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Company registration number: 15349291
Bishops Yard Ltd
Unaudited filleted financial statements
31 December 2024
Bishops Yard Ltd
Contents
Directors and other information
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Bishops Yard Ltd
Directors and other information
Directors Mr John Murphy
Company number 15349291
Registered office Sovereign House
82 West Street
Rochford
Essex
SS4 1AS
Accountants Murphy Collins Limited
Sovereign House
82 West Street
Rochford
Essex
SS4 1AS
Bishops Yard Ltd
Statement of financial position
31 December 2024
31/12/24
Note £ £
Fixed assets
Tangible assets 4 1,599,255
_______
1,599,255
Current assets
Stocks 38,300
Debtors 5 100
_______
38,400
Creditors: amounts falling due
within one year 6 ( 730,401)
_______
Net current liabilities ( 692,001)
_______
Total assets less current liabilities 907,254
Creditors: amounts falling due
after more than one year 7 ( 1,029,310)
_______
Net liabilities ( 122,056)
_______
Capital and reserves
Called up share capital 100
Profit and loss account ( 122,156)
_______
Shareholders deficit ( 122,056)
_______
For the period ending 31 December 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 financial statements for the period in question in accordance with section 476;
- The directors acknowledge 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 08 September 2025 , and are signed on behalf of the board by:
Mr John Murphy
Director
Company registration number: 15349291
Bishops Yard Ltd
Statement of changes in equity
Period ended 31 December 2024
Called up share capital Profit and loss account Total
£ £ £
At 13 December 2023 - - -
Loss for the period ( 122,156) ( 122,156)
_______ _______ _______
Total comprehensive income for the period - ( 122,156) ( 122,156)
Issue of shares 100 100
_______ _______ _______
Total investments by and distributions to owners 100 - 100
_______ _______ _______
At 31 December 2024 100 ( 122,156) ( 122,056)
_______ _______ _______
Bishops Yard Ltd
Notes to the financial statements
Period ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Sovereign House, 82 West Street, Rochford, Essex, SS4 1AS.
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.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
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:
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.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
4. Tangible assets
Freehold property Total
£ £
Cost
At 13 December 2023 - -
Additions 1,599,255 1,599,255
_______ _______
At 31 December 2024 1,599,255 1,599,255
_______ _______
Depreciation
At 13 December 2023 and 31 December 2024 - -
_______ _______
Carrying amount
At 31 December 2024 1,599,255 1,599,255
_______ _______
5. Debtors
31/12/24
£
Other debtors 100
_______
6. Creditors: amounts falling due within one year
31/12/24
£
Other creditors 730,401
_______
7. Creditors: amounts falling due after more than one year
31/12/24
£
Other creditors 1,029,310
_______
8. Directors advances, credits and guarantees
During the period the directors entered into the following advances and credits with the company:
Period ended 31/12/24
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr John Murphy - 100 100
_______ _______ _______
9. Controlling Party
Mr John Murphy controls the company.
10. Going Concern
The major part of the company's working capital requirements are provided by a loan from Corporate Spec Limited (Company Number 08162568), a related company which is repayable on demand. It is anticipated this loan will be repaid once Bishops Yard Ltd starts to generate profits. The directors, having considered the above and made due enquiries, continue to adopt the going concern basis in preparing the financial statements which assumes that the company will continue in operation for the foreseeable future.