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Company No: 11414949 (England and Wales)

BARD4 LIMITED

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

BARD4 LIMITED

Unaudited Financial Statements

For the financial year ended 30 June 2024

Contents

BARD4 LIMITED

COMPANY INFORMATION

For the financial year ended 30 June 2024
BARD4 LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 June 2024
DIRECTORS D Massingham
B O'Connor
REGISTERED OFFICE 2 Leman Street
London
E1W 9US
United Kingdom
COMPANY NUMBER 11414949 (England and Wales)
ACCOUNTANT Gravita II LLP
Aldgate Tower
2 Leman Street
London
E1 8FA
United Kingdom
BARD4 LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 June 2024
BARD4 LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 June 2024
Note 30.06.2024 30.06.2023
£ £
Fixed assets
Tangible assets 3 10,891 90,322
Investment property 4 1,101,947 749,158
1,112,838 839,480
Current assets
Debtors 5 4,273 1,822
Cash at bank and in hand 11,458 76,834
15,731 78,656
Creditors: amounts falling due within one year 6 ( 661,416) ( 613,330)
Net current liabilities (645,685) (534,674)
Total assets less current liabilities 467,153 304,806
Creditors: amounts falling due after more than one year 7 ( 474,536) ( 299,927)
Net (liabilities)/assets ( 7,383) 4,879
Capital and reserves
Called-up share capital 8 400 400
Profit and loss account ( 7,783 ) 4,479
Total shareholders' (deficit)/funds ( 7,383) 4,879

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 Bard4 Limited (registered number: 11414949) were approved and authorised for issue by the Board of Directors on 16 April 2025. They were signed on its behalf by:

D Massingham
Director
BARD4 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
BARD4 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

Bard4 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 2 Leman Street, London, E1W 9US, 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 £.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover

Turnover represents rent and developers subsidies receivable.

Taxation

Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expenses that are taxable or deductible in other years and it further excludes items that never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted pr substantively enacted by the reporting end 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 or reducing balance basis over its expected useful life, as follows:

Assets under construction not depreciated
Fixtures and fittings 5 years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively.

Leases


The Company as lessor
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis the term of the relevant lease except where another more systematic. basis is more presentative of the time pattern in which economic benefits from the leases asset are consumed.

Impairment of assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use,the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

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, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

30.06.2024 30.06.2023
Number Number
Monthly average number of persons employed by the company during the year, including directors 2 2

3. Tangible assets

Assets under construc-
tion
Fixtures and fittings Total
£ £ £
Cost
At 01 July 2023 85,779 7,331 93,110
Additions 0 9,768 9,768
Transfers ( 85,779) 0 ( 85,779)
At 30 June 2024 0 17,099 17,099
Accumulated depreciation
At 01 July 2023 0 2,788 2,788
Charge for the financial year 0 3,420 3,420
At 30 June 2024 0 6,208 6,208
Net book value
At 30 June 2024 0 10,891 10,891
At 30 June 2023 85,779 4,543 90,322

4. Investment property

Investment property
£
Valuation
As at 01 July 2023 749,158
Additions 352,789
As at 30 June 2024 1,101,947

Investment properties are initially recognised at cost and then adjusted to fair value at the year end date. It is the directors' assessment that the above reflects the fair value of the property.

5. Debtors

30.06.2024 30.06.2023
£ £
Other debtors 4,273 1,822

6. Creditors: amounts falling due within one year

30.06.2024 30.06.2023
£ £
Taxation and social security 0 1,056
Other creditors 661,416 612,274
661,416 613,330

Other creditors includes amounts owing to the shareholders of £648,496 (2023: £607,156) by way of a loan. The amounts owing are interest free and repayable on demand.

7. Creditors: amounts falling due after more than one year

30.06.2024 30.06.2023
£ £
Other creditors 474,536 299,927

Other creditors includes interest only mortgages secured by way of a fixed charge over the value of the property and guaranteed by the directors as guarantors. The full amount is repayable in greater than 1 year.

8. Called-up share capital

30.06.2024 30.06.2023
£ £
Allotted, called-up and fully-paid
100 Ordinary A shares of £ 1.00 each 100 100
100 Ordinary B shares of £ 1.00 each 100 100
100 Ordinary C shares of £ 1.00 each 100 100
100 Ordinary D shares of £ 1.00 each 100 100
400 400

There are four classes of ordinary shares. There are no restrictions on the distribution of dividends and repayment of capital.