Bishop Property Investments Limited 31/03/2020 iXBRL
Bishop Property Investments Limited 31/03/2020 iXBRL
Company registration number:
04588113
Trading as
Bishops Property Investments Ltd
Unaudited filleted financial statements
BISHOP PROPERTY INVESTMENTS LIMITED
Contents
Statement of financial position
Notes to the financial statements
BISHOP PROPERTY INVESTMENTS LIMITED
STATEMENT OF FINANCIAL POSITION
31 MARCH 2020
2020 | 2019 | ||||||||
Note | £ | £ | £ | £ | |||||
Fixed assets | |||||||||
Intangible assets | 5 | - | - | ||||||
Tangible assets | 6 |
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_______ | _______ | ||||||||
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Current assets | |||||||||
Debtors | 7 |
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Cash at bank and in hand |
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_______ | _______ | ||||||||
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Creditors: amounts falling due | |||||||||
within one year | 8 |
(
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(
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_______ | _______ | ||||||||
Net current liabilities |
(
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(
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_______ | _______ | ||||||||
Total assets less current liabilities |
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Creditors: amounts falling due | |||||||||
after more than one year | 9 |
(
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(
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Provisions for liabilities |
(
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(
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_______ | _______ | ||||||||
Net assets |
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_______ | _______ | ||||||||
Capital and reserves | |||||||||
Called up share capital |
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Profit and loss account | 10 |
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_______ | _______ | ||||||||
Shareholders funds |
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_______ | _______ | ||||||||
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.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
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:
Director
Company registration number:
04588113
BISHOP PROPERTY INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2020
1.
General information
The company is a private company limited by shares, registered in England. The address of the registered office is Petitor House, Nicholson Road, Torquay, Devon, TQ2 7TD.
Principal activity
The principal activity of the company is that of property rental.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Judgements and key sources of estimation uncertainty
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill | - |
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|
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Investment properties | - |
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Fittings fixtures and equipment | - |
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If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Investment property
Impairment
Provisions
Financial instruments
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
1
(2019:
1
).
5.
Intangible assets
Goodwill | Total | ||
£ | £ | ||
Cost | |||
At 1 April 2019 and 31 March 2020 |
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|
_______ | _______ | ||
Amortisation | |||
At 1 April 2019 and 31 March 2020 |
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_______ | _______ | ||
Carrying amount | |||
At 31 March 2020 | - | - | |
_______ | _______ | ||
At 31 March 2019 | - | - | |
_______ | _______ | ||
6.
Tangible assets
Freehold property | Fixtures, fittings and equipment | Total | ||
£ | £ | £ | ||
Cost | ||||
At 1 April 2019 and 31 March 2020 |
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_______ | _______ | _______ | ||
Depreciation | ||||
At 1 April 2019 and 31 March 2020 | - |
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_______ | _______ | _______ | ||
Carrying amount | ||||
At 31 March 2020 |
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- |
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_______ | _______ | _______ | ||
At 31 March 2019 |
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- |
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_______ | _______ | _______ | ||
Investment property
Tangible assets held at valuation
In respect of tangible assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:
Freehold property | Total | ||
£ | £ | ||
At 31 March 2020 | |||
Aggregate cost | 642,413 | 642,413 | |
Aggregate depreciation | - | - | |
_______ | _______ | ||
Carrying amount |
|
642,413 | |
_______ | _______ | ||
At 31 March 2019 | |||
Aggregate cost | 642,413 | 642,413 | |
Aggregate depreciation | - | - | |
_______ | _______ | ||
Carrying amount |
|
642,413 | |
_______ | _______ | ||
7.
Debtors
2020 | 2019 | |||
£ | £ | |||
Other debtors |
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_______ | _______ | |||
8.
Creditors: amounts falling due within one year
2020 | 2019 | |||
£ | £ | |||
Bank loans and overdrafts |
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Accruals and deferred income |
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Social security and other taxes | 29,870 | 31,514 | ||
Other creditors | 263,909 | 307,365 | ||
_______ | _______ | |||
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_______ | _______ | |||
9.
Creditors: amounts falling due after more than one year
2020 | 2019 | |||
£ | £ | |||
Bank loans and overdrafts |
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_______ | _______ | |||
Included within creditors: amounts falling due after more than one year is an amount of £ 134,996
(2019 £ 139,433 ) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
Included in creditors due after more than 5 years are two mortgages. One of which is interest only and amounts to £98,113. The second mortgage is a repayment mortgage and the amount payable after 5 years amounts to £36,883.
10.
Reserves
11.
Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company: | |||||
Loans to / (from) directors at 1 April 2019 | Loans to / (from) the directors | Amounts repaid | Balance at 31 March 2020 | ||
£ | £ | £ | £ | ||
Director |
(
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(
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(
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_______ | _______ | _______ | _______ | ||
Loans to / (from) directors at 1 April 2018 | Loans to / (from) the directors | Amounts repaid | Balance at 31 March 2019 | ||
£ | £ | £ | £ | ||
Director |
(
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(
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(
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_______ | _______ | _______ | _______ | ||