THE OLD SURGERY BAMPTON LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 NOVEMBER 2023
Company Registration Number: 11693162
THE OLD SURGERY BAMPTON LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
CONTENTS PAGES
Company information 1
Balance sheet 2 to 3
Notes to the financial statements 4 to 7
THE OLD SURGERY BAMPTON LTD
COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023
DIRECTORS
A J E Allinson
Mrs J E Allinson
SECRETARY
The company does not have an appointed secretary
REGISTERED OFFICE
4 Witan Way
Witney
Oxon
OX28 6FF
COMPANY REGISTRATION NUMBER
11693162 England and Wales
THE OLD SURGERY BAMPTON LTD
BALANCE SHEET
AS AT 30 NOVEMBER 2023
Notes 2023 2022
£ £
FIXED ASSETS
Investments 5 350,000 350,000
CURRENT ASSETS
Cash at bank and in hand 1,371 2,438
CREDITORS: Amounts falling due within one year 6 182,576 185,254
NET CURRENT LIABILITIES (181,205) (182,816)
TOTAL ASSETS LESS CURRENT LIABILITIES 168,795 167,184
Provisions for liabilities and charges 37,650 37,650
NET ASSETS 131,145 129,534
CAPITAL AND RESERVES
Called up share capital 8 8
Distributable profit and loss account 18,185 16,574
Non distributable profit and loss account 112,952 112,952
SHAREHOLDERS' FUNDS 131,145 129,534
THE OLD SURGERY BAMPTON LTD
BALANCE SHEET
AS AT 30 NOVEMBER 2023
These accounts have been prepared and delivered in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.
For the financial year ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
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.
As permitted by S444 (5A) of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company’s Profit and Loss Account or Directors Report.
Signed on behalf of the board of directors
A J E Allinson Mrs J E Allinson
Director Director
Date approved by the board: 22 August 2024
THE OLD SURGERY BAMPTON LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
1 GENERAL INFORMATION
The Old Surgery Bampton Ltd is a private company limited by shares and incorporated in England and Wales. Its registered office is:
4 Witan Way
Witney
Oxon
OX28 6FF
The financial statements are presented in Sterling, which is the functional currency of the company.
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of preparation of financial statements
These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A smaller entities 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102') and the Companies Act 2006.
Going concern
The accounts have been drawn up on the going concern basis. The company owes the directors £180,699, which could be required for repayment without notice. The company is therefore dependent upon the continued support of the directors. The directors do not consider their own support likely to be withdrawn.
If the going concern basis was not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amounts, to provide for additional liabilities that might arise and to reclassify fixed assets as current assets.
Revenue recognition
Turnover represents rental income receivable.
The company recognises revenue when the amount of revenue can be measured reliably and when it is probable that future economic benefits will flow to the entity.
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially measured at cost, including transaction costs.
Subsequently, investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in the profit and loss account in the period in which they arise.
THE OLD SURGERY BAMPTON LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
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, loans to related parties and investments in non-puttable ordinary shares.
Financial assets are measured at cost and are assessed at the end of each reporting period for objective evidence of impairment. Where objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account.
The impairment loss for financial assets measured at cost is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amount and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Debtors
Short term debtors are measured at transaction price, less any impairment.
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 subsequently at amortised cost.
THE OLD SURGERY BAMPTON LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
Taxation
Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period.
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods based on current tax rates and laws. 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 taxable profits.
Deferred tax is measured using 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.
Deferred tax relating to land and investment properties that is measured at fair value is measured using the tax rates and allowances that apply to the sale of the asset.
Current and deferred tax assets and liabilities are not discounted.
3 CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS
The directors have made key assumptions in determination of the fair value of an investment property in respect of the state of the property market in the location where the property is situated and in respect of the range of reasonable fair value estimates of the asset.
4 EMPLOYEES
The average number of persons employed by the company (including directors) during the year was:
2023 2022
Average number of employees 2 2
THE OLD SURGERY BAMPTON LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
5 FIXED ASSET INVESTMENTS
Investment property
£
Cost
At 1 December 2022 350,000
At 30 November 2023 350,000
Net book value
At 1 December 2022 350,000
At 30 November 2023 350,000
In the opinion of the directors, the investment property has been stated at fair value.
6 CREDITORS: Amounts falling due within one year
2023 2022
£ £
Taxation and social security 377 1,216
Accruals and deferred income 1,500 1,500
Other creditors 180,699 182,538
182,576 185,254
7 RELATED PARTY TRANSACTIONS
During the year, the following transactions with related parties took place:
A J E Allinson and Mrs J E Allinson
Directors and shareholders 2023 2022
£ £
Advances to company The directors have made advances to the
company which are repayable on demand. No
interest has been charged on these advances.
At the year end, the company owed the
directors the following amount:
180,699 182,538
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