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REGISTERED NUMBER: 13287022 (England and Wales)















BALKERNE GATE PROPERTIES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MARCH 2024






BALKERNE GATE PROPERTIES LIMITED (REGISTERED NUMBER: 13287022)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


BALKERNE GATE PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr D Syrett
Mr J Runicles





REGISTERED OFFICE: Town Wall House
Balkerne Hill
Colchester
Essex
CO3 3AD





REGISTERED NUMBER: 13287022 (England and Wales)

BALKERNE GATE PROPERTIES LIMITED (REGISTERED NUMBER: 13287022)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £   
FIXED ASSETS
Investment property 4 2,050,000 2,050,000

CURRENT ASSETS
Debtors 5 23,789 2,630
Cash at bank 14,006 201,621
37,795 204,251
CREDITORS
Amounts falling due within one year 6 (1,781,958 ) (1,434,541 )
NET CURRENT LIABILITIES (1,744,163 ) (1,230,290 )
TOTAL ASSETS LESS CURRENT LIABILITIES 305,837 819,710

CREDITORS
Amounts falling due after more than one
year

7

-

(500,000

)

PROVISIONS FOR LIABILITIES (74,879 ) (60,460 )
NET ASSETS 230,958 259,250

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 8 224,638 257,750
Retained earnings 6,220 1,400
230,958 259,250

BALKERNE GATE PROPERTIES LIMITED (REGISTERED NUMBER: 13287022)

BALANCE SHEET - continued
31 MARCH 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 20 November 2024 and were signed on its behalf by:




Mr D Syrett - Director



Mr J Runicles - Director


BALKERNE GATE PROPERTIES LIMITED (REGISTERED NUMBER: 13287022)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Balkerne Gate Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

For the purposes of presentation the financial statements are rounded to the nearest pound sterling (£).

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Investment property
Investment properties are shown on the Balance Sheet at their open market value. The surplus or deficit arising from the annual revaluation is transferred to the fair value reserve unless a deficit, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the income statement for the year.

Financial instruments
Basic financial instruments are recognised at amortised cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

BALKERNE GATE PROPERTIES LIMITED (REGISTERED NUMBER: 13287022)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 2,050,000
Additions 18,693
Revaluations (18,693 )
At 31 March 2024 2,050,000
NET BOOK VALUE
At 31 March 2024 2,050,000
At 31 March 2023 2,050,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2023 318,210
Valuation in 2024 (18,693 )
Cost 1,750,483
2,050,000

The investment properties were valued by the directors at open market value at the Balance Sheet date.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 23,789 2,630

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 100,000 -
Trade creditors 502,707 501,093
Amounts owed to related undertakings 1,114,461 877,961
Taxation and social security 22,602 15,574
Other creditors 42,188 39,913
1,781,958 1,434,541

There is a fixed charge held over 142 Hythe Hill, Colchester, CO1 2NF created on 2 September 2022 held by National Westminster Bank Plc.

BALKERNE GATE PROPERTIES LIMITED (REGISTERED NUMBER: 13287022)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 500,000

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 350,467

8. RESERVES

Fair
value
reserve
£
At 1 April 2023257,750
Fair value adjustment on revaluation(18,693)
Deferred tax on revaluation(14,419)

At 31 March 2024224,638

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year a sum of £47,416 was advanced to D Syrett and £36,587 was repaid. As at the year end a sum of £10,829 remained outstanding.

During the year a sum of £47,396 was advanced to J Runicles and £36,613 was repaid. As at the year end a sum of £10,783 remained outstanding.

The directors loan account balances are repayable on demand.

10. RELATED PARTY DISCLOSURES

At the Balance Sheet date the company owed £1,114,461 (2023: £877,961) to companies under common control and this is included in creditors. The balances outstanding are interest free and repayable on demand.