IRIS Accounts Production v25.1.4.42 11988717 Board of Directors Board of Directors 1.1.24 31.12.24 31.12.24 0 0 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh119887172023-12-31119887172024-12-31119887172024-01-012024-12-31119887172022-12-31119887172023-01-012023-12-31119887172023-12-3111988717ns15:EnglandWales2024-01-012024-12-3111988717ns14:PoundSterling2024-01-012024-12-3111988717ns10:Director12024-01-012024-12-3111988717ns10:Director22024-01-012024-12-3111988717ns10:PrivateLimitedCompanyLtd2024-01-012024-12-3111988717ns10:SmallEntities2024-01-012024-12-3111988717ns10:AuditExemptWithAccountantsReport2024-01-012024-12-3111988717ns10:SmallCompaniesRegimeForDirectorsReport2024-01-012024-12-3111988717ns10:SmallCompaniesRegimeForAccounts2024-01-012024-12-3111988717ns10:FullAccounts2024-01-012024-12-3111988717ns10:EntityHasNeverTraded2024-01-012024-12-3111988717ns10:Director32024-01-012024-12-3111988717ns10:RegisteredOffice2024-01-012024-12-3111988717ns5:CurrentFinancialInstruments2024-12-3111988717ns5:CurrentFinancialInstruments2023-12-3111988717ns5:Non-currentFinancialInstruments2024-12-3111988717ns5:Non-currentFinancialInstruments2023-12-3111988717ns5:ShareCapital2024-12-3111988717ns5:ShareCapital2023-12-3111988717ns5:RetainedEarningsAccumulatedLosses2024-12-3111988717ns5:RetainedEarningsAccumulatedLosses2023-12-3111988717ns5:CostValuation2023-12-3111988717ns5:WithinOneYearns5:CurrentFinancialInstruments2024-12-3111988717ns5:WithinOneYearns5:CurrentFinancialInstruments2023-12-3111988717ns5:Secured2024-12-3111988717ns5:Secured2023-12-31119887173ns10:Director32023-12-31119887173ns10:Director32022-12-31119887173ns10:Director32024-01-012024-12-31119887173ns10:Director32023-01-012023-12-31119887173ns10:Director32024-12-31119887173ns10:Director32023-12-31
REGISTERED NUMBER: 11988717 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2024

for

Buyrite Holdings Limited

Buyrite Holdings Limited (Registered number: 11988717)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Certified Accountants' Report 10

Buyrite Holdings Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: BH Allen
J C Allen
T E Allen





REGISTERED OFFICE: Innovation House
Telford Way
Stephenson Industrial Estate
Coalville
Leicestershire
LE67 3HE





REGISTERED NUMBER: 11988717 (England and Wales)





ACCOUNTANTS: Charnwood Accountants & Business Advisors LLP
The Point
Granite Way
Mountsorrel
Loughborough
Leicestershire
LE12 7TZ

Buyrite Holdings Limited (Registered number: 11988717)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Investments 5 100 100
Investment property 6 6,557,026 6,097,026
6,557,126 6,097,126

CURRENT ASSETS
Debtors 7 3,001,248 838,543
Cash at bank 1,264,084 1,950,550
4,265,332 2,789,093
CREDITORS
Amounts falling due within one year 8 155,046 106,829
NET CURRENT ASSETS 4,110,286 2,682,264
TOTAL ASSETS LESS CURRENT
LIABILITIES

10,667,412

8,779,390

CREDITORS
Amounts falling due after more than one
year

9

(952,464

)

(1,605,430

)

PROVISIONS FOR LIABILITIES (152,066 ) -
NET ASSETS 9,562,882 7,173,960

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 9,562,782 7,173,860
SHAREHOLDERS' FUNDS 9,562,882 7,173,960

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

Buyrite Holdings Limited (Registered number: 11988717)

Balance Sheet - continued
31 December 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 July 2025 and were signed on its behalf by:




BH Allen - Director



J C Allen - Director


Buyrite Holdings Limited (Registered number: 11988717)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Buyrite Holdings 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The financial statements have been prepared under the historical cost convention.
The preparation of financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the company accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements, are disclosed below

These policies have been consistently applied to all the years presented, unless otherwise stated.

Cashflow statement exemption
The company has availed of the exemption contained in Section 1A of FRS 102 and as a result has elected not to prepare a cash flow statement.

Preparation of consolidated financial statements
The financial statements contain information about Buyrite Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Buyrite Holdings Limited (Registered number: 11988717)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

3. ACCOUNTING POLICIES - continued

Significant judgements and estimates
In the application of the company's accounting policies, which are described in the accounting policies below, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Judgements
In preparing these financial statements, the directors have made the following key judgements that have a significant effect on the amounts recognised in the financial statements as described below.

- Classification of investment properties
The company holds a number of investment properties and accounts for such properties in accordance with the accounting policy set out in the investment property policy below. The relevant property is accounted for in accordance with FRS 102 Section 16 and the company accounts for the fair value change through the income statement as other operating income or expense.

The key assumptions used to determine the fair value of the properties are provided in the investment property accounting policy.

Estimates and assumptions
The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year, are described below. The Company based its assumptions and estimates on parameters available when the financial statements were prepared. Existing circumstances and assumptions about future developments, however, may change due to market changes or circumstances arising that are beyond the control of the Company. Such changes are reflected in the assumptions when they occur.

a) Valuation of investment properties
The company carries its investment properties at fair value, with changes in fair value being recognised in the statement of profit or loss. For investment properties, a valuation methodology based on expected yield rates was considered for the year. In addition, the company measures land and buildings at revalued amounts with changes in fair value being recognised in other comprehensive income. Land and buildings were valued by reference to market-based evidence, using comparable prices adjusted for specific market factors such as nature, location and condition of the property where the directors consider it applicable.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Rental income
Income from property rental is recognised on a straight-line basis over the term of the agreement.

Dividend income
Dividend income is recognised when the right to receive payment is established.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Buyrite Holdings Limited (Registered number: 11988717)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

3. ACCOUNTING POLICIES - continued

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Property is held to earn rental income rather than for the purpose of the company's principal activities is classified as Investment property. Such properties are held for their long term investment potential.

Investment properties are accounted for as follows:

Investment properties are measured initially at cost, including transaction costs and any directly attributable expenditure. Subsequent to initial recognition, investment properties are stated at fair value, where such properties can be measured reliably and which reflects market conditions at the reporting date. The surplus or deficit on revaluation is recognised in the profit and loss account accumulated in the profit and loss reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year, including the corresponding tax effect.

Fair values are determined based on an annual evaluation by either the directors or an independent professional third party valuer where the directors assess there is likely to be a material change in value. No depreciation is provided in respect of investment properties.

Investment properties are derecognised either when they have been disposed of or when they are permanently withdrawn from use and no future economic benefit is expected from their disposal. The difference between the net disposal proceeds and the carrying amount of the asset is recognised in profit or loss in the period of derecognition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

4. EMPLOYEES AND DIRECTORS

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

Buyrite Holdings Limited (Registered number: 11988717)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2024
and 31 December 2024 100
NET BOOK VALUE
At 31 December 2024 100
At 31 December 2023 100

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2024 6,097,026
Additions 169,235
Revaluations 290,765
At 31 December 2024 6,557,026
NET BOOK VALUE
At 31 December 2024 6,557,026
At 31 December 2023 6,097,026

The director considers the carrying value of the properties represent the fair value of the properties at the year end. Fair values is determined having regard to recent market transactions for similar properties in the same location as the company’s investment properties.

The properties are subject to a fixed and floating charge.

Fair value at 31 December 2024 is represented by:
£   
Valuation in 2023 317,500
Valuation in 2024 290,765
Cost 5,948,761
6,557,026

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Amounts owed by group undertakings 3,000,255 835,347
Other debtors 993 3,196
3,001,248 838,543

Buyrite Holdings Limited (Registered number: 11988717)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans and overdrafts 39,965 35,794
Trade creditors - 9,400
Taxation and social security 114,289 58,991
Other creditors 792 2,644
155,046 106,829

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.24 31.12.23
£    £   
Bank loans 945,564 1,605,430
Other creditors 6,900 -
952,464 1,605,430

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 1,477,000

10. SECURED DEBTS

The following secured debts are included within creditors:

31.12.24 31.12.23
£    £   
Bank loans 985,529 1,641,224

The loan is secured against the property which it relates to.

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

31.12.24 31.12.23
£    £   
T E Allen
Balance outstanding at start of year 2,314 -
Amounts advanced - 2,314
Amounts repaid (2,314 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 2,314

The loan was interest free and repayable on demand. The loan brought forward was repaid in the current financial year.

Buyrite Holdings Limited (Registered number: 11988717)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

12. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Chartered Certified Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Buyrite Holdings Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Buyrite Holdings Limited for the year ended 31 December 2024 which comprise the Income Statement, Balance Sheet and the 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/rulebook.

This report is made solely to the Board of Directors of Buyrite Holdings Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Buyrite Holdings Limited and state those matters that we have agreed to state to the Board of Directors of Buyrite Holdings Limited, 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 the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Buyrite Holdings Limited 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 Buyrite Holdings Limited. You consider that Buyrite Holdings Limited 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 Buyrite Holdings Limited. 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.






Charnwood Accountants & Business Advisors LLP
The Point
Granite Way
Mountsorrel
Loughborough
Leicestershire
LE12 7TZ


14 July 2025