Registered number
11158034
Buttermilk Properties Limited
Filleted Accounts
31 March 2024
Buttermilk Properties Limited
Registered number: 11158034
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 2,496,852 2,499,765
Current assets
Debtors 4 170 11,711
Cash at bank and in hand 810 13,359
980 25,070
Creditors: amounts falling due within one year 5 (427,689) (451,435)
Net current liabilities (426,709) (426,365)
Total assets less current liabilities 2,070,143 2,073,400
Creditors: amounts falling due after more than one year 6 (644,325) (685,620)
Provisions for liabilities (243,197) (243,197)
Net assets 1,182,621 1,144,583
Capital and reserves
Called up share capital 100 100
Revaluation reserve 8 1,279,983 1,279,983
Profit and loss account (97,462) (135,500)
Shareholders' funds 1,182,621 1,144,583
-
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A Brown J Brown
Director
Approved by the board on 19 September 2024
Buttermilk Properties Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery 25% on reducing balance
Fixtures, fittings, tools and equipment 25% on reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company - -
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 April 2023 2,488,112 30,450 2,518,562
At 31 March 2024 2,488,112 30,450 2,518,562
Depreciation
At 1 April 2023 - 18,797 18,797
Charge for the year - 2,913 2,913
At 31 March 2024 - 21,710 21,710
Net book value
At 31 March 2024 2,488,112 8,740 2,496,852
At 31 March 2023 2,488,112 11,653 2,499,765
4 Debtors 2024 2023
£ £
Trade debtors 170 (1,287)
Other debtors - 12,998
170 11,711
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 84,672 82,536
Trade creditors - 95,933
Taxation and social security costs 14,882 18,088
Accruals 6,235 3,780
Other creditors 321,900 251,098
427,689 451,435
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 431,864 464,754
Other loans 12,461 20,866
Other creditors 200,000 200,000
644,325 685,620
7 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 568,157 568,157
The bank loan is secured by fixed and floating charges held by Barclays Bank plc dated 4 May 2018 and 20 March 2018.
8 Revaluation reserve 2024 2023
£ £
At 1 April 2023 1,279,983 1,279,983
At 31 March 2024 1,279,983 1,279,983
9 Related party transactions
A Brown and J Brown are directors and shareholders of Ecotech Solution Ltd.
Rent charge to Ecotech Solution Ltd £232,000. Purchase from Ecotech Solution Ltd £59,544.
Owing to Ecotech Solution Ltd at the balance sheet date: £170,848 (2023 £311,098).
10 Other information
Buttermilk Properties Limited is a private company limited by shares and incorporated in England. Its registered office is:
Nationwide Supplies Buttermilk Hall Farm
Baldock Road
Buntingford
Herts
SG9 9RH
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