REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 |
FOR |
BRADFORD & ALLERTON FLATS LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 |
FOR |
BRADFORD & ALLERTON FLATS LIMITED |
BRADFORD & ALLERTON FLATS LIMITED (REGISTERED NUMBER: 01636904) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
BRADFORD & ALLERTON FLATS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Suite 1, Aireside House |
Royd Ings Avenue |
Keighley |
West Yorkshire |
BD21 4BZ |
BRADFORD & ALLERTON FLATS LIMITED (REGISTERED NUMBER: 01636904) |
BALANCE SHEET |
31 DECEMBER 2021 |
2021 | 2020 |
Notes | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Revaluation reserve | 8 |
Other reserves |
SHAREHOLDERS' FUNDS |
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. |
BRADFORD & ALLERTON FLATS LIMITED (REGISTERED NUMBER: 01636904) |
BALANCE SHEET - continued |
31 DECEMBER 2021 |
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 |
BRADFORD & ALLERTON FLATS LIMITED (REGISTERED NUMBER: 01636904) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
1. | STATUTORY INFORMATION |
Bradford & Allerton Flats Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. |
2. | ACCOUNTING POLICIES |
BASIS OF PREPARING THE FINANCIAL STATEMENTS |
TURNOVER |
Turnover is recognised as the fair value of the consideration received or receivable during the year, from members, for service charges, ground rents and garage rents. |
INVESTMENT PROPERTY |
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss. |
TAXATION |
The company is carrying on a mutual business for the benefit of its members and therefore any surplus arising from members' contributions will not be assessable to Corporation Tax. Any investment income received may be assessable to Corporation Tax in the normal manner depending on the amount of income received. |
DEFERRED TAX |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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. |
BRADFORD & ALLERTON FLATS LIMITED (REGISTERED NUMBER: 01636904) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
2. | ACCOUNTING POLICIES - continued |
GOING CONCERN |
The financial statements have been prepared on a going concern basis. |
The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and for a period of at least 12 months from the date of approval of these financial statements. |
OTHER RESERVES - MAINTENANCE RESERVE |
Repair costs are written off as expenditure is incurred. |
Any surplus of income over expenditure is required to be carried forward as maintenance reserve for use towards future repair costs, however such reserve is not necessarily intended to be sufficient to cover actual major items of repair expenditure which may have to be incurred. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2020 - NIL). |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 January 2021 |
and 31 December 2021 |
NET BOOK VALUE |
At 31 December 2021 |
At 31 December 2020 |
The investment properties comprise of 12 freehold garages together with a freehold interest in the land and buildings at 1 to 23 Wensleydale Court, Leeds. The properties were acquired at nil cost to the company. The garages have been revalued to include them in the accounts at their open market value. They were valued at 31 December 2021 by the directors at £500 each (2020 - £500) and this is considered to be their open market value. |
The freehold interest in the land and buildings at 1 to 23 Wensleydale Court, Leeds are subject to a 999 year lease with the members of the company. The reversionary freehold interest is considered by the directors to have negligible market value. |
BRADFORD & ALLERTON FLATS LIMITED (REGISTERED NUMBER: 01636904) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade creditors |
Other creditors |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2021 | 2020 |
value: | £ | £ |
Ordinary shares | 1 | 23 | 23 |
8. | RESERVES |
Revaluation |
reserve |
£ |
At 1 January 2021 |
and 31 December 2021 |
The revaluation reserve represents the surplus arising on the revaluation of freehold land and buildings less a provision for deferred tax. The deferred tax provision on the surplus on the revaluation of the company's investment property amounts to £1,140 (2020: £1,140). |