Buchanan First Properties Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 03954492 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

FOR

BUCHANAN FIRST PROPERTIES LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

D J Hilder

REGISTERED OFFICE:

30-34 North Street

Hailsham

East Sussex

BN27 1DW

REGISTERED NUMBER:

03954492 (England and Wales)

ACCOUNTANTS:

Watson Associates (Professional Services) Limited

30 - 34 North Street

Hailsham

East Sussex

BN27 1DW

FIXED ASSETS

Tangible assets

4

16,731

17,657

Investment property

5

3,309,912

3,326,643

3,327,569

CURRENT ASSETS

Debtors

6

2,251

8,927

Cash at bank

16,452

19

18,703

8,946

CREDITORS

Amounts falling due within one year

7

(35,612

)

(13,937

)

NET CURRENT LIABILITIES

(16,909

)

(4,991

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

3,309,734

3,322,578

CREDITORS

Amounts falling due after more than one
year

8

(1,792,657

)

(1,776,754

)

PROVISIONS FOR LIABILITIES

(277,903

)

(278,137

)

NET ASSETS

1,239,174

1,267,687

CAPITAL AND RESERVES

Called up share capital

9

1,000

Non distributable reserves

1,353,006

1,353,003

Retained earnings

(114,832

)

(86,316

)

SHAREHOLDERS' FUNDS

1,239,174

1,267,687

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 in accordance with Section 476 of the Companies Act 2006.

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.

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 7 August 2026 and were signed by:

D J Hilder - Director

1.	STATUTORY INFORMATION

Buchanan First Properties Ltd 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

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.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, and loans to related parties.

Debt instruments that are payable or receivable within one year, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received; other debt instruments are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the balance sheet only when there is an 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.

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 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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2025 - NIL).

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

COST

At 1 April 2025

9,500

500

10,000

959

20,959

Additions

3,180

-

11,782

298

15,260

Disposals

-

(10,000

)

-

(10,000

)

At 31 March 2026

12,680

500

11,782

1,257

26,219

DEPRECIATION

At 1 April 2025

1,069

94

1,875

264

3,302

Charge for year

1,423

101

6,147

390

8,061

Eliminated on disposal

-

(1,875

)

-

(1,875

)

At 31 March 2026

2,492

195

6,147

654

9,488

NET BOOK VALUE

At 31 March 2026

10,188

305

5,635

603

16,731

At 31 March 2025

8,431

406

8,125

695

17,657

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2025

and 31 March 2026

3,309,912

NET BOOK VALUE

At 31 March 2026

3,309,912

At 31 March 2025

3,309,912

Fair value at 31 March 2026 is represented by:

£

Valuation in 2020

889,672

Valuation in 2021

516,464

Valuation in 2022

220,590

Cost

1,683,186

3,309,912

If investment properties had not been revalued they would have been included at the following historical cost:

2026

2025

£

Cost

1,683,186

Investment properties were valued on an open market value basis on 31 March 2026 by the director .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

Other debtors

2,251

8,927

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

Bank loans and overdrafts

8,167

7,784

Hire purchase contracts

4,050

-

Taxation and social security

(5,105

)

(6,080

)

Other creditors

28,500

12,233

35,612

13,937

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2026

2025

£

Bank loans

1,792,657

1,776,754

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

1,792,657

1,776,754

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2026

2025

value:

£

972

Ordinary

£1

972

14

A Ordinary

£1

14

B Ordinary

£1

14

1,000