REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 25 April 2022 to 31 March 2023 |
for |
The Batjac Property Company Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 25 April 2022 to 31 March 2023 |
for |
The Batjac Property Company Limited |
The Batjac Property Company Limited (Registered number: 14067379) |
Contents of the Financial Statements |
for the Period 25 April 2022 to 31 March 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
The Batjac Property Company Limited |
Company Information |
for the Period 25 April 2022 to 31 March 2023 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
18 School Avenue |
Basildon |
Essex |
SS15 6GJ |
The Batjac Property Company Limited (Registered number: 14067379) |
Balance Sheet |
31 March 2023 |
Notes | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT LIABILITIES | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
6 |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges his 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 Batjac Property Company Limited (Registered number: 14067379) |
Balance Sheet - continued |
31 March 2023 |
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 |
The Batjac Property Company Limited (Registered number: 14067379) |
Notes to the Financial Statements |
for the Period 25 April 2022 to 31 March 2023 |
1. | STATUTORY INFORMATION |
The Batjac Property Company Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents the fair value of rents receivable. |
Investment property |
Investment property is shown at most recent valuation. No depreciation is provided. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
The Batjac Property Company Limited (Registered number: 14067379) |
Notes to the Financial Statements - continued |
for the Period 25 April 2022 to 31 March 2023 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. |
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. |
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. |
Financial liabilities 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 company after deducting all of its liabilities. |
Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. |
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. |
Taxation |
Taxation for the period 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. |
The Batjac Property Company Limited (Registered number: 14067379) |
Notes to the Financial Statements - continued |
for the Period 25 April 2022 to 31 March 2023 |
2. | ACCOUNTING POLICIES - continued |
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 period 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
Additions |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
Fair value at 31 March 2023 is represented by: |
£ |
Valuation in 2023 | 240,000 |
If investment property had not been revalued it would have been included at the following historical cost: |
£ |
Cost | 240,000 |
Aggregate depreciation | (4,800 | ) |
The fair value of the investment property as at 31 March 2023 has been determined by the director, on an open market value for existing use basis, and is not considered to be materially different from the independent professionally-qualified valuation undertaken by Castles Surveyors on 18 July 2022. |
The Batjac Property Company Limited (Registered number: 14067379) |
Notes to the Financial Statements - continued |
for the Period 25 April 2022 to 31 March 2023 |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Amounts owed to group undertakings |
Corporation tax |
6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
£ |
Other loans more 5yrs non-inst | 170,520 |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Other loans more 5yrs non-inst |
7. | SECURED DEBTS |
The following secured debts are included within creditors: |
£ |
Other loans |
8. | RELATED PARTY DISCLOSURES |
As a 100% owned subsidiary of The Batjac Trading Company Limited, the company has availed themselves of exemption under FRS 102 paragraph 33.1A from disclosing transactions with group companies. |