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COMPANY REGISTRATION NUMBER: 14262843
Bardsley Property Holdings Ltd
Unaudited Financial Statements
31 July 2024
Bardsley Property Holdings Ltd
Financial Statements
Year ended 31 July 2024
Contents
Page
Directors' report
1
Statement of comprehensive income
2
Statement of financial position
3
Statement of changes in equity
4
Notes to the financial statements
5
Bardsley Property Holdings Ltd
Directors' Report
Year ended 31 July 2024
The directors present their report and the unaudited financial statements of the company for the year ended 31 July 2024 .
Principal activities
The company was incorprated on 28th July 2022 and remaind dormant until 1st January 2023. The principal activity of the company during the period was that of property rental.
Directors
The directors who served the company during the year were as follows:
Mr I Bardsley
Mrs P Bardsley
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 25 April 2025 and signed on behalf of the board by:
Mrs P Bardsley
Director
Registered office:
Prince of Wales House
18/19 Salmon Fields
Business Village
Royton
Oldham
OL2 6HT
Bardsley Property Holdings Ltd
Statement of Comprehensive Income
Year ended 31 July 2024
Period from
Year to
28 Jul 22 to
31 Jul 24
31 Jul 23
Note
£
£
Turnover
7,500
4,375
-------
-------
Gross profit
7,500
4,375
Administrative expenses
4,347
5,534
-------
-------
Operating profit/(loss)
3,153
( 1,159)
Interest payable and similar expenses
4
6,359
5,620
-------
-------
Loss before taxation
( 3,206)
( 6,779)
Tax on loss
-------
-------
Loss for the financial year and total comprehensive income
( 3,206)
( 6,779)
-------
-------
All the activities of the company are from continuing operations.
The company has no other recognised items of income and expenses other than the results for the year as set out above.
Bardsley Property Holdings Ltd
Statement of Financial Position
31 July 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
208,198
208,198
Current assets
Cash at bank and in hand
3,836
682
Creditors: amounts falling due within one year
6
11,305
4,784
--------
-------
Net current liabilities
7,469
4,102
---------
---------
Total assets less current liabilities
200,729
204,096
Creditors: amounts falling due after more than one year
7
210,614
210,775
---------
---------
Net liabilities
( 9,885)
( 6,679)
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 9,985)
( 6,779)
-------
-------
Shareholders deficit
( 9,885)
( 6,679)
-------
-------
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 31 July 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 2 April 2025 , and are signed on behalf of the board by:
Mr I Bardsley
Mrs P Bardsley
Director
Director
Company registration number: 14262843
Bardsley Property Holdings Ltd
Statement of Changes in Equity
Year ended 31 July 2024
Called up share capital
Profit and loss account
Total
£
£
£
At 28 July 2022
Loss for the year
( 6,779)
( 6,779)
----
-------
-------
Total comprehensive income for the year
( 6,779)
( 6,779)
Issue of shares
100
100
----
-------
-------
Total investments by and distributions to owners
100
100
At 31 July 2023
100
( 6,779)
( 6,679)
Loss for the year
( 3,206)
( 3,206)
----
-------
-------
Total comprehensive income for the year
( 3,206)
( 3,206)
----
-------
-------
At 31 July 2024
100
( 9,985)
( 9,885)
----
-------
-------
Bardsley Property Holdings Ltd
Notes to the Financial Statements
Year ended 31 July 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Prince of Wales House, 18/19 Salmon Fields, Business Village, Royton, Oldham, OL2 6HT.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances .
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Interest payable and similar expenses
Period from
Year to
28 Jul 22 to
31 Jul 24
31 Jul 23
£
£
Interest on banks loans and overdrafts
6,359
5,620
-------
-------
5. Tangible assets
Long leasehold property
£
Cost
At 1 August 2023 and 31 July 2024
208,198
---------
Depreciation
At 1 August 2023 and 31 July 2024
---------
Carrying amount
At 31 July 2024
208,198
---------
At 31 July 2023
208,198
---------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
11,305
4,784
--------
-------
7. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
152,114
152,275
Other creditors
58,500
58,500
---------
---------
210,614
210,775
---------
---------
The mortgage shown in the note above is secured by a fixed charge over all assets of the company.
8. Directors' advances, credits and guarantees
Included within creditors due within one year are loans from directors totalling £11,305 on which no interest is being charged. The loans are repayable in full or in part on demand.
9. Related party transactions
Mr I Bardsley and Mrs P Bardsley are also directrs and Shareholders of Ambercase Management Ltd, included in other creditors is a loan of £58,500 owed to the company .