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REGISTERED NUMBER: 05545877















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

BILLING PROPERTIES NO 2 LIMITED

BILLING PROPERTIES NO 2 LIMITED (REGISTERED NUMBER: 05545877)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


BILLING PROPERTIES NO 2 LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: S Mackaness
S M Roworth





SECRETARY: S M Roworth





REGISTERED OFFICE: Office 5
Olney House
17 High Street
Olney
Buckinghamshire
MK46 4EB





REGISTERED NUMBER: 05545877





ACCOUNTANTS: Shaw Gibbs Limited
Eagle House
28 Billing Road
Northampton
NN1 5AJ

BILLING PROPERTIES NO 2 LIMITED (REGISTERED NUMBER: 05545877)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,570 17,205
Investments 5 1,308,897 1,451,252
Investment property 6 2,242,621 2,242,621
3,558,088 3,711,078

CURRENT ASSETS
Debtors 7 13,835 19,057
Cash at bank 26,049 144,453
39,884 163,510
CREDITORS
Amounts falling due within one year 8 27,066 85,919
NET CURRENT ASSETS 12,818 77,591
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,570,906

3,788,669

PROVISIONS FOR LIABILITIES 7,518 31,492
NET ASSETS 3,563,388 3,757,177

CAPITAL AND RESERVES
Called up share capital 169 169
Share premium 1,992,661 1,992,661
Fair value reserve 32,048 134,256
Retained earnings 1,538,510 1,630,091
SHAREHOLDERS' FUNDS 3,563,388 3,757,177

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

BILLING PROPERTIES NO 2 LIMITED (REGISTERED NUMBER: 05545877)

STATEMENT OF FINANCIAL POSITION - continued
31 DECEMBER 2023


The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 4 September 2024 and were signed on its behalf by:




S Mackaness - Director



S M Roworth - Director


BILLING PROPERTIES NO 2 LIMITED (REGISTERED NUMBER: 05545877)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Billing Properties No 2 Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Significant judgements and estimates
The preparation of financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the company accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed within the individual accounting policies below.

Turnover
Turnover represents amounts receivable from rental income, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

Fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Where parts of an item of property, plant and equipment have different useful lives, they are accounted for as separate items of property, plant and equipment.

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The directors are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The directors consider that the individual carrying values of assets are supportable by their value in use.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

BILLING PROPERTIES NO 2 LIMITED (REGISTERED NUMBER: 05545877)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the statement of comprehensive income under administrative expenses.

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 entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Investments
Listed investments are stated at fair value at the balance sheet date, with any changes during the year going to the profit and loss account.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

BILLING PROPERTIES NO 2 LIMITED (REGISTERED NUMBER: 05545877)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


4. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 38,705 8,279 46,984
DEPRECIATION
At 1 January 2023 22,578 7,201 29,779
Charge for year 9,676 959 10,635
At 31 December 2023 32,254 8,160 40,414
NET BOOK VALUE
At 31 December 2023 6,451 119 6,570
At 31 December 2022 16,127 1,078 17,205

5. FIXED ASSET INVESTMENTS
Listed
investments
£   
COST OR VALUATION
At 1 January 2023 1,451,252
Additions 32,397
Disposals (50,000 )
Revaluations (124,752 )
At 31 December 2023 1,308,897
NET BOOK VALUE
At 31 December 2023 1,308,897
At 31 December 2022 1,451,252

Cost or valuation at 31 December 2023 is represented by:

Listed
investments
£   
Valuation in 2023 (126,183 )
Valuation in 2022 (5,397 )
Valuation in 2021 120,467
Valuation in 2020 50,679
Cost 1,269,331
1,308,897

BILLING PROPERTIES NO 2 LIMITED (REGISTERED NUMBER: 05545877)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 2,242,621
NET BOOK VALUE
At 31 December 2023 2,242,621
At 31 December 2022 2,242,621

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 7,950
Other debtors 258 258
Directors' current accounts 12,052 9,801
Prepayments and accrued income 1,525 1,048
13,835 19,057

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 29 460
Social security and other taxes 3,970 3,770
VAT 3,167 1,253
Other creditors 135 7,950
Accruals and deferred income 19,765 72,486
27,066 85,919

9. TRANSACTIONS WITH DIRECTORS

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
S Mackaness
Balance outstanding at start of year 9,801 7,831
Amounts advanced 14,052 9,801
Amounts repaid (11,801 ) (7,831 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 12,052 9,801

The loan to S Mackaness has been repaid to the company since the year end and no interest was charged on the loan, due to its short term.