B & L Lettings Ltd 12180687 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is Property lettings Digita Accounts Production Advanced 6.30.9574.0 true true 12180687 2022-04-01 2023-03-31 12180687 2023-03-31 12180687 bus:Director1 1 2023-03-31 12180687 bus:Director2 1 2023-03-31 12180687 bus:OrdinaryShareClass1 2023-03-31 12180687 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 12180687 core:Non-currentFinancialInstruments 2023-03-31 12180687 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 12180687 core:FurnitureFittings 2023-03-31 12180687 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-31 12180687 bus:SmallEntities 2022-04-01 2023-03-31 12180687 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 12180687 bus:FullAccounts 2022-04-01 2023-03-31 12180687 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 12180687 bus:RegisteredOffice 2022-04-01 2023-03-31 12180687 bus:Director1 2022-04-01 2023-03-31 12180687 bus:Director1 1 2022-04-01 2023-03-31 12180687 bus:Director2 2022-04-01 2023-03-31 12180687 bus:Director2 1 2022-04-01 2023-03-31 12180687 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 12180687 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 12180687 core:FurnitureFittings 2022-04-01 2023-03-31 12180687 core:LandBuildings core:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 12180687 core:PlantMachinery 2022-04-01 2023-03-31 12180687 countries:UnitedKingdom 2022-04-01 2023-03-31 12180687 2022-03-31 12180687 bus:Director1 1 2022-03-31 12180687 bus:Director2 1 2022-03-31 12180687 core:FurnitureFittings 2022-03-31 12180687 core:LandBuildings core:OwnedOrFreeholdAssets 2022-03-31 12180687 2021-04-01 2022-03-31 12180687 2022-03-31 12180687 bus:Director1 1 2022-03-31 12180687 bus:Director2 1 2022-03-31 12180687 bus:OrdinaryShareClass1 2022-03-31 12180687 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 12180687 core:Non-currentFinancialInstruments 2022-03-31 12180687 core:Non-currentFinancialInstruments core:AfterOneYear 2022-03-31 12180687 core:FurnitureFittings 2022-03-31 12180687 core:LandBuildings core:OwnedOrFreeholdAssets 2022-03-31 12180687 bus:Director1 1 2021-04-01 2022-03-31 12180687 bus:Director2 1 2021-04-01 2022-03-31 12180687 bus:Director1 1 2021-03-31 12180687 bus:Director2 1 2021-03-31 iso4217:GBP xbrli:pure xbrli:shares

Filleted
Registration number: 12180687

B & L Lettings Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2023

 

B & L Lettings Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

B & L Lettings Ltd

Company Information

Directors

Mr B Byrne

Mr G D Lloyd

Registered office

1st Floor
Agriculture House
Winch Lane
Haverfordwest
Pembrokeshire
SA61 1RW

Accountants

LHP Haverfordwest
Chartered Certified Accountants
1st Floor
Agriculture House
Winch Lane
Haverfordwest
Pembrokeshire
SA61 1RW

 

B & L Lettings Ltd

(Registration number: 12180687)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

99,044

99,454

Current assets

 

Cash at bank and in hand

 

1,667

6,065

Creditors: Amounts falling due within one year

5

(46,195)

(46,021)

Net current liabilities

 

(44,528)

(39,956)

Total assets less current liabilities

 

54,516

59,498

Creditors: Amounts falling due after more than one year

5

(54,623)

(61,878)

Net liabilities

 

(107)

(2,380)

Capital and reserves

 

Called up share capital

6

200

200

Retained earnings

(307)

(2,580)

Shareholders' deficit

 

(107)

(2,380)

For the financial 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.

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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 19 October 2023 and signed on its behalf by:
 

.........................................
Mr B Byrne
Director

.........................................
Mr G D Lloyd
Director

 
     
 

B & L Lettings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

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

The address of its registered office is:
1st Floor
Agriculture House
Winch Lane
Haverfordwest
Pembrokeshire
SA61 1RW

These financial statements were authorised for issue by the Board on 19 October 2023.

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.

Going concern

These financial statements show a net deficit on net assets. The Company is therefore dependent upon the continued support of the directors. These financial statements are prepared on a going concern basis, which assumes the directors will continue to provide support.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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.

 

B & L Lettings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

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

Fixtures and fittings

10% reducing balance

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 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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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 2 (2022 - 2).

 

B & L Lettings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

4

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 April 2022

95,345

4,884

100,229

At 31 March 2023

95,345

4,884

100,229

Depreciation

At 1 April 2022

-

775

775

Charge for the year

-

410

410

At 31 March 2023

-

1,185

1,185

Carrying amount

At 31 March 2023

95,345

3,699

99,044

At 31 March 2022

95,345

4,109

99,454

Included within the net book value of land and buildings above is £95,345 (2022 - £95,345) in respect of freehold land and buildings.
 

 

B & L Lettings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

5

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Other related parties

 

44,791

44,744

Other creditors

 

1,404

1,277

 

46,195

46,021

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7

54,623

61,878

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary Shares of £1 each

200

200

200

200

         

7

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Other borrowings

54,623

61,878

 

B & L Lettings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

8

Related party transactions

Transactions with directors

2023

At 1 April 2022
£

Other payments made to company by director
£

At 31 March 2023
£

Mr G D Lloyd

Interest free loan with no fixed repayments term

(22,372)

(24)

(22,396)

       
     

Mr B Byrne

Interest free loan with no fixed repayment term

(22,372)

(24)

(22,396)

       
     

 

2022

At 1 April 2021
£

Other payments made to company by director
£

At 31 March 2022
£

Mr G D Lloyd

Interest free loan with no fixed repayments term

(20,021)

(2,351)

(22,372)

       
     

Mr B Byrne

Interest free loan with no fixed repayment term

(20,021)

(2,351)

(22,372)