REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31st March 2022 |
for |
Badgeworth Properties Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31st March 2022 |
for |
Badgeworth Properties Limited |
Badgeworth Properties Limited (Registered number: 11940476) |
Contents of the Financial Statements |
for the Year Ended 31st March 2022 |
Page |
Balance Sheet | 1 |
Notes to the Financial Statements | 2 |
Badgeworth Properties Limited (Registered number: 11940476) |
Balance Sheet |
31st March 2022 |
31.3.22 | 31.3.21 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 7 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Retained earnings |
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. |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Badgeworth Properties Limited (Registered number: 11940476) |
Notes to the Financial Statements |
for the Year Ended 31st March 2022 |
1. | COMPANY INFORMATION |
Badgeworth Properties Limited is a |
Registered number: |
Registered office: |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Critical accounting judgements and key sources of estimation uncertainty |
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. |
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. |
There have been no critical judgements, estimates or assumptions made in the preparation of these financial statements. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
Related parties |
The Director Dr Rassam is also a Director and majority shareholder in Rassam Medical Consultancy Ltd. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1st April 2021 |
Revaluations | 57,183 |
At 31st March 2022 |
NET BOOK VALUE |
At 31st March 2022 |
At 31st March 2021 |
Badgeworth Properties Limited (Registered number: 11940476) |
Notes to the Financial Statements - continued |
for the Year Ended 31st March 2022 |
4. | INVESTMENT PROPERTY - continued |
. |
Investment property consists of 2 properties 23 Gleneagles, Goldcrest Drive, Cardiff CF23 7HJ costing £108,786.64 and 60 Chapel Wood, Cardiff, CF23 9EF costing £146,817 purchased 16 September 2019 and 22 January 2021. |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.22 | 31.3.21 |
£ | £ |
Trade debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.22 | 31.3.21 |
£ | £ |
Trade creditors |
Tax |
Directors' current accounts | 83,751 | 83,511 |
Accrued expenses |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.3.22 | 31.3.21 |
£ | £ |
Other loans |
Other loans relates to mortgages on the Investment Property from Kensington Mortgages Limited and Spicketts Battricks which are both secured by charges lodged at Companies House. |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.3.22 | 31.3.21 |
value: | £ | £ |
Ordinary A | £1 | 100 | 100 |
Ordinary B | £1 | 1 | 1 |
101 | 101 |
On incorporation 100 A and 1 B Shares were issued at par value. |
The A and B Shares rank pari passu in respect of all rights. |
9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 31st March 2022 and 31st March 2021: |
31.3.22 | 31.3.21 |
£ | £ |
Balance outstanding at start of year | ( |
) | ( |
) |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
) | ( |
) |
The loan is repayable on demand and no interest was charged during the year. |
Badgeworth Properties Limited (Registered number: 11940476) |
Notes to the Financial Statements - continued |
for the Year Ended 31st March 2022 |
10. | RELATED PARTY DISCLOSURES |
The Director Dr Rassam is also a Director and majority shareholder in Rassam Medical Consultancy Ltd. |
11. | ULTIMATE CONTROLLING PARTY |
Dr Rassam is the ultimate controlling party by virtue of holding 100% of the voting share capital. |