Caseware UK (AP4) 2022.0.179 2022.0.179 2022-10-312022-10-312021-11-01falserental of property22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08096411 2021-11-01 2022-10-31 08096411 2020-05-01 2021-10-31 08096411 2022-10-31 08096411 2021-10-31 08096411 c:Director1 2021-11-01 2022-10-31 08096411 d:Buildings 2021-11-01 2022-10-31 08096411 d:Buildings 2022-10-31 08096411 d:Buildings 2021-10-31 08096411 d:LandBuildings 2022-10-31 08096411 d:LandBuildings 2021-10-31 08096411 d:LeaseholdInvestmentProperty 2021-11-01 2022-10-31 08096411 d:LeaseholdInvestmentProperty 2022-10-31 08096411 d:LeaseholdInvestmentProperty 2021-10-31 08096411 d:CurrentFinancialInstruments 2022-10-31 08096411 d:CurrentFinancialInstruments 2021-10-31 08096411 d:Non-currentFinancialInstruments 2022-10-31 08096411 d:Non-currentFinancialInstruments 2021-10-31 08096411 d:CurrentFinancialInstruments d:WithinOneYear 2022-10-31 08096411 d:CurrentFinancialInstruments d:WithinOneYear 2021-10-31 08096411 d:Non-currentFinancialInstruments d:AfterOneYear 2022-10-31 08096411 d:Non-currentFinancialInstruments d:AfterOneYear 2021-10-31 08096411 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-10-31 08096411 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2021-10-31 08096411 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-10-31 08096411 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2021-10-31 08096411 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-10-31 08096411 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2021-10-31 08096411 d:UKTax 2021-11-01 2022-10-31 08096411 d:UKTax 2020-05-01 2021-10-31 08096411 d:ShareCapital 2022-10-31 08096411 d:ShareCapital 2021-10-31 08096411 d:RetainedEarningsAccumulatedLosses 2022-10-31 08096411 d:RetainedEarningsAccumulatedLosses 2021-10-31 08096411 c:OrdinaryShareClass1 2021-11-01 2022-10-31 08096411 c:OrdinaryShareClass1 2022-10-31 08096411 c:OrdinaryShareClass1 2021-10-31 08096411 c:FRS102 2021-11-01 2022-10-31 08096411 c:AuditExempt-NoAccountantsReport 2021-11-01 2022-10-31 08096411 c:FullAccounts 2021-11-01 2022-10-31 08096411 c:PrivateLimitedCompanyLtd 2021-11-01 2022-10-31 08096411 2 2021-11-01 2022-10-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 08096411









BUXTON + MCNULTY PROPERTIES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 OCTOBER 2022

 
BUXTON + MCNULTY PROPERTIES LIMITED
REGISTERED NUMBER: 08096411

BALANCE SHEET
AS AT 31 OCTOBER 2022

2022
2021
Note
£
£

Fixed assets
  

Tangible assets
 5 
309,000
309,000

Investment property
 6 
-
1,979,292

  
309,000
2,288,292

Current assets
  

Debtors: amounts falling due after more than one year
 7 
449,003
-

Debtors: amounts falling due within one year
 7 
100
121

Cash at bank and in hand
 8 
19,639
10,985

  
468,742
11,106

Creditors: amounts falling due within one year
 9 
(39,109)
(69,291)

Net current assets/(liabilities)
  
 
 
429,633
 
 
(58,185)

Total assets less current liabilities
  
738,633
2,230,107

Creditors: amounts falling due after more than one year
 10 
(605,589)
(2,142,951)

  

Net assets
  
133,044
87,156


Capital and reserves
  

Called up share capital 
 12 
100
100

Profit and loss account
  
132,944
87,056

  
133,044
87,156


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the Period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
Page 1

 
BUXTON + MCNULTY PROPERTIES LIMITED
REGISTERED NUMBER: 08096411
    
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2022


The financial statements were approved and authorised for issue by the board and were signed on its behalf on 25 October 2023.




T D McNulty Esq
Director




















The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
BUXTON + MCNULTY PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2022

1.


General information

Buxton + McNulty Properties Limited is a private company limited by shares and incorporated in England and Wales. The address of the registered office is Horizons Business Park, Veridon Park, Unit 28 Alder Close, Erith, Kent, DA18 4AJ.
The principal activity of the company during the year was that of rental of property. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Page 3

 
BUXTON + MCNULTY PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2022

2.Accounting policies (continued)

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
Not depreciated

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.


3.


Employees

The average monthly number of employees, including directors, during the Period was 2 (2021 - 2).

Page 4

 
BUXTON + MCNULTY PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2022

4.


Taxation


2022
2021
£
£

Corporation tax


Current tax on profits for the year
11,154
10,860


Total current tax
11,154
10,860

Factors affecting tax charge for the period/period

There were no factors that affected the tax charge for the Period/period which has been calculated on the profits on ordinary activities before tax at the standard rate of corporation tax in the UK of  19% (2021 - 19%).



Factors that may affect future tax charges

There were no factors that may affect future tax charges.


5.


Tangible fixed assets





Freehold property

£



Cost or valuation


At 1 November 2021
309,000



At 31 October 2022

309,000






Net book value



At 31 October 2022
309,000



At 31 October 2021
309,000

Page 5

 
BUXTON + MCNULTY PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2022

           5.Tangible fixed assets (continued)




The net book value of land and buildings may be further analysed as follows:


2022
2021
£
£

Freehold
309,000
309,000

309,000
309,000



6.


Investment property


Long term leasehold investment property

£





At 1 November 2021
1,979,292


Disposals
(1,979,292)



At 31 October 2022
-

The 2022 valuations were made by Santander, on an open market value for existing use basis.



At 31 October 2022





7.


Debtors

2022
2021
£
£

Due after more than one year

Amounts owed by group undertakings
449,003
-

449,003
-


2022
2021
£
£

Due within one year

Other debtors
-
21

Called up share capital not paid
100
100
Page 6

 
BUXTON + MCNULTY PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2022

7.Debtors (continued)


100
121



8.


Cash and cash equivalents

2022
2021
£
£

Cash at bank and in hand
19,639
10,985

19,639
10,985



9.


Creditors: Amounts falling due within one year

2022
2021
£
£

Bank loans
-
38,431

Trade creditors
1,995
-

Corporation tax
15,014
10,860

Other creditors
20,000
20,000

Accruals and deferred income
2,100
-

39,109
69,291



10.


Creditors: Amounts falling due after more than one year

2022
2021
£
£

Bank loans
-
193,805

Amounts owed to group undertakings
605,589
1,949,146

605,589
2,142,951


Page 7

 
BUXTON + MCNULTY PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2022

11.


Loans


Analysis of the maturity of loans is given below:


2022
2021
£
£

Amounts falling due within one year

Bank loans
-
38,431

Amounts falling due 1-2 years

Bank loans
-
38,431

Amounts falling due 2-5 years

Bank loans
-
115,294

Amounts falling due after more than 5 years

Bank loans
-
40,080

-
40,080



12.


Share capital

2022
2021
£
£
Authorised, allotted, called up and fully paid



100 (2021 - 100) Ordinary shares of £1.00 each
100
100


 
Page 8