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REGISTERED NUMBER: 09447942 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023

FOR

B3 PROPERTY INVESTMENTS LIMITED

B3 PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 09447942)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023










Page

Statement of Financial Position 1 to 2

Notes to the Financial Statements 3 to 6


B3 PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 09447942)

STATEMENT OF FINANCIAL POSITION
31 MAY 2023

31.5.23 31.5.22
Notes £    £   
FIXED ASSETS
Investment property 4 4,209,863 5,893,303

CURRENT ASSETS
Debtors 5 149,666 9,478
Cash at bank 51,906 103,817
201,572 113,295
CREDITORS
Amounts falling due within one year 6 (1,110,332 ) (1,328,512 )
NET CURRENT LIABILITIES (908,760 ) (1,215,217 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,301,103

4,678,086

CREDITORS
Amounts falling due after more than one
year

7

(100,000

)

(1,322,514

)

PROVISIONS FOR LIABILITIES (94,632 ) (157,858 )
NET ASSETS 3,106,471 3,197,714

CAPITAL AND RESERVES
Called up share capital 971,916 971,916
Undistributable reserve 547,259 939,175
Retained earnings 1,587,296 1,286,623
3,106,471 3,197,714

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

B3 PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 09447942)

STATEMENT OF FINANCIAL POSITION - continued
31 MAY 2023


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 30 November 2023 and were signed on its behalf by:





M S Blackburn - Director


B3 PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 09447942)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023


1. STATUTORY INFORMATION

B3 PROPERTY INVESTMENTS LIMITED is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 09447942

Registered office: c/o DPC Accountants
Stone House
Stone Road Business Park
Stoke-On-Trent
Staffordshire
ST4 6SR

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.

The financial statements are prepared in sterling, which is the functional currency of the entity.

SIGNIFICANT JUDGEMENTS AND ESTIMATES
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Key sources of estimation uncertainty

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows:

Estimated useful lives and residual values of fixed assets

As described in the accounting policies of the financial statements, depreciation of tangible fixed assets has been based on estimated useful lives and residual values deemed appropriate by the directors. Estimated useful lives and residual values are reviewed annually and revised as appropriate. Revisions take in to account actual asset lives and residual values as evidenced by disposals during current and prior accounting periods.

Valuation of investment property
As described in the notes to the financial statements, the investment property is stated in the balance sheet at cost, which is deemed the fair value at 31st May 2023. The directors are of the opinion that this valuation is not materially different to current market prices observed.

REVENUE RECOGNITION
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

B3 PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 09447942)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


2. ACCOUNTING POLICIES - continued

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.

Investment properly is initially recorded at cost, which includes purchase price and any directly attributable expenditure.

Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis.

FINANCIAL INSTRUMENTS
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

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 statement of financial position date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

B3 PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 09447942)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2022 5,893,303
Disposals (1,683,440 )
At 31 May 2023 4,209,863
NET BOOK VALUE
At 31 May 2023 4,209,863
At 31 May 2022 5,893,303

Investment properties are stated at cost which the directors consider to be the fair value at 31st May 2023.

In respect of tangible assets held at valuation, the aggregate cost, depreciation and carrying amount that would have been recognised if the assets had been carried under the historical cost model are: Aggregate cost £3,123,883 (2022: £4,796,270), Aggregate depreciation £nil (2022: £nil) and carrying value £3,123,883 (2022: £4,796,270).

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors (10,835 ) 5,443
Other debtors 160,501 4,035
149,666 9,478

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans and overdrafts 728,645 770,218
Trade creditors 415 3,823
Amounts owed to group undertakings 201,949 338,371
Taxation and social security 60,927 93,672
Other creditors 118,396 122,428
1,110,332 1,328,512

The total amount of creditors falling due within one year for which security has been given amounted to £728,645 (2022: £770,218).

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.23 31.5.22
£    £   
Bank loans 100,000 1,322,514

B3 PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 09447942)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
31.5.23 31.5.22
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans payable more than
5 years by instalments - 524,195
- 524,195

Included within creditors: amounts falling due after more than one year is an amount of £nil (2022: £524,195) in respect of liabilities payable or repayable otherwise than by instalments which fall due for payment after more than five years from the reporting date.

The first loan amounted to £2,603,000 and was taken out on 17 April 2015. Repayments commenced on 16 November 2015 at a rate of £43,645 per quarter. The loan is repayable over a 15 year term and bears interest at LIBOR + 2.5%.

The second loan amounted to £700,000 and was taken out on 5 April 2018. Repayments commenced on 11 October 2018 at a rate of £11,667 per quarter. The loan is repayable over a 15 year term and bears interest at LIBOR + 2.95%.

The total amount of creditors falling due after one year for which security has been given amounted to £100,000 ( 2022: £1,322,514).

8. RELATED PARTY DISCLOSURES

Transactions with directors are under normal market conditions and/or not material.

During the year the company undertook transactions with related parties as follows:

1) B3 Shopfitting Limited, a connected company:

2023
£
Amounts owed to related party at 1 June 2022 338,371
Receipts from related party -381,922
Payments to related party 245,500

Amounts owed to related party at 31 May 2023 201,,949

9. POST BALANCE SHEET EVENTS

There were no material events up to the date of approval of the financial statements by the board.