0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 123,875 123,875 123,875 xbrli:pure xbrli:shares iso4217:GBP 08168116 2023-01-01 2023-12-31 08168116 2023-12-31 08168116 2022-12-31 08168116 2022-01-01 2022-12-31 08168116 2022-12-31 08168116 2021-12-31 08168116 bus:Director1 2023-01-01 2023-12-31 08168116 core:WithinOneYear 2023-12-31 08168116 core:WithinOneYear 2022-12-31 08168116 core:AfterOneYear 2023-12-31 08168116 core:AfterOneYear 2022-12-31 08168116 core:ShareCapital 2023-12-31 08168116 core:ShareCapital 2022-12-31 08168116 core:RetainedEarningsAccumulatedLosses 2023-12-31 08168116 core:RetainedEarningsAccumulatedLosses 2022-12-31 08168116 core:LandBuildings 2023-12-31 08168116 core:LandBuildings 2022-12-31 08168116 bus:SmallEntities 2023-01-01 2023-12-31 08168116 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 08168116 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 08168116 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 08168116 bus:FullAccounts 2023-01-01 2023-12-31
COMPANY REGISTRATION NUMBER: 08168116
BWC Properties Limited
Filleted Unaudited Financial Statements
31 December 2023
BWC Properties Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
4
123,875
123,875
Current assets
Debtors
5
1,130
980
Cash at bank and in hand
2,669
882
-------
-------
3,799
1,862
Creditors: amounts falling due within one year
6
37,236
34,545
--------
--------
Net current liabilities
33,437
32,683
---------
---------
Total assets less current liabilities
90,438
91,192
Creditors: amounts falling due after more than one year
7
25,857
33,018
--------
--------
Net assets
64,581
58,174
--------
--------
BWC Properties Limited
Statement of Financial Position (continued)
31 December 2023
2023
2022
Note
£
£
£
Capital and reserves
Called up share capital
300
300
Profit and loss account
64,281
57,874
--------
--------
Shareholders funds
64,581
58,174
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 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:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 23 September 2024 , and are signed on behalf of the board by:
Mr I M Drinkwater
Director
Company registration number: 08168116
BWC Properties Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 1, Wharfedale Business Park, Shetcliffe Lane, Bradford, BD4 9RW.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The Directors confirm that, after reviewing expenditure commitments, expected cash flows and borrowing facilities, they have a reasonable expectation that the Company has adequate resources to continue in operational existence for the next financial year and the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
4. Tangible assets
Land and buildings
£
Cost
At 1 January 2023 and 31 December 2023
123,875
---------
Depreciation
At 1 January 2023 and 31 December 2023
---------
Carrying amount
At 31 December 2023
123,875
---------
At 31 December 2022
123,875
---------
5. Debtors
2023
2022
£
£
Trade debtors
571
461
Other debtors
559
519
-------
----
1,130
980
-------
----
6. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
10,200
10,200
Trade creditors
609
566
Corporation tax
1,503
1,281
Social security and other taxes
611
428
Other creditors
4,450
3,450
Other creditors
19,863
18,620
--------
--------
37,236
34,545
--------
--------
7. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
25,857
33,018
--------
--------
8. Directors' advances, credits and guarantees
The directors loan account remained in credit throughout the current year. There were no guarantees in the year.
9. Related party transactions
The company was under the control of the directors throughout the period. No other transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 102.