Company registration number 00599202 (England and Wales)
B & S PROPERTIES (LEWISHAM) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 24 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
Tavistock House South
Tavistock Square
Rayner Essex LLP
London
Chartered Accountants
WC1H 9LG
B & S PROPERTIES (LEWISHAM) LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
B & S PROPERTIES (LEWISHAM) LIMITED
BALANCE SHEET
AS AT
24 MARCH 2025
24 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Investment property
5
2,350,000
2,225,000
Current assets
Debtors
6
9,064
22,486
Cash at bank and in hand
261,885
217,599
270,949
240,085
Creditors: amounts falling due within one year
7
(10,004)
(4,000)
Net current assets
260,945
236,085
Total assets less current liabilities
2,610,945
2,461,085
Provisions for liabilities
(278,817)
(247,567)
Net assets
2,332,128
2,213,518
Capital and reserves
Called up share capital
200
200
Other reserves
2,066,417
1,972,667
Profit and loss reserves
265,511
240,651
Total equity
2,332,128
2,213,518

For the financial year ended 24 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he 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 Companies Act 2006 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.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 3 November 2025 and are signed on its behalf by:
Mr M Wright
Director
Company registration number 00599202 (England and Wales)
B & S PROPERTIES (LEWISHAM) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 24 MARCH 2025
- 2 -
1
Accounting policies
Company information

B & S Properties (Lewisham) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Tavistock House South, Tavistock Square, London, WC1H 9LG.

1.1
Basis of preparation

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 a mounts 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.

1.2
Turnover

Turnover represents rent receivable.

Revenue from rent receivable can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.3
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

1.4
Cash and cash equivalents

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

1.5
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.

B & S PROPERTIES (LEWISHAM) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 24 MARCH 2025
1
Accounting policies
(Continued)
- 3 -
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 paymen ts 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. A m ounts 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.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.8
Employee benefits

All the employees of the company are directors who have opted out of the Auto Enrolment scheme.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

B & S PROPERTIES (LEWISHAM) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 24 MARCH 2025
2
Judgements and key sources of estimation uncertainty
(Continued)
- 4 -
Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

The key area of judgement and source of estimation uncertainty is the valuation of investment properties. The Directors rely on the Managing Agents of the properties who exercise a significant amount of judgement when valuing the investment properties annually and use their extensive knowledge of the property market and trends in this area to do so.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
2
2
4
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
254
-
0
Adjustments in respect of prior periods
-
0
(2,724)
Total current tax
254
(2,724)
Deferred tax
Origination and reversal of timing differences
31,250
31,250
Total tax charge
31,504
28,526
5
Investment property
2025
£
Fair value
At 25 March 2024
2,225,000
Revaluations
125,000
At 24 March 2025
2,350,000

The investment properties were valued by the Directors on 24 March 202 5 at fair value. Any gain or loss arising from a change in fair value is recognised in the profit and loss account.

B & S PROPERTIES (LEWISHAM) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 24 MARCH 2025
- 5 -
6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
8,154
8,945
Corporation tax recoverable
-
0
2,724
Other debtors
910
10,817
9,064
22,486
7
Creditors: amounts falling due within one year
2025
2024
£
£
Corporation tax
254
-
0
Other creditors
9,750
4,000
10,004
4,000
8
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2025
2024
Balances:
£
£
Investment property
278,817
247,567
2025
Movements in the year:
£
Liability at 25 March 2024
247,567
Charge to profit or loss
31,250
Liability at 24 March 2025
278,817
9
Revaluation reserve

The amount included in other reserves are non distributable.

10
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

B & S PROPERTIES (LEWISHAM) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 24 MARCH 2025
10
Related party transactions
(Continued)
- 6 -

Included in other creditors is a related party balance owed to Leahurst Property Company (Lewisham) Limited of 202 5: £5,000 (202 4: £10,000 - debtor).

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