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REGISTERED NUMBER: 02971349 (England and Wales)















Financial Statements for the Year Ended 31 August 2023

for

BPS Developments Limited

BPS Developments Limited (Registered number: 02971349)






Contents of the Financial Statements
for the Year Ended 31 August 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


BPS Developments Limited

Company Information
for the Year Ended 31 August 2023







DIRECTORS: E Mahoney
D M Mahoney
M Mahoney
Mrs D Shields





SECRETARY: Mrs D Shields





REGISTERED OFFICE: 1 Derby Buildings
Wavertree Road
Liverpool
Merseyside
L7 3ES





REGISTERED NUMBER: 02971349 (England and Wales)





ACCOUNTANTS: Kinsella Clarke Limited
61 Stanley Road
Bootle
Merseyside
L20 7BZ

BPS Developments Limited (Registered number: 02971349)

Statement of Financial Position
31 August 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 22,977,436 24,375,516
Investments 5 50,000 50,000
23,027,436 24,425,516

CURRENT ASSETS
Stocks 5,831 4,839
Debtors 6 1,882,885 335,040
Cash at bank and in hand 53,101 72,998
1,941,817 412,877
CREDITORS
Amounts falling due within one year 7 1,583,507 1,467,032
NET CURRENT ASSETS/(LIABILITIES) 358,310 (1,054,155 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

23,385,746

23,371,361

CREDITORS
Amounts falling due after more than one
year

8

(3,569,579

)

(3,643,208

)

PROVISIONS FOR LIABILITIES (2,685,834 ) (2,702,786 )
NET ASSETS 17,130,333 17,025,367

CAPITAL AND RESERVES
Called up share capital 2 2
Fair value reserve 13,254,989 13,254,989
Retained earnings 3,875,342 3,770,376
SHAREHOLDERS' FUNDS 17,130,333 17,025,367

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

BPS Developments Limited (Registered number: 02971349)

Statement of Financial Position - continued
31 August 2023


The 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, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 March 2025 and were signed on its behalf by:





D M Mahoney - Director


BPS Developments Limited (Registered number: 02971349)

Notes to the Financial Statements
for the Year Ended 31 August 2023

1. STATUTORY INFORMATION

BPS Developments Limited 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.

2. ACCOUNTING POLICIES

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

Turnover
Turnover represents net rents receivable and sales of goods, excluding value added tax.


Tangible fixed assets
In line with accounting standards for investment companies, no depreciation has been charged on land and buildings.

Depreciation has been provided on other tangible assets at the following rates in order to write off each asset over it's estimated useful life:-

Plant and machinery etc - 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

BPS Developments Limited (Registered number: 02971349)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 35 (2022 - 33 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 September 2022 21,953,544 2,947,995 24,901,539
Additions - 166,008 166,008
Disposals - (1,542,681 ) (1,542,681 )
At 31 August 2023 21,953,544 1,571,322 23,524,866
DEPRECIATION
At 1 September 2022 - 526,023 526,023
Charge for year - 21,407 21,407
At 31 August 2023 - 547,430 547,430
NET BOOK VALUE
At 31 August 2023 21,953,544 1,023,892 22,977,436
At 31 August 2022 21,953,544 2,421,972 24,375,516

Cost or valuation at 31 August 2023 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2007 20,580,640 - 20,580,640
Valuation in 2014 (9,661,699 ) - (9,661,699 )
Cost 11,034,603 1,571,322 12,605,925
21,953,544 1,571,322 23,524,866

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 September 2022
and 31 August 2023 50,000
NET BOOK VALUE
At 31 August 2023 50,000
At 31 August 2022 50,000

BPS Developments Limited (Registered number: 02971349)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade debtors 216,446 263,324
Other debtors 1,666,439 71,716
1,882,885 335,040

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Bank loans and overdrafts 67,239 275,106
Trade creditors 766,828 663,474
Taxation and social security 251,182 281,164
Other creditors 498,258 247,288
1,583,507 1,467,032

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.23 31.8.22
£    £   
Bank loans 1,043,309 1,172,073
Other creditors 2,526,270 2,471,135
3,569,579 3,643,208

Amounts falling due in more than five years:

Repayable by instalments
Bank Loan > 5 Years - 303,106

9. SECURED DEBTS

The following secured debts are included within creditors:

31.8.23 31.8.22
£    £   
Bank loans 1,072,267 1,427,648

Mortgage debenture incorporating a fixed and floating charge over the assets of the company and joint and several guarantee limited to £50,000 from the directors of the company.

First legal charge on the upper floors of 16-20 Colquitt Street, Liverpool.

First legal charge over Royal Institution building, Colquitt Street, Liverpool.

First legal charge over lease to floors 1-5, 58-60 Lime Street, Liverpool.

First legal charge over Ladywell House, 59 Marsh Lane, Preston.

First legal charge over land at Travers Entry, Bold, St Helens.

First legal charge over former Arriva Bus Depot, Wilson Road, Huyton, Liverpool

BPS Developments Limited (Registered number: 02971349)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

10. RELATED PARTY DISCLOSURES

The company owns a 33.33% shareholding in Hope Street Developments Limited, an associated company, controlled by E Mahoney and D Mahoney.

During the year the company incurred costs to Copelare Limited for management services of £397,785 (2021: £177,689) a company in which E Mahoney has a material interest in.

11. TRANSFER OF ASSETS

During the financial year property costs were transferred to a subsidiary company inline with the agreement in place between the companies. This transfer from 2021 has not altered the shareholder funds for this company. As such amended accounts have not been prepared.