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REGISTERED NUMBER: 00428958 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

BUDDENS MANAGEMENT SERVICES LIMITED

BUDDENS MANAGEMENT SERVICES LIMITED (REGISTERED NUMBER: 00428958)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BUDDENS MANAGEMENT SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: S J Budden
T P Budden
Mrs P H Budden
Mrs I E Swan
Ms C J Treble





REGISTERED OFFICE: Windover House
St. Ann Street
Salisbury
SP1 2DR





REGISTERED NUMBER: 00428958 (England and Wales)





ACCOUNTANTS: Fawcetts LLP
Chartered Accountants
Windover House
St. Ann Street
Salisbury
SP1 2DR

BUDDENS MANAGEMENT SERVICES LIMITED (REGISTERED NUMBER: 00428958)

BALANCE SHEET
30 SEPTEMBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 610 763
Investment property 5 1,494,536 1,715,746
1,495,146 1,716,509

CURRENT ASSETS
Debtors 6 946 195
Cash at bank 238,801 30,940
239,747 31,135
CREDITORS
Amounts falling due within one year 7 351,195 328,678
NET CURRENT LIABILITIES (111,448 ) (297,543 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,383,698 1,418,966

CAPITAL AND RESERVES
Called up share capital 8 10,251 10,251
Share premium 18,285 18,285
Capital redemption reserve 26,590 26,590
Retained earnings 1,328,572 1,363,840
SHAREHOLDERS' FUNDS 1,383,698 1,418,966

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

BUDDENS MANAGEMENT SERVICES LIMITED (REGISTERED NUMBER: 00428958)

BALANCE SHEET - continued
30 SEPTEMBER 2024


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 June 2025 and were signed on its behalf by:





Mrs I E Swan - Director


BUDDENS MANAGEMENT SERVICES LIMITED (REGISTERED NUMBER: 00428958)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024


1. STATUTORY INFORMATION

Buddens Management Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis. The company is dependent upon the support of the directors who have indicated that they will introduce funds as required to meet the company's liabilities. The directors therefore consider that the going concern basis is appropriate. The financial statements do not contain any adjustments that might be necessary were the going concern basis to be no longer appropriate.

The financial statements are presented in Sterling (£) which is the functional currency of the company.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover
Turnover comprises of rental income which is recognised on an accrual basis and is measured at the fair value of the consideration received, or receivable, excluding discounts, rebates, value added tax and other sales tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant & Machinery 20% reducing balance

Investment property
Investment property represents the company's portfolio of residential and commercial properties. It is initially recognised at cost, which includes purchase cost and any directly attributable expenditure.

Investment property is measured at fair value at each reporting date. Any fair value gains arising are not realised profits and therefore are transferred to a separately designated non-distributable fair value reserve. Any loss arising from revaluation is also recognised in the fair value reserve unless it represents a loss below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in profit or loss for the year.


BUDDENS MANAGEMENT SERVICES LIMITED (REGISTERED NUMBER: 00428958)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Debtors
Debtors are measured at their recoverable amount.

Creditors
Creditors and provisions are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

BUDDENS MANAGEMENT SERVICES LIMITED (REGISTERED NUMBER: 00428958)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2023
and 30 September 2024 2,913
DEPRECIATION
At 1 October 2023 2,150
Charge for year 153
At 30 September 2024 2,303
NET BOOK VALUE
At 30 September 2024 610
At 30 September 2023 763

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2023 1,715,746
Disposals (221,210 )
At 30 September 2024 1,494,536
NET BOOK VALUE
At 30 September 2024 1,494,536
At 30 September 2023 1,715,746

The fair value (open market basis) of investment property was assessed by the directors and in their opinion this remains unchanged at 30 September 2024.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 946 195

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 35,389 18,291
Other creditors 315,806 310,387
351,195 328,678

BUDDENS MANAGEMENT SERVICES LIMITED (REGISTERED NUMBER: 00428958)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,676 'A' Ordinary 50p 838 838
660 'C' Ordinary 50p 330 330
1,035 'D' Ordinary 50p 518 518
8,796 'E' Ordinary 50p 4,398 4,398
8,333 'Z' Ordinary 50p 4,167 4,167
10,251 10,251

9. RELATED PARTY DISCLOSURES

At the balance sheet date the company owed the directors £299,102 (2023: £302,392).