Registered number
08049936
Bilams Limited
Unaudited Filleted Accounts
30 April 2024
Bilams Limited
Company Information
Directors
Mr S S O'Donnell
Mrs N Harber
Accountants
Keith Graham
Chartered Accountants
Suite 2 Wesley Chambers
Queens Road
Aldershot
Hampshire
GU11 3JD
Bankers
HSBC Bank Plc
30 Princes Mead Shopping Centre
Farnborough
Hampshire
GU14 6YB
Registered office
Suite 2, Wesley Chambers
Queens Road
Aldershot
Hampshire
GU11 3JD
Registered number
08049936
Bilams Limited
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Bilams Limited for the year ended 30 April 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Bilams Limited for the year ended 30 April 2024 which comprise of the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and the 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, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/ members/regulations-standards-and-guidance
This report is made solely to the Board of Directors of Bilams Limited, as a body, in accordance with the terms of our engagement letter dated 8 June 2023. Our work has been undertaken solely to prepare for your approval the accounts of Bilams Limited and state those matters that we have agreed to state to the Board of Directors of Bilams Limited, 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 Bilams Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Bilams Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Bilams Limited. You consider that Bilams Limited 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 accounts of Bilams Limited. 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 accounts.
Keith Graham
Chartered Accountants
Suite 2 Wesley Chambers
Queens Road
Aldershot
Hampshire
GU11 3JD
15 January 2025
Bilams Limited
Registered number: 08049936
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 2,111,559 2,028,146
Current assets
Stocks 1,007 1,007
Debtors 4 5,718 2,072
Cash at bank and in hand 28,168 75,556
34,893 78,635
Creditors: amounts falling due within one year 5 (112,191) (61,634)
Net current (liabilities)/assets (77,298) 17,001
Total assets less current liabilities 2,034,261 2,045,147
Provisions for liabilities (318,155) (320,894)
Net assets 1,716,106 1,724,253
Capital and reserves
Called up share capital 20 20
Revaluation reserve 6 933,216 939,455
Other reserve 721,000 721,000
Profit and loss account 61,870 63,778
Shareholders' funds 1,716,106 1,724,253
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr S S O'Donnell
Director
Approved by the board on 15 January 2025
Bilams Limited
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover represents the value, of residential and non-residential letting and rental services provided to customers and are recognised when they fall due. This includes dilapidation receipts, where the company has also paid for repairs under the terms of the lease. Turnover also includes the provision of handyman services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Investment properties Revalued to market value each year
Plant and machinery over 5 years
Motor vehicles over 5 years
Investment properties
Paragraph 16.7 of FRS 102 requires investment properties to be measured at fair value at each reporting date. All increases and decreases in value are taken to the profit and loss in the year. Information regarding the valuation method can be seen in note 3.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Investment properties Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 May 2023 2,003,200 7,263 29,305 2,039,768
Additions 90,153 6,739 - 96,892
Surplus on revaluation (5,153) - - (5,153)
Disposals - (249) (2,310) (2,559)
At 30 April 2024 2,088,200 13,753 26,995 2,128,948
Depreciation
At 1 May 2023 - 4,375 7,247 11,622
Charge for the year - 2,266 5,399 7,665
On disposals - (50) (1,848) (1,898)
At 30 April 2024 - 6,591 10,798 17,389
Net book value
At 30 April 2024 2,088,200 7,162 16,197 2,111,559
At 30 April 2023 2,003,200 2,888 22,058 2,028,146
Freehold land and buildings: 2024 2023
£ £
Historical cost 733,270 733,270
Cumulative depreciation based on historical cost - -
733,270 733,270
The valuations were carried out by the director Mr S S O'Donnell on 30 April 2024. These valuations were calculated through the use of freely available online property valuation websites, adjusted for timing based on any movements for the year end.
4 Debtors 2024 2023
£ £
Trade debtors 4,326 330
Other debtors 1,392 1,742
5,718 2,072
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 571 -
Taxation and social security costs 6,461 326
Other creditors 105,159 61,308
112,191 61,634
6 Fair value reserve 2024 2023
£ £
At 1 May 2023 939,455 907,483
(Loss)/gain on revaluation of land and buildings (5,153) 90,503
Deferred taxation arising on the revaluation of land and buildings (1,086) (58,531)
At 30 April 2024 933,216 939,455
7 Other reserve 2024 2023
£ £
At 1 May 2023 721,000 721,000
At 30 April 2024 721,000 721,000
Other reserve contains the original probate value when the business was incorporated.
8 Other information
Bilams Limited is a private company limited by shares and incorporated in England. Its registered office is:
Suite 2, Wesley Chambers
Queens Road
Aldershot
Hampshire
GU11 3JD
The functional currency for these accounts is Sterling.
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