Bogota Estates Limited Filleted accounts for Companies House (small and micro)

BOGOTA ESTATES LIMITED - Company Information

0 false false false false false false false false false true false false false false false false No description of principal activity 2019-11-01 Sage Accounts Production Advanced 2020 - FRS102_2019 2,750,000 300,000 2,450,000 2,450,000 2,750,000 48,906 48,906 xbrli:pure xbrli:shares iso4217:GBP 09790702 2019-11-01 2020-10-31 09790702 2020-10-31 09790702 2019-10-31 09790702 2019-10-31 09790702 bus:Director1 2019-11-01 2020-10-31 09790702 core:WithinOneYear 2020-10-31 09790702 core:WithinOneYear 2019-10-31 09790702 core:AfterOneYear 2020-10-31 09790702 core:AfterOneYear 2019-10-31 09790702 core:ShareCapital 2020-10-31 09790702 core:ShareCapital 2019-10-31 09790702 core:RetainedEarningsAccumulatedLosses 2020-10-31 09790702 core:RetainedEarningsAccumulatedLosses 2019-10-31 09790702 core:CostValuation core:Non-currentFinancialInstruments 2019-10-31 09790702 core:Non-currentFinancialInstruments core:RevaluationsIncreaseDecreaseInInvestments 2020-10-31 09790702 core:CostValuation core:Non-currentFinancialInstruments 2020-10-31 09790702 core:Non-currentFinancialInstruments 2020-10-31 09790702 core:Non-currentFinancialInstruments 2019-10-31 09790702 core:RevaluationInvestmentPropertyDeferredTax 2019-10-31 09790702 core:DeferredTaxation 2019-10-31 09790702 core:DeferredTaxation 2019-11-01 2020-10-31 09790702 bus:SmallEntities 2019-11-01 2020-10-31 09790702 bus:AuditExempt-NoAccountantsReport 2019-11-01 2020-10-31 09790702 bus:FullAccounts 2019-11-01 2020-10-31 09790702 bus:SmallCompaniesRegimeForAccounts 2019-11-01 2020-10-31 09790702 bus:PrivateLimitedCompanyLtd 2019-11-01 2020-10-31

COMPANY REGISTRATION NUMBER: 09790702

Bogota Estates Limited

Filleted Unaudited Financial Statements

31 October 2020

Bogota Estates Limited

Balance Sheet

31 October 2020

	2020		2019
Note	£	£	£

Fixed assets

Investments	4		2,450,000	2,750,000

Current assets

Debtors	5	1,163	1,163
Cash at bank and in hand		91,939	142,048
		--------	---------
		93,102	143,211

Creditors: amounts falling due within one year	6	118,112		145,537
		---------		---------
Net current liabilities			25,010	2,326
			------------	------------
Total assets less current liabilities			2,424,990	2,747,674

Creditors: amounts falling due after more than one year	7		2,120,000	2,230,000

Provisions	8	–	48,906
		------------	------------
Net assets		304,990	468,768
		------------	------------

Capital and reserves

Called up share capital		1,300	1,300
Profit and loss account	10	303,690	467,468
		---------	---------
Shareholders funds		304,990	468,768
		---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 October 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Bogota Estates Limited

Balance Sheet (continued)

31 October 2020

These financial statements were approved by the board of directors and authorised for issue on 31 March 2021 , and are signed on behalf of the board by:

Mr H H Shah

Director

Company registration number: 09790702

Bogota Estates Limited

Notes to the Financial Statements

Year ended 31 October 2020

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Kimberley House, 31 Burnt Oak Broadway, Edgware, Greater London, HA8 5LD.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

The rental income shown in the profit and loss account represents amounts receivable for the period, exclusive of Value Added Tax.

Deferred tax

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Investments

Investment properties are revalued annually to their fair value and any surplus or deficit is dealt with through profit and loss. No depreciation is provided in respect of investment properties.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the balance sheet and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Investments

	Investment property
	£
Cost
At 1 November 2019	2,750,000
Revaluations	( 300,000)
	------------
At 31 October 2020	2,450,000
	------------
Impairment
At 1 November 2019 and 31 October 2020	–
	------------

Carrying amount
At 31 October 2020	2,450,000
	------------
At 31 October 2019	2,750,000
	------------

The company's investment property has been stated in accordance with a valuation dated 4 March 2021, conducted by a RICS registerd chartered surveyor on behalf Allsop LLP, an independent property consultant, on an open market basis.

The comparable historical cost value of the company's investment property would be £2,342,920.

5. Debtors

	2020	2019
	£	£
Other debtors	1,163	1,163
	-------	-------

6. Creditors: amounts falling due within one year

	2020	2019
	£	£
Bank loans	60,000	60,000
Corporation tax	20,481	18,822
Social security and other taxes	7,118	19,794
Other creditors	30,513	46,921
	---------	---------
	118,112	145,537
	---------	---------

7. Creditors: amounts falling due after more than one year

	2020	2019
	£	£
Bank loans	820,000	930,000
Other creditors	1,300,000	1,300,000
	------------	------------
	2,120,000	2,230,000
	------------	------------

The aggregate amount of creditors which are secured by a first legal charge over the company's investment property amounted to £880,000 (2019: £990,000).

Other creditors comprise of shareholders loans, which are interest free and with no fixed repayment date. The directors do not foresee any amount of the loans to be repaid within 12 months of the reporting date and therefore it has been disclosed under amounts falling due after more than one year.

8. Provisions

	Deferred tax (note 9)
	£
At 1 November 2019	48,906
Unused amounts reversed	( 48,906)
	--------
At 31 October 2020	–
	--------

9. Deferred tax

The deferred tax included in the balance sheet is as follows:

	2020	2019
	£	£
Included in provisions (note 8)	–	48,906
	----	--------

The deferred tax account consists of the tax effect of timing differences in respect of:

	2020	2019
	£	£
Fair value adjustment of investment property	–	48,906
	----	--------

10. Profit and loss account

	2020	2019
	£	£
Distributable reserves	196,610	109,294
Fair value gains on investment property	107,080	358,174
	---------	---------
	303,690	467,468
	---------	---------