Bilston & Longford Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00469144 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2019

for

Bilston & Longford Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs J Moore

J Moore

W D Moyle

C W Moyle

TJ Prosser

SECRETARY:

Mrs J Moore

REGISTERED OFFICE:

Chipping Court

Alveston Hill

Stratford-Upon-Avon

Warwickshire

CV37 7RR

REGISTERED NUMBER:

00469144 (England and Wales)

ACCOUNTANTS:

Colin Meager & Co. Limited

Chartered Accountants

8 Caroline Point

62 Caroline Street

Jewellery Quarter

Birmingham

West Midlands

B3 1UF

FIXED ASSETS

Investments

4

100,000

-

Investment property

5

1,506,396

1,594,156

1,606,396

1,594,156

CURRENT ASSETS

Debtors

6

174,763

282,005

Cash at bank

333,317

152,179

508,080

434,184

CREDITORS

Amounts falling due within one year

7

45,596

40,345

NET CURRENT ASSETS

462,484

393,839

TOTAL ASSETS LESS CURRENT LIABILITIES

2,068,880

1,987,995

PROVISIONS FOR LIABILITIES

163,837

165,676

NET ASSETS

1,905,043

1,822,319

CAPITAL AND RESERVES

Called up share capital

8

8,000

8,000

Revaluation reserve

9

1,067,861

1,348,960

Retained earnings

9

829,182

465,359

SHAREHOLDERS' FUNDS

1,905,043

1,822,319

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2019 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 30 November 2020 and were signed on its behalf by:

J Moore - Director

C W Moyle - Director

1.	STATUTORY INFORMATION

Bilston & Longford 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 place of business is 2 Alveston Hill Farm Cottages, Alveston Hill, Stratford upon Avon, Warwickshire CV37 7RR.

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 represents the sale of investment properties for the year, excluding value added tax.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at 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.

Investment property, which consists of freehold and leasehold land and buildings, freehold ground rents and intermediate ground rents are initially measured at cost. Tenanted Houses let on Assured Shorthold leases are subsequently valued at their current open market value less an appropriate discount to reflect the absence of vacant possession. Freehold Ground Rents and Intermediate Leasehold Ground Rents are valued at cost as the directors are of the opinion that the cost of a full valuation would outweigh any benefits so received.

Any gain or loss on disposal of investment property is recognised in the profit and loss account.

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 (2018 - NIL).

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST OR VALUATION

Additions

100,000

At 31 December 2019

100,000

NET BOOK VALUE

At 31 December 2019

100,000

Cost or valuation at 31 December 2019 is represented by:

Shares in

group

undertakings

£

Cost

100,000

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2019

1,594,156

Disposals

(87,760

)

At 31 December 2019

1,506,396

NET BOOK VALUE

At 31 December 2019

1,506,396

At 31 December 2018

1,594,156

Fair value at 31 December 2019 is represented by:

£

Valuation in 2019

1,435,000

Cost

71,396

1,506,396

If investment property had not been revalued it would have been included at the following historical cost:

31.12.19

31.12.18

£

£

Cost

367,138

367,484

Investment property was valued on an open market basis on 31 December 2019 by the directors .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.19

31.12.18

£

£

Trade debtors

8,588

13,912

Amounts owed by group undertakings

162,049

262,723

Prepayments

4,126

5,370

174,763

282,005

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.19

31.12.18

£

£

Trade creditors

1

1

Tax

43,698

38,568

Other creditors

201

200

Accruals and deferred income

1,696

1,576

45,596

40,345

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.19

31.12.18

value:

£

£

8,000

Ordinary

1

8,000

8,000

9.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

£

£

At 1 January 2019

465,359

1,348,960

1,814,319

Profit for the year

82,724

82,724

Realised Revaluation Transfer

281,099

(281,099

)

-

At 31 December 2019

829,182

1,067,861

1,897,043

10.	RELATED PARTY DISCLOSURES

At the year end Marden Ltd a company with common directors owes £162,049 which is included in amounts owed to group undertakings and also £400 of deposits which are included in prepayments.