REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
10 NOVEMBER 2022 TO 31 DECEMBER 2023 |
FOR |
BGAM STONES LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
10 NOVEMBER 2022 TO 31 DECEMBER 2023 |
FOR |
BGAM STONES LIMITED |
BGAM STONES LIMITED (REGISTERED NUMBER: 14476615) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 10 NOVEMBER 2022 TO 31 DECEMBER 2023 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Chartered Accountants' Report | 6 |
BGAM STONES LIMITED |
COMPANY INFORMATION |
FOR THE PERIOD 10 NOVEMBER 2022 TO 31 DECEMBER 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Rutland House |
90-92 Baxter Avenue |
Southend on Sea |
Essex |
SS2 6HZ |
BGAM STONES LIMITED (REGISTERED NUMBER: 14476615) |
ABRIDGED BALANCE SHEET |
31 DECEMBER 2023 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT LIABILITIES | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve | 6 |
Retained earnings | ( |
) |
SHAREHOLDERS' FUNDS |
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. |
BGAM STONES LIMITED (REGISTERED NUMBER: 14476615) |
ABRIDGED BALANCE SHEET - continued |
31 DECEMBER 2023 |
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 |
BGAM STONES LIMITED (REGISTERED NUMBER: 14476615) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 10 NOVEMBER 2022 TO 31 DECEMBER 2023 |
1. | STATUTORY INFORMATION |
BGAM Stones Limited is a |
The company trades from its owned property in Salisbury, Wiltshire. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents the income receivable by the company from its trading activities as a hotel. Sales encompass room hire, food and beverage income and all other associated ancillary hotel and guest services. Turnover is recognised in the period in which the physical goods are sold, as services are performed or otherwise as entitlement accrues to the company. |
Tangible fixed assets |
Plant and machinery | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Freehold property |
Freehold property is carried at its most recent valuation. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST OR VALUATION |
Additions |
Revaluations |
At 31 December 2023 |
DEPRECIATION |
Charge for period |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
BGAM STONES LIMITED (REGISTERED NUMBER: 14476615) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 10 NOVEMBER 2022 TO 31 DECEMBER 2023 |
4. | TANGIBLE FIXED ASSETS - continued |
Cost or valuation at 31 December 2023 is represented by: |
Freehold | Plant and |
property | machinery | Totals |
£ | £ | £ |
Valuation in 2023 | 2,769,482 | - | 2,769,482 |
Cost | 1,430,518 | 71,802 | 1,502,320 |
4,200,000 | 71,802 | 4,271,802 |
Freehold property was valued by Savills (UK) Limited on 4 August 2023. |
5. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
£ |
Between one and five years |
6. | RESERVES |
Revaluation |
reserve |
£ |
Fair value movement | 2,077,111 |
At 31 December 2023 |
7. | PENSION COMMITMENTS |
The company operates a defined contribution scheme in respect of its eligible employees. During the year, total contributions to this scheme amounted to £5,136. At the balance sheet date the total contributions outstanding amounted to £52. |
8. | RELATED PARTY DISCLOSURES |
The company works closely with a portfolio of five other hotels and their respective companies, all under similar (but not identical) control. Further, the whole portfolio is managed by BGAM Limited, a hotel management enterprise, again with ownership similarities and common directors. These close working relationships enables all businesses to access necessary trading expertise when needed, negotiate beneficial relationships with suppliers and leverage various economies of scale for mutual benefit. |
During the period, the company incurred management costs totalling £25,156 to BGAM Limited. |
In aggregate at the balance sheet date, the company owed £1,638,856 to these associated companies. |
During the year the company's total compensation to key management personnel (including directors) amounted to £93,346. |
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
BGAM STONES 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 Balance Sheet. 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 BGAM Stones Limited for the period ended 31 December 2023 which comprise the Income Statement, Abridged Balance Sheet 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 (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the Board of Directors of BGAM Stones 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 BGAM Stones Limited and state those matters that we have agreed to state to the Board of Directors of BGAM Stones Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than BGAM Stones Limited and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that BGAM Stones 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 BGAM Stones Limited. You consider that BGAM Stones Limited is exempt from the statutory audit requirement for the period. |
We have not been instructed to carry out an audit or a review of the financial statements of BGAM Stones 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. |
Chartered Accountants |
Rutland House |
90-92 Baxter Avenue |
Southend on Sea |
Essex |
SS2 6HZ |