Boultbee Finance (Shelf 1) Limited Company accounts

Boultbee Finance (Shelf 1) Limited Company accounts

BOULTBEE FINANCE (SHELF 1) LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 09395550
Boultbee Finance (Shelf 1) Limited
Unaudited Financial Statements
31 December 2021
Boultbee Finance (Shelf 1) Limited
Financial Statements
Year ended 31st December 2021
Contents
Page
Directors' report
1
Statement of comprehensive income
2
Statement of financial position
3
Statement of changes in equity
4
Notes to the financial statements
5
Boultbee Finance (Shelf 1) Limited
Directors' Report
Year ended 31st December 2021
The directors present their report and the unaudited financial statements of the company for the year ended 31 December 2021 .
Principal activities
The principal activity of the company during the year was an intermediate parent company holding investments in entities engaged in real estate investment.
Directors
The directors who served the company during the year were as follows:
L. Roberts
C.E. Boultbee Brooks
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 13 September 2022 and signed on behalf of the board by:
L. Roberts
Director
Registered office:
Broadway House
32-35 Broad Street
Hereford
HR4 9AR
Boultbee Finance (Shelf 1) Limited
Statement of Comprehensive Income
Year ended 31st December 2021
2021
2020
Note
£
£
Other operating expenses
–
42,015
----
--------
Operating loss
–
( 42,015)
Income from shares in group undertakings
587
( 630)
----
--------
Profit/(loss) before taxation
4
587
( 42,645)
Tax on profit/(loss)
–
–
----
--------
Profit/(loss) for the financial year and total comprehensive income
587
( 42,645)
----
--------
All the activities of the company are from continuing operations.
Boultbee Finance (Shelf 1) Limited
Statement of Financial Position
31 December 2021
2021
2020
Note
£
£
Fixed assets
Investments
5
21,377
20,790
Current assets
Debtors
6
2,376,357
2,376,357
Cash at bank and in hand
39,516
18,071
------------
------------
2,415,873
2,394,428
Creditors: amounts falling due within one year
7
63,597
42,152
------------
------------
Net current assets
2,352,276
2,352,276
------------
------------
Total assets less current liabilities
2,373,653
2,373,066
------------
------------
Capital and reserves
Called up share capital
100
100
Profit and loss account
2,373,553
2,372,966
------------
------------
Shareholders funds
2,373,653
2,373,066
------------
------------
These financial statements have been prepared 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'.
For the year ending 31st December 2021 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 .
These financial statements were approved by the board of directors and authorised for issue on 13 September 2022 , and are signed on behalf of the board by:
L. Roberts
Director
Company registration number: 09395550
Boultbee Finance (Shelf 1) Limited
Statement of Changes in Equity
Year ended 31st December 2021
Called up share capital
Profit and loss account
Total
£
£
£
At 1st January 2020
100
2,415,611
2,415,711
Loss for the year
( 42,645)
( 42,645)
----
------------
------------
Total comprehensive income for the year
–
( 42,645)
( 42,645)
At 31st December 2020
100
2,372,966
2,373,066
Profit for the year
587
587
----
------------
------------
Total comprehensive income for the year
–
587
587
----
------------
------------
At 31st December 2021
100
2,373,553
2,373,653
----
------------
------------
Boultbee Finance (Shelf 1) Limited
Notes to the Financial Statements
Year ended 31st December 2021
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Broadway House, 32-35 Broad Street, Hereford, HR4 9AR.
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.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Investments
Investments are measured at fair value with changes in fair value being recognised in profit or loss.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. Profit before taxation
Profit before taxation is stated after charging/crediting:
2021
2020
£
£
Fair value adjustments to shares in group undertakings
(587)
850,630
----
---------
5. Investments
Shares in group undertakings
£
Cost
At 1st January 2021
20,790
Revaluations
587
--------
At 31st December 2021
21,377
--------
Impairment
At 1st January 2021 and 31st December 2021
–
--------
Carrying amount
At 31st December 2021
21,377
--------
At 31st December 2020
20,790
--------
Investments held at valuation
Investments in group undertakings and associated companies are stated at fair value as determined by the directors. One director is a Chartered Accountant, the other a member of the Royal Institute of Chartered Surveyors.
In respect of investments 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:
Shares in group undertakings
Shares in participating interests
Total
£
£
£
At 31st December 2021
Aggregate cost
2,392
5,918
8,310
Aggregate depreciation
–
–
–
-------
-------
-------
Carrying value
2,392
5,918
8,310
-------
-------
-------
At 31st December 2020
Aggregate cost
2,392
5,918
8,310
Aggregate depreciation
–
–
–
-------
-------
-------
Carrying value
2,392
5,918
8,310
-------
-------
-------
6. Debtors
2021
2020
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
2,376,357
2,376,357
------------
------------
7. Creditors: amounts falling due within one year
2021
2020
£
£
Other creditors
63,597
42,152
--------
--------
8. Financial instruments
Financial assets and liabilities are accounted for on an amortised cost basis. Amounts due from group undertakings are repayable on demand.
9. Controlling party
The intermediate parent company was Boultbee Developments (NO.2) Limited and the ultimate parent company was Boultbee Estates (NO.2) Limited. Their address is;Broadway House, 32-35 Broad Street, Hereford, HR4 9AR.