Silverfin false 31/05/2023 01/06/2022 31/05/2023 Mr M J Grimoldby 08/05/2019 09 February 2024 The principal activity of the company is that of property rental. 11984019 2023-05-31 11984019 bus:Director1 2023-05-31 11984019 2022-05-31 11984019 core:CurrentFinancialInstruments 2023-05-31 11984019 core:CurrentFinancialInstruments 2022-05-31 11984019 core:ShareCapital 2023-05-31 11984019 core:ShareCapital 2022-05-31 11984019 core:RetainedEarningsAccumulatedLosses 2023-05-31 11984019 core:RetainedEarningsAccumulatedLosses 2022-05-31 11984019 bus:OrdinaryShareClass1 2023-05-31 11984019 2022-06-01 2023-05-31 11984019 bus:FullAccounts 2022-06-01 2023-05-31 11984019 bus:SmallEntities 2022-06-01 2023-05-31 11984019 bus:AuditExemptWithAccountantsReport 2022-06-01 2023-05-31 11984019 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 11984019 bus:Director1 2022-06-01 2023-05-31 11984019 2021-06-01 2022-05-31 11984019 bus:OrdinaryShareClass1 2022-06-01 2023-05-31 11984019 bus:OrdinaryShareClass1 2021-06-01 2022-05-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 11984019 (England and Wales)

BRISTOL AND EXETER PROPERTIES LIMITED

Unaudited Financial Statements
For the financial year ended 31 May 2023
Pages for filing with the registrar

BRISTOL AND EXETER PROPERTIES LIMITED

Unaudited Financial Statements

For the financial year ended 31 May 2023

Contents

BRISTOL AND EXETER PROPERTIES LIMITED

COMPANY INFORMATION

For the financial year ended 31 May 2023
BRISTOL AND EXETER PROPERTIES LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 May 2023
DIRECTOR Mr M J Grimoldby
REGISTERED OFFICE Down House Pyleigh
Lydeard St Lawrence
Taunton
TA4 3RA
United Kingdom
COMPANY NUMBER 11984019 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Blackbrook Gate 1
Blackbrook Business Park
Taunton
Somerset TA1 2PX
BRISTOL AND EXETER PROPERTIES LIMITED

BALANCE SHEET

As at 31 May 2023
BRISTOL AND EXETER PROPERTIES LIMITED

BALANCE SHEET (continued)

As at 31 May 2023
Note 2023 2022
£ £
Fixed assets
Investment property 3 402,500 402,500
402,500 402,500
Current assets
Cash at bank and in hand 180,686 153,915
180,686 153,915
Creditors: amounts falling due within one year 4 ( 526,891) ( 521,880)
Net current liabilities (346,205) (367,965)
Total assets less current liabilities 56,295 34,535
Net assets 56,295 34,535
Capital and reserves
Called-up share capital 5 100 100
Profit and loss account 56,195 34,435
Total shareholders' funds 56,295 34,535

For the financial year ending 31 May 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 financial statements of Bristol and Exeter Properties Limited (registered number: 11984019) were approved and authorised for issue by the Director on 09 February 2024. They were signed on its behalf by:

Mr M J Grimoldby
Director
BRISTOL AND EXETER PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2023
BRISTOL AND EXETER PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Bristol and Exeter Properties Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Down House Pyleigh, Lydeard St Lawrence, Taunton, TA4 3RA, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the rental of property under the company's management in the ordinary course of the company’s activities net of value added tax.

The company recognises revenue when the amount of revenue can be reliably measured and it is probable that future economic benefits will flow to the entity.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Properties are held at fair value at the date of valuation less subsequent depreciation and impairment.

Revaluation gains and losses are recognised in other comprehensive income and accumulated in equity, except to the extent that a gain reverses a previously recognised loss, or a loss exceeds the accumulated gains in equity.

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.

No depreciation is provided in respect of investment properties. This treatment as regards the company's investment properties may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, these properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Investment property

Investment property
£
Valuation
As at 01 June 2022 402,500
As at 31 May 2023 402,500

At the balance sheet date, the director has determined there to be no material changes in valuation of the investment property at the balance sheet date. The director estimates the total value of the properties as at 31 May 2023 as £402,500.

4. Creditors: amounts falling due within one year

2023 2022
£ £
Amounts owed to director 513,176 508,050
Accruals and deferred income 6,105 5,984
Taxation and social security 7,610 7,846
526,891 521,880

5. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100