REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 MAY 2022 TO 31 MARCH 2023 |
FOR |
BLAKENEY ESTATES LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 MAY 2022 TO 31 MARCH 2023 |
FOR |
BLAKENEY ESTATES LIMITED |
BLAKENEY ESTATES LIMITED (REGISTERED NUMBER: 03906454) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Period 1 MAY 2022 TO 31 MARCH 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
BLAKENEY ESTATES LIMITED |
COMPANY INFORMATION |
for the Period 1 MAY 2022 TO 31 MARCH 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
260 - 270 Butterfield |
Great Marlings |
Luton |
Bedfordshire |
LU2 8DL |
BLAKENEY ESTATES LIMITED (REGISTERED NUMBER: 03906454) |
BALANCE SHEET |
31 MARCH 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Stocks | 6 |
Debtors | 7 |
Prepayments and accrued income |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 12 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges his 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. |
BLAKENEY ESTATES LIMITED (REGISTERED NUMBER: 03906454) |
BALANCE SHEET - continued |
31 MARCH 2023 |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
BLAKENEY ESTATES LIMITED (REGISTERED NUMBER: 03906454) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Period 1 MAY 2022 TO 31 MARCH 2023 |
1. | STATUTORY INFORMATION |
Blakeney Estates Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover in the profit and loss represents the net invoiced amount, excluding value added tax. |
Tangible fixed assets |
Plant and machinery | - |
Motor vehicles | - |
Computer equipment | - |
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended by management. |
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. |
Stocks |
Work in progress is valued at the lower of cost and net realisable value. |
Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
BLAKENEY ESTATES LIMITED (REGISTERED NUMBER: 03906454) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Period 1 MAY 2022 TO 31 MARCH 2023 |
2. | ACCOUNTING POLICIES - continued |
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 period 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. |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | TANGIBLE FIXED ASSETS |
Plant and | Motor | Computer |
machinery | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 May 2022 |
and 31 March 2023 |
DEPRECIATION |
At 1 May 2022 |
Charge for period |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 30 April 2022 |
BLAKENEY ESTATES LIMITED (REGISTERED NUMBER: 03906454) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Period 1 MAY 2022 TO 31 MARCH 2023 |
4. | TANGIBLE FIXED ASSETS - continued |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Plant and |
machinery |
£ |
COST |
At 1 May 2022 |
Transfer to ownership | (50,567 | ) |
At 31 March 2023 |
DEPRECIATION |
At 1 May 2022 |
Charge for period |
Transfer to ownership | (29,234 | ) |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 30 April 2022 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 May 2022 |
Additions |
Disposals | ( |
) |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 30 April 2022 |
6. | STOCKS |
2023 | 2022 |
£ | £ |
Work-in-progress |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Other debtors |
VAT |
Prepayments |
BLAKENEY ESTATES LIMITED (REGISTERED NUMBER: 03906454) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Period 1 MAY 2022 TO 31 MARCH 2023 |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts (see note 10) |
Trade creditors |
Tax |
Social security and other taxes |
VAT | 1,945 | - |
Other creditors |
Director's loan account | 614,155 | 435,571 |
Accrued expenses |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans - 1-2 years |
Bank loans - 2-5 years |
Hire purchase contracts (see note 10) |
10. | LEASING AGREEMENTS |
Minimum lease payments fall due as follows: |
Hire purchase contracts |
2023 | 2022 |
£ | £ |
Net obligations repayable: |
Within one year |
Between one and five years |
Non-cancellable operating | leases |
2023 | 2022 |
£ | £ |
Within one year |
Between one and five years |
BLAKENEY ESTATES LIMITED (REGISTERED NUMBER: 03906454) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Period 1 MAY 2022 TO 31 MARCH 2023 |
11. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Bank loans |
Hire purchase contracts | 5,596 | 21,219 |
The bank loans were secured by way of fixed and floating charges over the sites that were held in work in progress by the company. |
The hire purchase contracts are secured against the assets to which they relate. |
12. | PROVISIONS FOR LIABILITIES |
2023 | 2022 |
£ | £ |
Deferred tax | 12,857 | 13,028 |
Deferred |
tax |
£ |
Balance at 1 May 2022 |
Provided during period | ( |
) |
Balance at 31 March 2023 |