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Registered Number: 01459331
England and Wales

 

 

 

B.D. TOWNSEND LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 January 2023

End date: 31 December 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 1,623,400    1,623,400 
1,623,400    1,623,400 
Current assets      
Debtors: amounts falling due within one year 3,312    4,752 
Cash at bank and in hand 38,596    55,172 
41,908    59,924 
Creditors: amount falling due within one year (349,370)   (374,193)
Net current assets (307,462)   (314,269)
 
Total assets less current liabilities 1,315,938    1,309,131 
Provisions for liabilities (239,559)   (182,065)
Net assets 1,076,379    1,127,066 
 

Capital and reserves
     
Called up share capital 100    100 
Reserves 4 776,169    776,169 
Profit and loss account 300,110    350,797 
Shareholders' funds 1,076,379    1,127,066 
 


For the year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 16 September 2024 and were signed on its behalf by:


-------------------------------
Brian Townsend
Director
1
General Information
B.D. Townsend Limited is a private company, limited by shares, registered in England and Wales, registration number 01459331, registration address 6 Pinewood Grove, New Haw, Addlestone, Surrey, KT15 3BY.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 (1a)  The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
Going concern basis
The directors believe that the company is able to continue to obtain competitive letting income from its property portfolio, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
2.

Average number of employees

Average number of employees during the year was 0 (2022 : 0).
3.

Tangible fixed assets

Cost or valuation Investment properties   Total
  £   £
At 01 January 2023 1,623,400    1,623,400 
Additions  
Disposals  
At 31 December 2023 1,623,400    1,623,400 
Depreciation
At 01 January 2023  
Charge for year  
On disposals  
At 31 December 2023  
Net book values
Closing balance as at 31 December 2023 1,623,400    1,623,400 
Opening balance as at 01 January 2023 1,623,400    1,623,400 


4.

Investment Property Revaluation

The historical cost of the investment is £665,166 (2022: £665,166). No depreciation has been charged on the property.  The investment property was valued on an open market basis on 31 December 2017 by various parties, including RICS registered valuers who valued the commercial properties, and other letting agents with knowledge of the residential properties.

The directors consider that the valuation has not significantly altered since 31/12/2017, and it is appropriate to continue to use this valuation.

2