bank overdrafts | ( |
) | ( |
) |
(10,207 | ) | 800,668 |
BMG Research Ltd (Registered number: 02841970) |
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Notes to the Financial Statements |
for the Year Ended 30 September 2017 |
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1. | STATUTORY INFORMATION |
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BMG Research Ltd is a
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company's registered number and registered office address can be found on the Company Information |
page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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The nature of the company's operations and principal activities are the provision of independent |
market research. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Preparation of consolidated financial statements |
The financial statements contain information about BMG Research Ltd as an individual company and |
do not contain consolidated financial information as the parent of a group. The company has taken the |
option under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements. |
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The financial statements contain information about Bostock Marketing Group Limited as an individual |
company and do not contain consolidated financial information as the parent of a group. The company |
is exempt under Section 402/405 of the Companies Act 2006 from the requirements to prepare |
consolidated financial statements as all of its subsidiaries are immaterial for the purpose of giving a |
true and fair view, both individually and collectively. |
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Judgements and key sources of estimation uncertainty |
The key assumptions concerning key sources of estimation uncertainty at the reporting date that have |
a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities |
within the next financial year include: |
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Turnover |
As noted below revenue from the rendering of service contracts is measured by reference to the stage |
of completion at the balance sheet date. In arriving at the stage of completion, the directors assess the |
estimated total costs on a contract by contract basis. |
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This estimation is monitored each month for changes in the operation of the individual contract, its |
ongoing and expected future performance and any resultant changes in total costs. Subsequent to the |
completion of contracts, their past performance is reviewed and these results are used by the directors |
to monitor and improve their estimation techniques for contract costs. |
BMG Research Ltd (Registered number: 02841970) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 September 2017 |
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2. | ACCOUNTING POLICIES - continued |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, |
rebates, value added tax and other sales taxes. |
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When the outcome of a transaction can be estimated reliably, turnover from the rendering of services |
is recognised by reference to the stage of completion at the balance sheet date. Stage of completion is |
measured by reference to the proportion that costs incurred for work performed to date bear to the |
estimated total costs. |
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When it is probable that total contract costs will exceed total contract revenue on a service contract, |
the expected loss is recognised as an expense immediately, with a corresponding provision for an |
onerous contract. |
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Progress payments and advances received from customers in excess of the value of revenue |
recognised are not included as revenue but as a liability in the balance sheet. |
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Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the |
expenses recognised that are recoverable. |
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Tangible fixed assets |
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Long leasehold | - |
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Fixtures and fittings | - |
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Computer equipment | - |
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With effect from 1 May 2015, the company revised its depreciation policy for new fixtures and fittings |
acquired, to amortise them over either 20 or 10 years as appropriate to the asset. |
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Depreciation commences on assets when they are brought into use. |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the balance sheet date. |
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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. |
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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. |
BMG Research Ltd (Registered number: 02841970) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 September 2017 |
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2. | ACCOUNTING POLICIES - continued |
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Research and development |
Expenditure on research and development is written off in the year in which it is incurred. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at |
the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of |
exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at |
the operating result. |
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Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. |
Those held under hire purchase contracts are depreciated over their estimated useful lives. Those |
held under finance leases are depreciated over their estimated useful lives or the lease term, |
whichever is the shorter. |
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The interest element of these obligations is charged to profit or loss over the relevant period. The |
capital element of the future payments is treated as a liability. |
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Rentals paid under operating leases are charged to profit or loss on a straight line basis over the |
period of the lease. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
30.9.17 | 30.9.16 |
£ | £ |
Wages and salaries |
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Social security costs |
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Other pension costs |
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The average number of employees during the year was as follows: |
30.9.17 | 30.9.16 |
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Operations | 129 | 251 |
Research | 23 | 22 |
Management and Administration | 14 | 17 |
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30.9.17 | 30.9.16 |
£ | £ |
Directors' remuneration |
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Directors' pension contributions to money purchase schemes |
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The number of directors to whom retirement benefits were accruing was as follows: |
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Money purchase schemes |
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BMG Research Ltd (Registered number: 02841970) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 September 2017 |
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3. | EMPLOYEES AND DIRECTORS - continued |
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Information regarding the highest paid director is as follows: |
30.9.17 | 30.9.16 |
£ | £ |
Emoluments etc |
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Pension contributions to money purchase schemes |
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4. | OPERATING PROFIT |
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The operating profit is stated after charging/(crediting): |
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30.9.17 | 30.9.16 |
£ | £ |
Hire of plant and machinery |
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Other operating leases |
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( |
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Depreciation - owned assets |
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Depreciation - assets on finance leases |
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Auditors' remuneration |
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5. | INTEREST PAYABLE AND SIMILAR EXPENSES |
30.9.17 | 30.9.16 |
£ | £ |
Bank interest |
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Bank loan interest |
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Interest on late payments of tax |
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Finance charges payable under finance
leases |
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6. | TAXATION |
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Analysis of the tax charge |
The tax charge on the profit for the year was as follows: |
30.9.17 | 30.9.16 |
£ | £ |
Current tax: |
UK corporation tax |
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Deferred tax |
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Tax on profit |
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UK corporation tax has been charged at 19.50% (2016 - 20%). |
BMG Research Ltd (Registered number: 02841970) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 September 2017 |
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6. | TAXATION - continued |
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Reconciliation of total tax charge included in profit and loss |
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The |
difference is explained below: |
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30.9.17 | 30.9.16 |
£ | £ |
Profit before tax |
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Profit multiplied by the standard rate of corporation tax in the UK of
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Effects of: |
Expenses not deductible for tax purposes | ( |
) |
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Depreciation in excess of capital allowances |
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Utilisation of tax losses | ( |
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Adjustments to tax charge in respect of previous periods |
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Total tax charge | 44,853 | 21,600 |
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Tax effects relating to effects of other comprehensive income |
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There were no tax effects for the year ended 30 September 2017. |
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30.9.16 |
Gross | Tax | Net |
£ | £ | £ |
Profits utilised on purchase |
of own shares | ( |
) | - | (701 | ) |
(701 | ) | - | (701 | ) |
|
Finance No.2 Bill 2015 became substantively enacted in October 2015, reducing the main rate of |
corporation tax from 20% to 19% from 1 April 2017, and Finance Bill 2016 became substantively |
enacted in September 2016 further reducing the rate to 17% from 1 April 2020. |
|
7. | DIVIDENDS |
30.9.17 | 30.9.16 |
£ | £ |
Ordinary Shares shares of £1 each |
Final |
|
|
BMG Research Ltd (Registered number: 02841970) |
|
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2017 |
|
8. | TANGIBLE FIXED ASSETS |
Fixtures |
Long | and | Computer |
leasehold | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 October 2016 | 1,126,332 | 260,060 | 304,852 | 1,691,244 |
Additions |
|
|
|
|
Disposals |
|
|
( |
) | ( |
) |
At 30 September 2017 |
|
|
|
|
DEPRECIATION |
At 1 October 2016 |
|
|
|
|
Charge for year |
|
|
|
|
Eliminated on disposal |
|
|
( |
) | ( |
) |
At 30 September 2017 |
|
|
|
|
NET BOOK VALUE |
At 30 September 2017 |
|
|
|
|
At 30 September 2016 |
|
|
|
|
|
Included in the above are fixed assets pledged as security against bank loans and finance leases. |
|
Fixed assets, included in the above, which are held under finance leases are as follows: |
Fixtures |
Long | and | Computer |
leasehold | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 October 2016 |
and 30 September 2017 |
|
|
|
|
DEPRECIATION |
At 1 October 2016 | 1,582 |
|
|
|
Charge for year | 2,242 |
|
|
|
At 30 September 2017 | 3,824 |
|
|
|
NET BOOK VALUE |
At 30 September 2017 | 151,283 |
|
|
|
At 30 September 2016 | 153,525 |
|
|
|
BMG Research Ltd (Registered number: 02841970) |
|
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2017 |
|
9. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 October 2016 |
and 30 September 2017 |
|
NET BOOK VALUE |
At 30 September 2017 |
|
At 30 September 2016 |
|
|
The company's investments at the Balance Sheet date in the share capital of companies include the |
following: |
|
|
Registered office: Beech House 1a Greenfield Crescent, Edgbaston, Birmingham, B15 3BE |
Nature of business:
|
% |
Class of shares: | holding |
|
|
30.9.17 | 30.9.16 |
£ | £ |
Aggregate capital and reserves |
|
|
|
|
Registered office: Beech House 1a Greenfield Crescent, Edgbaston, Birmingham, B15 3BE |
Nature of business:
|
% |
Class of shares: | holding |
|
|
30.9.17 | 30.9.16 |
£ | £ |
Aggregate capital and reserves |
|
|
|
10. | DEBTORS |
30.9.17 | 30.9.16 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
|
|
Amounts owed by group undertakings |
|
|
Amounts recoverable on contracts |
|
|
Other debtors |
|
|
Directors' current accounts | 79,999 | 69,835 |
Prepayments and accrued income |
|
|
|
|
BMG Research Ltd (Registered number: 02841970) |
|
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2017 |
|
10. | DEBTORS - continued |
30.9.17 | 30.9.16 |
£ | £ |
Amounts falling due after more than one year: |
Amounts owed by group undertakings |
|
|
Tax |
|
|
|
|
|
Aggregate amounts |
|
|
|
11. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.17 | 30.9.16 |
£ | £ |
Bank loans and overdrafts (see note 13) |
|
|
Finance leases (see note 14) |
|
|
Trade creditors |
|
|
Tax |
|
|
Social security and other taxes |
|
|
Other creditors |
|
|
Accruals and deferred income |
|
|
|
|
|
12. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
30.9.17 | 30.9.16 |
£ | £ |
Bank loans (see note 13) |
|
|
Finance leases (see note 14) |
|
|
Amounts owed to group undertakings |
|
|
|
|
|
13. | LOANS |
|
An analysis of the maturity of loans is given below: |
|
30.9.17 | 30.9.16 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank overdrafts |
|
|
Bank loans |
|
|
|
|
|
Amounts falling due between two and five years: |
Bank loans falling due in two to five
years |
|
|
|
Amounts falling due in more than five years: |
BMG Research Ltd (Registered number: 02841970) |
|
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2017 |
|
13. | LOANS - continued |
30.9.17 | 30.9.16 |
£ | £ |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans falling due after five years -
payable in instalments |
442,064 |
486,998 |
|
Bank loans, which include both a fixed rate and a variable rate loan, are repayable over fifteen years in |
monthly instalments and interest is payable at a fixed rate of 4.29% and a variable rate of 2.8% above |
base rate. |
|
14. | LEASING AGREEMENTS |
|
Minimum lease payments fall due as follows: |
|
Finance leases |
30.9.17 | 30.9.16 |
£ | £ |
Net obligations repayable: |
Within one year |
|
|
Between one and five years |
|
|
|
|
|
Non-cancellable |
operating leases |
30.9.17 | 30.9.16 |
£ | £ |
Within one year |
|
|
Between one and five years |
|
|
|
|
|
Operating leases primarily relate to company vehicles. |
|
Finance leases primarily relate to fixtures and fittings and computer equipment. |
BMG Research Ltd (Registered number: 02841970) |
|
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2017 |
|
15. | SECURED DEBTS |
|
The following secured debts are included within creditors: |
|
30.9.17 | 30.9.16 |
£ | £ |
Bank overdraft |
|
|
Bank loans |
|
|
Finance leases | 139,118 | 185,638 |
|
|
|
The company issued an all monies debenture dated 22nd September 1994, in favour of the Bank of |
Scotland, over all of the assets of the company. |
|
The company issued a charge over its premises at 1 a & 1 b Greenfield Crescent, Edgbaston, |
Birmingham, in favour of the Bank of Scotland. |
|
Finance lease liabilities are secured on the assets acquired. |
|
16. | PROVISIONS FOR LIABILITIES |
30.9.17 | 30.9.16 |
£ | £ |
Deferred tax | 57,722 | 21,376 |
|
Deferred |
tax |
£ |
Balance at 1 October 2016 |
|
Accelerated capital allowances | 389 |
Unrelieved tax losses | 36,492 |
Change in rate of taxation | (535 | ) |
Balance at 30 September 2017 |
|
|
17. | CALLED UP SHARE CAPITAL |
|
Allotted and issued: |
Number: | Class: | Nominal | 30.9.17 | 30.9.16 |
value: | £ | £ |
|
Ordinary shares | £1 | 216,756 | 216,756 |
|
18. | RESERVES |
Capital |
Retained | Share | redemption |
earnings | premium | reserve | Totals |
£ | £ | £ | £ |
|
At 1 October 2016 |
|
|
|
1,427,771 |
Profit for the year |
|
|
Dividends | ( |
) | ( |
) |
At 30 September 2017 |
|
|
|
1,612,729 |
BMG Research Ltd (Registered number: 02841970) |
|
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2017 |
|
19. | PENSION COMMITMENTS |
|
The company operates three defined contribution pension schemes for all employees. The charge for |
the year was £97,227 (2016 - £91,039). |
|
20. | ULTIMATE PARENT COMPANY |
|
HWM Holdings Limited is regarded by the directors as being the company's ultimate parent company. |
|
21. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
|
The following advances and credits to directors subsisted during the years ended 30 September 2017 |
and 30 September 2016: |
|
30.9.17 | 30.9.16 |
£ | £ |
|
Balance outstanding at start of year |
|
|
Amounts advanced |
|
|
Amounts repaid | ( |
) |
|
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
|
|
|
|
Balance outstanding at start of year |
|
|
Amounts advanced |
|
|
Amounts repaid |
|
|
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
|
|
|
|
Balance outstanding at start of year |
|
|
Amounts advanced |
|
|
Amounts repaid |
|
|
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
|
|
|
No interest is paid on the above loans and all loans are repayable in full on demand. |
|
22. | RELATED PARTY DISCLOSURES |
|
|
30.9.17 | 30.9.16 |
£ | £ |
Amount due from related party |
|
|
|
|
30.9.17 | 30.9.16 |
£ | £ |
Amount due to related party |
|
|
BMG Research Ltd (Registered number: 02841970) |
|
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2017 |
|
22. | RELATED PARTY DISCLOSURES - continued |
|
During the year, a total of key management personnel compensation of £
|
was paid. |
|
The controlling party is Mrs D A Hands. |