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REGISTERED NUMBER: 03105612 (England and Wales)







Unaudited Financial Statements for the Year Ended 30 April 2024

for

Bains Property Ltd

Bains Property Ltd (Registered number: 03105612)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Bains Property Ltd

Company Information
for the Year Ended 30 April 2024







DIRECTORS: Mr Dobinder Singh Bains
Mrs Janet Pauline Bains
Miss Kiran Anne Bains





SECRETARY: Mrs Janet Pauline Bains





REGISTERED OFFICE: Woodlands Grange
Woodlands Lane
Bradley Stoke
Bristol
BS32 4JY





REGISTERED NUMBER: 03105612 (England and Wales)





ACCOUNTANTS: Dunkley's
Woodlands Grange
Woodlands Lane
Bradley Stoke
Bristol
BS32 4JY

Bains Property Ltd (Registered number: 03105612)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 9,170,187 7,862,254

CURRENT ASSETS
Debtors 5 566,781 555,000
Cash at bank 269,556 231,061
836,337 786,061
CREDITORS
Amounts falling due within one year 6 732,012 726,975
NET CURRENT ASSETS 104,325 59,086
TOTAL ASSETS LESS CURRENT LIABILITIES 9,274,512 7,921,340

CREDITORS
Amounts falling due after more than one year 7 (1,898,553 ) (1,945,909 )

PROVISIONS FOR LIABILITIES (872,597 ) (796,331 )
NET ASSETS 6,503,362 5,179,100

CAPITAL AND RESERVES
Called up share capital 9 502 502
Fair value reserve 10 3,620,692 2,388,992
Retained earnings 10 2,882,168 2,789,606
SHAREHOLDERS' FUNDS 6,503,362 5,179,100

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

Bains Property Ltd (Registered number: 03105612)

Balance Sheet - continued
30 April 2024


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 7 November 2024 and were signed on its behalf by:





Miss Kiran Anne Bains - Director


Bains Property Ltd (Registered number: 03105612)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Bains Property Ltd 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.

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 consists of rents receivable. Rental revenue is recognised evenly over the rental period.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33.33% on 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.

3. EMPLOYEES AND DIRECTORS

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

Bains Property Ltd (Registered number: 03105612)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
Freehold to and Computer
property property fittings equipment Totals
£    £    £    £    £   
COST OR VALUATION
At 1 May 2023 7,838,842 23,192 8,421 929 7,871,384
Revaluations 1,307,966 - - - 1,307,966
At 30 April 2024 9,146,808 23,192 8,421 929 9,179,350
DEPRECIATION
At 1 May 2023 - - 8,201 929 9,130
Charge for year - - 33 - 33
At 30 April 2024 - - 8,234 929 9,163
NET BOOK VALUE
At 30 April 2024 9,146,808 23,192 187 - 9,170,187
At 30 April 2023 7,838,842 23,192 220 - 7,862,254

Cost or valuation at 30 April 2024 is represented by:

Improvements Fixtures
Freehold to and Computer
property property fittings equipment Totals
£    £    £    £    £   
Valuation in 2022 3,185,323 - - - 3,185,323
Valuation in 2024 1,307,966 - - - 1,307,966
Cost 4,653,519 23,192 8,421 929 4,686,061
9,146,808 23,192 8,421 929 9,179,350

If the freehold property had not been revalued they would have been included at the following historical cost:

30.4.24 30.4.23
£    £   
Cost 4,653,519 4,653,518

Freehold land and buildings were valued on an open market basis on 30 April 2024 by the directors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 20,367 20,916
Rent due 33,621 30,570
Other debtors 500,000 500,000
Prepayments 12,793 3,514
566,781 555,000

Bains Property Ltd (Registered number: 03105612)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 24,685 23,783
Trade creditors 2,277 7,459
Tax 35,573 30,091
Other creditors 92,077 89,421
Directors' current accounts 557,747 556,843
Deferred income 17,028 15,803
Accrued expenses 2,625 3,575
732,012 726,975

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans - 1-2 years 24,685 23,783
Bank loans - 2-5 years 1,473,868 1,522,126
Other loans more 5yrs instal 400,000 400,000
1,898,553 1,945,909

Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal 400,000 400,000

The other loans of £400,000 have a non repayment period of fifteen years and are then repayable in instalments of £50,000 per annum.

8. SECURED DEBTS

The following secured debts are included within creditors:

30.4.24 30.4.23
£    £   
Bank loans 1,523,238 1,569,692

There is a fixed and floating first legal charge over the freehold land and buildings as specified in the mortgage and debenture agreement together with the negative pledge in favour of Lloyds Bank PLC.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: £    £   
1,000 Ordinary A £1 10 10
1,000 Ordinary B £1 490 490
2 Ordinary C £1 2 2
502 502

Bains Property Ltd (Registered number: 03105612)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

10. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 May 2023 2,789,606 2,388,992 5,178,598
Profit for the year 1,344,262 1,344,262
Dividends (20,000 ) (20,000 )
Assets revalued in period (1,231,700 ) 1,231,700 -
At 30 April 2024 2,882,168 3,620,692 6,502,860

11. RELATED PARTY DISCLOSURES

At 30 April 2024, the company owed the directors £557,748 (2023: £556,843). This loan is interest-free, unsecured and repayable on demand.