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Registered number: 11538826
Bodenspaces Limited
Unaudited Financial Statements
For The Year Ended 31 August 2024
Grenfell James Associates Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 11538826
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,471 1,721
Investment Properties 5 1,280,267 1,162,702
1,281,738 1,164,423
CURRENT ASSETS
Debtors 6 250,348 256,575
Investments 7 1 1
Cash at bank and in hand 6,612 3,901
256,961 260,477
Creditors: Amounts Falling Due Within One Year 8 (496,314 ) (492,923 )
NET CURRENT ASSETS (LIABILITIES) (239,353 ) (232,446 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,042,385 931,977
Creditors: Amounts Falling Due After More Than One Year 9 (880,124 ) (880,124 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (24,325 ) (10,150 )
NET ASSETS 137,936 41,703
CAPITAL AND RESERVES
Called up share capital 10 2 2
Fair value reserve 11 211,512 153,576
Profit and Loss Account (73,578 ) (111,875 )
SHAREHOLDERS' FUNDS 137,936 41,703
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For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr M C Boden
Director
28/05/2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Bodenspaces Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11538826 . The registered office is 6 Northvale Close, Kenilworth, CV8 2EN.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The Financial Statements have been prepared on the Going Concern basis due to the ongoing financial
support of the Directors.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 33% SLM
Computer Equipment 33% SLM
2.5. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment 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 for. Changes in fair value are recognised in the profit and loss account.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost or Valuation
As at 1 September 2023 2,468 - 2,468
Additions 422 230 652
As at 31 August 2024 2,890 230 3,120
Depreciation
As at 1 September 2023 747 - 747
Provided during the period 896 6 902
As at 31 August 2024 1,643 6 1,649
...CONTINUED
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Net Book Value
As at 31 August 2024 1,247 224 1,471
As at 1 September 2023 1,721 - 1,721
5. Investment Property
2024
£
Fair Value
As at 1 September 2023 1,162,702
Additions 25,149
Revaluations 92,416
As at 31 August 2024 1,280,267
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 6,450 6,450
Amounts owed by group undertakings 143,024 148,934
Amounts owed by participating interests 100,506 100,456
Other debtors 368 735
250,348 256,575
7. Current Asset Investments
2024 2023
£ £
Shares in subsidiaries 1 1
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other loans 24,532 24,497
Amounts owed to group undertakings 65,119 53,120
Amounts owed to participating interests 68,426 68,426
Other creditors 338,237 346,880
496,314 492,923
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9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 880,124 880,124
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
11. Reserves
Fair Value Reserve
£
As at 1 September 2023 153,576
Transfer to profit and loss 57,936
As at 31 August 2024 211,512
12. Related Party Transactions
During the year the company was advanced the sum of £68,426.19 (2023, £68,426.19) by
Tennisolutions Limited, a company under the control of the director. The loan is interest free and
repayable on demand.
During the year the company advanced the sum of £100,505.69 (2023, £100,455.69)to Boden
Mcmahon Developments Ltd, a company under the common control of the director. The loan is
interest free and repayable on demand.
During the year the company was advanced the sum of £29,720 by Boden Property Company Ltd, a
company under the common control of the director. The loan was interest free and repayable on
demand.
13. Ultimate Controlling Party
The company's ultimate controlling party is Mr M Boden by virtue of his ownership of a controling share of the issued share capital in the Boden Property Group Ltd.
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