2
01/06/2023
31/05/2024
2024-05-31
false
false
false
false
true
false
false
false
false
false
true
false
false
true
false
false
false
false
false
true
false
No description of principal activities is disclosed
2023-06-01
Sage Accounts Production 23.0 - FRS102_2023
xbrli:pure
xbrli:shares
iso4217:GBP
00829518
2023-06-01
2024-05-31
00829518
2024-05-31
00829518
2023-05-31
00829518
2022-06-01
2023-05-31
00829518
2023-05-31
00829518
2022-05-31
00829518
bus:RegisteredOffice
2023-06-01
2024-05-31
00829518
bus:LeadAgentIfApplicable
2023-06-01
2024-05-31
00829518
bus:Director1
2023-06-01
2024-05-31
00829518
bus:Director2
2023-06-01
2024-05-31
00829518
bus:CompanySecretary1
2023-06-01
2024-05-31
00829518
core:LandBuildings
core:OwnedOrFreeholdAssets
2024-05-31
00829518
core:WithinOneYear
2024-05-31
00829518
core:WithinOneYear
2023-05-31
00829518
core:RetainedEarningsAccumulatedLosses
2022-06-01
2023-05-31
00829518
core:RetainedEarningsAccumulatedLosses
2023-06-01
2024-05-31
00829518
core:LandBuildings
core:OwnedOrFreeholdAssets
2023-06-01
2024-05-31
00829518
core:ShareCapital
2024-05-31
00829518
core:ShareCapital
2023-05-31
00829518
core:RevaluationReserve
2024-05-31
00829518
core:RevaluationReserve
2023-05-31
00829518
core:RetainedEarningsAccumulatedLosses
2024-05-31
00829518
core:RetainedEarningsAccumulatedLosses
2023-05-31
00829518
core:ShareCapital
2022-05-31
00829518
core:RevaluationReserve
2022-05-31
00829518
core:RetainedEarningsAccumulatedLosses
2022-05-31
00829518
core:PreviouslyStatedAmount
core:ShareCapital
2024-05-31
00829518
core:CostValuation
core:Non-currentFinancialInstruments
2024-05-31
00829518
core:Non-currentFinancialInstruments
2024-05-31
00829518
core:Non-currentFinancialInstruments
2023-05-31
00829518
core:LandBuildings
core:OwnedOrFreeholdAssets
2023-05-31
00829518
core:LandBuildings
core:OwnedOrFreeholdAssets
2023-05-31
00829518
bus:SmallEntities
2023-06-01
2024-05-31
00829518
bus:Audited
2023-06-01
2024-05-31
00829518
bus:SmallCompaniesRegimeForAccounts
2023-06-01
2024-05-31
00829518
bus:PrivateLimitedCompanyLtd
2023-06-01
2024-05-31
00829518
bus:FullAccounts
2023-06-01
2024-05-31
Company registration number:
00829518
Broad Street Place Developments Limited
Filleted financial statements
31 May 2024
Broad Street Place Developments Limited
Contents
Directors and other information
Directors responsibilities statement
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Broad Street Place Developments Limited
Directors and other information
|
|
|
|
Directors |
Mrs E J B Parkinson |
|
|
Mrs C J Lewis |
|
|
|
|
|
|
|
Secretary |
Mr R C Lewis |
|
|
|
|
|
|
|
Company number |
00829518 |
|
|
|
|
|
|
|
Registered office |
23 Bedford Row |
|
|
London |
|
|
WC1R 4EB |
|
|
|
|
|
|
|
Auditor |
Hicks and Company |
|
|
Vaughan Chambers |
|
|
Vaughan Road |
|
|
Harpenden |
|
|
AL5 4EE |
|
|
|
|
|
|
Broad Street Place Developments Limited
Directors responsibilities statement
Year ended 31 May 2024
The directors are responsible for preparing the directors report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to:
-
select suitable accounting policies and then apply them consistently;
-
make judgments and accounting estimates that are reasonable and prudent; and
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Broad Street Place Developments Limited
Statement of financial position
31 May 2024
|
|
|
2024 |
|
|
|
2023 |
|
|
|
|
Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
|
|
Tangible assets |
|
5 |
4,310,000 |
|
|
|
4,330,783 |
|
|
Investments |
|
6 |
147 |
|
|
|
147 |
|
|
|
|
|
_________ |
|
|
|
_________ |
|
|
|
|
|
|
|
4,310,147 |
|
|
|
4,330,930 |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
Debtors |
|
7 |
175,349 |
|
|
|
302,193 |
|
|
Investments |
|
8 |
6,134 |
|
|
|
6,048 |
|
|
Cash at bank and in hand |
|
|
637,944 |
|
|
|
757,400 |
|
|
|
|
|
_________ |
|
|
|
_________ |
|
|
|
|
|
819,427 |
|
|
|
1,065,641 |
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
within one year |
|
9 |
(
94,109) |
|
|
|
(
259,813) |
|
|
|
|
|
_________ |
|
|
|
_________ |
|
|
Net current assets |
|
|
|
|
725,318 |
|
|
|
805,828 |
|
|
|
|
|
_________ |
|
|
|
_________ |
Total assets less current liabilities |
|
|
|
|
5,035,465 |
|
|
|
5,136,758 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_________ |
|
|
|
_________ |
Net assets |
|
|
|
|
5,035,465 |
|
|
|
5,136,758 |
|
|
|
|
|
_________ |
|
|
|
_________ |
|
|
|
|
|
|
|
|
|
|
Capital and reserves |
|
|
|
|
|
|
|
|
|
Called up share capital |
|
|
|
|
24,000 |
|
|
|
24,000 |
Non-distributable revaluation reserve |
|
|
|
|
2,716,217 |
|
|
|
2,716,217 |
Distributable profit and loss account |
|
|
|
|
2,295,248 |
|
|
|
2,396,541 |
|
|
|
|
|
_________ |
|
|
|
_________ |
Shareholders funds |
|
|
|
|
5,035,465 |
|
|
|
5,136,758 |
|
|
|
|
|
_________ |
|
|
|
_________ |
|
|
|
|
|
|
|
|
|
|
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
26 November 2024
, and are signed on behalf of the board by:
Mrs E J B Parkinson
Director
Company registration number:
00829518
Broad Street Place Developments Limited
Statement of changes in equity
Year ended 31 May 2024
|
|
Called up share capital |
|
Non-distributable revaluation reserve |
|
Distributable profit and loss account |
Total |
|
|
|
|
|
£ |
|
£ |
|
£ |
£ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
At 1 June 2022 |
|
24,000 |
|
2,716,217 |
|
2,272,190 |
5,012,407 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit for the year |
|
|
|
|
|
340,351 |
340,351 |
|
|
|
|
|
_________ |
|
_________ |
|
_________ |
_________ |
|
|
|
Total comprehensive income for the year |
|
- |
|
- |
|
340,351 |
340,351 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dividends paid and payable |
|
|
|
|
|
(
216,000) |
(
216,000) |
|
|
|
|
|
_________ |
|
_________ |
|
_________ |
_________ |
|
|
|
Total investments by and distributions to owners |
|
- |
|
- |
|
(
216,000) |
(
216,000) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_________ |
|
_________ |
|
_________ |
_________ |
|
|
|
At 31 May 2023 and 1 June 2023 |
|
24,000 |
|
2,716,217 |
|
2,396,541 |
5,136,758 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit for the year |
|
|
|
|
|
138,707 |
138,707 |
|
|
|
|
|
_________ |
|
_________ |
|
_________ |
_________ |
|
|
|
Total comprehensive income for the year |
|
- |
|
- |
|
138,707 |
138,707 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dividends paid and payable |
|
|
|
|
|
(
240,000) |
(
240,000) |
|
|
|
|
|
_________ |
|
_________ |
|
_________ |
_________ |
|
|
|
Total investments by and distributions to owners |
|
- |
|
- |
|
(
240,000) |
(
240,000) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_________ |
|
_________ |
|
_________ |
_________ |
|
|
|
At 31 May 2024 |
|
24,000 |
|
2,716,217 |
|
2,295,248 |
5,035,465 |
|
|
|
|
|
_________ |
|
_________ |
|
_________ |
_________ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Broad Street Place Developments Limited
Notes to the financial statements
Year ended 31 May 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 23 Bedford Row, London, WC1R 4EB.
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 consists of the value of legal completions or properties sold in the year and rents receivable.
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.
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.If a reliable measure of fair value is not available without undue cost or effort it shall be transferred to fixed assets and accounted for under the cost model until it is expected that fair value will be reliably measurable on an on-going basis.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
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 entity 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.
Group accounts
The Company is entitled to the exemption under Section 398 of the Companies Act 2006 from the obligation to prepare group accounts.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
2
(2023:
2
).
5.
Tangible assets
|
|
Freehold property |
Total |
|
|
|
|
|
|
|
£ |
£ |
|
|
|
|
|
|
Cost |
|
|
|
|
|
|
|
|
At 1 June 2023 |
4,330,783 |
4,330,783 |
|
|
|
|
|
|
Disposals |
(
20,783) |
(
20,783) |
|
|
|
|
|
|
|
_________ |
_________ |
|
|
|
|
|
|
At 31 May 2024 |
4,310,000 |
4,310,000 |
|
|
|
|
|
|
|
_________ |
_________ |
|
|
|
|
|
|
Depreciation |
|
|
|
|
|
|
|
|
At 1 June 2023 and 31 May 2024 |
- |
- |
|
|
|
|
|
|
|
_________ |
_________ |
|
|
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
|
At 31 May 2024 |
4,310,000 |
4,310,000 |
|
|
|
|
|
|
|
_________ |
_________ |
|
|
|
|
|
|
At 31 May 2023 |
4,330,783 |
4,330,783 |
|
|
|
|
|
|
|
_________ |
_________ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Freehold investment properties have been valued by the directors at their fair value at 31 May 2024. The historical cost of the freehold properties included above at a value of £4,310,000 was £1,593,783.
6.
Investments
|
|
Shares in group undertakings and participating interests |
Total |
|
|
|
|
|
|
£ |
£ |
|
|
|
|
|
Cost |
|
|
|
|
|
|
|
At 1 June 2023 and 31 May 2024 |
147 |
147 |
|
|
|
|
|
|
_________ |
_________ |
|
|
|
|
|
Impairment |
|
|
|
|
|
|
|
At 1 June 2023 and 31 May 2024 |
- |
- |
|
|
|
|
|
|
_________ |
_________ |
|
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
At 31 May 2024 |
147 |
147 |
|
|
|
|
|
|
_________ |
_________ |
|
|
|
|
|
At 31 May 2023 |
147 |
147 |
|
|
|
|
|
|
_________ |
_________ |
|
|
|
|
|
|
|
|
|
|
|
|
7.
Debtors
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Trade debtors |
|
4,275 |
127,305 |
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
|
83,281 |
81,449 |
|
Other debtors |
|
87,793 |
93,439 |
|
|
|
_________ |
_________ |
|
|
|
175,349 |
302,193 |
|
|
|
_________ |
_________ |
|
|
|
|
|
8.
Investments
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Tenants' deposits bank accounts |
|
6,134 |
6,048 |
|
|
|
_________ |
_________ |
|
|
|
|
|
9.
Creditors: amounts falling due within one year
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Trade creditors |
|
8,223 |
1,788 |
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
100 |
100 |
|
Corporation tax |
|
26,942 |
64,819 |
|
Social security and other taxes |
|
- |
37,590 |
|
Other creditors |
|
58,844 |
155,516 |
|
|
|
_________ |
_________ |
|
|
|
94,109 |
259,813 |
|
|
|
_________ |
_________ |
|
|
|
|
|
10.
Summary audit opinion
The auditor's report dated
26 November 2024
was unqualified.
The senior statutory auditor was
Philip Dean
for and on behalf of
Hicks and Company
11.
Related party transactions
During the year the amount receivable from Visionseek Limited, a company in which
Broad Street Place Developments Limited
is a shareholder, increased by £1,832 (2023 - increased by £52,380). At 31 May 2024, the balance due from Visionseek Limited to Broad Street Place Developments Limited
was £83,281 (2023 - £81,449). During the year, Visionseek Limited declared dividends totalling £44,000 (2023 - £81,120) on shares owned by the company and interest on the loan balance of £4,320 (2023 - £10,500).