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Registration number: 13671550

BOC Property Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2024

 

BOC Property Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

BOC Property Ltd

Company Information

Directors

Mr J Blake

Mr A Hambidge

Mr C A Hambidge

Registered office

20-22 Wenlock Road
London
N1 7GU

Accountants

Regulatory Accounting Ltd
T/A Optimum Professional Services
Vicarage Court
160 Ermin Street
Swindon
Wiltshire
SN3 4NE

 

BOC Property Ltd

(Registration number: 13671550)
Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

54,781

38,411

Investment property

5

2,088,987

1,287,959

 

2,143,768

1,326,370

Current assets

 

Debtors

6

25,996

28,690

Cash at bank and in hand

 

444,012

11,246

 

470,008

39,936

Creditors: Amounts falling due within one year

7

(244,557)

(498,635)

Net current assets/(liabilities)

 

225,451

(458,699)

Total assets less current liabilities

 

2,369,219

867,671

Creditors: Amounts falling due after more than one year

7

(2,191,349)

(726,809)

Provisions for liabilities

(63,351)

-

Net assets

 

114,519

140,862

Capital and reserves

 

Called up share capital

3

3

Retained earnings

114,516

140,859

Shareholders' funds

 

114,519

140,862

 

BOC Property Ltd

(Registration number: 13671550)
Balance Sheet as at 31 October 2024

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.

Directors' 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 directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 29 July 2025 and signed on its behalf by:
 

.........................................
Mr J Blake
Director

.........................................
Mr A Hambidge
Director

.........................................
Mr C A Hambidge
Director

 

BOC Property Ltd

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 England & Wales.

The address of its registered office is:
20-22 Wenlock Road
London
N1 7GU
England

These financial statements were authorised for issue by the Board on 29 July 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. The directors have no concerns over the company's ability to operate for the forseeable future.

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 deferred 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.

 

BOC Property Ltd

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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

Fixtures & Fittings

25% Straight Line

Motor Vehicles

25% Reducing Balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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.

Borrowings

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.

 

BOC Property Ltd

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

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 November 2023

28,746

14,884

-

43,630

Additions

-

5,161

18,772

23,933

At 31 October 2024

28,746

20,045

18,772

67,563

Depreciation

At 1 November 2023

-

5,219

-

5,219

Charge for the year

-

4,043

3,520

7,563

At 31 October 2024

-

9,262

3,520

12,782

Carrying amount

At 31 October 2024

28,746

10,783

15,252

54,781

At 31 October 2023

28,746

9,665

-

38,411

Included within the net book value of land and buildings above is £28,746 (2023 - £28,746) in respect of freehold land and buildings.
 

5

Investment properties

2024
£

At 1 November

1,287,959

Additions

728,987

Fair value adjustments

72,041

At 31 October

2,088,987

 

BOC Property Ltd

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

Properties have been revalued frrom valuations taken from re-mortgage completion statements.

 

BOC Property Ltd

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

6

Debtors

Current

2024
£

2023
£

Prepayments

20,458

23,152

Other debtors

5,538

5,538

 

25,996

28,690

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

221,957

447,500

Accruals and deferred income

 

3,100

38,635

Other creditors

 

19,500

12,500

 

244,557

498,635

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

1,099,311

648,312

Other non-current financial liabilities

 

1,092,038

78,497

 

2,191,349

726,809

2024
£

2023
£

Due after more than five years

After more than five years not by instalments

1,099,312

648,312

-

-

 

BOC Property Ltd

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

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

1,099,311

648,312

Current loans and borrowings

2024
£

2023
£

Bank borrowings

221,957

447,500

Included in the loans and borrowings are the following amounts due after more than five years:

Bank loans and overdrafts after five years

The company holds mortgages on 3 of its properties. These are interest only mortgages and the capital sums are due in over 5 years.

9

Financial commitments, guarantees and contingencies

Amounts disclosed in the balance sheet

Included in the balance sheet are financial commitments of £1,099,312 (2023 - £945,812). The company has mortgages taken out with Onesavings Bank plc which have charges registered over the properties.
All 3 charges contain a fixed charge and a negative pledge.