BITTERNE INVESTMENTS LIMITED

Company Registration Number:
00585372 (England and Wales)

Unaudited abridged accounts for the year ended 30 June 2023

Period of accounts

Start date: 01 July 2022

End date: 30 June 2023

BITTERNE INVESTMENTS LIMITED

Contents of the Financial Statements

for the Period Ended 30 June 2023

Balance sheet
Notes

BITTERNE INVESTMENTS LIMITED

Balance sheet

As at 30 June 2023


Notes

2023

2022


£

£
Fixed assets
Tangible assets: 3 116 154
Investments: 4 4,950,000 4,937,000
Total fixed assets: 4,950,116 4,937,154
Current assets
Debtors: 5 20,624 11,941
Cash at bank and in hand: 452,718 279,338
Total current assets: 473,342 291,279
Creditors: amounts falling due within one year: 6 (198,951) (190,287)
Net current assets (liabilities): 274,391 100,992
Total assets less current liabilities: 5,224,507 5,038,146
Provision for liabilities: (565,000) (531,000)
Total net assets (liabilities): 4,659,507 4,507,146
Capital and reserves
Called up share capital: 1,500 1,500
Profit and loss account: 4,658,007 4,505,646
Shareholders funds: 4,659,507 4,507,146

The notes form part of these financial statements

BITTERNE INVESTMENTS LIMITED

Balance sheet statements

For the year ending 30 June 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 27 March 2024
and signed on behalf of the board by:

Name: Mr J Bray
Status: Director

The notes form part of these financial statements

BITTERNE INVESTMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover comprises the fair value of rents and service charges received and receivable from the letting of property.

Tangible fixed assets and depreciation policy

Depreciation is provided to write of the cost of each asset over its estimated useful life as follows:Plant and machinery - 25% per annum on the reducing balance basis.

Valuation and information policy

Investment properties are stated in the balance sheet at their fair value, and the aggregate surplus net of any deficits arising from the revaluation is recognised through the income statement. No depreciation is provided in respect of these properties. This policy is not strictly in accordance with the Companies Act 2006, which requires all tangible fixed assets to be depreciated. The directors have departed from the requirements of the Act in order for the accounts to give a true and fair view. It is not practical to quantify the amount of depreciation which would otherwise have been provided.

Other accounting policies

Deferred tax.Deferred tax is provided on timing differences, including those arising from the revaluation of investment properties, that have originated but not reversed at the balance sheet date.

BITTERNE INVESTMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

2. Employees

2023 2022
Average number of employees during the period 2 2

BITTERNE INVESTMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

3. Tangible Assets

Total
Cost £
At 01 July 2022 829
At 30 June 2023 829
Depreciation
At 01 July 2022 675
Charge for year 38
At 30 June 2023 713
Net book value
At 30 June 2023 116
At 30 June 2022 154

BITTERNE INVESTMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

4. Fixed investments

Fair value at 1 July 2022 £4,937,000Disposals £147,000Revaluation surplus for the year £160,000Fair value at 30 June 2023 £4,950,000The cost of the investment properties had they not been revalued is at 30 June 2023 £1,692,841, and at 30 June 2022 £1,696,294.

BITTERNE INVESTMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

5. Debtors

Debtors at 30 June 2023 comprise trade debtors £5,283 and other debtors £15,341. Debtors at 30 June 2022 comprise trade debtors £9,418 and other debtors £2,523.

BITTERNE INVESTMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

6. Creditors: amounts falling due within one year note

Creditors at 30 June 2023 comprise trade creditors £18,342, Taxation £14,034 and other creditors £166,575. Creditors at 30 June 2022 comprise trade creditors £100, taxation £9,221 and other creditors £180,966.

BITTERNE INVESTMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

7. Financial commitments

The company has entered into an operating lease contract for a motor vehicle which is due to expire within one year of the balance sheet date for an annual cost of £3,753.

BITTERNE INVESTMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

8. Loans to directors

Name of director receiving advance or credit: Mr J Bray
Description of the loan: Advance
£
Balance at 01 July 2022 158
Advances or credits made: 12,684
Advances or credits repaid: 558
Balance at 30 June 2023 12,284

The advance to the director is unsecured, interest-free and repayable upon demand.