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Registered number: 09837451
BB Property Investment Limited
Unaudited Financial Statements
For The Year Ended 31 October 2024
Optimise Accountants Ltd
Office 15 Bramley House 2a
Bramley Road
Long Eaton
Nottinghamshire
NG10 3SX
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 09837451
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 1,005,000 1,005,000
1,005,000 1,005,000
CURRENT ASSETS
Debtors 5 15,275 7,571
Cash at bank and in hand 152,045 14,534
167,320 22,105
Creditors: Amounts Falling Due Within One Year 6 (291,902 ) (187,651 )
NET CURRENT ASSETS (LIABILITIES) (124,582 ) (165,546 )
TOTAL ASSETS LESS CURRENT LIABILITIES 880,418 839,454
Creditors: Amounts Falling Due After More Than One Year 7 (794,486 ) (776,955 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (8,215 ) (8,215 )
NET ASSETS 77,717 54,284
CAPITAL AND RESERVES
Called up share capital 9 85 100
Capital redemption reserve 15 -
Fair value reserve 10 35,024 35,024
Profit and Loss Account 42,593 19,160
SHAREHOLDERS' FUNDS 77,717 54,284
Page 1
Page 2
For the year ending 31 October 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr David Clifton Burraway
Director
10/03/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
BB Property Investment Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09837451 . The registered office is Office 15 Bramley House 2a Bramley Road, Long Eaton, Nottinghamshire, NG10 3SX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of 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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Investment Properties
All investment properties are carried at fair value determined annually 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 for. Changes in fair value are recognised in the profit and loss account.
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: NIL)
1 -
4. Investment Property
2024
£
Fair Value
As at 1 November 2023 and 31 October 2024 1,005,000
Page 3
Page 4
5. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 12,676 501
Other debtors 2,599 7,070
15,275 7,571
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - (35 )
Corporation tax 6,106 4,402
Other creditors 4,511 4,472
Accruals and deferred income - 1,251
Directors' loan accounts 281,285 177,561
291,902 187,651
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 794,486 776,955
8. Secured Creditors
Of the creditors the following amounts are secured.
2024 2023
£ £
Bank loans and overdrafts 794,486 776,955
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 85 100
During the year, 15 ordinary shares were cancelled, and an equivalent amount was transferred to the Capital Redemption Reserve.
10. Reserves
Fair Value Reserve
£
As at 1 November 2023 35,024
As at 31 October 2024 35,024
11. Ultimate Controlling Party
The company's ultimate controlling party is Mr David Clifton Burraway by virtue of his ownership of 100% of the issued share capital in the company.
Page 4