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REGISTERED NUMBER: 03398683 (England and Wales)





BUTTERFIELD PROPERTIES LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023






BUTTERFIELD PROPERTIES LTD (REGISTERED NUMBER: 03398683)

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


BUTTERFIELD PROPERTIES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTOR: Mrs D Walker



REGISTERED OFFICE: Stretton House
Highstairs Lane
Stretton
Alfreton
Derbyshire
DE55 6FD



REGISTERED NUMBER: 03398683 (England and Wales)



ACCOUNTANTS: ApC
Chartered Accountants
7 St John Street
Mansfield
Nottinghamshire
NG18 1QH



BANKERS: NatWest
58 St Peters Street
Derby
DE1 1XL

BUTTERFIELD PROPERTIES LTD (REGISTERED NUMBER: 03398683)

BALANCE SHEET
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 663 817
Investment property 6 2,038,401 2,038,401
2,039,064 2,039,218

CURRENT ASSETS
Debtors 7 2,684 274
Cash at bank 36,421 30,610
39,105 30,884
CREDITORS
Amounts falling due within one year 8 49,699 101,415
NET CURRENT LIABILITIES (10,594 ) (70,531 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,028,470

1,968,687

CREDITORS
Amounts falling due after more than one
year

9

(1,116,700

)

(1,103,161

)

PROVISIONS FOR LIABILITIES (1,774 ) (7,431 )
NET ASSETS 909,996 858,095

CAPITAL AND RESERVES
Called up share capital 11 850 850
Revaluation reserve 12 343,423 343,423
Retained earnings 565,723 513,822
SHAREHOLDERS' FUNDS 909,996 858,095

BUTTERFIELD PROPERTIES LTD (REGISTERED NUMBER: 03398683)

BALANCE SHEET - continued
31 OCTOBER 2023


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 her 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 19 December 2023 and were signed by:





Mrs D Walker - Director


BUTTERFIELD PROPERTIES LTD (REGISTERED NUMBER: 03398683)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023


1. STATUTORY INFORMATION

Butterfield Properties Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Significant judgements and estimates
Revaluation of investment property
In 2012 the directors revalued the investment properties at open market value, which they consider is still at fair value at the balance sheet date. During the transition to FRS102, the directors have also accounted for the deferred tax on the revaluation element of those properties at the prevailing tax rates.

There is no other significant judgements or estimates, all accounting policies are disclosed in the appropriate note to the financial statements.The Directors consider no further disclosures are considered necessary.

Turnover
Turnover represents the value excluding Value Added Tax of goods and services provided to customers during the year. In respect of goods and services provided, all income is taken to profit and loss at the same point as the right to receive consideration has been acquired.

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

BUTTERFIELD PROPERTIES LTD (REGISTERED NUMBER: 03398683)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


3. ACCOUNTING POLICIES - continued

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.

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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

BUTTERFIELD PROPERTIES LTD (REGISTERED NUMBER: 03398683)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


3. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Debtors & creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognized in the profit and loss account in other administrative expenses.

4. EMPLOYEES AND DIRECTORS

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

BUTTERFIELD PROPERTIES LTD (REGISTERED NUMBER: 03398683)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 November 2022
and 31 October 2023 6,163
DEPRECIATION
At 1 November 2022 5,346
Charge for year 154
At 31 October 2023 5,500
NET BOOK VALUE
At 31 October 2023 663
At 31 October 2022 817

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2022
and 31 October 2023 2,038,401
NET BOOK VALUE
At 31 October 2023 2,038,401
At 31 October 2022 2,038,401

The UK investment properties was valued on an open market basis on 7 July 2022 by Eddisons. The Spain property was valued on an open market basis on 31st October 2022 by Manilva Properties.

BUTTERFIELD PROPERTIES LTD (REGISTERED NUMBER: 03398683)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 2,684 -
Prepayments and accrued income - 274
2,684 274

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 26,534
Amounts owed to related parties 30,000 55,000
Corporation tax 4,479 2,067
Other creditors 12,000 12,000
Accruals and deferred income 3,219 5,816
Accrued expenses 1 (2 )
49,699 101,415

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years - 27,134
Bank loans - 2-5 years - 85,173
Bank loans more 5 yr by instal - 131,352
Other creditors 184,962 196,962
Directors' loan accounts 931,738 662,540
1,116,700 1,103,161

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 131,352

BUTTERFIELD PROPERTIES LTD (REGISTERED NUMBER: 03398683)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans - 270,193

The bank loan is secured by a fixed and floating charge over the fixed assets of the company.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
850 Ordinary £1 850 850

12. RESERVES
Revaluation
reserve
£   
At 1 November 2022
and 31 October 2023 343,423

13. RELATED PARTY DISCLOSURES

During the year the company gave net financial assistance to related parties of £nil (2022:£nil), and also received net financial assistance from related parties of £nil (2022: £nil)

Amounts due to related parties at the year end amounted to £30,000 (2022: £55,000).