Silverfin false false 30/06/2024 01/07/2023 30/06/2024 B V Arthur 01/06/2015 S A Dawson 01/09/2015 26 March 2025 The principal activity of the Company during the financial year was development of residential property and general building work. 09617720 2024-06-30 09617720 bus:Director1 2024-06-30 09617720 bus:Director2 2024-06-30 09617720 2023-06-30 09617720 core:CurrentFinancialInstruments 2024-06-30 09617720 core:CurrentFinancialInstruments 2023-06-30 09617720 core:ShareCapital 2024-06-30 09617720 core:ShareCapital 2023-06-30 09617720 core:RetainedEarningsAccumulatedLosses 2024-06-30 09617720 core:RetainedEarningsAccumulatedLosses 2023-06-30 09617720 bus:OrdinaryShareClass1 2024-06-30 09617720 2023-07-01 2024-06-30 09617720 bus:FilletedAccounts 2023-07-01 2024-06-30 09617720 bus:SmallEntities 2023-07-01 2024-06-30 09617720 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 09617720 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 09617720 bus:Director1 2023-07-01 2024-06-30 09617720 bus:Director2 2023-07-01 2024-06-30 09617720 2022-07-01 2023-06-30 09617720 bus:OrdinaryShareClass1 2023-07-01 2024-06-30 09617720 bus:OrdinaryShareClass1 2022-07-01 2023-06-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 09617720 (England and Wales)

BBS CONSTRUCTION (CORNWALL) LIMITED

Unaudited Financial Statements
For the financial year ended 30 June 2024
Pages for filing with the registrar

BBS CONSTRUCTION (CORNWALL) LIMITED

Unaudited Financial Statements

For the financial year ended 30 June 2024

Contents

BBS CONSTRUCTION (CORNWALL) LIMITED

BALANCE SHEET

As at 30 June 2024
BBS CONSTRUCTION (CORNWALL) LIMITED

BALANCE SHEET (continued)

As at 30 June 2024
Note 2024 2023
£ £
Fixed assets
Investment property 3 1,270,000 0
1,270,000 0
Current assets
Stocks 174,574 326,173
Debtors 4 34,856 46,176
Cash at bank and in hand 10,744 30,600
220,174 402,949
Creditors: amounts falling due within one year 5 ( 314,371) ( 20,629)
Net current (liabilities)/assets (94,197) 382,320
Total assets less current liabilities 1,175,803 382,320
Net assets 1,175,803 382,320
Capital and reserves
Called-up share capital 6 50,000 50,000
Profit and loss account 1,125,803 332,320
Total shareholders' funds 1,175,803 382,320

For the financial year ending 30 June 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of BBS Construction (Cornwall) Limited (registered number: 09617720) were approved and authorised for issue by the Board of Directors on 26 March 2025. They were signed on its behalf by:

B V Arthur
Director
BBS CONSTRUCTION (CORNWALL) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
BBS CONSTRUCTION (CORNWALL) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

BBS Construction (Cornwall) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is The Signals, Mount Pleasant Road, Camborne, TR14 7RF, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss.
The directors have considered the nature of these properties during the financial year and confirmed that a change in use from stock to investment property is appropriate. The properties have then been revalued to their fair value recognised in profit.

Stocks

Stock is stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Investment property

Investment property
£
Valuation
As at 01 July 2023 0
Fair value movement 1,118,401
Transfers to and from inventories 151,599
As at 30 June 2024 1,270,000

Valuation

A full market valuation of investment property was completed by 30 June 2024 at the Balance Sheet date. The fair value of the company's residential investment property at 30 June 2024 have been arrived at on the basis of valuations given by the company directors. The valuations performed were arrived at by reference to market evidence of transaction prices for similar properties.

Historic cost

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

2024 2023
£ £
Historic cost 151,599 0

4. Debtors

2024 2023
£ £
Trade debtors 3,366 8,206
Other debtors 31,490 37,970
34,856 46,176

5. Creditors: amounts falling due within one year

2024 2023
£ £
Taxation and social security 276,594 4,278
Other creditors 37,777 16,351
314,371 20,629

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
50,000 Ordinary shares of £ 1.00 each 50,000 50,000

7. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
B V Arthur 0 6,142

The loan is unsecured, repayable on demand and interest has been charged at 2.5%. £6,142 was repaid during the year.