Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-316true2023-04-01falseBuying and selling of own real estate6trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 05064791 2023-04-01 2024-03-31 05064791 2022-04-01 2023-03-31 05064791 2024-03-31 05064791 2023-03-31 05064791 c:Director1 2023-04-01 2024-03-31 05064791 d:Buildings 2023-04-01 2024-03-31 05064791 d:Buildings 2024-03-31 05064791 d:Buildings 2023-03-31 05064791 d:Buildings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 05064791 d:MotorVehicles 2023-04-01 2024-03-31 05064791 d:MotorVehicles 2024-03-31 05064791 d:MotorVehicles 2023-03-31 05064791 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 05064791 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 05064791 d:FreeholdInvestmentProperty 2024-03-31 05064791 d:FreeholdInvestmentProperty 2023-03-31 05064791 d:CurrentFinancialInstruments 2024-03-31 05064791 d:CurrentFinancialInstruments 2023-03-31 05064791 d:Non-currentFinancialInstruments 2024-03-31 05064791 d:Non-currentFinancialInstruments 2023-03-31 05064791 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 05064791 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 05064791 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 05064791 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 05064791 d:ShareCapital 2024-03-31 05064791 d:ShareCapital 2023-03-31 05064791 d:RetainedEarningsAccumulatedLosses 2024-03-31 05064791 d:RetainedEarningsAccumulatedLosses 2023-03-31 05064791 c:FRS102 2023-04-01 2024-03-31 05064791 c:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 05064791 c:FullAccounts 2023-04-01 2024-03-31 05064791 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 05064791 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 05064791









BALLENTINE PROPERTIES LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
BALLENTINE PROPERTIES LTD
 
 
  
REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF BALLENTINE PROPERTIES LTD
FOR THE YEAR ENDED 31 MARCH 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Ballentine Properties Ltd for the year ended 31 March 2024 which comprise  the Balance sheet 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 Association of Chartered Certified Accountantswe are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal .com/uk/en/about-us /regulation/ethics /acca-rulebook.html.

This report is made solely to the director of Ballentine Properties Ltd in accordance with the terms of our engagement letter dated 13 January 2025Our work has been undertaken solely to prepare for your approval the financial statements of Ballentine Properties Ltd and state those matters that we have agreed to state to the director of Ballentine Properties Ltd in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal .com/content/dam/ACCA_Global /Technical /fact/technical-factsheet -163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ballentine Properties Ltd and its director for our work or for this report. 

It is your duty to ensure that Ballentine Properties Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Ballentine Properties Ltd. You consider that Ballentine Properties Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Ballentine Properties Ltd. 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 financial statements.

  



Fraser Russell Ltd
 
77 Francis Road
Edgbaston
Birmingham
B16 8SP

12 February 2025
Page 1

 
BALLENTINE PROPERTIES LTD
REGISTERED NUMBER: 05064791

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
182,980
140,645

Investment property
 5 
1,685,852
1,685,852

  
1,868,832
1,826,497

Current assets
  

Debtors: amounts falling due within one year
 6 
1,430,953
1,335,594

Cash at bank and in hand
 7 
90,165
100,390

  
1,521,118
1,435,984

Creditors: amounts falling due within one year
 8 
(1,750,165)
(1,649,385)

Net current liabilities
  
 
 
(229,047)
 
 
(213,401)

Total assets less current liabilities
  
1,639,785
1,613,096

Creditors: amounts falling due after more than one year
 9 
(1,018,427)
(1,066,226)

  

Net assets
  
621,358
546,870


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
621,258
546,770

  
621,358
546,870

Page 2

 
BALLENTINE PROPERTIES LTD
REGISTERED NUMBER: 05064791
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 12 February 2025.




Shaban Suleman
Director

The notes on pages 4 to 14 form part of these financial statements.
Page 3

 
BALLENTINE PROPERTIES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Ballentine Properties Limited is a company limited by shares incorporated in England within the United Kingdom, having a registeration of 05064791. The address of the registered office is 77 Francis Road, Edgbaston, Birmingham, B16 8SP. The principal activity of the company in the year under review was that of buying and selling of own real estate. 
The financial statements are presented in sterling which is functional currency of the company and rounded to the nearest £. 
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements has been prepared on a going concern basis which assumes that the company will continue to receive support from creditors and the director as and when required.

Page 4

 
BALLENTINE PROPERTIES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Profit and loss account in the same period as the related expenditure.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 5

 
BALLENTINE PROPERTIES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles
-
10%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 6

 
BALLENTINE PROPERTIES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

3.


Employees

2024
2023
£
£

Wages and salaries
54,731
59,212

54,731
59,212


The average monthly number of employees, including directors, during the year was 6 (2023 - 6).


4.


Tangible fixed assets





Freehold property
Motor vehicles
Total

£
£
£



Cost or valuation


At 1 April 2023
110,000
37,693
147,693


Additions
-
45,883
45,883



At 31 March 2024

110,000
83,576
193,576



Depreciation


At 1 April 2023
-
7,048
7,048


Charge for the year on owned assets
-
3,548
3,548



At 31 March 2024

-
10,596
10,596



Net book value



At 31 March 2024
110,000
72,980
182,980



At 31 March 2023
110,000
30,645
140,645

Page 7

 
BALLENTINE PROPERTIES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Investment property


Freehold investment property

£



Valuation


At 1 April 2023
1,685,852



At 31 March 2024
1,685,852

The 2024 valuations were made by Director, on an open market value for existing use basis.



At 31 March 2024



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:




6.


Debtors

2024
2023
£
£


Other debtors
1,430,953
1,335,594

1,430,953
1,335,594



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
90,165
100,390

90,165
100,390


Page 8

 
BALLENTINE PROPERTIES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
112,615
94,618

Other loans
261,390
261,390

Corporation tax
7,538
103,884

Other taxation and social security
-
12,940

Other creditors
1,248,622
1,096,553

Accruals and deferred income
120,000
80,000

1,750,165
1,649,385


Page 9

 
BALLENTINE PROPERTIES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
1,018,427
1,066,226

Total Bank Loans
1,018,427
1,066,226


The following liabilities were secured:




Page 10

 
BALLENTINE PROPERTIES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Details of security provided:

All loans and bank overdraft are secured via fixed and floating charge over the assets of the company.
Page 11

 
BALLENTINE PROPERTIES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

10.


Related party transactions

Page 12

 
BALLENTINE PROPERTIES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

10.Related party transactions (continued)

Shaban Suleman is the sole director and shareholder of Ballentine Properties Limited.
During the period, the director provided loans of £110,765 to the company.  As at the balance sheet date, the company owed the director £036 (2023: £503,271), which is shown in Other creditors due within one year. 
The above balances are payable on demand and therefore there are no significant differences between the value of the original loan amount and the initial carrying value of the loan as shown in the balance sheet.
Shaban Suleman also trades as Shaban Properties. 
During the period, the company received loans of £nil to Shaban Properties. At the balance sheet date, the company owed £369,358 (2023: £369,358) to Shaban Properties which is shown in Other creditors due within one year.
The above balances are payable on demand and therefore there are no significant differences between the value of the original loan amount and the initial carrying value of the loan as shown in the balance sheet.

Shaban Suleman is also the shareholder and director of Peckvale Limited. 
During the period, the company received loans of £Nil from Peckvale Limited. At the balance sheet date, the company owed £28,146 (2023: £28,146) to Peckvale Limited which is shown in Other creditors due within one year.
The above balance is payable on demand and therefore there are no significant differences between the value of the original loan amount and the initial carrying value of the loan as shown in the balance sheet. 

Shaban Suleman is also the shareholder and director of The Barns (N.E.) Limited. 
During the period, the company received loans of £nil from The Barns (N.E) Limited. At the balance sheet date, the company owed £98,549 (2023: £98,549) to The Barns (N.E.) Limited which is shown in Other creditors due within one year.
The above balance is payable on demand and therefore there are no significant differences between the value of the original loan amount and the initial carrying value of the loan as shown in the balance sheet. 

Shaban Suleman is also the shareholder and director of Growtime (2000) Limited. 
During the period, the company provided loans of £29,302 to Growtime (2000) Limited . At the balance sheet date, the company was owed £157,862 (2023: £128,560) from Growtime (2000) Limited which is shown in Other debtors due within one year.
The above balance is payable on demand and therefore there are no significant differences between the value of the original loan amount and the initial carrying value of the loan as shown in the balance sheet. 

Shaban Suleman is also the shareholder and director of Pecks House Development Limited. 
 
Page 13

 
BALLENTINE PROPERTIES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

10.Related party transactions (continued)



2024
2024
2024
2024
£
£
£
£

-
-
-
-


11.


Controlling party

The company is under the control of Shaban Suleman who is the sole director and shareholder of the company. 
 
Page 14