Black Type Investments Limited
Black Type Investments Limited
Registered number: 06560817
Unaudited Financial Statements
For The Year Ended
30 April 2022
Brooks & Partners Accountants Ltd
Black Type Investments Limited
Unaudited Financial Statements
For The Year Ended
30 April 2022
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Statement of Financial Position | 1—2 |
| Notes to the Financial Statements | 3—7 |
Black Type Investments Limited
Statement of Financial Position
As at
30 April 2022
Statement of Financial Position
Registered number:
06560817
For the year ending 30 April 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
| 2022 | 2021 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 3 |
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| CURRENT ASSETS | |||||
| Debtors | 4 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 5 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year | 6 |
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| PROVISIONS FOR LIABILITIES | |||||
| Deferred Taxation | 8 |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 9 |
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| Other reserves |
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| Income Statement |
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| SHAREHOLDERS' FUNDS | 409,673 | 369,811 | |||
Black Type Investments Limited
Statement of Financial Position (continued)
As at
30 April 2022
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
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Director
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The notes on pages 3 to 7 form part of these financial statements.
Black Type Investments Limited
Notes to the Financial Statements
For The Year Ended
30 April 2022
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from joint ventures, rental of property and from the rendering of services. Turnover is reduced for customer rebates and other similar allowances.
Joint venture income
Income is recognised when allocation of revenue has been paid.
Rental of Property
Income is recognised based on the period of occupation.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
1.3.
Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the income statement.
Black Type Investments Limited
Notes to the Financial Statements (continued)
For The Year Ended
30 April 2022
1.4.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.
Average Number of Employees
Average number of employees, including directors, during the year was as follows: NIL (2021: NIL)
3.
Tangible Assets
| Investment Properties | |
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| £ | |
| Cost | |
| As at
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| As at
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| Net Book Value | |
| As at
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| As at
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Black Type Investments Limited
Notes to the Financial Statements (continued)
For The Year Ended
30 April 2022
The analysis of the cost or valuation of the above assets is as follows:
| Investment Properties | |
|---|---|
| £ | |
| As at
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| At cost | 320,931 |
| At valuation | 775,000 |
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| As at
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| At cost | 320,931 |
| At valuation | 775,000 |
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4.
Debtors
| 2022 | 2021 | ||
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| £ | £ | ||
| Due within one year | |||
| Prepayments and accrued income |
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| Other debtors |
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| Amounts owed by other participating interests | 18,100 | 14,100 | |
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5.
Creditors: Amounts Falling Due Within One Year
| 2022 | 2021 | ||
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| £ | £ | ||
| Bank loans and overdrafts |
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| Corporation tax |
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| Other creditors |
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| Accruals and deferred income |
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| Director's loan account |
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| Amounts owed to other participating interests | 101,854 | 101,854 | |
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Black Type Investments Limited
Notes to the Financial Statements (continued)
For The Year Ended
30 April 2022
6.
Creditors: Amounts Falling Due After More Than One Year
| 2022 | 2021 | ||
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| £ | £ | ||
| Bank loans |
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Of the creditors falling due within and after more than one year the following amounts are due after more than five years.
| 2022 | 2021 | ||
|---|---|---|---|
| £ | £ | ||
| Bank loans and overdrafts | 600,156 | 609,463 |
7.
Secured Creditors
Of the creditors falling due within and after more than one year the following amounts are secured.
| 2022 | 2021 | ||
|---|---|---|---|
| £ | £ | ||
| Bank loans and overdrafts | 641,051 | 648,888 |
8.
Deferred Taxation
The provision for deferred taxation is made up of tax on revaluation of investment properties.
| 2022 | 2021 | ||
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| £ | £ | ||
| Deferred tax |
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10.
Dividends
| 2022 | 2021 | ||
|---|---|---|---|
| £ | £ | ||
| On equity shares: | |||
| Interim dividend paid |
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| 2,000 | 2,000 | ||
Black Type Investments Limited
Notes to the Financial Statements (continued)
For The Year Ended
30 April 2022
11.
Related Party Transactions
At the year end the company owed £59,167 (2021: £59,167) to related parties.
These loans are unsecured, interest free and repayable on demand.
At the year end the company owed £42,687 (2021: £42,687) to a company under common control.
This loan is unsecured, interest free and repayable on demand.
At the year end the company was owed £18,100 (2021: £14,100) from a company under common control.
This loan is unsecured, interest free and repayable on demand.
12.
General Information
Black Type Investments Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
06560817
. The registered office is 22 St. Peter's Street, Stamford, Lincolnshire, PE9 2PF.