Registered Number:07561585
BEXVILLE MANAGEMENT LIMITED
UNAUDITED
FINANCIAL STATEMENTS
PAGES FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 DECEMBER 2023
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BEXVILLE MANAGEMENT LIMITED
REGISTERED NUMBER:07561585
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BALANCE SHEET
AS AT 31 DECEMBER 2023
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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- 1 -
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BEXVILLE MANAGEMENT LIMITED
REGISTERED NUMBER:07561585
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BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023
The director considers 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 director acknowledges her 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 profit and loss account 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 on 13 September 2024.
The notes on pages 3 to 7 form part of these financial statements.
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BEXVILLE MANAGEMENT LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Bexville Management Limited is a private company limited by share capital incorporated in England and Wales, registered number 07561585. The address of the registered office is 820 The Crescent, Colchester Business Park, Colchester, Essex, CO4 9YQ. The Place of Business is The Wedding Shop, 4 High Street, Colchester, Essex, CO1 1DA.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The Company's functional and presentational currency is GBP, rounding to £1.
The following principal accounting policies have been applied:
The director is satisfied that the Company has adequate resources to continue in operational existence for the foreseeable future, and for a period of at least 12 months from date of approving these financial statements.
The company is reliant on income from its property which has one tenant, to continue trading. The director has considered the performance of the customer during their assessment of going concern and believe that the company will continue to receive rent for the foreseeable future.
For this reason the director has adopted the going concern basis in preparing the accounts.
Revenue comprises rental income and 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.
Interest income is recognised in profit or loss using the effective interest method.
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
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BEXVILLE MANAGEMENT LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
2.Accounting policies (continued)
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Current and deferred taxation
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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.
Whilst the freehold property generates rental income it is not treated as an investment property as it is used in the trade of the company's subsidiary. Freehold land and property is therefore included at cost. No depreciation is provided on freehold land or property. Though contrary to the Companies Act, in the opinion of the director this is necessary to give a true and fair view of the financial position of the company. The company's policy is to maintain the property in a continual state of sound repair and accordingly the director is of the opinion that the life of the property is so long and residual values so high that their depreciation is insignificant.
The value of the property contained in the financial statements is reviewed on an annual basis by the director for impairment. Provision is made to reduce the value in the financial statements where it is felt the property value is overstated.
Investments in subsidiaries are measured at cost less accumulated impairment.
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.
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BEXVILLE MANAGEMENT LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
2.Accounting policies (continued)
The Company only enters into basic financial instrument transactions that result in the recognition of
financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
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The average monthly number of employees, including directors, during the year was 1 (2022 - 1).
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BEXVILLE MANAGEMENT LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
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Investments in subsidiary companies
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Creditors: Amounts falling due within one year
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Other taxation and social security
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Accruals and deferred income
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- 6 -
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BEXVILLE MANAGEMENT LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
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Creditors: Amounts falling due after more than one year
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Analysis of the maturity of loans is given below:
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Amounts falling due within one year
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Amounts falling due 1-2 years
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Amounts falling due 2-5 years
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Amounts falling due after more than 5 years
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Transactions with directors
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At the 31 December 2023 the director owed the company £49,394 (2022 - £48,050). Interest is charged at the HMRC official rate.
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The company was under the control of Mrs N Garton throughout the year and prior period by virtue of her 100% shareholding.
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