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Registered number: 04893571
Bhachu Properties Ltd.
Unaudited ABRIDGED Financial Statements
For The Year Ended 30 September 2023
Lesser & Co
Chartered Accountants & Business Advisors
147 Station Road
North Chingford
London
E4 6AG
Contents
Page
Abridged Statement of Financial Position 1—2
Notes to the Abridged Financial Statements 3—4
Page 1
Abridged Statement of Financial Position
Registered number: 04893571
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 428,392 422,220
428,392 422,220
CURRENT ASSETS
Cash at bank and in hand 1,387 1,491
1,387 1,491
Creditors: Amounts Falling Due Within One Year (38,061 ) (13,104 )
NET CURRENT ASSETS (LIABILITIES) (36,674 ) (11,613 )
TOTAL ASSETS LESS CURRENT LIABILITIES 391,718 410,607
Creditors: Amounts Falling Due After More Than One Year (320,000 ) (340,000 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (29,080 ) (29,080 )
NET ASSETS 42,638 41,527
CAPITAL AND RESERVES
Called up share capital 5 1 1
Revaluation reserve 6 122,920 122,920
Income Statement (80,283 ) (81,394 )
SHAREHOLDERS' FUNDS 42,638 41,527
Page 1
Page 2
For the year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
All of the company's members have consented to the preparation of an Abridged Statement of Financial Position for the year end 30 September 2023 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr Kuldip Bhachu
Director
23/04/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
Bhachu Properties Ltd. is a private company, limited by shares, incorporated in England & Wales, registered number 04893571 . The registered office is 147 Station Road, North Chingford, London, E4 6AG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 25% Reducing Balance
Computer Equipment 25% Reducing Balance
2.4. Investment Properties
All investment properties are carried at fair value determined annually 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 for. Changes in fair value are recognised in the income statement.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2022: 1)
- 1
4. Tangible Assets
Total
£
Cost
As at 1 October 2022 438,641
Additions 10,900
Disposals (16,641 )
As at 30 September 2023 432,900
Depreciation
As at 1 October 2022 16,421
Provided during the period 1,302
Disposals (13,215 )
As at 30 September 2023 4,508
...CONTINUED
Page 3
Page 4
Net Book Value
As at 30 September 2023 428,392
As at 1 October 2022 422,220
5. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
6. Reserves
Revaluation Reserve
£
As at 1 October 2022 122,920
As at 30 September 2023 122,920
Page 4