Bollingmore (Properties) Limited - Accounts to registrar (filleted) - small 18.2

Bollingmore (Properties) Limited - Accounts to registrar (filleted) - small 18.2

BOLLINGMORE (PROPERTIES) LIMITED - Company Information

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BOLLINGMORE (PROPERTIES) LIMITED

Financial Statements

for the Year Ended 31 December 2020






BOLLINGMORE (PROPERTIES) LIMITED (REGISTERED NUMBER: 01262847)

Contents of the Financial Statements
for the year ended 31 December 2020










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


BOLLINGMORE (PROPERTIES) LIMITED

Company Information
for the year ended 31 December 2020







Directors: T E Bollingmore
J K Bollingmore





Secretary: T E Bollingmore





Registered office: New Derwent House
69-73 Theobalds Road
London
WC1X 8TA





Registered number: 01262847 (England and Wales)





Accountants: Haines Watts Chartered Accountants
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA
Page 1
BOLLINGMORE (PROPERTIES) LIMITED (REGISTERED NUMBER: 01262847)

Balance Sheet
31 December 2020

2020 2019
Notes £ £ £ £
Fixed assets
Investment property 4 2,395,000 2,000,000

Current assets
Debtors 5 11,599 -
Cash at bank 96,746 68,258
108,345 68,258
Creditors
Amounts falling due within one year 6 300,282 320,264
Net current liabilities (191,937 ) (252,006 )
Total assets less current liabilities 2,203,063 1,747,994

Provisions for liabilities 7 224,607 167,607
Net assets 1,978,456 1,580,387

Capital and reserves
Called up share capital 8 100 100
Retained earnings 9 1,978,356 1,580,287
Shareholders' funds 1,978,456 1,580,387

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 August 2021 and were signed on its behalf by:





T E Bollingmore - Director


The notes form part of these financial statements

Page 2
BOLLINGMORE (PROPERTIES) LIMITED (REGISTERED NUMBER: 01262847)

Notes to the Financial Statements
for the year ended 31 December 2020


1. Statutory information

Bollingmore (Properties) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover comprises revenue recognised by the company in respect of rental income receivable during the year, exclusive of Value Added Tax.

Investment property
Investment property is shown at fair value based on most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the income statement.

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts which are an integral part of the company's cash management.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

3. Employees and directors

The average number of employees during the year was NIL (2019 - NIL).

4. Investment property
Total
£
Fair value
At 1 January 2020 2,000,000
Revaluations 395,000
At 31 December 2020 2,395,000
Net book value
At 31 December 2020 2,395,000
At 31 December 2019 2,000,000

Page 3
BOLLINGMORE (PROPERTIES) LIMITED (REGISTERED NUMBER: 01262847)

Notes to the Financial Statements - continued
for the year ended 31 December 2020


4. Investment property - continued

Fair value at 31 December 2020 is represented by:
£
Valuation in 2008 1,001,073
Valuation in 2013 152,000
Valuation in 2020 395,000
Cost 846,927
2,395,000

The directors assessed the valuation of the investment property portfolio at the year-end and consider the current value represents an open market value on an existing use basis.

5. Debtors: amounts falling due within one year
2020 2019
£ £
Trade debtors 11,599 -

6. Creditors: amounts falling due within one year
2020 2019
£ £
Amounts owed to group undertakings 134,819 132,319
Taxation and social security 28,164 28,195
Other creditors 137,299 159,750
300,282 320,264

7. Provisions for liabilities
2020 2019
£ £
Deferred tax
Other timing differences 224,607 167,607

Deferred tax
£
Balance at 1 January 2020 167,607
Provided during year 57,000
Balance at 31 December 2020 224,607

The potential liability is based on a corporation tax rate of 19% (2020: 19%).

8. Called up share capital


Allotted, issued and fully paid:
Number: Class: Nominal 2020 2019
value: £ £
100 Ordinary £1 100 100

Page 4
BOLLINGMORE (PROPERTIES) LIMITED (REGISTERED NUMBER: 01262847)

Notes to the Financial Statements - continued
for the year ended 31 December 2020


9. Reserves
Retained
earnings
£

At 1 January 2020 1,580,287
Profit for the year 458,069
Dividends (60,000 )
At 31 December 2020 1,978,356

Included in the retained earnings, the amount of £1,323,466 (2019: £985,466) relates to the revaluation of investment property after making provision for deferred tax. This balance is not distributable until the properties are sold.

10. Related party disclosures

Included in creditors at the balance sheet date is £98,350 (2019: £116,999) due to the directors.

Page 5