Company registration number 09419182 (England and Wales)
BWW PROPERTIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024
PAGES FOR FILING WITH REGISTRAR
BWW PROPERTIES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
BWW PROPERTIES LIMITED
BALANCE SHEET
AS AT
29 FEBRUARY 2024
29 February 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment properties
200,000
216,000
Current assets
Debtors
4
614
-
0
Cash at bank and in hand
15,423
14,112
16,037
14,112
Creditors: amounts falling due within one year
5
(76,148)
(78,559)
Net current liabilities
(60,111)
(64,447)
Total assets less current liabilities
139,889
151,553
Creditors: amounts falling due after more than one year
6
(60,231)
(67,408)
Provisions for liabilities
(4,750)
(7,790)
Net assets
74,908
76,355
Capital and reserves
Called up share capital
7
300
300
Revaluation reserve
8
25,000
41,000
Profit and loss reserves
49,608
35,055
Total equity
74,908
76,355

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

BWW PROPERTIES LIMITED
BALANCE SHEET (CONTINUED)
AS AT
29 FEBRUARY 2024
29 February 2024
2024
2023
Notes
£
£
£
£
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 22 November 2024 and are signed on its behalf by:
Ms S N Berry
Director
Company Registration No. 09419182
BWW PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 3 -
1
Accounting policies
Company information

BWW Properties Limited is a private company limited by shares incorporated in England and Wales. The registered office is c/o Beta Climbing Designs Ltd, 44 Broadfield Road, Sheffield, South Yorkshire, S8 0XJ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business.

1.3
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.4
Financial instruments
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

BWW PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 FEBRUARY 2024
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.6
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.7
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
3
3
BWW PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 5 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
614
-
0

Other Debtors: £614 Prepayments (2023 £0)

5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
6,471
6,788
Trade creditors
3,029
2,117
Taxation and social security
2,701
4,698
Other creditors
63,947
64,956
76,148
78,559

Other creditors £63,947 (2023 £64,956) comprise: Directors' Loan Accounts £62,609 (2023 £62,609), Accruals £1,110 (2023 £2,347) and Amounts due to Related Parties £228 (2023 £0).

6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
60,231
67,408
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A Shares of £1 each
300
300
300
300
8
Revaluation reserve
2024
2023
£
£
At the beginning of the year
41,000
65,000
Other movements
(16,000)
(24,000)
At the end of the year
25,000
41,000
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