Company No:
Contents
| Note | 2026 | 2025 | ||
| £ | £ | |||
| Fixed assets | ||||
| Investment property | 3 |
|
|
|
| 5,035,000 | 5,035,000 | |||
| Current assets | ||||
| Debtors | 4 |
|
|
|
| Cash at bank and in hand |
|
|
||
| 108,805 | 85,296 | |||
| Creditors: amounts falling due within one year | 5 | (
|
(
|
|
| Net current liabilities | (12,093) | (274,828) | ||
| Total assets less current liabilities | 5,022,907 | 4,760,172 | ||
| Creditors: amounts falling due after more than one year | 6 | (
|
(
|
|
| Provision for liabilities | (
|
(
|
||
| Net assets |
|
|
||
| Capital and reserves | ||||
| Called-up share capital | 7 |
|
|
|
| Share premium account |
|
|
||
| Profit and loss account | 10 |
|
|
|
| Total shareholders' funds |
|
|
Directors' responsibilities:
The financial statements of Bristol Triangle Properties Limited (registered number:
|
Mr S B Harris
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Bristol Triangle Properties Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Bishop Fleming Llp, 10 Temple Back, Bristol, BS1 6FL, United Kingdom. The principal place of business is 132 Whiteladies Road, Clifton, Bristol, BS8 2RS.
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 items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Amounts received in advance are deferred and recognised over the relevant period, while accrued income is recognised where rental income has been earned but not yet received.
Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so 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.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.
Non-financial assets
If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
Where it is not possible to estimate the recoverable amount of an individual asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
The fair value is determined annually by external valuers and the directors derived from current market rent and investment property yields for comparable real estate, adjusted if necessary, for any difference in nature, location or condition of the specific property.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
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 deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
| 2026 | 2025 | ||
| Number | Number | ||
| Monthly average number of persons employed by the Company during the year, including directors |
|
|
| Investment property | |
| £ | |
| Valuation | |
| As at 01 May 2025 |
|
| As at 30 April 2026 |
|
Valuation
No independent valuation of the Company's investment properties were undertaken during the year ended 30 April 2026. The directors have reviewed market conditions and property-specific factors and consider that there has been no material change in the fair value of the portfolio since the valuation performed by CSquared Real Estate LLP on 5 August 2025. The overall fair value of the company's residential investment property portfolio at 30 April 2026 is based of the valuation by CSquared Real Estate LLP and directors estimates on an open market value for existing use basis.
| 2026 | 2025 | ||
| £ | £ | ||
| Prepayments and accrued income |
|
|
|
| Other debtors |
|
|
|
|
|
|
| 2026 | 2025 | ||
| £ | £ | ||
| Bank loans |
|
|
|
| Amounts owed to associates |
|
|
|
| Accruals and deferred income |
|
|
|
| Taxation and social security |
|
|
|
|
|
|
| 2026 | 2025 | ||
| £ | £ | ||
| Bank loans (secured) |
|
|
Amounts repayable after more than 5 years are included in creditors falling due over one year:
| 2026 | 2025 | ||
| £ | £ | ||
| Bank loans (secured) |
|
|
| 2026 | 2025 | ||
| £ | £ | ||
| Allotted, called-up and fully-paid | |||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2,000 | 2,000 |
Other financial commitments
| 2026 | 2025 | ||
| £ | £ | ||
| Commitments in respect to participating interests |
|
|
In the previous year, together with a company under common ownership, the company was subject to an Omnibus Guarantee and set off agreement in favour of the company's bankers. Under this agreement each company has provided a guarantee to settle the total net amounts due to the bank from each company. The agreement was cancelled during the current year.
Transactions with entities in which the entity itself has a participating interest
| 2026 | 2025 | ||
| £ | £ | ||
| Amounts owed to a company under common control | 0 | 100,000 |
The loan is interest free with no fixed date for repayment.
Dividends of £84,000 (2025: £Nil) were paid to the directors during the year.
The profit and loss reserve includes both distributable and non-distributable reserves. Non-distributable reserves represents cumulative gains and losses on the revaluation of investment property, net of deferred tax. At the balance sheet date non-distributable reserves totalled £1,676,743 (2025: £1,676,743).