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BPC Yorkshire Limited Registered number: 06076220 Information for filing with the Registrar For the year ended 31 May 2025
|  | 06076220 31 May 2025
BPC YORKSHIRE LIMITED REGISTERED NUMBER: 06076220 STATEMENT OF FINANCIAL POSITION AS AT 31 MAY 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Investment property | 5 |  | 150,979 |  | 150,000
|  |  | 150,979 |  | 150,000
Current assets |  |  |  |  |
Stocks | 6 | 3,352,092 |  | 3,347,367 |
Debtors: amounts falling due within one year | 7 | 48,332 |  | 21,871 |
Cash at bank and in hand | 8 | 59,811 |  | 113,286 |
|  | 3,460,235 |  | 3,482,524 |
Creditors: amounts falling due within one year | 9 | (4,598,882) |  | (2,902,995) |
Net current (liabilities)/assets |  |  | (1,138,647) |  | 579,529
Total assets less current liabilities |  |  | (987,668) |  | 729,529
Creditors: amounts falling due after more than one year | 10 |  | (205,593) |  | (1,889,330)
Net liabilities |  |  | (1,193,261) |  | (1,159,801)
Capital and reserves |  |  |  |  |
Called up share capital | 12 |  | 3 |  | 3
Profit and loss account | 13 |  | (1,193,264) |  | (1,159,804)
|  |  | (1,193,261) |  | (1,159,801)
- 1 -
|  | 06076220 31 May 2025
BPC YORKSHIRE LIMITED REGISTERED NUMBER: 06076220 STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 31 MAY 2025 The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 January 2026.
J S Brooksbank
Director
The notes on pages 3 to 11 form part of these financial statements. - 2 -
|  | 06076220 31 May 2025
BPC YORKSHIRE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025
1. | General information
BPC Yorkshire Limited ("the Company”) is a private company, limited by shares and registered in England and Wales, registered number 06076220. The address of the registered office is Clifton House, Birkby Lane, Bailiff Bridge, Brighouse, England, HD6 4JJ. The principal activity of the Company is that of buying and selling owned real estate 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3). These financial statements have been presented in pound sterling which is the functional currency of the Company, and rounded to the nearest £. The following principal accounting policies have been applied:
| 2.2 | Going concern
The use of the going concern basis of accounting is appropriate because there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the Company to continue as a going concern. The Company has the financial support of group and connected undertakings which ensures that the Company is able to meet all its working capital requirement.
| 2.3 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Rendering of services Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the contract; ∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and ∙the costs incurred and the costs to complete the contract can be measured reliably. - 3 -
|  | 06076220 31 May 2025
BPC YORKSHIRE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025 2.Accounting policies (continued)
| 2.3 | Revenue (continued)
Rental income Income from the letting and maintenance of investment property and development properties is recognised in the Statement of Comprehensive Income on a straight-line basis over the lease term.
| 2.4 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.5 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.6 | Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
| 2.7 | Investment property
Investment property is carried at fair value determined annually by the director where the value has not been deemed to of changed significantly from its previously stated value. When the value is deemed to of changed significantly the fair value is determined by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.
| 2.8 | Development stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
| 2.9 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.10 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. - 4 -
|  | 06076220 31 May 2025
BPC YORKSHIRE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025 2.Accounting policies (continued)
| 2.11 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
| 2.12 | Financial instruments
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments. The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102. Financial instruments are recognised in the Company's Statement of Financial Position 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 trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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. Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments. Impairment of financial assets At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate. If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss. - 5 -
|  | 06076220 31 May 2025
BPC YORKSHIRE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025 2.Accounting policies (continued)
| 2.12 | Financial instruments (continued)
Basic 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 the deduction of all its liabilities. Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial. Debt instruments are subsequently carried at their amortised cost using the effective interest rate method. Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial. Derecognition of financial instruments Derecognition of financial assets Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained. Derecognition of financial liabilities Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled. - 6 -
|  | 06076220 31 May 2025
BPC YORKSHIRE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025
3. | Judgements in applying accounting policies and key sources of estimation uncertainty
Critical judgements in applying the Company's accounting policies The critical judgements that the director has made in the process of applying the Company's accounting policies that have the most significant effect on the statutory financial statements are discussed below. (i) Assessing indicators of impairment In assessing whether there have been any indicators of impairment of assets, the director has considered both external and internal sources of information such as market conditions, counterparty credit ratings and experience of recoverability. There have been no indicators of impairments identified during the current financial year. (ii) Investment property valuation Investment properties are subject to valuation on an annual basis. The director applies his judgement in assessing the valuation where the value has not been deemed to of changed significantly from its previously stated value. When the value is deemed to of changed significantly, the director will obtain a valuation by an appropriately qualified valuer. These valuations are inherently judgemental, but the director believes the surveyors responsible are appropriately qualified and experienced. (iii) Development stock valuation A key area of estimation uncertainty in preparing the financial statements is in relation to assessing the impairment of stock. Net realisable value of property held for sale is assessed by the directors using knowledge of the sites, the local property market and available market data. Costs to complete of work in progress are assessed by management based on discussions and correspondence with developers. Key sources of estimation uncertainty (i) Recoverability of debtors The Company establishes a provision for debtors that are estimated not to be recoverable. When assessing recoverability, the director has considered factors such as the aging of the debtors, past experience of recoverability, and the credit profile of individual or groups of customers.
4. | Employees
| The average monthly number of employees, including directors, during the year was 1 (2024 - 1).
- 7 -
|  | 06076220 31 May 2025
BPC YORKSHIRE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025
5. | Investment property
|  | Freehold investment property
|  | £
| Valuation |
| At 1 June 2024 | 150,000
| Additions at cost | 979
| At 31 May 2025 | 150,979
The 2025 valuations were made by the director, on an open market value for existing use basis.
6. | Stocks
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Development properties | 3,352,092 | 3,347,367
7. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 10,154 | 19,595
| Amounts owed by connected undertakings | 25,000 | -
| Prepayments and accrued income | 13,178 | 2,276
|  | 48,332 | 21,871
| Amounts owed by connected undertakings are unsecured, interest free and repayable on demand.
8. | Cash and cash equivalents
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 59,811 | 113,286
- 8 -
|  | 06076220 31 May 2025
BPC YORKSHIRE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025
9. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | 1,682,545 | 7,988
| Trade creditors | 5,026 | 977
| Amounts owed to group undertakings | 2,014,858 | 1,993,279
| Amounts owed to connected undertakings | 351,759 | 354,999
| Other taxation and social security | 1,454 | 1,432
| Other creditors | 513,507 | 512,185
| Accruals and deferred income | 29,733 | 32,135
|  | 4,598,882 | 2,902,995
| Amounts owed to group and connected undertakings are unsecured, interest free and repayable on demand.
10. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | 205,593 | 1,889,330
- 9 -
|  | 06076220 31 May 2025
BPC YORKSHIRE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025
11. | Loans
| Analysis of the maturity of loans is given below:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Amounts falling due within one year |  |
| Bank loans | 1,682,545 | 7,988
| Amounts falling due 1-2 years |  |
| Bank loans | 10,074 | 1,682,396
| Amounts falling due 2-5 years |  |
| Bank loans | 37,646 | 33,230
| Amounts falling due after more than 5 years |  |
| Bank loans | 157,873 | 173,704
|  | 1,888,138 | 1,897,318
| The bank loans are secured by a mortgage, legal charge and debenture comprising fixed and floating charges over all the assets and undertakings of the Company and a personal guarantee provided by the director.
12. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 3 (2024 - 3) Ordinary shares of £1.00 each | 3 | 3
13. | Reserves
Profit & loss account The profit and loss account reserve represents cumulative profits and losses made by the Company to date. - 10 -
|  | 06076220 31 May 2025
BPC YORKSHIRE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025
14. | Related party transactions
| The Company is a wholly owned subsidiary of the group headed by Blackshaw Holdings (2014) Limited and as such has taken advantage of the exemption permitted by Section 33 'Related Party Disclosures' not to provide disclosures of transactions entered into with the parent company or other wholly owned subsidiaries within the group. During the year the Company received funds and loaned funds to related companies in which J S Brooksbank is also a director At the year end, the following amounts were due to related parties:
|  | 2025 | 2024
|  | £ | £
| Amounts due to connected companies | 326,759 | 354,999
| J S Brooksbank - director | 291,325 | 291,325
15. | Post balance sheet events
Following the year end the Company has transferred all property held to another wholly owned group company and all bank loans have been repaid.
16. | Controlling party
The immediate and ultimate parent company is Blackshaw Holdings Limited and Blackshaw Holdings (2014) Limited, respectively, and both companies are incorporated in England and Wales. There is no ultimate controlling party.
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