Company Registration No. 02903462 (England and Wales)
BILSDALE PROPERTIES LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
PM+M Solutions for Business LLP
Chartered Accountants
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
BILSDALE PROPERTIES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
BILSDALE PROPERTIES LIMITED
BALANCE SHEET
AS AT 31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,722
2,576
Current assets
Debtors
4
240,085
184,130
Cash at bank and in hand
654,039
890,742
894,124
1,074,872
Creditors: amounts falling due within one year
5
(120,219)
(248,679)
Net current assets
773,905
826,193
Total assets less current liabilities
775,627
828,769
Provisions for liabilities
(2,500)
(2,500)
Net assets
773,127
826,269
Capital and reserves
Called up share capital
7
500,000
500,000
Profit and loss reserves
273,127
326,269
Total equity
773,127
826,269

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 27 August 2024 and are signed on its behalf by:
A.R. Allison
Director
Company registration number 02903462 (England and Wales)
BILSDALE PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information

Bilsdale Properties Limited is a private company limited by shares incorporated in England and Wales. The registered office is Suite 73 Pure Offices, Turnberry Park Road, Morley, Leeds, LS27 7LE.

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. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. Revenue from the provision of professional services is recognised in the period in which the service is provided.

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:

Office equipment
20/25% 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.

1.4
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). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
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.

BILSDALE PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 3 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price.

Basic financial liabilities

Basic financial liabilities, including creditors are recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.

1.7
Equity instruments

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

1.8
Taxation

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

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.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.9
Provisions

Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

 

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision is measured at present value, the unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

BILSDALE PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

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

2024
2023
Number
Number
Total
4
5
3
Tangible fixed assets
Office equipment
Motor vehicles
Total
£
£
£
Cost
At 1 April 2023
21,038
35,556
56,594
Additions
299
-
0
299
Disposals
-
0
(35,556)
(35,556)
At 31 March 2024
21,337
-
0
21,337
Depreciation and impairment
At 1 April 2023
18,462
35,556
54,018
Depreciation charged in the year
1,153
-
0
1,153
Eliminated in respect of disposals
-
0
(35,556)
(35,556)
At 31 March 2024
19,615
-
0
19,615
Carrying amount
At 31 March 2024
1,722
-
0
1,722
At 31 March 2023
2,576
-
0
2,576
BILSDALE PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
218,071
152,318
Other debtors
7,823
14,738
225,894
167,056
Deferred tax asset
14,191
17,074
240,085
184,130

Trade debtors includes £128,706 (2023 - £84,980) due from group companies.

5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
9,608
8,127
Amounts owed to group undertakings
5,174
11,752
Corporation tax
12,737
1,799
Other taxation and social security
19,738
33,664
Other creditors
72,962
193,337
120,219
248,679
6
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Assets
Assets
2024
2023
Balances:
£
£
Fixed asset timing differences
13,316
16,055
Short term timing differences
875
1,019
14,191
17,074
2024
Movements in the year:
£
Asset at 1 April 2023
(17,074)
Charge to profit or loss
2,883
Asset at 31 March 2024
(14,191)
BILSDALE PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Shares of £1 each
500,000
500,000
500,000
500,000
8
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:
Daniel Bowles FCCA
Statutory Auditor:
PM+M Solutions for Business LLP
Date of audit report:
27 August 2024
9
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
Total
7,768
7,260
2024-03-312023-04-01false27 August 2024CCH SoftwareCCH Accounts Production 2024.100No description of principal activityThis audit opinion is unqualifiedR.B. KiltyA.R. AllisonA.R. Allisonfalsefalse029034622023-04-012024-03-31029034622024-03-31029034622023-03-3102903462core:ComputerEquipment2024-03-3102903462core:MotorVehicles2024-03-3102903462core:ComputerEquipment2023-03-3102903462core:MotorVehicles2023-03-3102903462core:CurrentFinancialInstrumentscore:WithinOneYear2024-03-3102903462core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3102903462core:CurrentFinancialInstruments2024-03-3102903462core:CurrentFinancialInstruments2023-03-3102903462core:ShareCapital2024-03-3102903462core:ShareCapital2023-03-3102903462core:RetainedEarningsAccumulatedLosses2024-03-3102903462core:RetainedEarningsAccumulatedLosses2023-03-3102903462bus:CompanySecretaryDirector12023-04-012024-03-3102903462core:ComputerEquipment2023-04-012024-03-31029034622022-04-012023-03-3102903462core:ComputerEquipment2023-03-3102903462core:MotorVehicles2023-03-31029034622023-03-3102903462core:MotorVehicles2023-04-012024-03-3102903462core:WithinOneYear2024-03-3102903462core:WithinOneYear2023-03-3102903462bus:PrivateLimitedCompanyLtd2023-04-012024-03-3102903462bus:SmallCompaniesRegimeForAccounts2023-04-012024-03-3102903462bus:FRS1022023-04-012024-03-3102903462bus:Audited2023-04-012024-03-3102903462bus:Director12023-04-012024-03-3102903462bus:Director22023-04-012024-03-3102903462bus:CompanySecretary12023-04-012024-03-3102903462bus:FullAccounts2023-04-012024-03-31xbrli:purexbrli:sharesiso4217:GBP