Budge Investments Ltd Filleted Accounts Cover
Budge Investments Ltd
Company No. 10525736
Information for Filing with The Registrar
31 October 2022
Budge Investments Ltd Balance Sheet Registrar
at
31 October 2022
Company No.
10525736
Notes
2022
2021
£
£
Fixed assets
Investment property
4
1,078,0001,070,000
1,078,0001,070,000
Current assets
Cash at bank and in hand
7,5763,879
7,5763,879
Creditors: Amount falling due within one year
5
(237,583)
(222,280)
Net current liabilities
(230,007)
(218,401)
Total assets less current liabilities
847,993851,599
Creditors: Amounts falling due after more than one year
6
(791,926)
(794,366)
Provisions for liabilities
Deferred taxation
7
(14,526)
(14,526)
Net assets
41,54142,707
Capital and reserves
Called up share capital
100100
Revaluation reserve
8
61,92361,923
Profit and loss account
8
(20,482)
(19,316)
Total equity
41,54142,707
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the period ended 31 October 2022 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 directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by section 444 (5A) of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the board on 31 October 2022
And signed on its behalf by:
S.J. Budge
Director
31 October 2022
Budge Investments Ltd Notes to the Accounts Registrar
for the period ended 31 October 2022
1
General information
Its registered number is: 10525736
Its registered office is:
Suite 2 Regency House
Station Road
Romford
RM3 0BP
The functional and presentational currency of the company is Sterling . The monetary amounts in the accounts are rounded to the nearest pound.
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland (March 2018) and the Companies Act 2006.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets and in accordance with the accounting policies set out below.
2
Accounting policies
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Freehold investment property
Investment properties are revalued annually and any surplus or deficit is dealt with through the profit and loss account.

No depreciation is provided in respect of investment properties.
Financial instruments
The company only has basic financial instruments measured at amortised cost, with no financial instruments classified as other or basic financial instruments measured at fair value.
3
Employees
2022
2021
Number
Number
The average monthly number of employees (including directors) during the period:
22
4
Investment property
Freehold Investment Property
£
Valuation
At 1 December 2021
1,070,000
Additions
8,000
At 31 October 2022
1,078,000
5
Creditors amounts falling due within one year:
2022
2021
£
£
Bank loans and overdrafts
1,1811,181
Trade creditors
-1,819
Amounts owed to group undertakings
176,395169,857
Loans from directors
8,124-
Accruals and deferred income
51,88349,423
237,583222,280
6
Creditors amounts falling due after more than one year:
2022
2021
£
£
Bank loans and overdrafts
791,926794,366
791,926794,366
7
Provisions for liabilities
Deferred taxation
Accelerated Capital Allowances, Losses and Other Timing Differences
Total
£
£
At 1 December 2021
14,526
14,526
At 31 October 2022
14,526
14,526
2022
2021
£
£
Revaluation of land and buildings
14,52614,526
14,52614,526
8
Reserves
Revaluation Reserve
Total other reserves
£
£
At 1 December 2020
61,923
61,923
At 30 November 2021 and 1 December 2021
61,923
61,923
At 31 October 2022
61,92361,923
Revaluation reserve - reflects the revaluation of property other than investment properties.
Profit and loss account - includes all current and prior period retained profits and losses.
9
Related party disclosures
At the balance sheet date £8,124 was owed to the director by the company.
Controlling party
Immediate controlling party
No single party controls the company
2022
2021
Transactions with related parties
£
£
Name of related party
Budge Homes Limited
Amount due from/(to) the related party
(176,395)
(169,857)
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