BDN Property Management Ltd 12017103 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is letting of Investment Properties Digita Accounts Production Advanced 6.30.9574.0 true 12017103 2023-04-01 2024-03-31 12017103 2024-03-31 12017103 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 12017103 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 12017103 core:FurnitureFittingsToolsEquipment 2024-03-31 12017103 bus:SmallEntities 2023-04-01 2024-03-31 12017103 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 12017103 bus:FilletedAccounts 2023-04-01 2024-03-31 12017103 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 12017103 bus:RegisteredOffice 2023-04-01 2024-03-31 12017103 bus:Director1 2023-04-01 2024-03-31 12017103 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 12017103 bus:Agent1 2023-04-01 2024-03-31 12017103 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 12017103 countries:EnglandWales 2023-04-01 2024-03-31 12017103 2023-03-31 12017103 2022-04-01 2023-03-31 12017103 2023-03-31 12017103 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 12017103 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 12017103

BDN Property Management Ltd

Unaudited Financial Statements

(Companies House version)

for the Year Ended 31 March 2024

 

BDN Property Management Ltd

Contents

Accountants' Report

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
BDN Property Management Ltd
for the Year Ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of BDN Property Management Ltd for the year ended 31 March 2024 as set out on pages 2 to 6 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
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of BDN Property Management Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of BDN Property Management Ltd and state those matters that we have agreed to state to the Board of Directors of BDN Property Management Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than BDN Property Management Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that BDN Property Management Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of BDN Property Management Ltd. You consider that BDN Property Management 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 accounts of BDN Property Management 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 accounts.

......................................

Page Kirk LLP
Chartered accountants and chartered tax advisers
Sherwood House
7 Gregory Boulevard
Nottingham
NG7 6LB

4 September 2024

 

BDN Property Management Ltd

(Registration number: 12017103)
Balance Sheet as at 31 March 2024

Note

2024

2023

Fixed assets

 

Tangible assets

4

10,500

-

Investment property

5

624,421

206,795

 

634,921

206,795

Current assets

 

Cash at bank and in hand

 

669

2,850

Creditors: Amounts falling due within one year

6

(1,360)

(1,763)

Net current (liabilities)/assets

 

(691)

1,087

Total assets less current liabilities

 

634,230

207,882

Creditors: Amounts falling due after more than one year

6

(634,810)

(211,649)

Net liabilities

 

(580)

(3,767)

Capital and reserves

 

Called up share capital

1

1

Profit and loss account

(581)

(3,768)

Total deficit

 

(580)

(3,767)

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 4 September 2024 and signed on its behalf by:
 

.........................................

B D Needham
Director

 

BDN Property Management Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Sherwood House
7 Gregory Boulevard
Nottingham
NG7 6LB

These financial statements were authorised for issue by the Board on 4 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

BDN Property Management Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Investment property

Investment properties are revalued annually and any surplus or deficit is dealt with through the profit and loss. No depreciation is provided in respect of investment properties.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

BDN Property Management Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Additions

10,931

10,931

At 31 March 2024

10,931

10,931

Depreciation

Charge for the year

431

431

At 31 March 2024

431

431

Carrying amount

At 31 March 2024

10,500

10,500

 

BDN Property Management Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

5

Investment properties at original cost

2024
£

At 1 April 2023

206,795

Acquired during the year

417,626

At 31 March 2024

624,421

There has been no valuation of investment property by an independent valuer.

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Accruals and deferred income

1,360

1,763

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Secured Loan

460,198

147,950

Loans from associated companies

 

174,612

63,699

 

634,810

211,649