Registered number
10076398
BC Property Limited
Filleted Accounts
31 March 2025
BC Property Limited
Registered number: 10076398
Balance Sheet
as at 31 March 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 1,625,496 1,470,000
Current assets
Cash at bank and in hand 33,326 154,471
Creditors: amounts falling due within one year 4 (9,826) (5,852)
Net current assets 23,500 148,619
Total assets less current liabilities 1,648,996 1,618,619
Creditors: amounts falling due after more than one year 5 (1,403,975) (1,403,975)
Provisions for liabilities (44,839) (44,839)
Net assets 200,182 169,805
Capital and reserves
Called up share capital 100 100
Non-distributable reserves 7 134,518 134,518
Profit and loss account 65,564 35,187
Shareholders' funds 200,182 169,805
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
C M Rooney
Director
Approved by the board on 26 May 2025
BC Property Limited
Notes to the Accounts
for the year ended 31 March 2025
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts. Turnover includes revenue earned from rentals and other associated services provided to tenants.
Investment properties
Investment property is included at fair value. Gains are recognised in the profit and loss account. deferred tax is provided on these gains at the rate expected to apply when the property is sold. No depreciation is provided on investment property.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings nil
Plant and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings Plant and equipment Total
£ £ £
Cost
At 1 April 2024 1,470,000 1,217 1,471,217
Additions 155,496 - 155,496
At 31 March 2025 1,625,496 1,217 1,626,713
Depreciation
At 1 April 2024 - 1,217 1,217
At 31 March 2025 - 1,217 1,217
Net book value
At 31 March 2025 1,625,496 - 1,625,496
At 31 March 2024 1,470,000 - 1,470,000
Freehold land and buildings: 2025 2024
£ £
Historical cost 1,446,139 1,290,643
Cumulative depreciation based on historical cost 71,213 56,752
1,374,926 1,233,891
During the year ended 31 March 2025, the historic freehold land and buildings were revalued by the Directors at a fair market valuation of £1,625,496.
4 Creditors: amounts falling due within one year 2025 2024
£ £
Trade creditors 1,453 1,487
Taxation 8,373 4,365
9,826 5,852
5 Creditors: amounts falling due after one year 2025 2024
£ £
Bank loans 567,980 567,980
Other creditors 835,995 835,995
1,403,975 1,403,975
6 Loans 2025 2024
£ £
Creditors include:
Amounts payable otherwise than by instalment falling due for payment after more than five years 567,980 567,980
Secured bank loans 567,980 567,980
The bank loan is secured over BC Property Limited's properties.
7 Non-distributable reserves 2025 2024
£ £
At 1 April 2024 134,518 46,053
Transfer between reserves - 88,465
At 31 March 2025 134,518 134,518
8 Controlling party
BC Property Limited is controlled by its Directors.
9 Other information
BC Property Limited is a private company limited by shares and incorporated in England. Its registered office is:
64 Brantwood
Chester-le-Street
Co Durham
DH2 2UL
BC Property Limited 10076398 false 2024-04-01 2025-03-31 2025-03-31 VT Final Accounts April 2025 C M Rooney No description of principal activity 10076398 2023-04-01 2024-03-31 10076398 core:WithinOneYear 2024-03-31 10076398 core:AfterOneYear 2024-03-31 10076398 core:ShareCapital 2024-03-31 10076398 core:OtherReservesSubtotal 2024-03-31 10076398 core:RetainedEarningsAccumulatedLosses 2024-03-31 10076398 core:RevaluationReserve 2023-03-31 10076398 2024-04-01 2025-03-31 10076398 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 10076398 bus:AuditExempt-NoAccountantsReport 2024-04-01 2025-03-31 10076398 bus:Director40 2024-04-01 2025-03-31 10076398 1 2024-04-01 2025-03-31 10076398 2 2024-04-01 2025-03-31 10076398 core:LandBuildings 2024-04-01 2025-03-31 10076398 core:PlantMachinery 2024-04-01 2025-03-31 10076398 countries:England 2024-04-01 2025-03-31 10076398 bus:FRS102 2024-04-01 2025-03-31 10076398 bus:FilletedAccounts 2024-04-01 2025-03-31 10076398 2025-03-31 10076398 core:WithinOneYear 2025-03-31 10076398 core:AfterOneYear 2025-03-31 10076398 core:ShareCapital 2025-03-31 10076398 core:OtherReservesSubtotal 2025-03-31 10076398 core:RetainedEarningsAccumulatedLosses 2025-03-31 10076398 core:LandBuildings 2025-03-31 10076398 core:PlantMachinery 2025-03-31 10076398 core:RevaluationReserve 2025-03-31 10076398 2024-03-31 10076398 core:LandBuildings 2024-03-31 10076398 core:PlantMachinery 2024-03-31 10076398 core:RevaluationReserve 2024-03-31 iso4217:GBP xbrli:pure