Bickford Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 03301627

BICKFORD LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

28 February 2025

BICKFORD LIMITED

STATEMENT OF FINANCIAL POSITION

28 February 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	5	1,152	2,398
Investment Properties	6	5,050,150	5,244,750
		-------------	-------------
		5,051,302	5,247,148

Current assets

Debtors	7	230,441	193,261
Cash at bank and in hand		215,965	100,939
		----------	----------
		446,406	294,200

Creditors: amounts falling due within one year	8	( 257,910)		( 249,633)
		----------		----------
Net current assets			188,496	44,567
			-------------	-------------
Total assets less current liabilities			5,239,798	5,291,715

Creditors: amounts falling due after more than one year	9		( 334,338)	( 586,903)

Provisions

Taxation including deferred tax	( 296,768)	( 272,295)
	-------------	-------------
Net assets	4,608,692	4,432,517
	-------------	-------------

BICKFORD LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

28 February 2025

	2025		2024
Note	£	£	£

Capital and reserves

Called up share capital	100	100
Revaluation reserve	2,064,375	2,029,930
Profit and loss account	2,544,217	2,402,487
	-------------	-------------
Shareholders funds	4,608,692	4,432,517
	-------------	-------------

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.

For the year ending 28 February 2025 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 year 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 were approved by the board of directors and authorised for issue on 20 August 2025 , and are signed on behalf of the board by:

P F Gray	R K Clough
Director	Director

Company registration number: 03301627

BICKFORD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 28 FEBRUARY 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Old Malthouse, Commercial Road, Grantham, Lincs, NG31 6DE.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The actual outcome may diverge from these estimates if other assumptions are made, or other conditions arise. - Significant judgements No judgements have been made which would have a significant effect on the amounts recognised in the financial statements. - Key sources of estimation uncertainty Investment property valuations- investment properties are revalued each year at the balance sheet date by the directors at open market value.

Revenue recognition

The turnover shown in the profit and loss account represents rental income due for the year, net of any VAT due and recognised on an accruals basis.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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. Deferred tax is recognised in respect of all material timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded 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:

	Plant and machinery	-	20% straight line

Investments

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued by the directors to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

Impairment of fixed assets

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.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Financial instruments

The company only holds basic financial instruments as defined in FRS 102. The financial assets and financial liabilities of the company and their measurement basis are as follows: Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at face value. Financial liabilities - trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 5 (2024: 5 ).

5. Tangible assets

	Plant and machinery	Total
	£	£
Cost
At 1 March 2024 and 28 February 2025	7,337	7,337
	-------	-------
Depreciation
At 1 March 2024	4,939	4,939
Charge for the year	1,246	1,246
	-------	-------
At 28 February 2025	6,185	6,185
	-------	-------
Carrying amount
At 28 February 2025	1,152	1,152
	-------	-------
At 29 February 2024	2,398	2,398
	-------	-------

6. Investment properties

	Investment properties
	£
Cost
At 1 March 2024	5,244,750
Disposals	( 390,000)
Revaluations	195,400
	-------------
At 28 February 2025	5,050,150
	-------------
Impairment
At 1 March 2024 and 28 February 2025	–
	-------------

Carrying amount
At 28 February 2025	5,050,150
	-------------
At 29 February 2024	5,244,750
	-------------

The investment properties are revalued each year at the balance sheet date by the directors at open market value. At 28 February 2025 the historical cost of investment properties was £2,985,775 (2024: £3,214,820).

7. Debtors

	2025	2024
	£	£
Other debtors	230,441	193,261
	----------	----------

The debtors above include the following amounts falling due after more than one year:

	2025	2024
	£	£
Other debtors	40,623	40,623
	---------	---------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	22,564	22,564
Corporation tax	57,882	38,408
Social security and other taxes	3,256	3,782
Credit card liability	810	2,913
Other creditors	173,398	181,966
	----------	----------
	257,910	249,633
	----------	----------

Bank loans totalling £22,564 (2024: £22,564) are secured on the properties portfolio.

9. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	124,615	377,180
Other creditors	209,723	209,723
	----------	----------
	334,338	586,903
	----------	----------

Bank loans totalling £124,615 (2024: £377,180) are secured on the property portfolio.

10. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2025	2024
	£	£
Not later than 1 year	9,961	13,022
Later than 1 year and not later than 5 years	2,875	12,837
	---------	---------
	12,836	25,859
	---------	---------

11. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2025
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
P F Gray	74,939	–	( 12,762)	62,177
R K Clough	74,819	–	( 12,765)	62,054
	----------	----	---------	----------
	149,758	–	( 25,527)	124,231
	----------	----	---------	----------

	2024
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
P F Gray	52,268	22,671	–	74,939
R K Clough	36,782	38,037	–	74,819
	---------	---------	----	----------
	89,050	60,708	–	149,758
	---------	---------	----	----------

Loans to the Directors carry an interest charge of 2.25%

12. Related party transactions

The directors R K Clough and P F Gray are actively involved in the day to day running of the business. No one party is deemed to have a controlling interest in the company. No transactions with related parties were undertaken such as are required to be disclosed under FRS 102 (section 1A).