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REGISTERED NUMBER: 07549082 (England and Wales)















BANOVALLUM PROPERTIES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024






BANOVALLUM PROPERTIES LIMITED (REGISTERED NUMBER: 07549082)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 5

Accountants' Report 6

BANOVALLUM PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: A D Hare
Mrs N J Hyde





REGISTERED OFFICE: 18 Northgate
Sleaford
Lincolnshire
NG34 7BJ





BUSINESS ADDRESS: 76 Station Road
Ruskington
Sleaford
Lincolnshire
NG34 9BZ





REGISTERED NUMBER: 07549082 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
18 Northgate
Sleaford
Lincolnshire
NG34 7BJ

BANOVALLUM PROPERTIES LIMITED (REGISTERED NUMBER: 07549082)

STATEMENT OF FINANCIAL POSITION
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 611,866 611,866

CURRENT ASSETS
Debtors 5 1,338 1,102
Cash at bank 2,062 3,661
3,400 4,763
CREDITORS
Amounts falling due within one year 6 299,157 315,325
NET CURRENT LIABILITIES (295,757 ) (310,562 )
TOTAL ASSETS LESS CURRENT LIABILITIES 316,109 301,304

CREDITORS
Amounts falling due after more than one year 7 - (9,137 )

PROVISIONS FOR LIABILITIES (24,742 ) (24,742 )
NET ASSETS 291,367 267,425

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings 10 291,365 267,423
SHAREHOLDERS' FUNDS 291,367 267,425

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

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 22 October 2024 and were signed on its behalf by:





A D Hare - Director


BANOVALLUM PROPERTIES LIMITED (REGISTERED NUMBER: 07549082)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

Banovallum Properties 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents rents due for the period and is measured at the fair value of the consideration received or receivable, excluding discounts and rebates.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023
and 30 June 2024 611,866
NET BOOK VALUE
At 30 June 2024 611,866
At 30 June 2023 611,866

BANOVALLUM PROPERTIES LIMITED (REGISTERED NUMBER: 07549082)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

4. INVESTMENT PROPERTY - continued

Fair value at 30 June 2024 is represented by:
£   
Valuation in 2012 26,025
Valuation in 2013 15,000
Valuation in 2016 50,000
Valuation in 2017 20,000
Valuation in 2018 (10,000 )
Valuation in 2019 22,281
Cost 488,560
611,866

If investment properties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 488,560 488,560

Investment properties were valued on an open market basis on 30 June 2019 by the directors .

The value of the investment property has not moved materially between the valuation date and the financial reporting date.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 1,338 1,102

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 9,903 4,392
Taxation and social security 6,081 5,794
Other creditors 283,173 305,139
299,157 315,325

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 9,137

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 9,903 13,529

The company's mortgages are secured on the property to which they relate.

BANOVALLUM PROPERTIES LIMITED (REGISTERED NUMBER: 07549082)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary 1 2 2

10. RESERVES

Within reserves there are non-distributable reserves of £98,564 (2023: £98,564) in relation to investment property revaluations.

11. RELATED PARTY DISCLOSURES

At the balance sheet date, an interest free loan of £279,320 was owed to Edwin E. Hare & Co. (Seeds) Limited, an associated company.

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
BANOVALLUM PROPERTIES 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 Banovallum Properties Limited for the year ended 30 June 2024 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.

This report is made solely to the Board of Directors of Banovallum Properties 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 Banovallum Properties Limited and state those matters that we have agreed to state to the Board of Directors of Banovallum Properties Limited, as a body, in this report. 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 Banovallum Properties 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 Banovallum Properties Limited. You consider that Banovallum Properties 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 Banovallum Properties 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.






Duncan & Toplis Limited
18 Northgate
Sleaford
Lincolnshire
NG34 7BJ


14 October 2024