REGISTERED NUMBER: |
Bmch Properties Ltd |
Unaudited Financial Statements for the Year Ended 31 December 2023 |
REGISTERED NUMBER: |
Bmch Properties Ltd |
Unaudited Financial Statements for the Year Ended 31 December 2023 |
Bmch Properties Ltd (Registered number: 07454263) |
Contents of the Financial Statements |
for the Year Ended 31 December 2023 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
Bmch Properties Ltd |
Company Information |
for the Year Ended 31 December 2023 |
Directors: |
Secretary: |
Registered office: |
Registered number: |
Accountants: |
5 Queen Street |
Great Yarmouth |
Norfolk |
NR30 2QP |
Bmch Properties Ltd (Registered number: 07454263) |
Statement of Financial Position |
31 December 2023 |
31/12/23 | 31/12/22 |
Notes | £ | £ | £ | £ |
Fixed assets |
Investment property | 4 |
Current assets |
Cash at bank |
Creditors |
Amounts falling due within one year | 5 |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities |
Provisions for liabilities |
Net assets |
Capital and reserves |
Called up share capital |
Revaluation reserve | 6 |
Retained earnings |
Shareholders' funds |
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 were approved by the Board of Directors and authorised for issue on |
Bmch Properties Ltd (Registered number: 07454263) |
Notes to the Financial Statements |
for the Year Ended 31 December 2023 |
1. | Statutory information |
Bmch Properties Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | Accounting policies |
Basis of preparing the financial statements |
Turnover |
Turnover represents rents receivable (net of VAT). |
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 |
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. |
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 statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 |
Bmch Properties Ltd (Registered number: 07454263) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
4. | Investment property |
Total |
£ |
Fair value |
At 1 January 2023 |
Revaluations | (9,864 | ) |
At 31 December 2023 |
Net book value |
At 31 December 2023 |
At 31 December 2022 |
Fair value at 31 December 2023 is represented by: |
£ |
Valuation in 2014 | 3,135 |
Valuation in 2015 | 5,000 |
Valuation in 2016 | 5,000 |
Valuation in 2017 | 8,500 |
Valuation in 2018 | 4,000 |
Valuation in 2019 | 1,420 |
Valuation in 2020 | 13,956 |
Valuation in 2021 | 30,089 |
Valuation in 2022 | 23,635 |
Valuation in 2023 | (9,864 | ) |
Cost | 151,865 |
236,736 |
If the investment property had not been revalued it would have been included at the following historical cost: |
31/12/23 | 31/12/22 |
£ | £ |
Cost | 151,865 | 151,865 |
The investment property was valued on an open market basis on 31 December 2023 by the company directors. . |
5. | Creditors: amounts falling due within one year |
31/12/23 | 31/12/22 |
£ | £ |
Taxation and social security |
Other creditors |
Bmch Properties Ltd (Registered number: 07454263) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
6. | Reserves |
Revaluatio |
reserve |
£ |
At 1 January 2023 |
Transferred | (7,990 | ) |
At 31 December 2023 |
7. | Related party disclosures |
Within creditors is a balance of £91,910 ( 2022 - £92,913 ) due to the Heywood family from the company. |
8. | Ultimate controlling party |
The controlling party is the Heywood family. |