Company Registration No. 10152483 (England and Wales)
Bulworthy Lodges Ltd (formerly Bulworthy Holdings Ltd)
Unaudited accounts
for the year ended 31 March 2023
Bulworthy Lodges Ltd (formerly Bulworthy Holdings Ltd)
Unaudited accounts
Contents
Bulworthy Lodges Ltd (formerly Bulworthy Holdings Ltd)
Company Information
for the year ended 31 March 2023
Company Number
10152483 (England and Wales)
Registered Office
Bulworthy Forest House
Webbery
Bideford
EX39 4PU
Accountants
Westerly Accountancy Ltd
24 Orchard Road
Wrafton
Braunton
EX33 2DZ
Bulworthy Lodges Ltd (formerly Bulworthy Holdings Ltd)
Statement of financial position
as at 31 March 2023
Intangible assets
417,618
-
Cash at bank and in hand
41,190
-
Creditors: amounts falling due within one year
(47,637)
(39,289)
Net current (liabilities)/assets
(5,343)
320,186
Total assets less current liabilities
1,141,875
1,157,611
Creditors: amounts falling due after more than one year
(1,036,344)
(1,147,980)
Called up share capital
100
100
Profit and loss account
105,431
9,531
Shareholders' funds
105,531
9,631
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 28 September 2023 and were signed on its behalf by
Elizabeth Wilton
Director
Company Registration No. 10152483
Bulworthy Lodges Ltd (formerly Bulworthy Holdings Ltd)
Notes to the Accounts
for the year ended 31 March 2023
Bulworthy Lodges Ltd (formerly Bulworthy Holdings Ltd) is a private company, limited by shares, registered in England and Wales, registration number 10152483. The registered office is Bulworthy Forest House, Webbery, Bideford, EX39 4PU.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 31 March 2023 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 April 2021.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
Buildings - Straight line 40 years
Plant & machinery
Straight line 3-5 years
Motor vehicles
Straight line 3 years
Fixtures & fittings
Straight line 5 years
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Goodwill - 20 years straight line
Bulworthy Lodges Ltd (formerly Bulworthy Holdings Ltd)
Notes to the Accounts
for the year ended 31 March 2023
4
Intangible fixed assets
Goodwill
Charge for the year
16,271
5
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At cost
Additions
718,359
16,668
5,733
2,951
743,711
At 31 March 2023
718,359
16,668
5,733
2,951
743,711
Charge for the year
9,719
2,516
1,433
443
14,111
At 31 March 2023
9,719
2,516
1,433
443
14,111
At 31 March 2023
708,640
14,152
4,300
2,508
729,600
6
Investments
Subsidiary undertakings
Valuation at 1 April 2022
837,425
Valuation at 31 March 2023
-
The investment in the Company's subsidiary, Bulworthy Forest Holdings Ltd, was written down on the conclusion of the hive up of the subsidiary's business and assets on 1 July 2022.
Amounts falling due within one year
Amounts due from group undertakings etc.
-
359,475
Accrued income and prepayments
1,004
-
Bulworthy Lodges Ltd (formerly Bulworthy Holdings Ltd)
Notes to the Accounts
for the year ended 31 March 2023
8
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
21,775
-
Taxes and social security
19,652
-
9
Creditors: amounts falling due after more than one year
2023
2022
Loans from directors
746,016
735,480
The prior year loan to Mr G and Mrs R May was refinanced during the year with Nat West bank plc. The bank loans are secured and repayable by July-37. Interest is payable at 2.75% above base rate.
10
Average number of employees
During the year the average number of employees was 7 (2022: 0).