Burtenshaw Properties Limited 10494970 false 2022-12-01 2023-11-30 2023-11-30 The principal activity of the company is that of property letting. Digita Accounts Production Advanced 6.30.9574.0 true 10494970 2022-12-01 2023-11-30 10494970 2023-11-30 10494970 core:RetainedEarningsAccumulatedLosses 2023-11-30 10494970 core:RevaluationReserve 2023-11-30 10494970 core:ShareCapital 2023-11-30 10494970 core:CurrentFinancialInstruments core:WithinOneYear 2023-11-30 10494970 core:Non-currentFinancialInstruments core:AfterOneYear 2023-11-30 10494970 core:MoreThanFiveYears 1 2023-11-30 10494970 core:LandBuildings 2023-11-30 10494970 bus:SmallEntities 2022-12-01 2023-11-30 10494970 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 10494970 bus:FullAccounts 2022-12-01 2023-11-30 10494970 bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 10494970 bus:Director3 2022-12-01 2023-11-30 10494970 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 10494970 core:LandBuildings 2022-12-01 2023-11-30 10494970 countries:AllCountries 2022-12-01 2023-11-30 10494970 core:LandBuildings 2022-11-30 10494970 2021-12-01 2022-11-30 10494970 2022-11-30 10494970 core:RetainedEarningsAccumulatedLosses 2022-11-30 10494970 core:RevaluationReserve 2022-11-30 10494970 core:ShareCapital 2022-11-30 10494970 core:CurrentFinancialInstruments core:WithinOneYear 2022-11-30 10494970 core:Non-currentFinancialInstruments core:AfterOneYear 2022-11-30 10494970 core:MoreThanFiveYears 1 2022-11-30 10494970 core:LandBuildings 2022-11-30 iso4217:GBP xbrli:pure

Registration number: 10494970

Burtenshaw Properties Limited

Unaudited Financial Statements

for the Year Ended 30 November 2023

 

Burtenshaw Properties Limited

(Registration number: 10494970)

Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

3

747,718

550,000

Current assets

 

Debtors

4

100

46,326

Cash at bank and in hand

 

4,141

3,427

 

4,241

49,753

Creditors: Amounts falling due within one year

5

(144,678)

(90,980)

Net current liabilities

 

(140,437)

(41,227)

Total assets less current liabilities

 

607,281

508,773

Creditors: Amounts falling due after more than one year

5

(506,587)

(384,393)

Provisions for liabilities

(24,225)

(29,909)

Net assets

 

76,469

94,471

Capital and reserves

 

Called up share capital

100

100

Fair value reserve

130,668

124,984

Profit and loss account

(54,299)

(30,613)

Total equity

 

76,469

94,471

For the financial year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Director's Report and the Profit and Loss Account has been taken.

 

Burtenshaw Properties Limited

(Registration number: 10494970)

Balance Sheet as at 30 November 2023 (continued)

These financial statements, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A Small Entities, were approved and authorised for issue by the director on 21 February 2024
 

.........................................

T W Banham
Director

 

Burtenshaw Properties Limited

Notes to the Financial Statements for the Year Ended 30 November 2023

1

Accounting policies

Statutory information

Burtenshaw Properties Limited is a private company, limited by shares, domiciled in England and Wales, company number 10494970. The registered office is at 59 Hadfield Street, Sheffield, S6 3RR.

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The presentation currency is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of accommodation in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used.

 

Burtenshaw Properties Limited

Notes to the Financial Statements for the Year Ended 30 November 2023 (continued)

1

Accounting policies (continued)

Investment properties

Certain of the company’s properties are held for long-term investment. Investment properties are accounted for as follows:

Investment properties are initially recognised at cost which includes purchase cost and any directly attributable expenditure.

Investment properties whose fair value can be measured reliably are measured at fair value. The surplus or deficit on revaluation is recognised in the profit and loss account and accumulated in the profit and loss reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the statement of comprehensive income.

2

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

3

Tangible assets

Investment properties
£

Valuation

At 1 December 2022

550,000

Additions

197,718

At 30 November 2023

747,718

Carrying amount

At 30 November 2023

747,718

At 30 November 2022

550,000

Revaluation

 

Burtenshaw Properties Limited

Notes to the Financial Statements for the Year Ended 30 November 2023 (continued)

3

Tangible assets (continued)

The fair value of the company's investment properties were revalued on 30 November 2023 by the director on an open market basis at £747,718.
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £592,825 (2022 - £395,107).

4

Debtors

2023
£

2022
£

Prepayments

-

350

Other debtors

100

45,976

100

46,326

5

Creditors

2023
£

2022
£

Due within one year

Other creditors

94,637

90,000

Accruals

1,100

980

Director's current account

48,941

-

144,678

90,980

2023
£

2022
£

Due after one year

Loans and borrowings

506,587

384,393

The loans and borrowings are secured against the assets of the company.

Included in the loans and borrowings are the following amounts due after more than five years:

2023
£

2022
£

Due after more than five years

After more than five years by instalments

506,587

384,393

-

-

6

Related party transactions

Included in creditors is a directors loan balance of £48,941 (2022: (£45,976)). This loan was interest free.