4 4 Bristol Road Properties Limited 6007794 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is property investment. Digita Accounts Production Advanced 6.30.9574.0 true true 6007794 2023-04-01 2024-03-31 6007794 2024-03-31 6007794 bus:OrdinaryShareClass1 bus:CumulativeShares 2024-03-31 6007794 bus:OrdinaryShareClass2 bus:CumulativeRedeemableShares 2024-03-31 6007794 core:CurrentFinancialInstruments 2024-03-31 6007794 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 6007794 core:FurnitureFittings 2024-03-31 6007794 core:PlantMachinery 2024-03-31 6007794 bus:SmallEntities 2023-04-01 2024-03-31 6007794 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 6007794 bus:FilletedAccounts 2023-04-01 2024-03-31 6007794 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 6007794 bus:RegisteredOffice 2023-04-01 2024-03-31 6007794 bus:CompanySecretaryDirector1 2023-04-01 2024-03-31 6007794 bus:Director1 2023-04-01 2024-03-31 6007794 bus:Director3 2023-04-01 2024-03-31 6007794 bus:Director4 2023-04-01 2024-03-31 6007794 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-04-01 2024-03-31 6007794 bus:OrdinaryShareClass2 bus:CumulativeRedeemableShares 2023-04-01 2024-03-31 6007794 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 6007794 bus:Agent1 2023-04-01 2024-03-31 6007794 core:FurnitureFittings 2023-04-01 2024-03-31 6007794 core:PlantMachinery 2023-04-01 2024-03-31 6007794 core:Vehicles 2023-04-01 2024-03-31 6007794 countries:EnglandWales 2023-04-01 2024-03-31 6007794 2023-03-31 6007794 core:FurnitureFittings 2023-03-31 6007794 core:PlantMachinery 2023-03-31 6007794 2021-11-01 2023-03-31 6007794 2023-03-31 6007794 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-03-31 6007794 bus:OrdinaryShareClass2 bus:CumulativeRedeemableShares 2023-03-31 6007794 core:CurrentFinancialInstruments 2023-03-31 6007794 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 6007794 core:FurnitureFittings 2023-03-31 6007794 core:PlantMachinery 2023-03-31 6007794 core:PlantMachinery 2021-11-01 2023-03-31 xbrli:pure iso4217:GBP xbrli:shares

Registration number: 6007794

Bristol Road Properties Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Bristol Road Properties Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Bristol Road Properties Limited

Company Information

Directors

CT Hatt

Mrs S J McConville

R J Kane

W E K Kane

Company secretary

Mrs S J McConville

Registered office

Unit 111 Hartlebury Trading Estate
Hartlebury
Worcestershire
DY10 4JB

Accountants

Clement Rabjohns Limited
Chartered Accountants111/113 High Street
Evesham
Worcestershire
WR11 4XP

 

Bristol Road Properties Limited

(Registration number: 6007794)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

5

3,500,000

3,500,000

Current assets

 

Debtors

6

26,023

116,274

Cash at bank and in hand

 

-

11,658

 

26,023

127,932

Creditors: Amounts falling due within one year

7

(1,893,218)

(1,931,945)

Net current liabilities

 

(1,867,195)

(1,804,013)

Total assets less current liabilities

 

1,632,805

1,695,987

Provisions for liabilities

(104,768)

(104,768)

Net assets

 

1,528,037

1,591,219

Capital and reserves

 

Called up share capital

8

160,996

160,996

Capital redemption reserve

840,000

840,000

Revaluation reserve

900,708

900,708

Retained earnings

(373,667)

(310,485)

Shareholders' funds

 

1,528,037

1,591,219

For the financial 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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 14 March 2025 and signed on its behalf by:
 

.........................................
Mrs S J McConville
Company secretary and director

 

Bristol Road Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 111 Hartlebury Trading Estate
Hartlebury
Worcestershire
DY10 4JB
United Kingdom

These financial statements were authorised for issue by the Board on 14 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Bristol Road Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

5% straight line

Fixtures and equipment

15% reducing balance

Motor vehicles

15% reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Bristol Road Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 4).

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 April 2023

4,250

175,266

179,516

At 31 March 2024

4,250

175,266

179,516

Depreciation

At 1 April 2023

4,250

175,266

179,516

At 31 March 2024

4,250

175,266

179,516

Carrying amount

At 31 March 2024

-

-

-

At 31 March 2023

-

-

-

Impairment

Plant and machinery
The amount of impairment loss included in profit or loss is £Nil (2023 - £146,069).

5

Investment properties

2024
£

At 1 April

3,500,000

At 31 March

3,500,000

The property was valued by the Directors in August 2023, based on an external professional valuation and they do not believe has materially changed since this date. The property is currently held for sale.

 

Bristol Road Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

6

Debtors

Current

2024
£

2023
£

Trade debtors

4,566

98,842

Other debtors

21,457

17,432

 

26,023

116,274

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

938,164

937,656

Trade creditors

 

49,945

124,418

Taxation and social security

 

21,382

49,548

Accruals and deferred income

 

85,733

-

Other creditors

 

797,994

820,323

 

1,893,218

1,931,945

Included within other creditors is an amount of £648,990 (2023 £648,990) which, is a guaranor settlement in respect of Pembar Limited, a connected company that is no longer trading.

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

996

996

996

996

Redeemable ordinary shares of £1 each

560,000

560,000

560,000

560,000

560,996

560,996

560,996

560,996

 

Bristol Road Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

The special rights and restrictions attached to and imposed on the Ordinary Shares and the Redeemable Ordinary Shares respectively are as follows;

Income

The holders of Redeemable Ordinary shares shall only be entitled to dividends as approved by unanimous vote of the holders of Ordinary shares.

Capital

In the event of winding up of the company or other return of capital the assets of the Company remaining after payment of its debts and liabilities and of the costs charges and expenses of such winding up shall be applied as follows;

1) In repaying to holders of Redeemable Ordinary Shares such amounts as are paid up or credited as paid up on the Redeemable Ordinary Shares.
2) The balance of any assets remaining after 1 above shall be distributed amongst the holders of Ordinary Shares in proportion to amounts paid up or credited as paid up on the Ordinary Shares.

Voting rights

The holders of the Redeemable Ordinary Shares shall have no voting rights.

Redemption

The directors shall have the authority to redeem the Redeemable Ordinary Shares on behalf of the Company, at any time they see fit. The holders of the Redeemable Ordinary Shares shall not have an option to demand that the shares shall be redeemed.

9

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

-

937,656

Bank overdrafts

932,588

-

Other borrowings

5,576

-

938,164

937,656

Bank borrowings are secured by fixed charges on the company's investment properties, by an unlimited debenture from the company, by an an unlimited debenture from Belward Limited (a company in which the directors and their families have beneficial interests), and by an all monies joint and several guarantee from the directors.

 

Bristol Road Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

10

Related party transactions

Other transactions with directors

As at 31 March 2024 and 2023, the company owed one of the directors £150,000.