Registered number
10937374
Bostan Property Solutions Ltd
Unaudited Filleted Accounts
31 August 2023
Bostan Property Solutions Ltd
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Bostan Property Solutions Ltd for the year ended 31 August 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Bostan Property Solutions Ltd for the year ended 31 August 2023 which comprise of the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity 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 Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at
www.icaew.com/en/members/regulations-standards-and-guidance
Our work has been undertaken in accordance with ICAEW Technical Release 07/16 AAF.
Pitts & SeeUs
Studio 6
6 Hornsey Street
London
N7 8GR
30 September 2024
Bostan Property Solutions Ltd
Registered number: 10937374
Balance Sheet
as at 31 August 2023
Notes 2023 2022
£ £
Fixed assets
Investments 3 485,735 484,385
Current assets
Cash at bank and in hand 3,456 12,248
Creditors: amounts falling due within one year 4 (108,020) (113,042)
Net current liabilities (104,564) (100,794)
Total assets less current liabilities 381,171 383,591
Creditors: amounts falling due after more than one year 5 (347,232) (354,912)
Net assets 33,939 28,679
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 32,939 27,679
Shareholders' funds 33,939 28,679
The director is 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 director acknowledges his 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.
S Bostan
Director
Approved by the board on 30 September 2024
Bostan Property Solutions Ltd
Statement of Changes in Equity
for the year ended 31 August 2023
Share Share Re- Profit Total
capital premium valuation and loss
reserve account
£ £ £ £ £
At 1 September 2021 1,000 - - 11,047 12,047
Profit for the financial year 16,632 16,632
At 31 August 2022 1,000 - - 27,679 28,679
At 1 September 2022 1,000 - - 27,679 28,679
Profit for the financial year 5,260 5,260
At 31 August 2023 1,000 - - 32,939 33,939
Bostan Property Solutions Ltd
Notes to the Accounts
for the year ended 31 August 2023
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.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Investments
Other
investments
£
Cost
At 1 September 2022 484,385
Additions 1,350
At 31 August 2023 485,735
4 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 33,562 33,562
Amounts owed to related company 20,150 25,000
Taxation and social security costs 6,447 5,213
Other creditors 47,861 49,267
108,020 113,042
5 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 347,232 354,912
6 Loans 2023 2022
£ £
Creditors include:
Secured bank loans 380,794 388,474
The bank loans are secured by way of fixed charge over the investment properties.
7 Other information
Bostan Property Solutions Ltd is a private company limited by shares and incorporated in England. Its registered office is:
464 Moseley Road
Birmingham
B12 9AN
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