Caseware UK (AP4) 2023.0.135 2023.0.135 Letting and operating of own real estate2023-04-01false44truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10460349 2023-04-01 2024-03-31 10460349 2022-04-01 2023-03-31 10460349 2024-03-31 10460349 2023-03-31 10460349 c:Director2 2023-04-01 2024-03-31 10460349 d:FreeholdInvestmentProperty 2024-03-31 10460349 d:FreeholdInvestmentProperty 2023-03-31 10460349 d:CurrentFinancialInstruments 2024-03-31 10460349 d:CurrentFinancialInstruments 2023-03-31 10460349 d:Non-currentFinancialInstruments 2024-03-31 10460349 d:Non-currentFinancialInstruments 2023-03-31 10460349 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 10460349 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 10460349 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 10460349 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 10460349 d:ShareCapital 2024-03-31 10460349 d:ShareCapital 2023-03-31 10460349 d:RevaluationReserve 2024-03-31 10460349 d:RevaluationReserve 2023-03-31 10460349 d:RetainedEarningsAccumulatedLosses 2024-03-31 10460349 d:RetainedEarningsAccumulatedLosses 2023-03-31 10460349 c:FRS102 2023-04-01 2024-03-31 10460349 c:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 10460349 c:FullAccounts 2023-04-01 2024-03-31 10460349 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10460349 2 2023-04-01 2024-03-31 10460349 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 10460349










BHL Properties Limited








Unaudited

Financial statements

Information for filing with the registrar

For the year ended 31 March 2024

 
BHL Properties Limited
 
  
Chartered Accountants' Report to the Board of Directors on the preparation of the Unaudited Statutory Financial Statements of BHL Properties Limited 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 financial statements of BHL Properties Limited for the year ended 31 March 2024 which comprise the Balance sheet 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 https://www.icaew.com /regulation.

This report is made solely to the Board of directors of BHL Properties Limited, as a body, in accordance with the terms of our engagement letter dated 19 August 2024Our work has been undertaken solely to prepare for your approval the financial statements of BHL Properties Limited and state those matters that we have agreed to state to the Board of directors of BHL Properties Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than BHL Properties Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that BHL Properties Limited 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 BHL Properties Limited. You consider that BHL Properties Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of BHL Properties Limited. 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.

  



Kreston Reeves LLP
 
9 Donnington Park
85 Birdham Road
Chichester
West Sussex
PO20 7AJ
3 September 2024
Page 1

 
BHL Properties Limited
Registered number: 10460349

Balance Sheet
As at 31 March 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
5,000,000
5,000,000

  
5,000,000
5,000,000

Current assets
  

Debtors: amounts falling due within one year
 5 
834
903

Cash at bank and in hand
  
395,013
378,942

  
395,847
379,845

Creditors: amounts falling due within one year
 6 
(485,984)
(483,777)

Net current liabilities
  
 
 
(90,137)
 
 
(103,932)

Total assets less current liabilities
  
4,909,863
4,896,068

Creditors: amounts falling due after more than one year
 7 
(1,704,716)
(1,890,716)

Provisions for liabilities
  

Deferred tax
  
(371,682)
(367,729)

  
 
 
(371,682)
 
 
(367,729)

Net assets
  
2,833,465
2,637,623


Capital and reserves
  

Called up share capital 
  
100
100

Revaluation reserve
  
1,144,276
1,144,276

Profit and loss account
  
1,689,089
1,493,247

  
2,833,465
2,637,623

Page 2

 
BHL Properties Limited
Registered number: 10460349

Balance Sheet (continued)
As at 31 March 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Mr D P Callander
Director

Date: 2 September 2024

The notes on pages 4 to 7 form part of these financial statements.

Page 3

 
BHL Properties Limited
 

 
Notes to the 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:
9 Donnington Park
85 Birdham Road
Chichester
West Sussex
United Kingdom
PO20 7AJ
 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Revenue

Revenue represents the value of rental income and all other associated income receivable by the Company.

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Investment property

Investment property is carried at fair value determined annually by internal valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

Page 4

 
BHL Properties Limited
 

 
Notes to the Financial Statements
For the year ended 31 March 2024

2.Accounting policies (continued)

 
2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.5

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.6

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.7

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 5

 
BHL Properties Limited
 

 
Notes to the Financial Statements
For the year ended 31 March 2024

2.Accounting policies (continued)

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


Employees




The average monthly number of employees, including directors, during the period was 4 (2023 - 4).


4.


Investment property


Investment property

£



Valuation


At 1 April 2023
5,000,000



At 31 March 2024
5,000,000

The 2024 valuations were made by the director Mr D P Callander, on an open market value for existing use basis.

The last professional valuation was completed on the 30 September 2022 by Primmer Olds.



Page 6

 
BHL Properties Limited
 

 
Notes to the Financial Statements
For the year ended 31 March 2024

5.


Debtors

2024
2023
£
£


Other debtors
-
69

Prepayments and accrued income
834
834

834
903



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
-
9,816

Corporation tax
61,302
63,815

Other taxation and social security
13,590
-

Other creditors
329,675
329,675

Accruals and deferred income
81,417
80,471

485,984
483,777



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Other creditors
1,704,716
1,890,716

1,704,716
1,890,716



8.


Related party transactions

During the year there was no movement in the loan from a company controlled by two of the directors. The amount due to the company at the year end was £121,675 (2023 - £121,675)
During the year there was no movement in the loan from a company controlled by a trust where by two of the directors are trustees. The amount due to the company at the year end was £22,000 (2023 - £22,000)


Page 7