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Registration number: 04566370

Bishop House Properties Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2025

 

Bishop House Properties Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Bishop House Properties Limited

Company Information

Directors

Mr N J Morrell

Mr W A Williams

Company secretary

Mr W A Williams

Registered office

Bishop House
10 Wheat Street
Brecon
Powys
LD3 7DG

Bankers

Santander UK plc
PO Box 382
Prescot Street
London

Accountants

W J James & Co
Chartered AccountantsBishop House
10 Wheat Street
Brecon
Powys
LD3 7DG

 

Bishop House Properties Limited

(Registration number: 04566370)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

5

787,098

787,397

Current assets

 

Debtors

6

1,152

986

Cash at bank and in hand

 

29,020

21,925

 

30,172

22,911

Creditors: Amounts falling due within one year

7

(220,403)

(238,494)

Net current liabilities

 

(190,231)

(215,583)

Net assets

 

596,867

571,814

Capital and reserves

 

Called up share capital

1,000

1,000

Fair value reserve

76,509

76,509

Retained earnings

519,358

494,305

Shareholders' funds

 

596,867

571,814

For the financial year ending 31 March 2025 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 12 May 2025 and signed on its behalf by:
 

.........................................
Mr N J Morrell
Director

.........................................
Mr W A Williams
Company secretary and director

 

Bishop House Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

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:
Bishop House
10 Wheat Street
Brecon
Powys
LD3 7DG

These financial statements were authorised for issue by the Board on 12 May 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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1.

Exemption from preparing group accounts

The company has taken advantage of the exemption in section 398 of the Companies Act 2006 from the requirement to prepare consolidated financial statements, on the grounds that it is a small sized group.

Revenue recognition

Turnover comprises the rent receivable from the company's investment properties.

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.

 

Bishop House Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

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

Office equipment

33% on cost

Investment property

Investment properties are carried at fair value. Gains or losses are recognised in the income statement, and deferred taxation is provided on any such gains at the rate expected to be applied when the properties are sold.

Investments

Investments in subsidiaries are stated at cost less provision for any permanent diminution in value.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

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.

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.

 

Bishop House Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2024 - 0).

4

Profit before tax

Arrived at after charging/(crediting)

2025
£

2024
£

Depreciation expense

300

300

5

Tangible assets

Land and buildings
£

Office equipment
£

Total
£

Cost or valuation

At 1 April 2024

786,798

899

787,697

At 31 March 2025

786,798

899

787,697

Depreciation

At 1 April 2024

-

300

300

Charge for the year

-

299

299

At 31 March 2025

-

599

599

Carrying amount

At 31 March 2025

786,798

300

787,098

At 31 March 2024

786,798

599

787,397

Included within the net book value of land and buildings above is £786,798 (2024 - £786,798) in respect of freehold land and buildings.
 

Revaluation

The fair value of the company's investment properties was revalued on 31 March 2025. An independent valuer was not involved.

The investment properties were valued by the directors using an open market valuation.
.
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £710,289 (2024 - £710,289).

 

Bishop House Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

6

Debtors

Current

2025
£

2024
£

Prepayments

1,152

986

 

1,152

986

7

Creditors

Creditors: amounts falling due within one year

2025
£

2024
£

Due within one year

Taxation and social security

5,947

6,638

Other creditors

214,456

231,856

220,403

238,494