The Bognor Pier Company Limited - Limited company accounts 23.2

REGISTERED NUMBER: 00097547 (England and Wales)

Report of the Director and

Unaudited Financial Statements for the Year Ended 31 December 2023

for

The Bognor Pier Company Limited

Page

Company Information

1

Report of the Director

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTOR:

Mrs G Frost

SECRETARY:

Mrs M Beevers

REGISTERED OFFICE:

Bognor Regis Town Council

Town Hall

Clarence Road

Bognor Regis

West Sussex

PO21 1LD

REGISTERED NUMBER:

00097547 (England and Wales)

ACCOUNTANTS:

DCK Accounting Solutions Ltd

Unit 1

Uffcott Farm

Wroughton

Wiltshire

SN4 9NB

The director presents her report with the financial statements of the company for the year ended 31 December 2023.

DIRECTOR

Mrs G Frost held office during the whole of the period from 1 January 2023 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

Mrs G Frost - Director

21 February 2024

TURNOVER

65,100

63,339

Administrative expenses

75,380

72,042

(10,280

)

(8,703

)

Other operating income

11,144

10,655

OPERATING PROFIT

864

1,952

Interest receivable and similar income

25

5

PROFIT BEFORE TAXATION

889

1,957

Tax on profit

-

PROFIT FOR THE FINANCIAL YEAR

889

1,957

FIXED ASSETS

Investment property

4

430,000

CURRENT ASSETS

Prepayments and accrued income

4,401

Cash at bank

33,607

43,015

38,008

47,416

CREDITORS

Amounts falling due within one year

5

35,401

45,698

NET CURRENT ASSETS

2,607

1,718

TOTAL ASSETS LESS CURRENT
LIABILITIES

432,607

431,718

CAPITAL AND RESERVES

Called up share capital

9,097

Revaluation reserve

6

411,689

Retained earnings

11,821

10,932

SHAREHOLDERS' FUNDS

432,607

431,718

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director and authorised for issue on 21 February 2024 and were signed by:

Mrs G Frost - Director

1.	STATUTORY INFORMATION

The Bognor Pier Company 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.

Turnover

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

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.

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).

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2023

and 31 December 2023

430,000

NET BOOK VALUE

At 31 December 2023

430,000

At 31 December 2022

430,000

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.23

31.12.22

£

Trade creditors

1

-

Taxation and social security

7,738

5,445

Other creditors

27,662

40,253

35,401

45,698

6.

RESERVES

Revaluation

reserve

£

At 1 January 2023

and 31 December 2023

411,689