Caseware UK (AP4) 2022.0.179 2022.0.179 2022-06-302022-06-30BYM Lettings No 3 Limited is a private company limited by shares, incorporated in England and Wales. Its registered office is 30 Old Bailey, London, United Kingdom, EC4M 7AU. Its company number is 12249342. The principal activity of the Company is that of the letting and operating of owned or leased real estate. These financial statements have been presented in Pounds Sterling (£) as this is the Company's functional currency, being the primary economic environment in which the company operates. The monetary amounts included in these financial statements are rounded to the nearest £. that of the letting and operating of owned or leased real estate.3true2021-07-01false3falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12249342 2021-07-01 2022-06-30 12249342 2020-07-01 2021-06-30 12249342 2022-06-30 12249342 2021-06-30 12249342 2020-07-01 12249342 c:RestatedAmount 2021-06-30 12249342 1 2021-07-01 2022-06-30 12249342 d:Director1 2021-07-01 2022-06-30 12249342 d:Director2 2021-07-01 2022-06-30 12249342 d:Director3 2021-07-01 2022-06-30 12249342 d:RegisteredOffice 2021-07-01 2022-06-30 12249342 c:LeaseholdInvestmentProperty 2021-07-01 2022-06-30 12249342 c:LeaseholdInvestmentProperty 2022-06-30 12249342 c:LeaseholdInvestmentProperty 2021-06-30 12249342 c:LeaseholdInvestmentProperty 2 2021-07-01 2022-06-30 12249342 c:CurrentFinancialInstruments 2022-06-30 12249342 c:CurrentFinancialInstruments 2021-06-30 12249342 c:Non-currentFinancialInstruments 2022-06-30 12249342 c:Non-currentFinancialInstruments 2021-06-30 12249342 c:CurrentFinancialInstruments c:WithinOneYear 2022-06-30 12249342 c:CurrentFinancialInstruments c:WithinOneYear 2021-06-30 12249342 c:Non-currentFinancialInstruments c:AfterOneYear 2022-06-30 12249342 c:Non-currentFinancialInstruments c:AfterOneYear 2021-06-30 12249342 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2022-06-30 12249342 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2021-06-30 12249342 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2022-06-30 12249342 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2021-06-30 12249342 c:ShareCapital 2021-07-01 2022-06-30 12249342 c:ShareCapital 2022-06-30 12249342 c:ShareCapital 2020-07-01 2021-06-30 12249342 c:ShareCapital 2021-06-30 12249342 c:ShareCapital 2020-07-01 12249342 c:RetainedEarningsAccumulatedLosses 2021-07-01 2022-06-30 12249342 c:RetainedEarningsAccumulatedLosses 2022-06-30 12249342 c:RetainedEarningsAccumulatedLosses 2020-07-01 2021-06-30 12249342 c:RetainedEarningsAccumulatedLosses 2021-06-30 12249342 c:RetainedEarningsAccumulatedLosses c:RestatedAmount 2021-06-30 12249342 c:RetainedEarningsAccumulatedLosses 2020-07-01 12249342 d:OrdinaryShareClass1 2021-07-01 2022-06-30 12249342 d:OrdinaryShareClass1 2022-06-30 12249342 d:OrdinaryShareClass1 2021-06-30 12249342 d:FRS102 2021-07-01 2022-06-30 12249342 d:AuditExempt-NoAccountantsReport 2021-07-01 2022-06-30 12249342 d:FullAccounts 2021-07-01 2022-06-30 12249342 d:PrivateLimitedCompanyLtd 2021-07-01 2022-06-30 12249342 c:RetainedEarningsAccumulatedLosses c:PriorPeriodErrorIncreaseDecrease 2021-07-01 2022-06-30 12249342 c:PriorPeriodErrorIncreaseDecrease 2021-07-01 2022-06-30 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 12249342









BYM LETTINGS NO 3 LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2022

 
BYM LETTINGS NO 3 LIMITED
 
 
COMPANY INFORMATION


Directors
M A Amitai 
B Ditkovsky 
J Dunner 




Registered number
12249342



Registered office
30 Old Bailey

London

EC4M 7AU




Accountants
Mazars LLP
Chartered Accountants

The Pinnacle

160 Midsummer Boulevard

Milton Keynes

MK9 1FF






 
BYM LETTINGS NO 3 LIMITED
REGISTERED NUMBER: 12249342

STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2022

As restated
2022
2021
Note
£
£

Fixed assets
  

Investment property
 4 
17,200,000
9,629,500

  
17,200,000
9,629,500

Current assets
  

Debtors: amounts falling due within one year
 5 
58,977
3,649,629

Cash at bank and in hand
 6 
158,991
350

  
217,968
3,649,979

Creditors: amounts falling due within one year
 7 
(5,553,354)
(77,153)

Net current (liabilities)/assets
  
 
 
(5,335,386)
 
 
3,572,826

Total assets less current liabilities
  
11,864,614
13,202,326

Creditors: amounts falling due after more than one year
 8 
(12,980,000)
(13,230,000)

  

Net liabilities
  
(1,115,386)
(27,674)


Capital and reserves
  

Called up share capital 
 10 
100
100

Profit and loss account
 11 
(1,115,486)
(27,774)

  
(1,115,386)
(27,674)


Page 1

 
BYM LETTINGS NO 3 LIMITED
REGISTERED NUMBER: 12249342
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 2022

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 year 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 comprehensive income 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 by: 



M A Amitai
Director

Date: 1 February 2024

The notes on pages 5 to 10 form part of these financial statements.

Page 2

 
BYM LETTINGS NO 3 LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2022


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 July 2021 (as previously stated)
100
43
143

Prior year adjustment - correction of error
-
(27,817)
(27,817)

At 1 July 2021 (as restated)
100
(27,774)
(27,674)


Comprehensive income for the year

Loss for the year
-
(1,087,712)
(1,087,712)
Total comprehensive income for the year
-
(1,087,712)
(1,087,712)


At 30 June 2022
100
(1,115,486)
(1,115,386)


The notes on pages 5 to 10 form part of these financial statements.

Page 3

 
BYM LETTINGS NO 3 LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2021


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 July 2020
100
106
206


Comprehensive income for the year

Profit for the year
-
101,120
101,120
Total comprehensive income for the year
-
101,120
101,120


Contributions by and distributions to owners

Dividends: Equity capital
-
(129,000)
(129,000)


Total transactions with owners
-
(129,000)
(129,000)


At 30 June 2021
100
(27,774)
(27,674)


The notes on pages 5 to 10 form part of these financial statements.

Page 4

 
BYM LETTINGS NO 3 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2022

1.


General information

BYM Lettings No 3 Limited  is a private company limited by shares, incorporated in England and Wales. Its registered office is 30 Old Bailey, London, United Kingdom, EC4M 7AU. Its company number is 12249342.
The principal activity of the Company is that of the letting and operating of owned or leased real estate.
These financial statements have been presented in Pounds Sterling (£) as this is the Company's functional currency, being the primary economic environment in which the company operates. The monetary amounts included in these financial statements are rounded to the nearest £.

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

Going concern

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 5

 
BYM LETTINGS NO 3 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2022

2.Accounting policies (continued)

 
2.4

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.

 
2.5

Borrowing costs

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

 
2.6

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 reporting date in the countries where the Company operates and generates income.

 
2.7

Investment property

Investment property is carried at fair value determined annually by external valuers 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. Changes in fair value are recognised in profit or loss.

 
2.8

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.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

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.

 
2.11

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.

Page 6

 
BYM LETTINGS NO 3 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2022

3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2021 - 3).


4.


Investment property


Long term leasehold investment property

£



Valuation


At 1 July 2021
9,629,500


Additions at cost
8,420,000


Revaluation
(849,500)



At 30 June 2022
17,200,000

There is a legal charge over the property.
The 2022 valuations were made by directors, on an open market value for existing use basis.





5.


Debtors

As restated
2022
2021
£
£


Trade debtors
-
67,886

Amounts owed by group undertakings
-
3,023,133

Other debtors
58,977
383,179

Prepayments and accrued income
-
175,431

58,977
3,649,629



6.


Cash and cash equivalents

2022
2021
£
£

Cash at bank and in hand
158,991
350

158,991
350


Page 7

 
BYM LETTINGS NO 3 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2022

7.


Creditors: Amounts falling due within one year

2022
2021
£
£

Bank loans
250,000
-

Trade creditors
48,668
4,631

Amounts owed to group undertakings
5,238,655
22,865

Other creditors
47
-

Accruals and deferred income
15,984
49,657

5,553,354
77,153



8.


Creditors: Amounts falling due after more than one year

2022
2021
£
£

Bank loans
12,980,000
13,230,000

12,980,000
13,230,000


Bank loans shown above are due to be repaid in 2026 and are secured by a charge over leasehold land and buildings. The parent company has also given a guarantee for these loans.

Page 8

 
BYM LETTINGS NO 3 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2022

9.


Loans


Analysis of the maturity of loans is given below:


2022
2021
£
£

Amounts falling due within one year

Bank loans
250,000
-


250,000
-

Amounts falling due 1-2 years

Bank loans
250,000
250,000


250,000
250,000

Amounts falling due 2-5 years

Bank loans
12,730,000
12,980,000


12,730,000
12,980,000


13,230,000
13,230,000



10.


Share capital

2022
2021
£
£
Allotted, called up and fully paid



100 (2021 - 100) Ordinary shares of £1.00 each
100
100



11.


Reserves

Profit and loss account

The profit & loss account represents cumulative profits and losses of the Company.

Page 9

 
BYM LETTINGS NO 3 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2022

12.


Prior year adjustment

The prior year adjustment has arisen due to omitted costs of £27,817 and has resulted in changes in the reported profit for the year to 30 June 2021 as well as to the profit and loss reserves and amounts owed by group companies shown at 30 June 2021.


13.


Related party transactions

At the year end the company owed £5,215,790 to Permitted Development Investments No 3 Ltd its immediate parent company. The amount is interest free and payable on demand.
At the year end the company owed  £22,865 to BYM Lettings 14 Limited a fellow subsidiary. The amount is interest free and repayable on demand.


14.


Post balance sheet events

After the year end the company sold the long leasehold property held as an investment property held in the company at below market value.


15.


Controlling party

The controlling party is BYM Holdings Limited. Company registered in England and Wales.

Page 10