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REGISTERED NUMBER: 02463401 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2021

for

Balgores Leasing Limited

Balgores Leasing Limited (Registered number: 02463401)






Contents of the Financial Statements
for the Year Ended 31 December 2021




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4

Chartered Certified Accountants' Report 8

Balgores Leasing Limited

Company Information
for the Year Ended 31 December 2021







DIRECTORS: M Wilson
P A Austin
P Slyfield





SECRETARY: Mrs V Wilson





REGISTERED OFFICE: 1 Bryant Avenue
Romford
Essex
RM3 0AP





REGISTERED NUMBER: 02463401 (England and Wales)





ACCOUNTANTS: Edison and Co
Chartered Certified Accountants
29 Herbert Road
Hornchurch
Essex
RM11 3LH

Balgores Leasing Limited (Registered number: 02463401)

Statement of Financial Position
31 December 2021

31.12.21 31.12.20
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 112,154 93,165
Investment property 5 160,000 160,000
272,154 253,165

CURRENT ASSETS
Stocks 226,663 53,504
Debtors 6 230,122 352,554
Cash at bank and in hand 678,501 550,641
1,135,286 956,699
CREDITORS
Amounts falling due within one year 7 309,257 278,034
NET CURRENT ASSETS 826,029 678,665
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,098,183

931,830

PROVISIONS FOR LIABILITIES 8 15,350 15,350
NET ASSETS 1,082,833 916,480

CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Retained earnings 10 1,081,833 915,480
SHAREHOLDERS' FUNDS 1,082,833 916,480

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the Company to obtain an audit of its financial statements for the year ended 31 December 2021 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.

Balgores Leasing Limited (Registered number: 02463401)

Statement of Financial Position - continued
31 December 2021


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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 August 2022 and were signed on its behalf by:





M Wilson - Director


Balgores Leasing Limited (Registered number: 02463401)

Notes to the Financial Statements
for the Year Ended 31 December 2021

1. STATUTORY INFORMATION

Balgores Leasing Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

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. The surplus or deficit on revaluation is recognised in the profit and loss account. Where gains are recognised, deferred taxation is provided on the gains at the rates expected to apply when the property is sold.
Where fair value cannot be achieved without undue cost or effort, investment property is accounted for as tangible fixed assets.

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 statement of financial position date.


Balgores Leasing Limited (Registered number: 02463401)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2020 - 19 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 January 2021 99,618 167,937 267,555
Additions - 94,765 94,765
Disposals - (91,002 ) (91,002 )
At 31 December 2021 99,618 171,700 271,318
DEPRECIATION
At 1 January 2021 86,465 87,925 174,390
Charge for year 3,288 34,096 37,384
Eliminated on disposal - (52,610 ) (52,610 )
At 31 December 2021 89,753 69,411 159,164
NET BOOK VALUE
At 31 December 2021 9,865 102,289 112,154
At 31 December 2020 13,153 80,012 93,165

Balgores Leasing Limited (Registered number: 02463401)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2021
and 31 December 2021 160,000
NET BOOK VALUE
At 31 December 2021 160,000
At 31 December 2020 160,000

The property was last valued in 2017 by the director, Mr M Wilson who holds no qualifications in the property valuation but has extensive experience and knowledge of properties in the area. No valuation was obtained as in the opinion of the director, the fair value of the investment property at the year end does not differ materially from that valued above.

Fair value at 31 December 2021 is represented by:
£   
Valuation in 2017 76,750
Cost 83,250
160,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Trade debtors 230,122 352,304
Other debtors - 250
230,122 352,554

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Trade creditors 121,681 61,260
Taxation and social security 181,465 194,458
Other creditors 6,111 22,316
309,257 278,034

8. PROVISIONS FOR LIABILITIES
31.12.21 31.12.20
£    £   
Deferred tax 15,350 15,350

Balgores Leasing Limited (Registered number: 02463401)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

8. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 January 2021 15,350
Balance at 31 December 2021 15,350

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.21 31.12.20
value: £    £   
1,000 Ordinary £1 1,000 1,000

10. RESERVES

Included in retained earnings is £61,400 of profits which is not available for distribution as they are unrealised.

Chartered Certified Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Balgores Leasing Limited

The following reproduces the text of the report prepared for the directors in respect of the Company's annual unaudited financial statements. In accordance with the Companies Act 2006, the Company is only required to file a Statement of Financial Position. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Balgores Leasing Limited for the year ended 31 December 2021 which comprise the Statement of Comprehensive Income, Statement of Financial Position and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Balgores Leasing Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Balgores Leasing Limited and state those matters that we have agreed to state to the Board of Directors of Balgores Leasing Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Balgores Leasing Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Balgores Leasing Limited. You consider that Balgores Leasing Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Balgores Leasing Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Edison and Co
Chartered Certified Accountants
29 Herbert Road
Hornchurch
Essex
RM11 3LH


Date: .............................................