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Registered number: 04504002










BUSINESS VILLAGE LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

 
BUSINESS VILLAGE LIMITED
 

CONTENTS



Page
Balance sheet
 
1 - 2
Notes to the financial statements
 
3 - 7


 
BUSINESS VILLAGE LIMITED
REGISTERED NUMBER: 04504002

BALANCE SHEET
AS AT 31 AUGUST 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
872
348

Investments
 5 
1,568,866
1,568,867

Investment property
 6 
11,315,423
10,548,471

  
12,885,161
12,117,686

Current assets
  

Debtors: amounts falling due within one year
 7 
1,119,060
1,573,858

Cash at bank and in hand
  
210,535
1,440,142

  
1,329,595
3,014,000

Creditors: amounts falling due within one year
 8 
(5,452,314)
(5,230,728)

Net current liabilities
  
 
 
(4,122,719)
 
 
(2,216,728)

Total assets less current liabilities
  
8,762,442
9,900,958

Creditors: amounts falling due after more than one year
 9 
(333,459)
(2,135,088)

Provisions for liabilities
  

Deferred tax
  
(43,241)
-

  
 
 
(43,241)
 
 
-

Net assets
  
8,385,742
7,765,870


Capital and reserves
  

Called up share capital 
  
10,000
10,000

Profit and loss account
  
8,375,742
7,755,870

  
8,385,742
7,765,870


Page 1

 
BUSINESS VILLAGE LIMITED
REGISTERED NUMBER: 04504002
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 14 May 2025.




A.J. Gaymond
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
BUSINESS VILLAGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1.


General information

Business Village Limited (the Company) is a private Company limited by shares, incorporated in England. The address of the registered office and principal place of business is 8 Wychwood Court, Cotswold Business Village, Moreton In Marsh, Gloucestershire, GL56 0JQ.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Exemption from preparing consolidated financial statements

The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

 
2.3

Revenue

Turnover comprises revenue recognised by the company in respect of rents, service charges and management charges receivable for the period. Rents and service charges from investment properties are accounted for in the period in which they accrue. Management charges are recognised when the performance criteria have been met.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
33 1/3% straight-line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 3

 
BUSINESS VILLAGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.5

Investment property

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and invesment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the statement of income and retained earnings.

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders.

 
2.10

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.11

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 4

 
BUSINESS VILLAGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.12

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the statement of income and retained earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, execpt that:
 - The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits: and
 - Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Tangible fixed assets





Office equipment

£



Cost 


At 1 September 2023
2,499


Additions
1,208



At 31 August 2024

3,707



Depreciation


At 1 September 2023
2,152


Charge for the year on owned assets
683



At 31 August 2024

2,835



Net book value



At 31 August 2024
872



At 31 August 2023
347

Page 5

 
BUSINESS VILLAGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

5.


Fixed asset investments





Investments in subsidiary companies

£



Cost 


At 1 September 2023
1,568,867


Disposals
(1)



At 31 August 2024
1,568,866





Subsidiary undertakings


The following were subsidiary undertakings of the Company:

Name

Principal activity

Class of shares

Holding

John Bryant & Sons Limited
Management and letting of property
Ordinary
100%
Cotswold Business Village Limited
Dormant
Ordinary
100%
Cotswold Business Village Management Limited
Dormant
Ordinary
100%


6.


Investment property


Freehold investment property

£



Valuation


At 1 September 2023
10,548,471


Additions at cost
49,988


Surplus on revaluation
716,964



At 31 August 2024
11,315,423

A first legal charge over the freehold property has been offered to Lloyds Bank PLC as security against the Company's bank loans.

The 2024 valuations were made by the directors, on an open market value for existing use basis.

The historic cost of freehold investment property is £10,067,351 (2023: £10,017,363).




Page 6

 
BUSINESS VILLAGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

7.


Debtors

2024
2023
£
£


Trade debtors
8,070
37,358

Amounts owed by group undertakings
1,110,990
1,380,990

Other debtors
-
7,573

Deferred taxation
-
147,937

1,119,060
1,573,858



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans (secured)
1,801,629
813,526

Trade creditors
27,888
14,821

Amounts owed to group undertakings
2
2

Amounts owed to related undertakings
3,388,467
4,181,802

Corporation tax
89,466
117,270

Other taxation and social security
54,443
38,762

Other creditors
20,081
12,678

Accruals and deferred income
70,338
51,867

5,452,314
5,230,728



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans (secured)
333,459
2,135,088


Bank loans due after more than 5 years was £Nil (2023: £Nil).
The bank loans are secured by fixed and floating charges over the company's investment property and that of its subsidiary.


10.


Related party transactions

During the year, the Company was charged management charges of £200,000 (2023: £200,000) from companies which are under the control of the directors. 

Page 7