Company Registration No. 04751933 (England and Wales)
BCLA LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023
ACCOUNTS FOR FILING WITH REGISTRAR
BCLA LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
BCLA LIMITED
BALANCE SHEET
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
286,919
298,426
Current assets
Debtors
4
5,222
5,311
Cash at bank and in hand
628,738
633,898
633,960
639,209
Creditors: amounts falling due within one year
5
(6,501)
(23,613)
Net current assets
627,459
615,596
Total assets less current liabilities
914,378
914,022
Provisions for liabilities
(24,671)
(18,750)
Net assets
889,707
895,272
Capital and reserves
Called up share capital
6
11,256
11,256
Share premium account
560,000
560,000
Revaluation reserve
7
65,961
71,882
Profit and loss reserves
252,490
252,134
Total equity
889,707
895,272
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 27 October 2023
A Hunt
Director
Company registration number 04751933 (England and Wales)
BCLA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023
- 2 -
1
Accounting policies
Company information
BCLA Limited is a private company limited by shares incorporated in England and Wales. The registered office is 27 Station Road, New Barnet, Hertfordshire, EN5 1PW.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents ground rent and communication income receivable during the year recognised based on the period of account the income relates to.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Land and buildings Freehold
Freehold interest is not depreciated
Plant and machinery
The cost of aerial contracts are depreciated over the length of the contracts with the communication companies.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Cash at bank and in hand
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.
BCLA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
1
Accounting policies
(Continued)
- 3 -
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, other loans and preference shares that are classified as debt, are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
BCLA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
- 4 -
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost or valuation
At 1 June 2022 and 31 May 2023
285,000
184,113
469,113
Depreciation and impairment
At 1 June 2022
170,687
170,687
Depreciation charged in the year
11,507
11,507
At 31 May 2023
182,194
182,194
Carrying amount
At 31 May 2023
285,000
1,919
286,919
At 31 May 2022
285,000
13,426
298,426
Land and buildings with a carrying amount of £285,000 were revalued at 22 July 2022 by Maunder Taylor, independent valuers not connected with the company on the basis of market value.
If revalued assets were stated on a historical cost basis rather than a fair value basis, the total amounts included would have been as follows:
2023
£
Cost
194,368
Accumulated depreciation
-
Carrying value
194,368
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
3,446
4,508
Other debtors
1,776
803
5,222
5,311
5
Creditors: amounts falling due within one year
2023
2022
£
£
Taxation and social security
2,782
11,824
Other creditors
3,719
11,789
6,501
23,613
BCLA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
- 5 -
6
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
56 Ordinary shares of £1 each
56
56
Preference share capital
Issued and fully paid
56 Preference shares of £200 each
11,200
11,200
Preference shares classified as equity
11,200
11,200
Total equity share capital
11,256
11,256
7
Revaluation reserve
2023
2022
£
£
At the beginning of the year
71,882
47,334
Revaluation surplus arising in the year
43,298
Deferred tax on revaluation of tangible assets
(5,921)
(18,750)
At the end of the year
65,961
71,882