Caseware UK (AP4) 2023.0.135 2023.0.135 2022-07-01falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.No description of principal activity00falsetrue 08512220 2022-07-01 2023-06-30 08512220 2021-07-01 2022-06-30 08512220 2023-06-30 08512220 2022-06-30 08512220 c:Director1 2022-07-01 2023-06-30 08512220 d:FreeholdInvestmentProperty 2022-07-01 2023-06-30 08512220 d:FreeholdInvestmentProperty 2023-06-30 08512220 d:FreeholdInvestmentProperty 2022-06-30 08512220 d:FreeholdInvestmentProperty 2 2022-07-01 2023-06-30 08512220 d:CurrentFinancialInstruments 2023-06-30 08512220 d:CurrentFinancialInstruments 2022-06-30 08512220 d:Non-currentFinancialInstruments 2023-06-30 08512220 d:Non-currentFinancialInstruments 2022-06-30 08512220 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 08512220 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-30 08512220 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 08512220 d:Non-currentFinancialInstruments d:AfterOneYear 2022-06-30 08512220 d:UKTax 2022-07-01 2023-06-30 08512220 d:UKTax 2021-07-01 2022-06-30 08512220 d:ShareCapital 2023-06-30 08512220 d:ShareCapital 2022-06-30 08512220 d:RetainedEarningsAccumulatedLosses 2023-06-30 08512220 d:RetainedEarningsAccumulatedLosses 2022-06-30 08512220 c:FRS102 2022-07-01 2023-06-30 08512220 c:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 08512220 c:FullAccounts 2022-07-01 2023-06-30 08512220 c:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 08512220 d:OtherDeferredTax 2023-06-30 08512220 d:OtherDeferredTax 2022-06-30 iso4217:GBP xbrli:pure

Registered number: 08512220










BATHURST ENTERPRISE LTD








Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 30 June 2023

 
BATHURST ENTERPRISE LTD
Registered number: 08512220

Balance sheet
As at 30 June 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 6 
1
86,581

Investment property
 7 
9,960,000
10,115,000

  
9,960,001
10,201,581

Current assets
  

Stocks
 8 
1,328,839
507,756

Debtors: amounts falling due within one year
 9 
974,660
2,148,997

Cash at bank and in hand
  
1,375,246
287,290

  
3,678,745
2,944,043

Creditors: amounts falling due within one year
 10 
(2,267,394)
(2,391,533)

Net current assets
  
 
 
1,411,351
 
 
552,510

Total assets less current liabilities
  
11,371,352
10,754,091

Creditors: amounts falling due after more than one year
 11 
(5,941,484)
(5,974,998)

Provisions for liabilities
  

Deferred tax
 12 
(302,769)
(302,769)

  
 
 
(302,769)
 
 
(302,769)

Net assets
  
5,127,099
4,476,324


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
5,127,097
4,476,322

  
5,127,099
4,476,324


The director considers 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 director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 on
Page 1

 
BATHURST ENTERPRISE LTD
Registered number: 08512220
    
Balance sheet (continued)
As at 30 June 2023

20 March 2024.

Mark Hamburger
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
BATHURST ENTERPRISE LTD
 
 
 
Notes to the financial statements
For the Year Ended 30 June 2023

1.


General information

Bathurst Enterprise Ltd is a company incorporated in England and Wales under the Companies Act. The company's registered number and office is shown on the company information page. The principal activity of the company is that of property investment.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.3

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.

 
2.4

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 3

 
BATHURST ENTERPRISE LTD
 
 
 
Notes to the financial statements
For the Year Ended 30 June 2023

2.Accounting policies (continued)

  
2.5
Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties. 
Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received. 
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method.
 

  
2.6
Reserves

The company's reserves are as follows:
• Called up share capital represents the nominal value of the shares issued
• Profit and Loss Account represents cummulative profits or losses, net of dividends and other adjustments.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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 balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 4

 
BATHURST ENTERPRISE LTD
 
 
 
Notes to the financial statements
For the Year Ended 30 June 2023

2.Accounting policies (continued)

  
2.8
Turnover

Turnover represents gross rental income from the letting of property and 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.  


3.


Other operating income

2023
2022
£
£

Other operating income
758,467
781,131

758,467
781,131


Other operating income represents profit on sale of property stocks.


4.


Employees




The Company has no employees other than the directors, who did not receive any remuneration (2022 - £NIL).


5.


Taxation


2023
2022
£
£

Corporation tax


Current tax on profits for the year
117,644
139,800

Adjustments in respect of previous periods
(941)
-


116,703
139,800


Total current tax
116,703
139,800

Deferred tax


Origination and reversal of timing differences
-
302,769

Total deferred tax
-
302,769


Taxation on profit on ordinary activities
116,703
442,569
Page 5

 
BATHURST ENTERPRISE LTD
 
 
 
Notes to the financial statements
For the Year Ended 30 June 2023
 
5.Taxation (continued)






6.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 July 2022
86,581


Disposals
(86,580)



At 30 June 2023
1





7.


Investment property


Freehold investment property

£



Valuation


At 1 July 2022
10,115,000


Disposals
(263,950)


Surplus on revaluation
108,950



At 30 June 2023
9,960,000

The 2023 valuations were made by the director, on an open market value for existing use basis.




Page 6

 
BATHURST ENTERPRISE LTD
 
 
 
Notes to the financial statements
For the Year Ended 30 June 2023

8.


Stocks

2023
2022
£
£

Property stock
1,328,839
507,756

1,328,839
507,756



9.


Debtors

2023
2022
£
£


Other debtors
974,660
2,148,997

974,660
2,148,997



10.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
377,623
255,680

Other creditors
1,879,771
2,117,853

Accruals and deferred income
10,000
18,000

2,267,394
2,391,533


Other creditors include £1,657,513 (2022 - £1,838,996) due to companies under common control of the director.


11.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
5,941,484
5,974,998

5,941,484
5,974,998


The bank loans are secured on some of the company's properties.

Page 7

 
BATHURST ENTERPRISE LTD
 
 
 
Notes to the financial statements
For the Year Ended 30 June 2023

12.


Deferred taxation




2023


£






At beginning of year
(302,769)



At end of year
(302,769)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Revaluation of investment property
(302,769)
(302,769)

(302,769)
(302,769)

 
Page 8