BAM Apartments Limited 11639641 false 2022-05-01 2023-04-30 2023-04-30 The principal activity of the company is that of letting and operating of own or leased real estate Digita Accounts Production Advanced 6.30.9574.0 true 11639641 2022-05-01 2023-04-30 11639641 2023-04-30 11639641 bus:OrdinaryShareClass1 2023-04-30 11639641 core:RetainedEarningsAccumulatedLosses 2023-04-30 11639641 core:ShareCapital 2023-04-30 11639641 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 11639641 core:Non-currentFinancialInstruments core:AfterOneYear 2023-04-30 11639641 core:LandBuildings core:LongLeaseholdAssets 2023-04-30 11639641 bus:SmallEntities 2022-05-01 2023-04-30 11639641 bus:AuditExemptWithAccountantsReport 2022-05-01 2023-04-30 11639641 bus:AbridgedAccounts 2022-05-01 2023-04-30 11639641 bus:SmallCompaniesRegimeForAccounts 2022-05-01 2023-04-30 11639641 bus:RegisteredOffice 2022-05-01 2023-04-30 11639641 bus:CompanySecretaryDirector2 2022-05-01 2023-04-30 11639641 bus:Director1 2022-05-01 2023-04-30 11639641 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 11639641 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 11639641 core:LandBuildings 2022-05-01 2023-04-30 11639641 core:LandBuildings core:LongLeaseholdAssets 2022-05-01 2023-04-30 11639641 core:LeaseholdImprovements 2022-05-01 2023-04-30 11639641 countries:EnglandWales 2022-05-01 2023-04-30 11639641 2022-04-30 11639641 core:LandBuildings core:LongLeaseholdAssets 2022-04-30 11639641 2021-05-01 2022-04-30 11639641 2022-04-30 11639641 bus:OrdinaryShareClass1 2022-04-30 11639641 core:RetainedEarningsAccumulatedLosses 2022-04-30 11639641 core:ShareCapital 2022-04-30 11639641 core:CurrentFinancialInstruments core:WithinOneYear 2022-04-30 11639641 core:Non-currentFinancialInstruments core:AfterOneYear 2022-04-30 11639641 core:LandBuildings core:LongLeaseholdAssets 2022-04-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 11639641

BAM Apartments Limited

Filleted Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 30 April 2023

 

BAM Apartments Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 7

 

BAM Apartments Limited

Company Information

Directors

Mr SM Baston

Mr ASW Baston

Company secretary

Mr ASW Baston

Registered office

Office 4
Workspace Penarth
Albert Road
Penarth
CF64 1FD

Accountants

HSJ Accountants Ltd
Severn House
Hazell Drive
Newport
South Wales
NP10 8FY

 

BAM Apartments Limited

(Registration number: 11639641)
Abridged Balance Sheet as at 30 April 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

-

150,000

Investment property

4

3,645,410

3,627,691

 

3,645,410

3,777,691

Current assets

 

Debtors

-

6,374

Cash at bank and in hand

 

4,143

6,626

 

4,143

13,000

Prepayments and accrued income

 

15,613

5,051

Creditors: Amounts falling due within one year

(28,789)

(20,095)

Net current liabilities

 

(9,033)

(2,044)

Total assets less current liabilities

 

3,636,377

3,775,647

Creditors: Amounts falling due after more than one year

5

(3,631,351)

(3,769,355)

Accruals and deferred income

 

(3,411)

(2,985)

Net assets

 

1,615

3,307

Capital and reserves

 

Called up share capital

6

4

4

Profit and loss account

1,611

3,303

Total equity

 

1,615

3,307

 

BAM Apartments Limited

(Registration number: 11639641)
Abridged Balance Sheet as at 30 April 2023

For the financial year ending 30 April 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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 26 October 2023 and signed on its behalf by:
 

.........................................

Mr SM Baston
Director

 

BAM Apartments Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Office 4
Workspace Penarth
Albert Road
Penarth
CF64 1FD

These financial statements were authorised for issue by the Board on 26 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 abridged 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 abridged 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.

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 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.

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:

 

BAM Apartments Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2023

Asset class

Depreciation method and rate

Land and buildings

Not depreciated

Leaseholds

Not depreciated

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors. The directors use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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 debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

 

BAM Apartments Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2023

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Tangible assets

Long leasehold land and buildings
£

Total
£

Cost or valuation

At 1 May 2022

150,000

150,000

Disposals

(150,000)

(150,000)

At 30 April 2023

-

-

Depreciation

Carrying amount

At 30 April 2023

-

-

At 30 April 2022

150,000

150,000

Included within the net book value of land and buildings above is £Nil (2022 - £150,000) in respect of long leasehold land and buildings.
 

Investment properties

2023
£

At 1 May

3,627,691

Additions

17,719

At 30 April

3,645,410

The directors have assessed fair value of the investment properties.

5

Creditors: amounts falling due after more than one year

Creditors include bank loans and overdrafts which are secured of £2,383,250 (2022 - £2,383,250). This amount is due after more than five years.

 

BAM Apartments Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2023

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

4

4

4

4

         

7

Related party transactions

During the year the company made interest free, unsecured, payable on demand loans with related parties. At the balance sheet date the amount due from the company was £1,248,101 (2022 - £1,386,105).