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COMPANY REGISTRATION NUMBER: 11477338
Baldwyn Properties Ltd
Unaudited Financial Statements
31 August 2023
Baldwyn Properties Ltd
Financial Statements
Year ended 31 August 2023
Contents
Page
Director's report
1
Income statement
2
Statement of financial position
3
Notes to the financial statements
4
The following pages do not form part of the financial statements
Chartered accountant's report to the director on the preparation of the unaudited statutory financial statements
7
Baldwyn Properties Ltd
Director's Report
Year ended 31 August 2023
The director presents his report and the unaudited financial statements of the company for the year ended 31 August 2023 .
Director
The director who served the company during the year was as follows:
Mr B Heer
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 29 August 2024 and signed on behalf of the board by:
Mr B Heer
Director
Registered office:
The Old Mill
9 Soar Lane
Leicester
LE3 5DE
Baldwyn Properties Ltd
Income Statement
Year ended 31 August 2023
2023
2022
Note
£
£
Turnover
1,160,000
2,030,000
Cost of sales
944,916
1,881,601
------------
------------
Gross profit
215,084
148,399
Administrative expenses
12,561
45,331
Other operating income
41,717
---------
---------
Operating profit
244,240
103,068
Interest payable and similar expenses
4
35,221
102,473
---------
---------
Profit before taxation
209,019
595
Tax on profit
---------
----
Profit for the financial year
209,019
595
---------
----
All the activities of the company are from continuing operations.
The company has no other recognised items of income and expenses other than the results for the year as set out above.
Baldwyn Properties Ltd
Statement of Financial Position
31 August 2023
2023
2022
Note
£
£
Current assets
Stocks
438,612
1,364,571
Debtors
5
325,296
160,000
Cash at bank and in hand
6,435
139,636
---------
------------
770,343
1,664,207
Creditors: amounts falling due within one year
6
481,715
868,430
---------
------------
Net current assets
288,628
795,777
---------
---------
Total assets less current liabilities
288,628
795,777
Creditors: amounts falling due after more than one year
7
362,820
1,078,988
---------
------------
Net liabilities
( 74,192)
( 283,211)
---------
------------
Capital and reserves
Called up share capital
101
101
Profit and loss account
( 74,293)
( 283,312)
--------
---------
Shareholders deficit
( 74,192)
( 283,211)
--------
---------
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 29 August 2024 , and are signed on behalf of the board by:
Mr B Heer
Director
Company registration number: 11477338
Baldwyn Properties Ltd
Notes to the Financial Statements
Year ended 31 August 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Old Mill, 9 Soar Lane, Leicester, LE3 5DE.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover relates to the sale of land and properties and is recognised when a sale contract is legally binding.
Operating leases
Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4. Interest payable and similar expenses
2023
2022
£
£
Interest on banks loans and overdrafts
35,221
102,473
--------
---------
5. Debtors
2023
2022
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
321,296
160,000
Other debtors
4,000
---------
---------
325,296
160,000
---------
---------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
10,140
Trade creditors
306,793
Amounts owed to group undertakings and undertakings in which the company has a participating interest
465,089
558,637
Other creditors
6,486
3,000
---------
---------
481,715
868,430
---------
---------
7. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
362,820
1,078,988
---------
------------
8. Going concern
The companies liabilities exceed its assets by £74,192 as at the year end. The directors have stated that they will continue to support the company and therefore the company will continue on a going concern basis.
Baldwyn Properties Ltd
Management Information
Year ended 31 August 2023
The following pages do not form part of the financial statements.
Baldwyn Properties Ltd
Chartered Accountant's Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of Baldwyn Properties Ltd
Year ended 31 August 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Baldwyn Properties Ltd for the year ended 31 August 2023, which comprise the income statement, statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the director of Baldwyn Properties Ltd. Our work has been undertaken solely to prepare for your approval the financial statements of Baldwyn Properties Ltd and state those matters that we have agreed to state to you in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Baldwyn Properties Ltd and its director for our work or for this report.
It is your duty to ensure that Baldwyn Properties Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Baldwyn Properties Ltd. You consider that Baldwyn Properties Ltd is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Baldwyn Properties Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
VERSANT ASSOCIATES LLP Chartered accountants
The Old Mill, 9 Soar Lane Leicester LE3 5DE