0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-02-01 Sage Accounts Production Advanced 2024 - FRS102_2024 450,000 75,000 525,000 525,000 450,000 xbrli:pure xbrli:shares iso4217:GBP 07520552 2023-02-01 2024-01-31 07520552 2024-01-31 07520552 2023-01-31 07520552 2022-02-01 2023-01-31 07520552 2023-01-31 07520552 2022-01-31 07520552 bus:Director1 2023-02-01 2024-01-31 07520552 core:WithinOneYear 2024-01-31 07520552 core:WithinOneYear 2023-01-31 07520552 core:ShareCapital 2024-01-31 07520552 core:ShareCapital 2023-01-31 07520552 core:OtherReservesSubtotal 2024-01-31 07520552 core:OtherReservesSubtotal 2023-01-31 07520552 core:RetainedEarningsAccumulatedLosses 2024-01-31 07520552 core:RetainedEarningsAccumulatedLosses 2023-01-31 07520552 core:LandBuildings 2024-01-31 07520552 core:LandBuildings 2023-01-31 07520552 core:LandBuildings 2023-01-31 07520552 core:LandBuildings 2023-02-01 2024-01-31 07520552 bus:SmallEntities 2023-02-01 2024-01-31 07520552 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 07520552 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 07520552 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 07520552 bus:FullAccounts 2023-02-01 2024-01-31 07520552 core:KeyManagementIndividualGroup1 2023-02-01 2024-01-31 07520552 core:KeyManagementIndividualGroup1 2024-01-31
COMPANY REGISTRATION NUMBER: 07520552
Bingham Property (Wentdale) Limited
Filleted Unaudited Financial Statements
For the year ended
31 January 2024
Bingham Property (Wentdale) Limited
Statement of Financial Position
31 January 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
5
525,000
450,000
Current assets
Debtors
6
2,906
1,325
Cash at bank and in hand
10,393
10,741
--------
--------
13,299
12,066
Creditors: amounts falling due within one year
7
188,792
188,538
----------
----------
Net current liabilities
175,493
176,472
----------
----------
Total assets less current liabilities
349,507
273,528
Provisions
Taxation including deferred tax
74,115
55,365
----------
----------
Net assets
275,392
218,163
----------
----------
Bingham Property (Wentdale) Limited
Statement of Financial Position (continued)
31 January 2024
2024
2023
Note
£
£
£
£
Capital and reserves
Called up share capital
5
5
Non distributable
222,344
166,094
Profit and loss account
53,043
52,064
----------
----------
Shareholders funds
275,392
218,163
----------
----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 28 October 2024 , and are signed on behalf of the board by:
Mr. M.G. Bingham
Director
Company registration number: 07520552
Bingham Property (Wentdale) Limited
Notes to the Financial Statements
Year ended 31 January 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 108 Park Drive, Campsall, Doncaster, DN6 9NX.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
(a) Basis of preparation
The financial statements have been prepared on the historical cost basis and investment properties are measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.
(b) Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered.
Income from rent received is recognised in accordance with terms and conditions of the relevant lease agreement.
(c) Going concern
The UK economy has been impacted by rising inflation, interest rates and energy costs, exacerbated by the war in Ukraine. All these matters have impacted the company's trading results to a greater or lesser extent. At the date of signing these financial statements, the directors have considered the effect of these matters on the company with the information available to it, and do not believe that it will affect the ability of the company to continue to trade for the foreseeable future. On this basis, the directors have prepared these financial statements on a going concern basis.
(d) Current & deferred tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
(e) Tangible assets
Tangible assets are initially recorded at cost/valuation, and subsequently stated at cost less any accumulated depreciation and impairment losses.
(f) Investment property
Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss. If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis.
(g) Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
(h) Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the year, including the directors amounted to 5 (2023: 5).
5. Tangible assets
Investment property
£
Cost or valuation
At 1 February 2023
450,000
Revaluations
75,000
----------
At 31 January 2024
525,000
----------
Depreciation
At 1 February 2023 and 31 January 2024
----------
Carrying amount
At 31 January 2024
525,000
----------
At 31 January 2023
450,000
----------
The freehold property held by the Company was valued at £525,000 in May 2023 by Roland Burkett Chartered Surveyors in their capacity as an independent valuer. In respect of investment property held at valuation, the aggregate cost that would have been recognised if the assets had been carried under the historical cost model is £228,542 (2023: £228,542).
6. Debtors
2024
2023
£
£
Trade debtors
2,906
1,325
-------
-------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
1,000
1,000
Accruals
1,055
1,025
Corporation tax
6,856
6,632
Director loan accounts
179,881
179,881
----------
----------
188,792
188,538
----------
----------
8. Related party transactions
During the year the directors made available loans to the company . The loans are interest free and repayable on demand. At the year end date the balance due to the directors totalled £ 179,881 (2023 : £179,881).