Caseware UK (AP4) 2022.0.179 2022.0.179 2023-06-302023-06-30falsetrue2022-04-0188trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 00526440 2022-04-01 2023-06-30 00526440 2021-04-01 2022-03-31 00526440 2023-06-30 00526440 2022-03-31 00526440 c:Director1 2022-04-01 2023-06-30 00526440 d:CurrentFinancialInstruments 2023-06-30 00526440 d:CurrentFinancialInstruments 2022-03-31 00526440 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 00526440 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 00526440 d:ShareCapital 2023-06-30 00526440 d:ShareCapital 2022-03-31 00526440 d:RetainedEarningsAccumulatedLosses 2023-06-30 00526440 d:RetainedEarningsAccumulatedLosses 2022-03-31 00526440 c:FRS102 2022-04-01 2023-06-30 00526440 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-06-30 00526440 c:FullAccounts 2022-04-01 2023-06-30 00526440 c:PrivateLimitedCompanyLtd 2022-04-01 2023-06-30 00526440 2 2022-04-01 2023-06-30 00526440 6 2022-04-01 2023-06-30 iso4217:GBP xbrli:pure

Registered number: 00526440










BUSINESS FLATS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 JUNE 2023

 
BUSINESS FLATS LIMITED
 

CONTENTS



Page
Balance sheet
 
1
Notes to the financial statements
 
2 - 5


 
BUSINESS FLATS LIMITED
REGISTERED NUMBER: 00526440

BALANCE SHEET
AS AT 30 JUNE 2023

30 June
31 March
2023
2022
Note
£
£

Fixed assets
  

Investments
 4 
-
103

Current assets
  

Stocks
  
928,741
13,120,423

Debtors: amounts falling due within one year
 5 
394,778
821,815

Cash at bank and in hand
  
1,173,122
2,519,597

  
2,496,641
16,461,835

Creditors: amounts falling due within one year
 6 
(571,520)
(6,883,484)

Net current assets
  
 
 
1,925,121
 
 
9,578,351

Total assets less current liabilities
  
1,925,121
9,578,454

  

Net assets
  
1,925,121
9,578,454


Capital and reserves
  

Called up share capital 
  
400
400

Profit and loss account
  
1,924,721
9,578,054

  
1,925,121
9,578,454


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 12 April 2024.


Mr M J Hawley
Director

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 
BUSINESS FLATS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2023

1.


General information

Business Flats Limited (the Company) is a private company limited by shares incorporated and domiciled in England. The address of the registered office is Milestone House, Shallowford Court, Henley in Arden, B95 5FY, which is also the address of its principal place of business. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Exemption from preparing consolidated financial statements

The Company, and the group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and group are considered eligible for the exemption to prepare consolidated accounts.

 
2.3

Revenue

Turnover is the amount receivable by the company for properties and leases sold and are recognised on completion.
Rental income is recognised on a receivable basis and is recognised net of related costs.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Page 2

 
BUSINESS FLATS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.8

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.9

Stocks

Stocks are valued at the lower of cost and net realisable value and consist of properties.
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

 
2.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the period was 8 (2022 - 8).

Page 3

 
BUSINESS FLATS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2023

4.


Fixed asset investments








Investments in subsidiaries

£



Cost 


At 1 April 2022
103


Disposals
(103)



At 30 June 2023
-







5.


Debtors

30 June
31 March
2023
2022
£
£


Trade debtors
301,625
258,752

Other debtors
84,535
554,991

Prepayments and accrued income
8,618
8,072

394,778
821,815



6.


Creditors: Amounts falling due within one year

30 June
31 March
2023
2022
£
£

Bank loans
-
6,450,000

Corporation tax
252,000
67,000

Other taxation and social security
8,752
32,235

Other creditors
1,259
1,259

Accruals and deferred income
309,509
332,990

571,520
6,883,484




Page 4

 
BUSINESS FLATS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2023

7.


Parent Company

The company is a wholly owned subsidiary of Business Flats Holdings Limited, a company incorporated in England.

 
Page 5