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Registration number: 07295830

Business Edge Properties Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2021

 

Business Edge Properties Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Business Edge Properties Limited

Company Information

Directors

Mr M R Creamer

Mrs M J Creamer

Registered office

Keydell Lodge
226 Portsmouth Road
Horndean
Waterlooville
Hampshire
PO8 9SY

Accountants

MMO Limited
Chartered Accountants
Wellesley House
204 London Road
Waterlooville
Hampshire
PO7 7AN

 

Business Edge Properties Limited

(Registration number: 07295830)
Balance Sheet as at 31 December 2021

Note

2021
£

2020
£

Fixed assets

 

Tangible assets

4

275,595

275,595

Current assets

 

Debtors

5

100

100

Cash at bank and in hand

 

84,561

84,574

 

84,661

84,674

Creditors: Amounts falling due within one year

6

(141,540)

(141,540)

Net current liabilities

 

(56,879)

(56,866)

Net assets

 

218,716

218,729

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

218,616

218,629

Shareholders' funds

 

218,716

218,729

For the financial year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 18 March 2022 and signed on its behalf by:
 

.........................................
Mr M R Creamer
Director

 

Business Edge Properties Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Keydell Lodge
226 Portsmouth Road
Horndean
Waterlooville
Hampshire
PO8 9SY
England

The principal place of business is:
6 Dragoon House
Hussar Court
Westside View
Waterlooville
PO7 7SF
England

These financial statements were authorised for issue by the Board on 18 March 2022.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and buildings

Nil

 

Business Edge Properties Limited

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

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2020 - 2).

 

Business Edge Properties Limited

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

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 January 2021

275,595

275,595

At 31 December 2021

275,595

275,595

Depreciation

Carrying amount

At 31 December 2021

275,595

275,595

At 31 December 2020

275,595

275,595

Included within the net book value of land and buildings above is £275,595 (2020 - £275,595) in respect of freehold land and buildings.
 

5

Debtors

Current

2021
£

2020
£

Other debtors

100

100

 

Business Edge Properties Limited

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

6

Creditors

Creditors: amounts falling due within one year

2021
£

2020
£

Due within one year

Accruals and deferred income

6,500

6,500

Other creditors

135,040

135,040

141,540

141,540

7

Share capital

Allotted, called up and fully paid shares

 

2021

2020

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

8

Related party transactions

Summary of transactions with other related parties

Business Edge Limited
 The balance is in respect of an inter company loan.
 

Loans from related parties

2021

Other related parties
£

Total
£

At start of period

60,040

60,040

At end of period

60,040

60,040

2020

Other related parties
£

Total
£

At start of period

60,040

60,040

At end of period

60,040

60,040