BBHP Limited - Accounts to registrar (filleted) - small 18.2
BBHP Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Financial Statements |
| for the Year Ended 30 June 2020 |
| for |
| BBHP Limited |
| BBHP Limited (Registered number: 04904131) |
| Contents of the Financial Statements |
| for the Year Ended 30 June 2020 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| BBHP Limited |
| Company Information |
| for the Year Ended 30 June 2020 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| BUSINESS ADDRESS: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Statutory Auditors |
| Chartered Accountants |
| The Mills |
| Canal Street |
| Derby |
| DE1 2RJ |
| BBHP Limited (Registered number: 04904131) |
| Balance Sheet |
| 30 June 2020 |
| 2020 | 2019 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 10 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Fair value reserve | 11 |
| Retained earnings | 11 |
| In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| BBHP Limited (Registered number: 04904131) |
| Notes to the Financial Statements |
| for the Year Ended 30 June 2020 |
| 1. | STATUTORY INFORMATION |
| BBHP Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents rents receivable from investment properties and is recognised as it falls due, in accordance with the lease to which it relates. |
| Tangible fixed assets |
| Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. |
| Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using either a straight line or reducing balance method as indicated below. |
| Improvements to property | - 10% on straight line |
| Rental property furniture & fittings | - 20% on straight line |
| Motor vehicles | - 25% on reducing balance |
| Computer equipment | - 33.3% on straight line |
| The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. |
| Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss. |
| 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 comprises freehold and long leasehold buildings. They are measured initially at cost, including related transaction costs. These are held as investments to earn rental income and for capital appreciation and are stated at fair value at the balance sheet date. |
| The fair value of investment property reflects, among other things, rental income from from current leases and assumptions about rental income from future leases in light of current market conditions. |
| Subsequent expenditure is added to the assets carrying amount only when it is probable that future economic benefits associated with the item will flow to the company and the cost of the item can be measured reliably. All other repairs and maintenance costs are charged to the profit and loss account during the financial period in which they are incurred. |
| Any movement in the fair value of the properties is reflected within the profit and loss account for the year. |
| BBHP Limited (Registered number: 04904131) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 June 2020 |
| 2. | ACCOUNTING POLICIES - continued |
| 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 |
| 4. | TANGIBLE FIXED ASSETS |
| Improvements |
| to | Computer |
| property | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 July 2019 |
| and 30 June 2020 |
| DEPRECIATION |
| At 1 July 2019 |
| Charge for year |
| At 30 June 2020 |
| NET BOOK VALUE |
| At 30 June 2020 |
| At 30 June 2019 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 July 2019 |
| Additions |
| Disposals | ( |
) |
| At 30 June 2020 |
| NET BOOK VALUE |
| At 30 June 2020 |
| At 30 June 2019 |
| BBHP Limited (Registered number: 04904131) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 June 2020 |
| 5. | INVESTMENT PROPERTY - continued |
| Fair value at 30 June 2020 is represented by: |
| £ |
| Valuation in 2020 | 19,797,106 |
| If investment property had not been revalued it would have been included at the following historical cost: |
| 2020 | 2019 |
| £ | £ |
| Cost | 12,902,911 | 12,599,599 |
| Aggregate depreciation | (3,163,239 | ) | (2,905,181 | ) |
| Investment property was valued on fair value basis on 30 June 2020 by the directors . |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Trade debtors |
| Amounts owed by participating interests | 2,243 | 1,426 |
| Other debtors |
| Owed by related parties | 607,006 | 633,093 |
| Directors' current accounts | - | 46,833 |
| Prepayments and accrued income |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Amounts owed to group undertakings |
| Tax |
| Social security and other taxes |
| Other creditors |
| Owed to related parties | - | 660,718 |
| Directors' current accounts | 190,613 | - |
| Accruals and deferred income |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Bank loans |
| Interest only loans | 2,567,681 | 2,343,788 |
| BBHP Limited (Registered number: 04904131) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 June 2020 |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
| 2020 | 2019 |
| £ | £ |
| Amounts falling due in more than five years: |
| Repayable otherwise than by instalments |
| Interest only loans |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2020 | 2019 |
| £ | £ |
| Bank loans |
| The bank loans are secured over the respective investment properties to which the loans relate. |
| 10. | PROVISIONS FOR LIABILITIES |
| 2020 | 2019 |
| £ | £ |
| Deferred tax | 564,791 | 725,632 |
| Deferred |
| tax |
| £ |
| Balance at 1 July 2019 |
| Credit to Profit and Loss Account during year | ( |
) |
| Balance at 30 June 2020 |
| 11. | RESERVES |
| Fair |
| Retained | value |
| earnings | reserve | Totals |
| £ | £ | £ |
| At 1 July 2019 | 9,731,521 |
| Profit for the year |
| Transfer of deferred tax movement |
(44,847 |
) |
44,847 |
- |
| At 30 June 2020 | 10,390,480 |
| 12. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| BBHP Limited (Registered number: 04904131) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 June 2020 |
| 13. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to directors subsisted during the years ended 30 June 2020 and 30 June 2019: |
| 2020 | 2019 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year | ( |
) |
| Balance outstanding at start of year | ( |
) |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year | ( |
) |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year | ( |
) |
| 14. | RELATED PARTY DISCLOSURES |
| The company has net loans receivable from entities under common ownership and control. The amount outstanding at the reporting date is £518,553 (2019: £119,385 payable). The loans are interest free and repayable on demand. |
| 15. | ULTIMATE CONTROLLING PARTY |
| The controlling party is No. 71 Limited. |