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Registered number: 13864853
Bullitt Properties Limited
Financial Statements
For The Year Ended 31 January 2024
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—4
Page 1
Statement of Financial Position
Registered number: 13864853
31 January 2024 31 January 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 164 246
Investment Properties 5 167,273 163,927
167,437 164,173
CURRENT ASSETS
Cash at bank and in hand 2,898 995
2,898 995
Creditors: Amounts Falling Due Within One Year 6 (58,530 ) (59,016 )
NET CURRENT ASSETS (LIABILITIES) (55,632 ) (58,021 )
TOTAL ASSETS LESS CURRENT LIABILITIES 111,805 106,152
Creditors: Amounts Falling Due After More Than One Year 7 (113,354 ) (116,765 )
NET LIABILITIES (1,549 ) (10,613 )
CAPITAL AND RESERVES
Called up share capital 8 2 2
Income Statement (1,551 ) (10,615 )
SHAREHOLDERS' FUNDS (1,549) (10,613)
Page 1
Page 2
For the year ending 31 January 2024 the company was entitled to exemption from audit 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.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Harry Martyn Bull
Director
18/04/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Bullitt Properties Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13864853 . The registered office is 85 Ashbourne Road, Mackworth, Derby, DE22 4LZ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors consider that the company will continue to operate based on the current financial information and continued support of the bank and directors. On the basis the directors consider it appropriate to prepare the accounts on a going concern basis.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 0%
Computer Equipment 33% reducing balance
2.5. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the income statement.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Land & Buildings Plant & Machinery etc. Total
£ £ £
Cost or Valuation
As at 1 February 2023 - 369 369
As at 31 January 2024 - 369 369
Depreciation
As at 1 February 2023 - 123 123
Provided during the period - 82 82
As at 31 January 2024 - 205 205
Net Book Value
As at 31 January 2024 - 164 164
As at 1 February 2023 - 246 246
Page 3
Page 4
5. Investment Property
31 January 2024
£
Fair Value
As at 1 February 2023 163,927
Fair value adjustments 3,346
As at 31 January 2024 167,273
6. Creditors: Amounts Falling Due Within One Year
31 January 2024 31 January 2023
£ £
Bank loans and overdrafts 4,148 4,148
Other creditors 54,382 54,868
58,530 59,016
7. Creditors: Amounts Falling Due After More Than One Year
31 January 2024 31 January 2023
£ £
Bank loans 113,354 116,765
8. Share Capital
31 January 2024 31 January 2023
£ £
Allotted, Called up and fully paid 2 2
9. Directors Advances, Credits and Guarantees
Included within Creditors are the following loans from directors:
As at 1 February 2023 Amounts advanced Amounts repaid Amounts written off As at 31 January 2024
£ £ £ £ £
Julie Bull 26,594 (225 ) - - 26,369
Harry Martyn Bull 26,594 (225 ) - - 26,369
The above loan is unsecured, interest free and repayable on demand.
Page 4