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REGISTERED NUMBER: 06069091 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Balgores Lettings Limited

Balgores Lettings Limited (Registered number: 06069091)






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

Chartered Certified Accountants' Report 8

Balgores Lettings Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: P A Austin
M Gibbon





SECRETARY: M Gibbon





REGISTERED OFFICE: 10 High Street
Wickford
Essex
SS12 9AZ





REGISTERED NUMBER: 06069091 (England and Wales)





ACCOUNTANTS: Edison and Co
Chartered Certified Accountants
29 Herbert Road
Hornchurch
Essex
RM11 3LH

Balgores Lettings Limited (Registered number: 06069091)

Statement of Financial Position
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 389,966 428,888
Tangible assets 5 21,051 27,351
Investments 6 357,356 361,120
768,373 817,359

CURRENT ASSETS
Debtors 7 417,441 426,703
Cash at bank and in hand 2,872,584 2,187,845
3,290,025 2,614,548
CREDITORS
Amounts falling due within one year 8 3,572,967 3,069,446
NET CURRENT LIABILITIES (282,942 ) (454,898 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

485,431

362,461

CAPITAL AND RESERVES
Called up share capital 9 75 75
Capital redemption reserve 10 25 25
Retained earnings 10 485,331 362,361
SHAREHOLDERS' FUNDS 485,431 362,461

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.

Balgores Lettings Limited (Registered number: 06069091)

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 25 September 2024 and were signed on its behalf by:





M Gibbon - Director


Balgores Lettings Limited (Registered number: 06069091)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Balgores Lettings 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.

The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future.The validity of this assumption depends on the continued support of the directors and creditors. The financial statements do not include any adjustments that would result if this support was not continued

Preparation of consolidated financial statements
The financial statements contain information about Balgores Lettings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover represents net invoiced sales of services, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of twenty five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 38 (2022 - 36 ) .

Balgores Lettings Limited (Registered number: 06069091)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023 430,610
Reclassification/transfer (37,500 )
At 31 December 2023 393,110
AMORTISATION
At 1 January 2023 1,722
Charge for year 1,422
At 31 December 2023 3,144
NET BOOK VALUE
At 31 December 2023 389,966
At 31 December 2022 428,888

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 January 2023 168,371
Additions 649
At 31 December 2023 169,020
DEPRECIATION
At 1 January 2023 141,020
Charge for year 6,949
At 31 December 2023 147,969
NET BOOK VALUE
At 31 December 2023 21,051
At 31 December 2022 27,351

Balgores Lettings Limited (Registered number: 06069091)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023 361,120
Reclassification/transfer (3,764 )
At 31 December 2023 357,356
NET BOOK VALUE
At 31 December 2023 357,356
At 31 December 2022 361,120

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 345,863 320,511
Other debtors 71,578 106,192
417,441 426,703

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 453,465 493,247
Amounts owed to group undertakings 43,230 55,581
Taxation and social security 233,948 175,312
Other creditors 2,842,324 2,345,306
3,572,967 3,069,446

Client monies relating to rent deposits and other amounts due to tenants and landlords are included in other creditors and are held in designated bank account.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
75 Ordinary £1 75 75

Balgores Lettings Limited (Registered number: 06069091)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

10. RESERVES
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1 January 2023 362,361 25 362,386
Profit for the year 212,970 212,970
Dividends (90,000 ) (90,000 )
At 31 December 2023 485,331 25 485,356

Chartered Certified Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Balgores Lettings Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Balgores Lettings Limited for the year ended 31 December 2023 which comprise the Income Statement, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Balgores Lettings Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Balgores Lettings Limited and state those matters that we have agreed to state to the Board of Directors of Balgores Lettings Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Balgores Lettings Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Balgores Lettings Limited. You consider that Balgores Lettings Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Balgores Lettings Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Edison and Co
Chartered Certified Accountants
29 Herbert Road
Hornchurch
Essex
RM11 3LH


25 September 2024