REGISTERED NUMBER: 05958688 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Bure Court (Freehold) Limited

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

3

41,111

41,111

CURRENT ASSETS

Debtors

4

5,119

5,698

Cash at bank

32,791

28,764

37,910

34,462

CREDITORS

Amounts falling due within one year

5

(20,720

)

(17,933

)

NET CURRENT ASSETS

17,190

16,529

TOTAL ASSETS LESS CURRENT LIABILITIES

58,301

57,640

CAPITAL AND RESERVES

Called up share capital

6

14

14

Non-distributable reserves

7

40,662

40,662

Retained earnings

7

17,625

16,964

SHAREHOLDERS' FUNDS

58,301

57,640

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.

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 Statement of Service Charge Income and Expenditure has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 September 2025 and were signed on its behalf by:

J P Richardson - Director

M Patwa - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

Company information

Bure Court (Freehold) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Sadlers, 175 High Street, Barnet, EN5 5SU.

Accounting convention

These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Turnover

Income represents contributions made by members towards general administrative expenses and repairs to the property.

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings

No depreciation provided in respect of the Freehold property

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 2 ) .

3.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST

At 1 January 2024

and 31 December 2024

41,111

NET BOOK VALUE

At 31 December 2024

41,111

At 31 December 2023

41,111

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

-

88

Other debtors

5,119

5,610

5,119

5,698

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

538

-

Other creditors

20,182

17,933

20,720

17,933

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

14

Ordinary shares

1

14

14

7.

RESERVES

Retained

Non-distributable

earnings

reserves

Totals

£

£

£

At 1 January 2024

16,964

40,662

57,626

Profit for the year

661

661

At 31 December 2024

17,625

40,662

58,287

Included within reserves are non-distributable reserves amounting to £40,662 (2023: £40,662) which represents the amount paid by the leaseholders (excluding Flat 3 leaseholder) of the property to acquire the freehold. The leaseholders are the members of the company.

8.	ULTIMATE CONTROLLING PARTY

In the opinion of the directors, there is no single controlling party for the company.