Company registration number 05990611 (England and Wales)
BUCKS INVESTMENTS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
PAGES FOR FILING WITH REGISTRAR
BUCKS INVESTMENTS LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 8
BUCKS INVESTMENTS LIMITED
BALANCE SHEET
AS AT 31 JULY 2023
31 July 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
4,897,702
3,858,268
Investment property
5
1,366,617
1,366,617
Investments
6
14,618,739
12,459,309
20,883,058
17,684,194
Current assets
Debtors
7
638,735
1,068,748
Cash at bank and in hand
25,372,178
24,594,177
26,010,913
25,662,925
Creditors: amounts falling due within one year
8
(106,832)
(137,826)
Net current assets
25,904,081
25,525,099
Net assets
46,787,139
43,209,293
Capital and reserves
Called up share capital
502
502
Share premium account
3,523,545
3,523,545
Profit and loss reserves
43,263,092
39,685,246
Total equity
46,787,139
43,209,293

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 19 April 2024 and are signed on its behalf by:
P J Bysouth-Kemp
Director
Company registration number 05990611 (England and Wales)
BUCKS INVESTMENTS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JULY 2023
- 2 -
Share capital
Share premium account
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 August 2021
502
3,523,545
33,886,705
37,410,752
Year ended 31 July 2022:
Profit for the financial year
-
-
5,888,541
5,888,541
Dividends
-
-
(90,000)
(90,000)
Balance at 31 July 2022
502
3,523,545
39,685,246
43,209,293
Year ended 31 July 2023:
Profit for the financial year
-
-
4,613,611
4,613,611
Issue of share capital
250
-
0
-
250
Dividends
-
-
(1,035,765)
(1,035,765)
Other movements
(250)
-
0
-
(250)
Balance at 31 July 2023
502
3,523,545
43,263,092
46,787,139
BUCKS INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
- 3 -
1
Accounting policies
Company information

Bucks Investments Limited is a private company limited by shares incorporated in England and Wales. The registered office is Units 1 & 2, Bunny Trading Estate, Gotham Lane, Bunny, Nottingham, NG11 6QJ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Dividend income from investments is recognised when the shareholder's right to receive payment has been established.

 

Interest income is recognised when it is probable that the economic benefits will flow to the company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding and the effective interest rate applicable.

Rental income is recognised by the company on an accruals basis in respect of rental income generated from the company's investment properties.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings under construction
Not yet depreciated
Plant and equipment
15% straight line
Motor vehicles
15% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

BUCKS INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
1
Accounting policies
(Continued)
- 4 -
1.4
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.5
Fixed asset investments

Investments in listed shares are revalued to market value at each reporting date. Gains and losses on revaluation are recognised in the profit and loss account for the year.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.7
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

Basic financial assets, which include debtors, loans to related parties and cash and bank balances, are initially measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

1.8
Equity instruments

Share capital issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on share capital are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

BUCKS INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
1
Accounting policies
(Continued)
- 5 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
2
2
3
Amounts written off investments
2023
2022
£
£
Gain/(loss) on disposal of investments held at fair value
-
(5,810)
Income received on investments reinvested
(270,282)
(56,324)
Amounts written off investments held at fair value
(193,660)
(338,387)
Total amounts written off investments
(463,942)
(400,521)
BUCKS INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 6 -
4
Tangible fixed assets
Freehold land and buildings under construction
Plant and equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 August 2022
3,798,708
51,674
46,151
3,896,533
Additions
1,053,412
696
-
0
1,054,108
At 31 July 2023
4,852,120
52,370
46,151
4,950,641
Depreciation and impairment
At 1 August 2022
-
0
31,004
7,261
38,265
Depreciation charged in the year
-
0
7,752
6,922
14,674
At 31 July 2023
-
0
38,756
14,183
52,939
Carrying amount
At 31 July 2023
4,852,120
13,614
31,968
4,897,702
At 31 July 2022
3,798,708
20,670
38,890
3,858,268
5
Investment property
2023
£
Fair value
At 1 August 2022 and 31 July 2023
1,366,617

Investment property comprises land and buildings held for rental income. The directors are of the opinion that since the property was acquired in December 2019, there has been no material change between the market value of the property and the valuation shown in the accounts.

6
Fixed asset investments
2023
2022
£
£
Other investments other than loans
14,618,739
12,459,309
BUCKS INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
6
Fixed asset investments
(Continued)
- 7 -
Movements in fixed asset investments
Investments
Unlisted investments
Total
£
£
£
Cost or valuation
At 1 August 2022
12,058,174
401,135
12,459,309
Additions
2,276,972
346,400
2,623,372
Valuation changes
(463,942)
-
(463,942)
At 31 July 2023
13,871,204
747,535
14,618,739
Carrying amount
At 31 July 2023
13,871,204
747,535
14,618,739
At 31 July 2022
12,058,174
401,135
12,459,309
7
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
13,996
17,496
Corporation tax recoverable
3,559
3,559
Other debtors
568,889
1,005,807
586,444
1,026,862
Deferred tax asset
52,291
41,886
638,735
1,068,748
8
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
27,198
128,069
Other creditors
79,634
9,757
106,832
137,826
BUCKS INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 8 -
9
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Andrew Timms
Statutory Auditor:
UHY Hacker Young
10
Related party transactions

At the balance sheet date, there is £408,528 (2022 - £214,638) owed by companies with directors in common or controlled by close family members of the directors of Bucks Investments Limited. The loans are included within other debtors and is interest free and repayable on demand.

 

At the balance sheet date, there is £1,777 (2022 - £92,893) was owed from the companies under common control.

 

At the balance sheet date, there is £151,025 (2022 - £778,030) held within other debtors which is in respect of amounts owed from a director.

 

During the year the company received rental income from a company under common control which totalled £252,281(2022 - £216,983). Also during the year, the company incurred expenditure of £302,160 (2022 - £820,652) to companies under common control.

 

 

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