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REGISTERED NUMBER: 02978484 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2023

for

Bisterne Developments Limited

Bisterne Developments Limited (Registered number: 02978484)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Bisterne Developments Limited

Company Information
for the Year Ended 31 October 2023







DIRECTOR: S H Tizzard





REGISTERED OFFICE: 17 Donnelly Road
Bournemouth
Dorset
BH6 5NE





REGISTERED NUMBER: 02978484 (England and Wales)





ACCOUNTANTS: Simon Scott Accounts
17 Donnelly Road
Bournemouth
Dorset
BH6 5NW

Bisterne Developments Limited (Registered number: 02978484)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 21,932 24,021
Investment property 5 3,916,350 3,660,127
3,938,282 3,684,148

CURRENT ASSETS
Stocks 813,219 759,572
Debtors 6 3,837 2,963
Cash at bank 138,116 655,501
955,172 1,418,036
CREDITORS
Amounts falling due within one year 7 508,658 626,470
NET CURRENT ASSETS 446,514 791,566
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,384,796

4,475,714

CREDITORS
Amounts falling due after more than
one year

8

1,706,000

1,706,000
NET ASSETS 2,678,796 2,769,714

Bisterne Developments Limited (Registered number: 02978484)

Balance Sheet - continued
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 9 100 100
Revaluation reserve 10 1,387,500 1,387,500
Retained earnings 1,291,196 1,382,114
SHAREHOLDERS' FUNDS 2,678,796 2,769,714

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

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

The director acknowledges his 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 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 director and authorised for issue on 5 April 2024 and were signed by:





S H Tizzard - Director


Bisterne Developments Limited (Registered number: 02978484)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Bisterne Developments 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 as modified by the revaluation of certain assets.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

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.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

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.


Bisterne Developments Limited (Registered number: 02978484)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

2. ACCOUNTING POLICIES - continued
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.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 November 2022 25,552 32,500 58,052
Additions 3,477 - 3,477
At 31 October 2023 29,029 32,500 61,529
DEPRECIATION
At 1 November 2022 15,945 18,086 34,031
Charge for year 1,963 3,603 5,566
At 31 October 2023 17,908 21,689 39,597
NET BOOK VALUE
At 31 October 2023 11,121 10,811 21,932
At 31 October 2022 9,607 14,414 24,021

Bisterne Developments Limited (Registered number: 02978484)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2022 3,660,127
Additions 256,223
At 31 October 2023 3,916,350
NET BOOK VALUE
At 31 October 2023 3,916,350
At 31 October 2022 3,660,127

The director reviewed the valuation of investment properties at the balance sheet date, After taking into account the current state of the property market and the properties' condition, it was determined that the properties valuation remains in line with market value.

Fair value at 31 October 2023 is represented by:
£   
Valuation in 2021 1,567,393
Cost 2,348,957
3,916,350

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Other debtors 3,837 2,963

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Taxation and social security - 3,600
Other creditors 508,658 622,870
508,658 626,470

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans 1,706,000 1,706,000

Bisterne Developments Limited (Registered number: 02978484)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.10.23 31.10.22
value: £    £   
100 Ordinary £1 100 100

10. RESERVES
Revaluation
reserve
£   
At 1 November 2022
and 31 October 2023 1,387,500