1 March 2023 false No description of principal activity Taxfiler 2024.6 10597790business:PrivateLimitedCompanyLtd2023-03-012024-02-29 105977902023-02-28 105977902023-03-012024-02-29 10597790business:AuditExemptWithAccountantsReport2023-03-012024-02-29 10597790business:AbridgedAccounts2023-03-012024-02-29 105977902024-02-29 10597790business:Director12023-03-012024-02-29 10597790business:RegisteredOffice2023-03-012024-02-29 105977902023-02-28 10597790core:WithinOneYear2024-02-29 10597790core:WithinOneYear2023-02-28 10597790core:AfterOneYear2024-02-29 10597790core:AfterOneYear2023-02-28 10597790core:ShareCapitalcore:PreviouslyStatedAmount2024-02-29 10597790core:ShareCapitalcore:PreviouslyStatedAmount2023-02-28 10597790core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-02-29 10597790core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-02-28 10597790core:PreviouslyStatedAmount2024-02-29 10597790core:PreviouslyStatedAmount2023-02-28 10597790business:SmallEntities2023-03-012024-02-29 10597790countries:EnglandWales2023-03-012024-02-29 10597790core:FurnitureFittings2023-03-012024-02-29 10597790business:OrdinaryShareClass12023-03-012024-02-29 10597790business:OrdinaryShareClass12022-03-012023-02-28 105977902022-03-012023-02-28 iso4217:GBP xbrli:shares xbrli:pure
Company Registration No. 10597790 (England and Wales)
Binnel Bay Ltd Unaudited accounts for the year ended 29 February 2024
Binnel Bay Ltd Unaudited accounts Contents
Page
- 2 -
Binnel Bay Ltd Company Information for the year ended 29 February 2024
Director
Mr David Kell
Company Number
10597790 (England and Wales)
Registered Office
Old Park House Old Park Road St. Lawrence Ventnor Isle of Wight PO38 1XS England
Accountants
Martin Bridges & Co 39 High Street Shanklin Isle of Wight PO37 6JJ
- 3 -
Binnel Bay Ltd Statement of financial position as at 29 February 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
350,000 
350,000 
Tangible assets
512,660 
520,041 
862,660 
870,041 
Current assets
Cash at bank and in hand
676 
5,513 
Creditors: amounts falling due within one year
(32,115)
(20,236)
Net current liabilities
(31,439)
(14,723)
Total assets less current liabilities
831,221 
855,318 
Creditors: amounts falling due after more than one year
(1,048,585)
(1,045,528)
Net liabilities
(217,364)
(190,210)
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
(217,464)
(190,310)
Shareholders' funds
(217,364)
(190,210)
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 21 November 2024 and were signed on its behalf by
Mr David Kell Director Company Registration No. 10597790
- 4 -
Binnel Bay Ltd Notes to the Accounts for the year ended 29 February 2024
1
Statutory information
Binnel Bay Ltd is a private company, limited by shares, registered in England and Wales, registration number 10597790. The registered office is Old Park House, Old Park Road, St. Lawrence, Ventnor, Isle of Wight, PO38 1XS, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20 %
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Total 
£ 
Cost
At 1 March 2023
350,000 
At 29 February 2024
350,000 
Amortisation
At 1 March 2023
- 
At 29 February 2024
- 
Net book value
At 29 February 2024
350,000 
At 28 February 2023
350,000 
- 5 -
Binnel Bay Ltd Notes to the Accounts for the year ended 29 February 2024
5
Tangible fixed assets
Total 
£ 
Cost or valuation
At 1 March 2023
603,153 
At 29 February 2024
603,153 
Depreciation
At 1 March 2023
83,112 
Charge for the year
7,381 
At 29 February 2024
90,493 
Net book value
At 29 February 2024
512,660 
At 28 February 2023
520,041 
6
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
7
Transactions with related parties
The Company sold part of the freehold property comprising the 19th Century house at open market value on the 30th March 2021.
8
Average number of employees
During the year the average number of employees was 2 (2023: 2).
- 6 -