Bradgate Time-Share Limited 01641871 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is Property Rental Digita Accounts Production Advanced 6.30.9574.0 true true true 01641871 2022-04-01 2023-03-31 01641871 2023-03-31 01641871 bus:OrdinaryShareClass1 2023-03-31 01641871 core:CurrentFinancialInstruments 2023-03-31 01641871 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 01641871 core:Non-currentFinancialInstruments 2023-03-31 01641871 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 01641871 core:ParentEntities 2023-03-31 01641871 bus:SmallEntities 2022-04-01 2023-03-31 01641871 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 01641871 bus:FullAccounts 2022-04-01 2023-03-31 01641871 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 01641871 bus:RegisteredOffice 2022-04-01 2023-03-31 01641871 bus:Director1 2022-04-01 2023-03-31 01641871 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 01641871 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 01641871 core:ParentEntities 2022-04-01 2023-03-31 01641871 1 2022-04-01 2023-03-31 01641871 countries:England 2022-04-01 2023-03-31 01641871 2022-03-31 01641871 core:ParentEntities 2022-03-31 01641871 2021-04-01 2022-03-31 01641871 2022-03-31 01641871 bus:OrdinaryShareClass1 2022-03-31 01641871 core:CurrentFinancialInstruments 2022-03-31 01641871 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 01641871 core:Non-currentFinancialInstruments 2022-03-31 01641871 core:Non-currentFinancialInstruments core:AfterOneYear 2022-03-31 01641871 core:ParentEntities 2022-03-31 01641871 core:ParentEntities 2021-04-01 2022-03-31 01641871 2021-03-31 01641871 core:ParentEntities 2021-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 01641871

Bradgate Time-Share Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2023

 

Bradgate Time-Share Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

Bradgate Time-Share Limited

(Registration number: 01641871)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fiixed assets

 

Investment property

4

150,000

150,000

Current assets

 

Debtors

5

92,400

92,400

Cash at bank and in hand

 

384

1,468

 

92,784

93,868

Creditors: Amounts falling due within one year

6

(44,060)

(36,108)

Net current assets

 

48,724

57,760

Total assets less current liabilities

 

198,724

207,760

Creditors: Amounts falling due after more than one year

6

(45,287)

(53,126)

Net assets

 

153,437

154,634

Non-distributable reserve

 

Called up share capital

7

100

100

Non-distributable reserve

150,000

150,000

Retained earnings

3,337

4,534

Shareholders' funds

 

153,437

154,634

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 22 December 2023
 

.........................................
Mr Andrew Crook
Director

 

Bradgate Time-Share Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

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

The address of its registered office is:
Church House
Cocknage Road
Rough Close
Stoke-on-Trent
Staffordshire
ST3 7NN

These financial statements were authorised for issue by the director on 22 December 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 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 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.

Going concern

The financial statements have been prepared on a going concern basis.

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 sales/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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Bradgate Time-Share Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers 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. The share capital shown on the balance sheet is allotted , called up , and fully paid

 

Bradgate Time-Share Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Investment properties

2023
£

At 1 April

150,000

At 31 March

150,000

There has been no valuation of investment property by an independent valuer.

5

Debtors

Current

Note

2023
£

2022
£

Amounts owed by related parties

9

92,400

92,400

 

Bradgate Time-Share Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

5,151

5,151

Amounts owed to group undertakings and undertakings in which the company has a participating interest

9

20,480

11,952

Taxation and social security

 

332

332

Accruals and deferred income

 

1,080

1,080

Other creditors

 

17,017

17,593

 

44,060

36,108

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

45,287

53,126

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

         

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

45,287

53,126

2023
£

2022
£

Current loans and borrowings

Bank borrowings

5,151

5,151

 

Bradgate Time-Share Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

9

Related party transactions

Loans from related parties

2023

Parent
£

Total
£

At start of period

11,952

11,952

Advanced

8,528

8,528

At end of period

20,480

20,480

2022

Parent
£

Total
£

At start of period

10,872

10,872

Advanced

1,080

1,080

At end of period

11,952

11,952

10

Parent and ultimate parent undertaking

This company is a 100% subsidiary of the parent company.

 The company's immediate parent is Main Event (Staffordshire) Limited, incorporated in United Kingdom.