BG Funding Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 02026381 (England and Wales)

Unaudited Financial Statements

for the Period 1 April 2023 to 31 August 2024

for

BG Funding Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C Chrysostomou

Mrs N Kent

REGISTERED OFFICE:

Drmg House

Cremers Road

Sittingbourne

Kent

ME10 3US

REGISTERED NUMBER:

02026381 (England and Wales)

ACCOUNTANTS:

Thornton Springer LLP

Chartered Accountants

67 Westow Street

London

SE19 3RW

FIXED ASSETS

Investments

4

300

Investment property

5

16,526,000

16,526,300

CURRENT ASSETS

Debtors

6

665,021

607,857

Cash at bank

40,989

-

706,010

607,857

CREDITORS

Amounts falling due within one year

7

(4,117,433

)

(3,376,227

)

NET CURRENT LIABILITIES

(3,411,423

)

(2,768,370

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

13,114,877

13,757,930

CREDITORS

Amounts falling due after more than one
year

8

(27,860

)

(27,860

)

PROVISIONS FOR LIABILITIES

(2,253,991

)

(2,253,991

)

NET ASSETS

10,833,026

11,476,079

CAPITAL AND RESERVES

Called up share capital

210,000

Share premium

612,000

Fair value reserve

9

8,633,788

Retained earnings

1,377,238

2,020,291

SHAREHOLDERS' FUNDS

10,833,026

11,476,079

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 August 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 July 2026 and were signed on its behalf by:

C Chrysostomou - Director

1.	STATUTORY INFORMATION

BG Funding Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under historical cost convention as modified by the recognition of certain financial assets and liabilities measured at fair value.

Turnover

Turnover represents rent receivable, loan interest and invoiced sales of goods, excluding value added tax.

Investments in associates

Investments in associate undertakings are recognised at cost.

Investment property

Investment properties are initially recognised at cost which includes purchase cost and any directly attributable expenditure. Investment properties are measured at fair value. The surplus or deficit arising on the revaluation of investment properties at their fair values are recognised in the income statement.

Taxation

Taxation for the period 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 period 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 3 (2023 - 4 ) .

4.	FIXED ASSET INVESTMENTS

Interest

in

associate

£

COST

At 1 April 2023

and 31 August 2024

300

NET BOOK VALUE

At 31 August 2024

300

At 31 March 2023

300

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2023

and 31 August 2024

16,526,000

NET BOOK VALUE

At 31 August 2024

16,526,000

At 31 March 2023

16,526,000

The investment properties are valued annually by the directors on an open market existing use basis.

The historical cost of the investment properties amounted to £5,638,221 (2023 - £5,638,221).

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.24

31.3.23

£

Other debtors

665,021

607,857

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.24

31.3.23

£

Bank loans and overdrafts

12,280

11,030

Amounts owed to group undertakings

3,258,925

2,678,953

Taxation and social security

58,730

53,995

Other creditors

787,498

632,249

4,117,433

3,376,227

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.8.24

31.3.23

£

Bank loans

27,860

9.

RESERVES

Fair

value

reserve

£

At 1 April 2023

and 31 August 2024

8,633,788