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27/02/2023
29/02/2024
2024-02-29
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No description of principal activities is disclosed
2023-02-27
Sage Accounts Production 24.0 - FRS102_2024
xbrli:pure
xbrli:shares
iso4217:GBP
14690090
2023-02-27
2024-02-29
14690090
2024-02-29
14690090
2023-02-26
14690090
core:LandBuildings
core:OwnedOrFreeholdAssets
2023-02-27
2024-02-29
14690090
bus:Director1
2023-02-27
2024-02-29
14690090
core:LandBuildings
core:OwnedOrFreeholdAssets
2024-02-29
14690090
core:WithinOneYear
2024-02-29
14690090
core:ShareCapital
2024-02-29
14690090
core:RetainedEarningsAccumulatedLosses
2024-02-29
14690090
core:TaxLossesCarry-forwardsDeferredTax
2024-02-29
14690090
bus:Director3
2024-02-29
14690090
bus:Director3
2023-02-27
2024-02-29
14690090
bus:SmallEntities
2023-02-27
2024-02-29
14690090
bus:AuditExempt-NoAccountantsReport
2023-02-27
2024-02-29
14690090
bus:SmallCompaniesRegimeForAccounts
2023-02-27
2024-02-29
14690090
bus:PrivateLimitedCompanyLtd
2023-02-27
2024-02-29
14690090
bus:FullAccounts
2023-02-27
2024-02-29
14690090
core:EntitiesControlledByKeyManagementPersonnel
2023-02-27
2024-02-29
14690090
core:EntitiesControlledByKeyManagementPersonnel
2024-02-29
14690090
bus:Director1
2024-02-29
Company registration number:
14690090
BTL PARTNERS LIMITED
Unaudited filleted financial statements
29 February 2024
BTL PARTNERS LIMITED
Contents
Statement of financial position
Notes to the financial statements
BTL PARTNERS LIMITED
Statement of financial position
29 February 2024
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29/02/24 |
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Note |
£ |
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£ |
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|
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Fixed assets |
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Tangible assets |
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4 |
392,747 |
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_______ |
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|
|
|
|
|
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392,747 |
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Current assets |
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Debtors |
|
5 |
4,229 |
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|
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|
Cash at bank and in hand |
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4,347 |
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|
|
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|
_______ |
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8,576 |
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Creditors: amounts falling due |
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within one year |
|
6 |
(
402,882) |
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_______ |
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Net current liabilities |
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(
394,306) |
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_______ |
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Total assets less current liabilities |
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(
1,559) |
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_______ |
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Net liabilities |
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(
1,559) |
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_______ |
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Capital and reserves |
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Called up share capital |
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100 |
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Profit and loss account |
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(
1,659) |
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_______ |
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Shareholders deficit |
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(
1,559) |
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_______ |
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For the period ending 29 February 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 period 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 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.
These financial statements were approved by the
board of directors
and authorised for issue on
18 November 2024
, and are signed on behalf of the board by:
Dr Jagjit Singh Grewal
Director
Company registration number:
14690090
BTL PARTNERS LIMITED
Notes to the financial statements
Period ended 29 February 2024
1.
General information
The company is a private company limited by shares, registered in England. The address of the registered office is BTL Partners Limited, 165 Halifax Road, Brighouse, West Yorkshire, HD6 2EQ.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period.
When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
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Land and property |
- |
2 % |
straight line |
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|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Investment property
Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4.
Tangible assets
|
|
Land and property |
Total |
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|
£ |
£ |
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Cost |
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At 27 February 2023 |
- |
- |
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Additions |
392,747 |
392,747 |
|
|
|
|
|
|
|
_______ |
_______ |
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At 29 February 2024 |
392,747 |
392,747 |
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_______ |
_______ |
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Depreciation |
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At 27 February 2023 and 29 February 2024 |
- |
- |
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_______ |
_______ |
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Carrying amount |
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At 29 February 2024 |
392,747 |
392,747 |
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_______ |
_______ |
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Investment property
Included within the above is investment property measured at fair value as follows:
|
|
£ |
|
Additions |
392,747 |
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|
_______ |
|
At 29 February 2024 |
392,747 |
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|
_______ |
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The fair value of the investment property held by the company has been assessed by the company's directors' at the reporting date using their knowledge and experience. An independent valuation has not been carried out at the reporting date.
5.
Debtors
|
|
|
29/02/24 |
|
|
|
|
£ |
|
|
Other debtors |
|
4,229 |
|
|
|
|
_______ |
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|
|
|
|
|
6.
Creditors: amounts falling due within one year
|
|
|
29/02/24 |
|
|
|
|
£ |
|
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Other creditors |
|
402,882 |
|
|
|
|
_______ |
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|
7.
Deferred tax
The deferred tax included in the statement of financial position is as follows:
|
|
|
29/02/24 |
|
|
|
|
£ |
|
|
Included in debtors (note 5) |
|
389 |
|
|
|
|
_______ |
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The deferred tax account consists of the tax effect of timing differences in respect of:
|
|
|
29/02/24 |
|
|
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|
£ |
|
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Unused tax losses |
|
389 |
|
|
|
|
_______ |
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8.
Directors advances, credits and guarantees
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During the period the directors entered into the following advances and credits with the company: |
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Period ended 29/02/24 |
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Balance brought forward |
Advances /(credits) to the directors |
Balance o/standing |
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|
£ |
£ |
£ |
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Directors' Loans |
- |
(
401,498) |
(
401,498) |
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|
_______ |
_______ |
_______ |
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During the period the company had outstanding loans from the company's directors'. The loans are unsecured, interest free and repayable on demand.
9.
Related party transactions
During the period the company entered into the following transactions with related parties:
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Transaction value |
Balance owed by /(owed to) |
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Period |
Period |
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|
ended |
ended |
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|
29/02/24 |
29/02/24 |
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|
£ |
£ |
|
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|
GRE Investments Limited (Co No. 10906343) |
(
754) |
(
754) |
|
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|
_______ |
_______ |
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The above party is related to the company due the directors' interest in the related party. The above loan made to the company is unsecured, interest free and are repayable on demand.