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COMPANY REGISTRATION NUMBER: 13616737
BG Home Rentals Ltd
Filleted Unaudited Financial Statements
31 March 2024
BG Home Rentals Ltd
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
4
262,485
261,097
Current assets
Cash at bank and in hand
6,974
9,091
Creditors: amounts falling due within one year
5
265,101
268,854
---------
---------
Net current liabilities
258,127
259,763
---------
---------
Total assets less current liabilities
4,358
1,334
-------
-------
Net assets
4,358
1,334
-------
-------
Capital and reserves
Called up share capital
30
30
Profit and loss account
4,328
1,304
-------
-------
Shareholders funds
4,358
1,334
-------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 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 his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 13 February 2025 , and are signed on behalf of the board by:
M Goldsbrough
Director
Company registration number: 13616737
BG Home Rentals Ltd
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Craigmore, 7 Station Road, Norton Village, Stockton-On-Tees, County Durham, TS20 1EA.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity, rounded to the nearest £1.
Revenue recognition
The turnover shown in the profit and loss account represents rents receivable during the year, exclusive of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
33% straight line
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
4. Tangible assets
Investment property
Equipment
Total
£
£
£
Cost
At 1 April 2023
261,097
261,097
Additions
2,127
2,127
---------
-------
---------
At 31 March 2024
261,097
2,127
263,224
---------
-------
---------
Depreciation
At 1 April 2023
Charge for the year
739
739
---------
-------
---------
At 31 March 2024
739
739
---------
-------
---------
Carrying amount
At 31 March 2024
261,097
1,388
262,485
---------
-------
---------
At 31 March 2023
261,097
261,097
---------
-------
---------
Investment property was valued at 31 March 2024 by the director at an open market valuation.
5. Creditors: amounts falling due within one year
2024
2023
£
£
Social security and other taxes
855
1,614
Other creditors
264,246
267,240
---------
---------
265,101
268,854
---------
---------