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Registration number: 09434090

BWD Properties Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

BWD Properties Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

BWD Properties Ltd

Company Information

Director

Ms T Stoneham

Registered office

277 - 279 Chiswick High Road
London
W4 4PU

Accountants

Flintham Mackenzie Limited
Chartered Accountants
277 - 279 Chiswick High Road
London
W4 4PU

 

BWD Properties Ltd

(Registration number: 09434090)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

16,638,239

-

Current assets

 

Debtors

5

2,188,433

2,863,733

Cash at bank and in hand

 

2,567,442

360,422

 

4,755,875

3,224,155

Creditors: Amounts falling due within one year

6

(21,657,055)

(3,200,641)

Net current (liabilities)/assets

 

(16,901,180)

23,514

Total assets less current liabilities

 

(262,941)

23,514

Creditors: Amounts falling due after more than one year

6

(38,465)

-

Net (liabilities)/assets

 

(301,406)

23,514

Capital and reserves

 

Called up share capital

1

1

Retained earnings

(301,407)

23,513

Shareholders' (deficit)/funds

 

(301,406)

23,514

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 her 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 31 October 2024
 

.........................................
Ms T Stoneham
Director

 

BWD Properties 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 and Wales.

The address of its registered office is:
277 - 279 Chiswick High Road
London
W4 4PU

These financial statements were authorised for issue by the director on 31 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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

BWD Properties Ltd

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

Tax

The tax expense for the period comprises 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.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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.

 

BWD Properties Ltd

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

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2022 - 0).

4

Investment properties

2023
£

Additions

16,638,239

At 31 December

16,638,239

There has been no valuation of investment property by an independent valuer.

5

Debtors

Current

Note

2023
£

2022
£

Amounts owed by related parties

12,443

-

Other debtors

 

2,175,990

2,863,733

   

2,188,433

2,863,733

 

BWD Properties Ltd

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

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

7

4,725,838

-

Amounts owed to group undertakings and undertakings in which the company has a participating interest

-

1,176,747

Taxation and social security

 

-

5,191

Accruals and deferred income

 

5,000

5,000

Other creditors

 

16,926,217

2,013,703

 

21,657,055

3,200,641

Creditors: amounts falling due after more than one year

2023
£

2022
£

Due after one year

Other non-current financial liabilities

38,465

-

7

Loans and borrowings

Current loans and borrowings

2023
£

2022
£

Bank borrowings

(732,822)

-

Bank overdrafts

5,458,660

-

4,725,838

-