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REGISTERED NUMBER: 10723373 (England and Wales)












Unaudited Financial Statements

for the Year Ended 30 September 2023

for

Bospence Limited

Bospence Limited (Registered number: 10723373)






Contents of the Financial Statements
for the Year Ended 30 September 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Bospence Limited

Company Information
for the Year Ended 30 September 2023







DIRECTORS: Miss S Bohane
Mrs C A Spencer





REGISTERED OFFICE: 4 Wentworth Dene
Weybridge
Surrey
KT13 9AJ





REGISTERED NUMBER: 10723373 (England and Wales)





ACCOUNTANTS: Butler & Co Alresford Limited
Chartered Accountants
Bennett House
The Dean
Alresford
Hampshire
SO24 9BH

Bospence Limited (Registered number: 10723373)

Balance Sheet
30 September 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 57 115
Investment property 5 400,000 400,000
400,057 400,115

CURRENT ASSETS
Debtors 6 100 100
Cash at bank 18,055 42,786
18,155 42,886
CREDITORS
Amounts falling due within one year 7 11,680 11,729
NET CURRENT ASSETS 6,475 31,157
TOTAL ASSETS LESS CURRENT
LIABILITIES

406,532

431,272

CREDITORS
Amounts falling due after more than one
year

8

(370,000

)

(400,000

)

PROVISIONS FOR LIABILITIES 9 (1,844 ) (1,855 )
NET ASSETS 34,688 29,417

CAPITAL AND RESERVES
Called up share capital 10 100 100
Fair value reserve 7,816 7,816
Retained earnings 26,772 21,501
SHAREHOLDERS' FUNDS 34,688 29,417

Bospence Limited (Registered number: 10723373)

Balance Sheet - continued
30 September 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 October 2023 and were signed on its behalf by:




Miss S Bohane - Director



Mrs C A Spencer - Director


Bospence Limited (Registered number: 10723373)

Notes to the Financial Statements
for the Year Ended 30 September 2023

1. STATUTORY INFORMATION

Bospence Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents net invoiced rent receivable, including value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

Bospence Limited (Registered number: 10723373)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 October 2022
and 30 September 2023 6,748
DEPRECIATION
At 1 October 2022 6,633
Charge for year 58
At 30 September 2023 6,691
NET BOOK VALUE
At 30 September 2023 57
At 30 September 2022 115

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2022
and 30 September 2023 400,000
NET BOOK VALUE
At 30 September 2023 400,000
At 30 September 2022 400,000

Fair value at 30 September 2023 is represented by:
£   
Valuation in 2021 9,650
Cost 390,350
400,000

If investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 390,350 390,350

Investment property was valued on an open market basis on 30 September 2023 by the directors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 100 100

Bospence Limited (Registered number: 10723373)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Corporation tax 1,249 1,829
Other creditors 500 500
Directors' current accounts 9,000 8,500
Accrued expenses 931 900
11,680 11,729

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other loans 370,000 400,000

Included within other loans is a loan from a shareholder amounting to £370,000. There is no formal agreement, but there is an understanding that the loan will be fully repaid upon sale of the investment property.

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 10 21
Property revaluations 1,834 1,834
1,844 1,855

Deferred
tax
£   
Balance at 1 October 2022 1,855
Accelerated capital allowances (11 )
Balance at 30 September 2023 1,844

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

Bospence Limited (Registered number: 10723373)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

11. RELATED PARTY DISCLOSURES

S Bohane
Director

During the period under review S Bohane incurred expenses on behalf of the company amounting to £4,500 (2022 - £4,250).

C A Spencer
Director

During the period under review C A Spencer incurred expenses on behalf of the company amounting to £4,500 (2022 - £4,250).

Balance due to the related party at the balance sheet date:- 2023 2022
£ £
S Bohane 4,500 4,250
C A Spencer 4,500 4,250
9,000 8,500

12. ULTIMATE CONTROLLING PARTY

During the period under review the company is under the control of the board of directors.