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REGISTERED NUMBER: 09118477 (England and Wales)









BHARGAVA PROPERTY MANAGEMENT LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






BHARGAVA PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 09118477)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


BHARGAVA PROPERTY MANAGEMENT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Dr P Bhargava
Dr N Bhargava





SECRETARY: Mr A Bhargava





REGISTERED OFFICE: 21 Eastern Dene
Hazelmere
High Wycombe
Buckinghamshire
HP15 7BS





REGISTERED NUMBER: 09118477 (England and Wales)





ACCOUNTANTS: Morris Crocker
Chartered Accountants
Station House
North Street
Havant
Hampshire
PO9 1QU

BHARGAVA PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 09118477)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,324,000 1,319,000

CURRENT ASSETS
Debtors 5 1,809 1,810
Cash at bank 28,257 23,844
30,066 25,654
CREDITORS
Amounts falling due within one year 6 312,285 331,435
NET CURRENT LIABILITIES (282,219 ) (305,781 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,041,781

1,013,219

PROVISIONS FOR LIABILITIES 118,563 117,313
NET ASSETS 923,218 895,906

CAPITAL AND RESERVES
Called up share capital 425,000 425,000
Other reserves 355,690 383,064
Retained earnings 142,528 87,842
923,218 895,906

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 June 2024 and were signed on its behalf by:



Dr N Bhargava - Director


BHARGAVA PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 09118477)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Bhargava Property Management Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Rental income is recognised on a straight line basis over the term of the lease.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 and investments in non-puttable ordinary shares.

Trade and other debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, deposits with banks and other short-term highly liquid investments and bank overdrafts. In the balance sheet, bank overdrafts are shown within borrowings or current liabilities.

Trade and other creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method

Taxation
Taxation for the year 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.


BHARGAVA PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 09118477)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

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 year 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 year was NIL (2023 - NIL).

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 1,319,000
Revaluations 5,000
At 31 March 2024 1,324,000
NET BOOK VALUE
At 31 March 2024 1,324,000
At 31 March 2023 1,319,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2016 40,728
Valuation in 2017 45,000
Valuation in 2018 (20,475 )
Valuation in 2019 (9,000 )
Valuation in 2020 199,000
Valuation in 2021 45,000
Valuation in 2022 92,000
Valuation in 2023 77,000
Valuation in 2024 5,000
Cost 849,747
1,324,000

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 849,747 849,747

investment property was valued on an open market basis on 31 March 2024 by the director's .

BHARGAVA PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 09118477)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 1,809 1,810

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 12 -
Amounts owed to associates 302,000 320,000
Taxation and social security 5,944 4,560
Other creditors 4,329 6,875
312,285 331,435

7. RELATED PARTY DISCLOSURES

The following amounts were outstanding at the reporting end date in respect of loans from an associated company: £302,000 (2023: £320,000)

The loan stated above is from a company under common control and does not bear interest.