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REGISTERED NUMBER: 10960036 (England and Wales)

































Unaudited Financial Statements

For The Year Ended

30 September 2024

for

BJN PROPERTIES LTD

BJN PROPERTIES LTD (REGISTERED NUMBER: 10960036)






Contents of the Financial Statements
For The Year Ended 30 September 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


BJN PROPERTIES LTD

Company Information
For The Year Ended 30 September 2024







DIRECTOR: Mrs J M Norbury





REGISTERED OFFICE: 8 Eastway
Sale
Cheshire
M33 4DX





REGISTERED NUMBER: 10960036 (England and Wales)





ACCOUNTANTS: Leavitt Walmsley Associates Limited
Chartered Certified Accountants
8 Eastway
Sale
Cheshire
M33 4DX

BJN PROPERTIES LTD (REGISTERED NUMBER: 10960036)

Abridged Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 169 226
Investment property 5 588,313 290,460
588,482 290,686

CURRENT ASSETS
Debtors 714 -
Prepayments and accrued income 3,847 6,597
Cash at bank 86,923 52,802
91,484 59,399
CREDITORS
Amounts falling due within one year 189,559 69,115
NET CURRENT LIABILITIES (98,075 ) (9,716 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

490,407

280,970

CREDITORS
Amounts falling due after more than one year 6 586,414 335,332
NET LIABILITIES (96,007 ) (54,362 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (96,107 ) (54,462 )
SHAREHOLDERS' FUNDS (96,007 ) (54,362 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

BJN PROPERTIES LTD (REGISTERED NUMBER: 10960036)

Abridged Balance Sheet - continued
30 September 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 September 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 10 February 2025 and were signed by:





Mrs J M Norbury - Director


BJN PROPERTIES LTD (REGISTERED NUMBER: 10960036)

Notes to the Financial Statements
For The Year Ended 30 September 2024

1. STATUTORY INFORMATION

BJN Properties 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Rents received
The company's policy of revenue recognition is to recognise rental income when the contractual obligations to the customer have been fulfilled. For contracts where obligations to the customer have not been fulfilled, but have been invoiced revenue is recognised within deferred income in current liabilities until such time a right to consideration arises.

Rental income is recognised on a straight-line basis over the term of the tenant's lease. Rental income that is receivable but not paid is presented within current assets as debtors and measured at amortised cost.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% on reducing balance

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs which are directly attributable in bringing the asset to its location and condition so that it is capable of operating in the manner intended by management.

Residual values used in the calculation of depreciable amount are the expected amounts which would currently be obtained from disposal of assets, after deducting the estimated costs of disposal, if the assets were already of the age and in the condition expected at the end of their useful lives.

Profits and losses on the disposal of fixed assets are included in the calculation of profit for the period.

The directors assess the company's tangible assets for evidence of impairment at each reporting date. Where there are indicators of impairment, the directors calculate recoverable amount of the asset(s) and compare this with the carrying amount. If recoverable amount is lower than carrying amount, the asset is written down to recoverable amount by way of an impairment loss which is recognised in profit or loss for the period. Impairment losses are reversed when there is evidence that the reasons giving rise to the original impairment have ceased to apply. Impairment losses are reversed through profit and loss but only to the extent that the reversal does not increase the carrying amount of the asset to the amount which would have been stated, net of depreciation, had no impairment loss been recognised.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Investment property is recorded at fair value at each reporting date with fair value gains and losses being recorded in the profit and loss account. Deferred tax consequences in respect of fair value adjustments on investment property are also recorded in profit and loss account. Gains, net of deferred tax, are non-distributable to the shareholders and are presented in a separate component of equity in the balance sheet.

BJN PROPERTIES LTD (REGISTERED NUMBER: 10960036)

Notes to the Financial Statements - continued
For The Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
A financial asset or 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 transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit or loss. All other investments are subsequently measured at cost less impairment.

Debtors and creditors which fall due within one year are recorded in the financial statements at transaction price and subsequently measured at amortised cost. If the effects of the time value of money are immaterial, they are measured at cost (less impairment for trade debtors). Debtors are reviewed for impairment at each reporting date and any impairments are recorded in profit or loss and shown within administrative expenses when there is objective evidence that a debtor is impaired. Objective evidence that a debtor is impaired arises when the customer is unable to settle amounts owing to the company or the customer becomes bankrupt.

Debtors do not carry interest and are stated at their nominal value.

Trade creditors are not interest-bearing and are stated at their nominal value.

Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset which exceeds what the carrying amount would have been had the impairment loss not previously been recognised.

Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year with an associated expense in profit or loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 October 2023
and 30 September 2024 535
DEPRECIATION
At 1 October 2023 309
Charge for year 57
At 30 September 2024 366
NET BOOK VALUE
At 30 September 2024 169
At 30 September 2023 226

BJN PROPERTIES LTD (REGISTERED NUMBER: 10960036)

Notes to the Financial Statements - continued
For The Year Ended 30 September 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2023 290,460
Additions 297,853
At 30 September 2024 588,313
NET BOOK VALUE
At 30 September 2024 588,313
At 30 September 2023 290,460

FRS 102, Section 16 'Investment Property' requires the company to remeasure investment property to fair value at each reporting date with changes in fair value being recorded in profit or loss together with any associated deferred tax consequences (which are also recorded in profit or loss). In the absence of a fair valuation of these properties, it is not possible to state the investment properties at their fair value at the balance sheet date.

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS
30.9.24 30.9.23
£    £   
Repayable by instalments
Bank loans more 5 yr by instal 584,438 330,778

7. SECURED DEBTS

The following secured debts are included within creditors:

30.9.24 30.9.23
£    £   
Bank loans 588,992 337,846

The loans are secured by way of fixed charge over all the property of the company. The charge dated 14th December 2017 is in favour of Charter Court Financial Services Limited. The charge dated 11th February 2019 is in favour of Paratus AMC Limited. The charge dated 19th July 2019 is in favour of Charter Court Financial Services Limited