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Registration number: 07824312

Bishopstone Developments Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 October 2024

 

Bishopstone Developments Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Bishopstone Developments Limited

Company Information

Director

Mr RP Gladwin

Registered office

B3 Clover House
Harvey Drive
John Wilson Business Park
Whitstable
Kent
CT5 3QZ

Accountants

C W W Ltd
B3 Clover House
Harvey Drive
John Wilson Business Park
Whitstable
Kent
CT5 3QZ

 

Bishopstone Developments Limited

(Registration number: 07824312)
Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

975,125

966,607

Current assets

 

Stocks

5

37,184

-

Debtors

6

10,602

6,831

Cash at bank and in hand

 

4,244

81,728

 

52,030

88,559

Creditors: Amounts falling due within one year

7

(411,889)

(453,791)

Net current liabilities

 

(359,859)

(365,232)

Total assets less current liabilities

 

615,266

601,375

Creditors: Amounts falling due after more than one year

7

(419,559)

(426,236)

Net assets

 

195,707

175,139

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

195,607

175,039

Shareholders' funds

 

195,707

175,139

For the financial year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 30 April 2025
 

 

Bishopstone Developments Limited

(Registration number: 07824312)
Balance Sheet as at 31 October 2024

.........................................
Mr RP Gladwin
Director

 

Bishopstone Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
B3 Clover House
Harvey Drive
John Wilson Business Park
Whitstable
Kent
CT5 3QZ

These financial statements were authorised for issue by the director on 30 April 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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

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.

 

Bishopstone Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

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

Plant & Machinery

25% RB

Motor vehicles

25% RB

Computer equipment

25% RB

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

Borrowings

 

Bishopstone Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

 

Bishopstone Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

4

Tangible assets

Land and buildings
£

Long leasehold land and buildings
£

Plant and machinery
£

Office equipment
£

Cost or valuation

At 1 November 2023

621,475

313,000

20,575

6,552

Additions

-

-

886

-

Disposals

-

-

-

-

At 31 October 2024

621,475

313,000

21,461

6,552

Depreciation

At 1 November 2023

-

-

12,450

4,328

Charge for the year

-

-

2,253

556

Eliminated on disposal

-

-

-

-

At 31 October 2024

-

-

14,703

4,884

Carrying amount

At 31 October 2024

621,475

313,000

6,758

1,668

At 31 October 2023

621,475

313,000

8,125

2,224

Motor vehicles
 £

Total
£

Cost or valuation

At 1 November 2023

59,443

1,021,045

Additions

21,895

22,781

Disposals

(9,499)

(9,499)

At 31 October 2024

71,839

1,034,327

Depreciation

At 1 November 2023

37,660

54,438

Charge for the year

10,742

13,551

Eliminated on disposal

(8,787)

(8,787)

At 31 October 2024

39,615

59,202

Carrying amount

At 31 October 2024

32,224

975,125

At 31 October 2023

21,783

966,607

 

Bishopstone Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Included within the net book value of land and buildings above is £621,475 (2023 - £621,475) in respect of freehold land and buildings and £313,000 (2023 - £313,000) in respect of long leasehold land and buildings.
 

5

Stocks

2024
£

2023
£

Work in progress

37,184

-

6

Debtors

Current

2024
£

2023
£

Trade debtors

9,280

6,382

Prepayments

744

449

Other debtors

578

-

 

10,602

6,831

 

Bishopstone Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

4,115

35,474

Taxation and social security

4,487

20,928

Accruals and deferred income

-

125

Other creditors

403,287

397,264

411,889

453,791

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

419,559

426,236

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

419,559

426,236