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Registration number: 07687356

BBL Property Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2023

 

BBL Property Ltd

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Profit and Loss Account

4

Statement of Comprehensive Income

5

Balance Sheet

6

Statement of Changes in Equity

7

Notes to the Unaudited Financial Statements

8 to 15

 

BBL Property Ltd

Company Information

Director

Mr Greg Mark Coyle

Registered office

15 Clements Court
Clements Lane
Ilford
Essex
IG1 2QY

Accountants

Paul Winston Limited
Chartered Accountants
Silver Rose Unit 21
East Lodge Village
East Lodge Lane
Enfield
EN2 8AS

 

BBL Property Ltd

Director's Report for the Year Ended 31 December 2023

The director presents his report and the financial statements for the year ended 31 December 2023.

Director of the company

The director who held office during the year was as follows:

Mr Greg Mark Coyle

Principal activity

The principal activity of the company is recruitment

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 2 October 2024
 

.........................................
Mr Greg Mark Coyle
Director

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
BBL Property Ltd
for the Year Ended 31 December 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of BBL Property Ltd for the year ended 31 December 2023 as set out on pages 4 to 15 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of BBL Property Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of BBL Property Ltd and state those matters that we have agreed to state to the Board of Directors of BBL Property Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than BBL Property Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that BBL Property Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of BBL Property Ltd. You consider that BBL Property Ltd 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 accounts of BBL Property Ltd. 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 accounts.

......................................

Paul Winston Limited
Chartered Accountants
Silver Rose Unit 21
East Lodge Village
East Lodge Lane
Enfield
EN2 8AS

2 October 2024

 

BBL Property Ltd

Profit and Loss Account for the Year Ended 31 December 2023

Note

2023
£

2022
£

Turnover

 

427,769

477,209

Cost of sales

 

(65,863)

(91,830)

Gross profit

 

361,906

385,379

Administrative expenses

 

(355,415)

(361,878)

Operating profit

 

6,491

23,501

Interest payable and similar expenses

 

(3,156)

(500)

Profit before tax

3,335

23,001

Tax on profit

 

(634)

(4,470)

Profit for the financial year

 

2,701

18,531

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

BBL Property Ltd

Statement of Comprehensive Income for the Year Ended 31 December 2023

2023
£

2022
£

Profit for the year

2,701

18,531

Total comprehensive income for the year

2,701

18,531

 

BBL Property Ltd

(Registration number: 07687356)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Current assets

 

Debtors

4

239,383

211,828

Cash at bank and in hand

 

-

6,905

 

239,383

218,733

Creditors: Amounts falling due within one year

5

(207,997)

(130,688)

Total assets less current liabilities

 

31,386

88,045

Creditors: Amounts falling due after more than one year

5

(14,380)

(47,190)

Net assets

 

17,006

40,855

capital and reserves

 

Called up share capital

6

100

100

Profit and loss account

16,906

40,755

Shareholders' funds

 

17,006

40,855

For the financial 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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 2 October 2024
 

.........................................
Mr Greg Mark Coyle
Director

 

BBL Property Ltd

Statement of Changes in Equity for the Year Ended 31 December 2023

Share capital
£

Retained earnings
£

Total
£

At 1 January 2023

100

40,755

40,855

Profit for the year

-

2,701

2,701

Dividends

-

(26,550)

(26,550)

At 31 December 2023

100

16,906

17,006

Share capital
£

Retained earnings
£

Total
£

At 1 January 2022

100

52,224

52,324

Profit for the year

-

18,531

18,531

Dividends

-

(30,000)

(30,000)

At 31 December 2022

100

40,755

40,855

 

BBL Property Ltd

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

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
15 Clements Court
Clements Lane
Ilford
Essex
IG1 2QY
United Kingdom

These financial statements were authorised for issue by the director on 2 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

BBL Property Ltd

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

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

BBL Property Ltd

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

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 7 (2022 - 6).

 

BBL Property Ltd

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

4

debtors

Current

2023
£

2022
£

Trade debtors

158,294

113,989

Other debtors

81,089

97,839

 

239,383

211,828

 

BBL Property Ltd

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

5

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

7

126,319

47,514

trade creditors

 

25,734

27,255

Taxation and social security

 

38,273

24,736

Other creditors

 

17,671

31,183

 

207,997

130,688

Due after one year

 

Loans and borrowings

7

14,380

47,190

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7

14,380

47,190

6

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary J of £1 each

51

51

51

51

Ordinary G of £1 each

30

30

30

30

Ordinary L of £1 each

19

19

19

19

100

100

100

100

7

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

14,380

47,190

Current loans and borrowings

 

BBL Property Ltd

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

2023
£

2022
£

Bank overdrafts

59,453

-

Other borrowings

66,866

47,514

126,319

47,514

8

Dividends

Interim dividends paid

2023
£

2022
£

Interim dividend of £Nil (2022 - £300.00) per each Ordinary J

-

15,300

Interim dividend of £885.00 (2022 - £300.00) per each Ordinary G

26,550

9,000

Interim dividend of £Nil (2022 - £300.00) per each Ordinary L

-

5,700

26,550

30,000

 

BBL Property Ltd

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

9

Related party transactions

 

BBL Property Ltd

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

Director's remuneration

The director's remuneration for the year was as follows:

2023
£

2022
£

Remuneration

23,000

25,000