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Registered Number: 12807685
England and Wales

 

 

 

BSBI PROPERTY LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 September 2022

End date: 31 August 2023
Report to the directors on the preparation of the unaudited statutory accounts of BSBI PROPERTY LIMITED for the year ended 31 August 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of BSBI PROPERTY LIMITED for the year ended 31 August 2023 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
This report is made solely to the Board of Directors of BSBI PROPERTY LIMITED, as a body, in accordance with the terms of our engagement letter dated 16 April 2024 Our work has been undertaken solely to prepare for your approval the accounts of BSBI PROPERTY LIMITED and state those matters that we have agreed to state to the Board of Directors of BSBI PROPERTY LIMITED, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than BSBI PROPERTY LIMITED and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that BSBI PROPERTY LIMITED has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of BSBI PROPERTY LIMITED. You consider that BSBI PROPERTY LIMITED is exempt from the statutory audit requirement for the year
We have not been instructed to carry out an audit or a review of the accounts of BSBI PROPERTY LIMITED. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts
31 August 2023



....................................................
SNP Plus Ltd
Accountants and Tax Advisors
284 Station Road
Harrow, London
HA1 2EA
16 April 2024
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 1,919,226    895,110 
1,919,226    895,110 
Current assets      
Cash at bank and in hand 177    452,873 
Creditors: amount falling due within one year (1,378,317)   (911,645)
Net current assets (1,378,140)   (458,772)
 
Total assets less current liabilities 541,086    436,338 
Creditors: amount falling due after more than one year (681,190)   (475,465)
Provisions for liabilities (194)   (116)
Net assets (140,298)   (39,243)
 

Capital and reserves
     
Called up share capital 4 100    100 
Profit and loss account (140,398)   (39,345)
Shareholder's funds (140,298)   (39,245)
 


For the year ended 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 16 April 2024 and were signed on its behalf by:


-------------------------------
Pawan Kumar
Director
-------------------------------
Archana Mann
Director
2
General Information
BSBI PROPERTY LIMITED is a private company, limited by shares, registered in England and Wales, registration number 12807685, registration address 2 CHENIES AVENUE, AMERSHAM, HP6 6PR.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of services supplied by the company. 
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 20% Straight Line
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 0 (2022 : 0).
3.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Investment properties   Total
  £   £   £
At 01 September 2022 1,014    894,501    895,515 
Additions 771    1,023,703    1,024,474 
Disposals    
At 31 August 2023 1,785    1,918,204    1,919,989 
Depreciation
At 01 September 2022 406      406 
Charge for year 357      357 
On disposals    
At 31 August 2023 763      763 
Net book values
Closing balance as at 31 August 2023 1,022    1,918,204    1,919,226 
Opening balance as at 01 September 2022 608    894,502    895,110 

Investment Properties
As per the director, the market value of the first Investment Properties as on 31st August 2023 is not materially different than the cost price of £894,501.00.

During the year, the company purchased second Investment Properties which has been stated at historical costs, being first period of acquisition.

4.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
100 Class A shares of £1.00 each 100    100 
100    100 

5.

Related parties

During the year the company entered into the following transactions with related parties:
Transaction value - income/(expenses) Balance owed by/(owed to)
2023
£
 2022
£
 2023
£
 2022
£
Mr. Pawan Kumar and Mrs. Archana Mann322,330 322,344 
3