Registered number
12190998
Bobo Property Management Limited
Filleted Accounts
30 September 2024
Bobo Property Management Limited
Registered number: 12190998
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Rental assets to Tenants 4 8,447 4,012
Tangible assets 5 693 2,630
Investments 6 963,000 513,000
972,140 519,642
Current assets
Debtors 7 2,948 206
Cash at bank and in hand 23,478 150
26,426 356
Creditors: amounts falling due within one year 8 (134,283) (83,755)
Net current liabilities (107,857) (83,399)
Total assets less current liabilities 864,283 436,243
Creditors: amounts falling due after more than one year 9 (769,108) (383,795)
Provisions for liabilities (65,572) (32,865)
Net assets 29,603 19,583
Capital and reserves
Called up share capital 1 1
Revaluation reserve 11 196,719 140,110
Profit and loss account (167,117) (120,528)
Shareholder's funds 29,603 19,583
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
Andrew Michael David Bowen
Director
Approved by the board on 24 June 2025
Bobo Property Management Limited
Notes to the Accounts
for the year ended 30 September 2024
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).
Rental Income
Rental Income is measured at the market value of the consideration received or reccivable. Rental income includes revenue earned from the renting of the investment property held by the company.
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:
Rental assets to Tenants over 4 years
Plant and machinery over 4 years
Motor Vehicles over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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 Going concern
At 30 September 2024 the company had net current liabilities of £107,857 [2023- £83,399]. The directors of the company are confident that all payments and liabilities will be met as and when they arise. The directors are of the opinion that the financial statements should be drawn up on a going concern basis.
3 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
4 Rental assets to Tenants £
Furniture and Fixtures
Cost
At 1 October 2023 14,603
Additions 8,199
At 30 September 2024 22,802
Depreciation
At 1 October 2023 10,591
Provided during the year 3,764
At 30 September 2024 14,355
Net book value
At 30 September 2024 8,447
At 30 September 2023 4,012
5 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 October 2023 4,027 6,000 10,027
At 30 September 2024 4,027 6,000 10,027
Depreciation
At 1 October 2023 2,597 4,800 7,397
Charge for the year 737 1,200 1,937
At 30 September 2024 3,334 6,000 9,334
Net book value
At 30 September 2024 693 - 693
At 30 September 2023 1,430 1,200 2,630
6 Investments
Other
investments
£
Cost
At 1 October 2023 513,000
Additions 360,683
Revaluation 89,317
At 30 September 2024 963,000
7 Debtors 2024 2023
£ £
Other debtors 2,948 206
8 Creditors: amounts falling due within one year 2024 2023
£ £
Other creditors 134,283 83,755
9 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 769,108 383,795
10 Loans 2024 2023
£ £
Creditors include:
Amounts payable otherwise than by instalment falling due for payment after more than five years 383,795 383,795
11 Non Distributable Reserve 2024 2023
£ £
At 1 October 2023 140,110 129,580
Transfer from profit and loss 56,609 10,530
At 30 September 2024 196,719 140,110
12 Profit and loss account 2024 2023
£ £
At 1 October 2023 (120,528) (121,594)
Profit/(loss) for the financial year 10,020 11,596
Transfer to Non Distributable Reserve (56,609) (10,530)
At 30 September 2024 (167,117) (120,528)
13 Related party transactions
There were no related party transactions in the year.
14 Transactions with directors
At the balance sheet date company owed the director £131,583 [2023 - £82,405].
15 Other information
Bobo Property Management Limited is a private company limited by shares and incorporated in England. Its registered office is:
18 Parrys Lane,
Bristol
BS9 1AA
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