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Company registration number:
13021607
Bhandari & Sons Property Management Ltd
Unaudited filleted financial statements
30 November 2024
Bhandari & Sons Property Management Ltd
Contents
Directors and other information
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Bhandari & Sons Property Management Ltd
Directors and other information
|
|
|
|
Director |
Kurun Bhandari |
|
|
|
|
|
|
|
Company number |
13021607 |
|
|
|
|
|
|
|
Registered office |
1 Pearsall Terrace |
|
|
16D Highfield Hill |
|
|
London |
|
|
SE19 3PS |
|
|
|
|
|
|
|
Accountants |
Lindley & Co |
|
|
Suite 4 Europa House |
|
|
Europa Way |
|
|
Lichfield |
|
|
Staffordshire |
|
|
WS14 9TZ |
|
|
|
Bhandari & Sons Property Management Ltd
Report to the director on the preparation of the
unaudited statutory financial statements of Bhandari & Sons Property Management Ltd
Year ended 30 November 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Bhandari & Sons Property Management Ltd for the year ended 30 November 2024 which comprise the statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants , we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/ rules-standards/acca-rulebook.html.
This report is made solely to the director of Bhandari & Sons Property Management Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Bhandari & Sons Property Management Ltd and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Bhandari & Sons Property Management Ltd and its director as a body for our work or for this report.
It is your duty to ensure that Bhandari & Sons Property Management Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Bhandari & Sons Property Management Ltd. You consider that Bhandari & Sons Property Management Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Bhandari & Sons Property Management Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Lindley & Co
Chartered Certified Accountants
Suite 4 Europa House
Europa Way
Lichfield
Staffordshire
WS14 9TZ
20 July 2025
Bhandari & Sons Property Management Ltd
Statement of financial position
30 November 2024
|
|
|
2024 |
|
|
|
2023 |
|
|
|
|
Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
|
|
|
Tangible assets |
|
5 |
218,708 |
|
|
|
203,231 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
218,708 |
|
|
|
203,231 |
|
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
|
Cash at bank and in hand |
|
|
3,445 |
|
|
|
12,030 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
3,445 |
|
|
|
12,030 |
|
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
|
within one year |
|
6 |
(
61,662) |
|
|
|
(
60,563) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
Net current liabilities |
|
|
|
|
(
58,217) |
|
|
|
(
48,533) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
Total assets less current liabilities |
|
|
|
|
160,491 |
|
|
|
154,698 |
|
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
|
after more than one year |
|
7 |
|
|
(
146,365) |
|
|
|
(
146,365) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
Net assets |
|
|
|
|
14,126 |
|
|
|
8,333 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
|
Capital and reserves |
|
|
|
|
|
|
|
|
|
|
Called up share capital |
|
|
|
|
1 |
|
|
|
1 |
|
Profit and loss account |
|
|
|
|
14,125 |
|
|
|
8,332 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
Shareholder funds |
|
|
|
|
14,126 |
|
|
|
8,333 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
For the year ending 30 November 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 member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
20 July 2025
, and are signed on behalf of the board by:
Kurun Bhandari
Director
Company registration number:
13021607
Bhandari & Sons Property Management Ltd
Statement of changes in equity
Year ended 30 November 2024
|
|
Called up share capital |
|
Profit and loss account |
Total |
|
|
|
|
|
|
|
£ |
|
£ |
£ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
At 1 December 2022 |
|
1 |
|
5,686 |
5,687 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit for the year |
|
|
|
3,646 |
3,646 |
|
|
|
|
|
|
|
_______ |
|
_______ |
_______ |
|
|
|
|
|
|
Total comprehensive income for the year |
|
- |
|
3,646 |
3,646 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dividends paid and payable |
|
|
|
(
1,000) |
(
1,000) |
|
|
|
|
|
|
|
_______ |
|
_______ |
_______ |
|
|
|
|
|
|
Total investments by and distributions to owners |
|
- |
|
(
1,000) |
(
1,000) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
_______ |
_______ |
|
|
|
|
|
|
At 30 November 2023 and 1 December 2023 |
|
1 |
|
8,332 |
8,333 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit for the year |
|
|
|
6,293 |
6,293 |
|
|
|
|
|
|
|
_______ |
|
_______ |
_______ |
|
|
|
|
|
|
Total comprehensive income for the year |
|
- |
|
6,293 |
6,293 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dividends paid and payable |
|
|
|
(
500) |
(
500) |
|
|
|
|
|
|
|
_______ |
|
_______ |
_______ |
|
|
|
|
|
|
Total investments by and distributions to owners |
|
- |
|
(
500) |
(
500) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
_______ |
_______ |
|
|
|
|
|
|
At 30 November 2024 |
|
1 |
|
14,125 |
14,126 |
|
|
|
|
|
|
|
_______ |
|
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bhandari & Sons Property Management Ltd
Notes to the financial statements
Year ended 30 November 2024
1.
General information
The company is a private company limited by shares, registered in England. The address of the registered office is Bhandari & Sons Property Management Ltd, 1 Pearsall Terrace, 16D Highfield Hill, London, SE19 3PS.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of rent received or receivable.
Taxation
The taxation expense represents current tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
|
|
|
|
|
Long leasehold property |
- |
Nil |
|
|
Fittings fixtures and equipment |
- |
33 % |
straight line |
|
|
|
|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Investment property
Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2023:
1
).
5.
Tangible assets
|
|
Long leasehold property |
Fixtures, fittings and equipment |
Total |
|
|
|
|
|
|
£ |
£ |
£ |
|
|
|
|
|
Cost |
|
|
|
|
|
|
|
|
At 1 December 2023 |
202,526 |
1,209 |
203,735 |
|
|
|
|
|
Additions |
15,880 |
- |
15,880 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
At 30 November 2024 |
218,406 |
1,209 |
219,615 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
Depreciation |
|
|
|
|
|
|
|
|
At 1 December 2023 |
- |
504 |
504 |
|
|
|
|
|
Charge for the year |
- |
403 |
403 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
At 30 November 2024 |
- |
907 |
907 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
|
At 30 November 2024 |
218,406 |
302 |
218,708 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
At 30 November 2023 |
202,526 |
705 |
203,231 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
|
Investment property
Investment properties were valued at market value at the balance sheet date by the director, who believes market value is not materially different to cost.
6.
Creditors: amounts falling due within one year
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Corporation tax |
|
1,571 |
950 |
|
Other creditors |
|
60,091 |
59,613 |
|
|
|
_______ |
_______ |
|
|
|
61,662 |
60,563 |
|
|
|
_______ |
_______ |
|
|
|
|
|
7.
Creditors: amounts falling due after more than one year
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Bank loans and overdrafts |
|
146,365 |
146,365 |
|
|
|
_______ |
_______ |
|
|
|
|
|
The bank loans are interest only and secured by way of a charge over the company's properties.
Included within creditors: amounts falling due after more than one year is an amount of £ 146,365
(2023 £ 146,365 ) in respect of liabilities payable or repayable otherwise than by instalments which fall due for payment after more than five years from the reporting date.
8.
Directors advances, credits and guarantees
|
During the year the director entered into the following advances and credits with the company: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2024 |
|
|
|
|
|
|
|
|
|
Balance brought forward |
Advances /(credits) to the director |
Balance o/standing |
|
|
|
|
|
£ |
£ |
£ |
|
|
|
|
Kurun Bhandari |
(
59,193) |
(
478) |
(
59,671) |
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
2023 |
|
|
|
|
|
|
|
|
|
Balance brought forward |
Advances /(credits) to the director |
Balance o/standing |
|
|
|
|
|
£ |
£ |
£ |
|
|
|
|
Kurun Bhandari |
(
58,958) |
(
235) |
(
59,193) |
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
9.
Controlling party
The company is controlled by
Kurun Bhandari
, who owns 100% of the issued share capital.