B.G.C. Property Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 03042887 (England and Wales)

B.G.C. PROPERTY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2025

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mr B E Gray

Mr B A Gray

REGISTERED OFFICE:

Building 1063

Cornforth Drive

Kent Science Park

Sittingbourne

Kent

ME9 8PX

REGISTERED NUMBER:

03042887 (England and Wales)

ACCOUNTANTS:

McCabe Ford Williams

Chartered Accountants

Building 1063

Cornforth Drive

Kent Science Park

SITTINGBOURNE

Kent

ME9 8PX

FIXED ASSETS

Tangible assets

5

7,416

9,888

Investments

6

100

Investment property

7

3,815,000

3,822,516

3,824,988

CURRENT ASSETS

Debtors

8

485,789

497,588

Cash at bank

34,896

187,728

520,685

685,316

CREDITORS

Amounts falling due within one year

9

81,141

203,914

NET CURRENT ASSETS

439,544

481,402

TOTAL ASSETS LESS CURRENT
LIABILITIES

4,262,060

4,306,390

PROVISIONS FOR LIABILITIES

489,862

490,480

NET ASSETS

3,772,198

3,815,910

CAPITAL AND RESERVES

Called up share capital

10

1,000

Non distributable reserve

11

2,242,809

2,250,444

Retained earnings

11

1,528,389

1,564,466

SHAREHOLDERS' FUNDS

3,772,198

3,815,910

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2025 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 14 November 2025 and were signed on its behalf by:

Mr B E Gray - Director

Mr B A Gray - Director

1.	STATUTORY INFORMATION

B.G.C. Property 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Significant judgements and estimates

In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period to which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects both current and future periods. The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are the valuation of investment properties and the related deferred tax provision arising on the estimated capital gains.

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

-

25% on reducing balance

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 enters into basic financial instruments 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.

a) Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

b) Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand.

c) Impairment of financial assets

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.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

d) Trade and other creditors

Debt instruments like loans and other accounts payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable within one year, typically trade payables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an outright short-term loan not at market rate, the financial asset is measured, initially and subsequently, at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position 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 statement of financial position date.

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.

Impairment of non-financial assets

At each reporting date non-financial assets not carried at fair value, like plant and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets, which is the higher of value in use and the fair value less cost to sell, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit and loss.

Inventories are also assessed for impairment at each reporting date. Each item of inventory is compared to the last sold date and an impairment loss recognised on a percentage basis in profit and loss.

If an impairment loss is subsequently reversed, the carrying amount of the asset or group of related assets is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset or group of related assets in prior periods. A reversal of an impairment loss is recognised immediately in profit and loss.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 May 2024

and 30 April 2025

25,000

DEPRECIATION

At 1 May 2024

15,112

Charge for year

2,472

At 30 April 2025

17,584

NET BOOK VALUE

At 30 April 2025

7,416

At 30 April 2024

9,888

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 May 2024

and 30 April 2025

100

NET BOOK VALUE

At 30 April 2025

100

At 30 April 2024

100

On 20 December 2023, the company purchased 100 ordinary shares in Industrial Properties Whitstable Limited.

7.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 May 2024

and 30 April 2025

3,815,000

NET BOOK VALUE

At 30 April 2025

3,815,000

At 30 April 2024

3,815,000

Fair value at 30 April 2025 is represented by:

£

Valuation in 2018

2,904,975

Valuation in 2024

(17,158

)

Cost

927,183

3,815,000

Investment property was valued on an open market basis on 30 April 2025 by the directors .

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.25

30.4.24

£

Trade debtors

1,520

18,594

Other debtors - Bedrock Ltd

3,483

Subsidiary company loan

477,100

473,505

Prepayments and accrued income

3,686

2,006

485,789

497,588

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.25

30.4.24

£

Other taxes and PAYE

22,789

99,680

Accrued expenses

14,753

11,952

Directors' Current Accounts

43,599

92,282

81,141

203,914

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.25

30.4.24

value:

£

334

Ordinary A

£1

334

333

Ordinary B

£1

333

Ordinary C

£1

333

1,000

11.

RESERVES

Non

Retained

distributable

earnings

reserve

Totals

£

At 1 May 2024

1,564,466

2,250,444

3,814,910

Profit for the year

68,288

-

68,288

Dividends

(112,000

)

-

(112,000

)

Movement in deferred taxation

7,635

(7,635

)

-

At 30 April 2025

1,528,389

2,242,809

3,771,198