| REGISTERED NUMBER: |
| B J S Properties Ltd |
| Unaudited Financial Statements |
| for the Year Ended 31 March 2025 |
| REGISTERED NUMBER: |
| B J S Properties Ltd |
| Unaudited Financial Statements |
| for the Year Ended 31 March 2025 |
| B J S Properties Ltd (Registered number: 01574207) |
| Contents of the Financial Statements |
| for the Year Ended 31 March 2025 |
| Page |
| Company information | 1 |
| Chartered accountants' report | 2 |
| Statement of financial position | 3 | to | 4 |
| Notes to the financial statements | 5 | to | 10 |
| B J S Properties Ltd |
| Company Information |
| for the Year Ended 31 March 2025 |
| Director: |
| Registered office: |
| Business address: |
| Registered number: |
| Accountants: |
| Bank House |
| Broad Street |
| Spalding |
| Lincolnshire |
| PE11 1TB |
| Chartered Accountants' Report to the Director |
| on the Unaudited Financial Statements of |
| B J S Properties Ltd |
| The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of financial position. Readers are cautioned that the Income statement and certain other primary statements and the Director's report are not required to be filed with the Registrar of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of B J S Properties Ltd for the year ended 31 March 2025 which comprise the Income statement, Statement of financial position, Statement of changes in equity and the related notes from the company's accounting records and from information and explanations you have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
| This report is made solely to the director of B J S Properties Ltd in accordance with the terms of our engagement letter dated 21 September 2018. Our work has been undertaken solely to prepare for your approval the financial statements of B J S Properties Ltd and state those matters that we have agreed to state to the director of B J S Properties Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than B J S Properties Ltd and its director for our work or for this report. |
| It is your duty to ensure that B J S Properties Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of B J S Properties Ltd. You consider that B J S Properties Ltd is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of B J S Properties Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| Bank House |
| Broad Street |
| Spalding |
| Lincolnshire |
| PE11 1TB |
| B J S Properties Ltd (Registered number: 01574207) |
| Statement of Financial Position |
| 31 March 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ | £ |
| Fixed assets |
| Tangible assets | 5 |
| Investment property | 6 |
| Current assets |
| Stocks |
| Debtors | 7 |
| Cash at bank |
| Creditors |
| Amounts falling due within one year | 8 |
| Net current assets |
| Total assets less current liabilities |
| Provisions for liabilities |
| Net assets |
| Capital and reserves |
| Called up share capital | 9 |
| Revaluation reserve |
| Other reserves |
| Retained earnings |
| Shareholders' funds |
| The director acknowledges his 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. |
| B J S Properties Ltd (Registered number: 01574207) |
| Statement of Financial Position - continued |
| 31 March 2025 |
| The financial statements were approved by the director and authorised for issue on |
| B J S Properties Ltd (Registered number: 01574207) |
| Notes to the Financial Statements |
| for the Year Ended 31 March 2025 |
| 1. | Statutory information |
| B J S Properties Ltd is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | Statement of compliance |
| 3. | Accounting policies |
| Basis of preparing the financial statements |
| 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. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Freehold property | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Cabins and offices | - |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
| B J S Properties Ltd (Registered number: 01574207) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 3. | Accounting policies - continued |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| Finance leases and hire purchase contracts |
| Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. |
| Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability. |
| 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. |
| Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises. |
| Financial instruments |
| 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 entity after deducting all of its financial liabilities. |
| Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. |
| Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity. |
| B J S Properties Ltd (Registered number: 01574207) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 4. | Employees and directors |
| The average number of employees during the year was |
| 5. | Tangible fixed assets |
| Fixtures |
| Freehold | Plant and | and |
| property | machinery | fittings |
| £ | £ | £ |
| Cost |
| At 1 April 2024 |
| Additions |
| Disposals |
| At 31 March 2025 |
| Depreciation |
| At 1 April 2024 |
| Charge for year |
| Eliminated on disposal |
| At 31 March 2025 |
| Net book value |
| At 31 March 2025 |
| At 31 March 2024 |
| Cabins |
| Motor | and |
| vehicles | offices | Totals |
| £ | £ | £ |
| Cost |
| At 1 April 2024 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 March 2025 |
| Depreciation |
| At 1 April 2024 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 March 2025 |
| Net book value |
| At 31 March 2025 |
| At 31 March 2024 |
| B J S Properties Ltd (Registered number: 01574207) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 5. | Tangible fixed assets - continued |
| The freehold land and property owned by the company was revalued on 2 April 2007 on the basis of an open market valuation for existing use by Messrs R Longstaff & Co., Chartered Surveyors to a value of £225,000. The historical cost of freehold property is £18,930 (2024 - £18,930). |
| In addition, during 2012, the company started work on developing the property situated on the freehold site for subsequent letting. This work was substantially completed during 2012/13 and in total cost £123,308. |
| On completion of the development in September 2012 the site was revalued, again on a current open market value basis by Ark Property Centre, with the value being increased to £450,000. |
| During 2015 the company acquired an additional area of land adjacent to its existing site which is being used to expand its commercial operations. The purchase price and re-development costs to date amount to £144,319 (2024 - £144,319). |
| The whole site was valued during 2018/19 by Arc Property Estate Agents and has been included in the accounts at the revised fair value calculation of £1,000,000.The director is of the belief that this valuation remains a fair market value for the site as at 31 March 2025. |
| 6. | Investment property |
| Total |
| £ |
| Fair value |
| At 1 April 2024 |
| Additions |
| Revaluations | 60,914 |
| At 31 March 2025 |
| Net book value |
| At 31 March 2025 |
| At 31 March 2024 |
| The company owns three investment properties, two have been held for a number of years, the third being acquired on 22 January 2024 and has under renovation since its purchase. The initial two properties were initially revalued on 2 April 2007 on the basis of an open market valuation for existing use by Messrs R Longstaff & Co., Chartered Surveyors. The historical cost of these investment properties is £172,416 (2024 - £172,416). |
| The fair value of these original two properties, included in "Investment Property" is £255,000 as at 31 March 2025 (2024 - £255,000) following the director's valuation of the properties at the year end. The director is of the belief that this valuation remains a fair market value for these properties. |
| During the current year a further £1,131 expenditure was incurred on 5 Elm Villas, the investment property acquired in 2024 bringing the accumulated cost to £314,086. The director believes the property's fair value at the 31 March 2025 is £375,000 and, accordingly, a revaluation adjustment of £60,914 has been included in these accounts. |
| Any annual changes in fair value of the properties is recognised in the profit and loss account. |
| B J S Properties Ltd (Registered number: 01574207) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 6. | Investment property - continued |
| Fair value at 31 March 2025 is represented by: |
| £ |
| Valuation in 2007 | 50,084 |
| Valuation in 2019 | 27,500 |
| Valuation in 2021 | 15,000 |
| Valuation in 2022 | (10,000 | ) |
| Valuation in 2025 | 60,914 |
| Cost | 486,502 |
| 630,000 |
| 7. | Debtors: amounts falling due within one year |
| 2025 | 2024 |
| £ | £ |
| Trade debtors |
| Other debtors | 1,125 | 885 |
| Inter company loan to Stamp Properties Limited |
645,556 |
652,554 |
| Directors' current accounts | - | 8,811 |
| Prepayments |
| 8. | Creditors: amounts falling due within one year |
| 2025 | 2024 |
| £ | £ |
| Hire purchase contracts |
| Trade creditors |
| Corporation tax |
| PAYE and NIC |
| VAT | 13,583 | 15,903 |
| Pension fund | 196 | 367 |
| Wages and salaries control | 1,932 | 1,531 |
| Directors' current accounts | 878 | - |
| Accruals and deferred income |
| 9. | Called up share capital |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2025 | 2024 |
| value: | £ | £ |
| Ordinary shares | £1 | 100 | 100 |
| B J S Properties Ltd (Registered number: 01574207) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 10. | Director's advances, credits and guarantees |
| The following advances and credits to a director subsisted during the years ended 31 March 2025 and 31 March 2024: |
| 2025 | 2024 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year | ( |
) |