Registered number
10436163
S P Bardwell Property Limited
Filleted Accounts
31 October 2023
Infinity Tax Advisers
Accountant and Tax Advisers
977 London Road
Leigh on Sea
Essex
SS9 3LB
Tel: 01702 474466
S P Bardwell Property Limited
Registered number: 10436163
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,183,496 1,134,488
Current assets
Debtors 4 15,775 17,585
Cash at bank and in hand 132,899 30,592
148,674 48,177
Creditors: amounts falling due within one year 5 (98,780) (97,482)
Net current assets/(liabilities) 49,894 (49,305)
Total assets less current liabilities 1,233,390 1,085,183
Creditors: amounts falling due after more than one year 6 (152,371) -
Net assets 1,081,019 1,085,183
Capital and reserves
Called up share capital 200 200
Profit and loss account 1,080,819 1,084,983
Shareholders' funds 1,081,019 1,085,183
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Steven Bardwell
Director
Approved by the board on 8 April 2024
S P Bardwell Property Limited
Notes to the Accounts
for the year ended 31 October 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land and buildings, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life.
Freehold buildings Nil
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 November 2022 1,131,109 4,505 1,135,614
Additions 49,853 - 49,853
At 31 October 2023 1,180,962 4,505 1,185,467
Depreciation
At 1 November 2022 - 1,126 1,126
Charge for the year - 845 845
At 31 October 2023 - 1,971 1,971
Net book value
At 31 October 2023 1,180,962 2,534 1,183,496
At 31 October 2022 1,131,109 3,379 1,134,488
Freehold land and buildings: 2023 2022
£ £
Historical cost 925,000 925,000
Cumulative depreciation based on historical cost - -
925,000 925,000
4 Debtors 2023 2022
£ £
Trade debtors 14,367 17,309
Other debtors 1,408 276
15,775 17,585
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 14,000 -
Trade creditors 3,433 370
Taxation and social security costs 5,096 6,866
Other creditors 76,251 90,246
98,780 97,482
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 138,346 -
Other creditors 14,025 -
152,371 -
7 Related party transactions
During the year dividends were paid to the directors of £14,904 (2022 - £13,764).
8 Controlling party
The company is controlled by the directors.
9 Other information
S P Bardwell Property Limited is a private company limited by shares and incorporated in England. Its registered office is:
Brooklea
Cold Norton Road
Latchingdon, Chelmsford
Essex
CM3 6HP
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