Company registration number 11820794 (England and Wales)
BADGEWORTH DEVELOPMENTS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
BADGEWORTH DEVELOPMENTS LTD
CONTENTS
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 5
BADGEWORTH DEVELOPMENTS LTD
STATEMENT OF FINANCIAL POSITION
AS AT
30 APRIL 2024
30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
-
0
863
Current assets
Debtors
20,748
128,277
Cash at bank and in hand
858,309
469,426
879,057
597,703
Creditors: amounts falling due within one year
(172,167)
(80,799)
Net current assets
706,890
516,904
Total assets less current liabilities
706,890
517,767
Creditors: amounts falling due after more than one year
(550,000)
(550,000)
Provisions for liabilities
-
0
4,758
Net assets/(liabilities)
156,890
(27,475)
Capital and reserves
Called up share capital
4
4
4
Profit and loss reserves
156,886
(27,479)
Total equity
156,890
(27,475)
BADGEWORTH DEVELOPMENTS LTD
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
30 APRIL 2024
30 April 2024
- 2 -

For the financial year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 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.

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, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 29 January 2025 and are signed on its behalf by:
Mr T M Clink
Director
Company registration number 11820794 (England and Wales)
BADGEWORTH DEVELOPMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 3 -
1
Accounting policies
Company information

Badgeworth Developments Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 5 Ullenwood Court, Cheltenham, Gloucestershire, England, GL53 9QS.

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 are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. 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, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover represents income from fees and charges for property management services and sales of development properties. Sales of development properties are recognised on completion.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
20% on cost
Computers
33% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
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 income statement 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.

BADGEWORTH DEVELOPMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 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 income statement, 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.

2
Employees

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

2024
2023
Number
Number
Total
2
2
3
Tangible fixed assets
Total
£
Cost
At 1 May 2023
2,862
Disposals
(2,862)
At 30 April 2024
-
0
Depreciation and impairment
At 1 May 2023
1,999
Eliminated in respect of disposals
(1,999)
At 30 April 2024
-
0
Carrying amount
At 30 April 2024
-
0
At 30 April 2023
863
BADGEWORTH DEVELOPMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 5 -
4
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
2
2
2
2
Ordinary S shares of £1 each
1
1
1
1
Ordinary B shares of £1 each
1
1
1
1
4
4
4
4
5
Related party transactions

Mr T M & Mrs K L Clink

Directors and shareholders of the company

 

In a previous period the directors loaned money to the company for working capital. During the year an additional £1,978 was advanced. The advance is unsecured, interest free and repayable on demand. The amount due to the directors at the balance sheet date was £3,967 (2023: £1,989).

 

Oyster Marketing Ltd

A trust in which one of the directors has an interest

 

In a previous period, the related party lent money to the company for working capital. The loan bears interest at a commercial rate, which has been accrued. It is unsecured and is repayable on demand. The amount due to the related party at the balance sheet date was £550,000 (2023: £550,000).

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