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Company registration number:
07021606
Bds Property Services Ltd
Unaudited Filleted Financial Statements for the year ended
30 September 2024
Bds Property Services Ltd
Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements of Bds Property Services Ltd
Year ended
30 September 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the
financial statements
of
Bds Property Services Ltd
for the year ended
30 September 2024
which comprise the income statement, statement of financial position and related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/​regulations.
This report is made solely to the Board of Directors of
Bds Property Services Ltd
, as a body. Our work has been undertaken solely to prepare for your approval the
financial statements
of
Bds Property Services Ltd
and state those matters that we have agreed to state to the Board of Directors of
Bds Property Services Ltd
, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than
Bds Property Services Ltd
and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that
Bds Property Services Ltd
has kept adequate accounting records and to prepare statutory
financial statements
that give a true and fair view of the assets, liabilities, financial position and profit of
Bds Property Services Ltd
. You consider that
Bds Property Services Ltd
is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Bds Property Services Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Proud Goulbourn Accountants Limited
Office 16, Hamilton Davies House
117c Liverpool Road
Cadishead
Manchester
M44 5BG
United Kingdom
Date:
16 December 2024
Bds Property Services Ltd
Statement of Financial Position
30 September 2024
20242023
Note££
Fixed assets    
Intangible assets 5
372
  -  
Tangible assets 6
330,271
 
328,431
 
Investments 7
250,000
 
246,000
 
580,643
 
574,431
 
Current assets    
Cash at bank and in hand
98,841
 
94,335
 
Creditors: amounts falling due within one year 8
(505,112
)
(501,779
)
Net current liabilities
(406,271
)
(407,444
)
Total assets less current liabilities 174,372   166,987  
Provisions for liabilities
(28,609
)
(27,849
)
Net assets
145,763
 
139,138
 
Capital and reserves    
Called up share capital
1
 
1
 
Profit and loss account
145,762
 
139,137
 
Shareholders funds
145,763
 
139,138
 
For the year ending
30 September 2024
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
  • 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;
  • The director acknowledges 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.
In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
16 December 2024
, and are signed on behalf of the board by:
B Smith
Director
Company registration number:
07021606
Bds Property Services Ltd
Notes to the Financial Statements
Year ended
30 September 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
3 Royal Avenue
,
Urmston
,
Manchester
,
M41 9JW
, .

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, and investment properties measured at fair value through profit and loss.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover comprises income receivable from the renting of property in the year..

Current tax

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.

Intangible assets

Intangible assets are initially measured at cost and are subsequently measured at cost less any accumulated amortisation and accumulated impairment losses or at a revalued amount. However, Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Any intangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation 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. However, the increase is recognised in profit or loss to the extent that 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. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Plant and machinery
20% straight line
Office equipment
20% straight line
Fixtures and fittings
15% straight line

Fixed asset investments

Investments held as fixed assets are initially recorded at cost, and are 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

Provisions for liabilities

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

4 Average number of employees

The average number of persons employed by the company during the year was Nil (2023: Nil).

5 Intangible assets

Other intangible assets
£
Cost  
At
1 October 2023
-  
Disposals
372
 
At
30 September 2024
372
 
Amortisation  
At
1 October 2023
and
30 September 2024
-  
Carrying amount  
At
30 September 2024
372
 
At 30 September 2023 -  

6 Tangible assets

Land and buildingsPlant and machinery etc.Total
£££
Cost      
At
1 October 2023
327,342
 
13,851
 
341,193
 
Additions
1,796
 
647
 
2,443
 
At
30 September 2024
329,138
 
14,498
 
343,636
 
Depreciation      
At
1 October 2023
-  
12,762
 
12,762
 
Charge -  
603
 
603
 
At
30 September 2024
-  
13,365
 
13,365
 
Carrying amount      
At
30 September 2024
329,138
 
1,133
 
330,271
 
At 30 September 2023
327,342
 
1,089
 
328,431
 
The freehold property is currently being refurbished

Tangible assets held at valuation

7 Investments

Other investments other than loans
£
Cost or valuation  
At
1 October 2023
246,000
 
Revaluations
4,000
 
At
30 September 2024
250,000
 
Impairment  
At
1 October 2023
and
30 September 2024
-  
Carrying amount  
At
30 September 2024
250,000
 
At 30 September 2023
246,000
 

8 Creditors: amounts falling due within one year

20242023
££
Taxation and social security
807
 
774
 
Other creditors
504,305
 
501,005
 
505,112
 
501,779