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Company No: 15209183 (England and Wales)

BADGERFACE PROPERTIES LIMITED

Unaudited Financial Statements
For the financial period from 13 October 2023 to 31 December 2024
Pages for filing with the registrar

BADGERFACE PROPERTIES LIMITED

Unaudited Financial Statements

For the financial period from 13 October 2023 to 31 December 2024

Contents

BADGERFACE PROPERTIES LIMITED

BALANCE SHEET

As at 31 December 2024
BADGERFACE PROPERTIES LIMITED

BALANCE SHEET (continued)

As at 31 December 2024
Note 31.12.2024
£
Fixed assets
Tangible assets 3 24,443
Investment property 4 293,651
318,094
Current assets
Cash at bank and in hand 1,654
1,654
Creditors: amounts falling due within one year 5 ( 460,245)
Net current liabilities (458,591)
Total assets less current liabilities (140,497)
Net liabilities ( 140,497)
Capital and reserves
Called-up share capital 6 2
Profit and loss account ( 140,499 )
Total shareholders' deficit ( 140,497)

For the financial period ending 31 December 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 Badgerface Properties Limited (registered number: 15209183) were approved and authorised for issue by the Board of Directors on 08 April 2025. They were signed on its behalf by:

Mr J L Phillips
Director
BADGERFACE PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 13 October 2023 to 31 December 2024
BADGERFACE PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 13 October 2023 to 31 December 2024
1. Accounting policies

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

General information and basis of accounting

Badgerface Properties 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 1 Collingwood Villas, Plymouth, PL1 5NZ, 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 £.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the receipt of rental income in the ordinary course of the company's activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company. Revenue is recognised in the period which occupancy occurred.

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.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Fixtures and fittings 10 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

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.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

Period from
13.10.2023 to
31.12.2024
Number
Monthly average number of persons employed by the Company during the period, including directors 0

3. Tangible assets

Fixtures and fittings Total
£ £
Cost
At 13 October 2023 0 0
Additions 26,618 26,618
At 31 December 2024 26,618 26,618
Accumulated depreciation
At 13 October 2023 0 0
Charge for the financial period 2,175 2,175
At 31 December 2024 2,175 2,175
Net book value
At 31 December 2024 24,443 24,443

4. Investment property

Investment property
£
Valuation
As at 13 October 2023 0
Additions 293,651
As at 31 December 2024 293,651

5. Creditors: amounts falling due within one year

31.12.2024
£
Amounts owed to directors 457,917
Accruals 2,328
460,245

6. Called-up share capital

31.12.2024
£
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each 2

7. Related party transactions

Transactions with entities in which the entity itself has a participating interest

31.12.2024
£
Write off of loan from associated company 32,750

During the year, advances of £198,431 were paid to an associated company. As at the year end, the balance owed was £32,750 and this was written off at the balance sheet date.