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REGISTERED NUMBER: 10446659 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

BLENCORPORATION LTD

BLENCORPORATION LTD (REGISTERED NUMBER: 10446659)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BLENCORPORATION LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Ms N K Blencowe
M J C Blencowe





REGISTERED OFFICE: 10 Prince Albert St
10 Prince Albert St
Brighton
BN1 1HE





REGISTERED NUMBER: 10446659 (England and Wales)





ACCOUNTANTS: Galloways Accounting (Hove) Limited
The Old Casino
28 Fourth Avenue
Hove
East Sussex
BN3 2PJ

BLENCORPORATION LTD (REGISTERED NUMBER: 10446659)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 3 15,900,000 15,764,274

CURRENT ASSETS
Debtors 4 28,721 11,293
Cash at bank 1,157,826 876,430
1,186,547 887,723
CREDITORS
Amounts falling due within one year 5 8,895,682 8,502,991
NET CURRENT LIABILITIES (7,709,135 ) (7,615,268 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,190,865

8,149,006

CREDITORS
Amounts falling due after more than one
year

6

(5,762,280

)

(5,896,821

)

PROVISIONS FOR LIABILITIES (315,690 ) (275,315 )
NET ASSETS 2,112,895 1,976,870

CAPITAL AND RESERVES
Called up share capital 2 2
Non-distributable reserve 8 947,068 851,717
Retained earnings 1,165,825 1,125,151
2,112,895 1,976,870

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

BLENCORPORATION LTD (REGISTERED NUMBER: 10446659)

BALANCE SHEET - continued
31 MARCH 2024


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 11 October 2024 and were signed on its behalf by:




M J C Blencowe - Director



Ms N K Blencowe - Director


BLENCORPORATION LTD (REGISTERED NUMBER: 10446659)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. 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.

Turnover
Turnover represents the following types of income
- Rental income
- Income from the sale of properties

All income is recognised on a receivable basis.

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.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

3. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 15,764,274
Revaluations 135,726
At 31 March 2024 15,900,000
NET BOOK VALUE
At 31 March 2024 15,900,000
At 31 March 2023 15,764,274

BLENCORPORATION LTD (REGISTERED NUMBER: 10446659)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

3. INVESTMENT PROPERTY - continued

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2023 1,127,032
Valuation in 2024 135,726
Cost 14,637,242
15,900,000

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 12,150 9,453
Amounts owed by associates 8,156 1,220
Prepayments 8,415 620
28,721 11,293

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 7) 123,300 123,300
Trade creditors 15,159 1,605
Tax 13,558 129,076
VAT 31,279 34,925
Other creditors 178,898 42,004
Directors' loan accounts 8,359,541 7,900,371
Accruals and deferred income 167,448 174,750
Accrued expenses 6,499 96,960
8,895,682 8,502,991

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans (see note 7) 5,762,280 5,896,821

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr
by installments 5,762,280 5,896,821
5,762,280 5,896,821

7. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 123,300 123,300

Amounts falling due in more than five years:

BLENCORPORATION LTD (REGISTERED NUMBER: 10446659)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

7. LOANS - continued
2024 2023
£    £   
Amounts falling due in more than five years:
Repayable by instalments
Bank loans more 5 yr
by installments 5,762,280 5,896,821
5,762,280 5,896,821

8. RESERVES
Non-distribut
reserve
£   
At 1 April 2023 851,717
Non-distributable profits 95,351

At 31 March 2024 947,068

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year, M Blencowe increased his loan to the company. As at 31 March 2024, the company owed him £8,359,541 (2023: £7,900,371). This balance represented the maximum amount outstanding during the year and the loan is interest free and repayable on demand.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is M J C Blencowe.

This was by virtue of his 100% holding of the issued share capital.