Black Country Developments Limited - Accounts to registrar (filleted) - small 23.1.2

BLACK COUNTRY DEVELOPMENTS LIMITED - Company Information

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REGISTERED NUMBER: 02746645

AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022

FOR

BLACK COUNTRY DEVELOPMENTS LIMITED

Page

Company Information

Balance Sheet

Notes to the Financial Statements

DIRECTORS:

S Bindra

Mrs B K Bindra

REGISTERED OFFICE:

Harpal House

14 Holyhead Road

Handsworth

Birmingham

West Midlands

B21 0LT

REGISTERED NUMBER:

02746645

AUDITORS:

Thapers Limited

Chartered Accountants

Harpal House

14 Holyhead Road

Handsworth

Birmingham

West Midlands

B21 0LT

FIXED ASSETS

Tangible assets

80,260

62,618

Investment property

3,479,850

3,560,110

3,542,468

CURRENT ASSETS

Debtors

165,341

82,623

Cash at bank and in hand

116,164

61,182

281,505

143,805

CREDITORS

Amounts falling due within one year

426,253

336,550

NET CURRENT LIABILITIES

(144,748

)

(192,745

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

3,415,362

3,349,723

CREDITORS

Amounts falling due after more than one
year

(2,489,045

)

(2,442,556

)

PROVISIONS FOR LIABILITIES

(1,572

)

(1,485

)

NET ASSETS

924,745

905,682

CAPITAL AND RESERVES

Called up share capital

999

Retained earnings

923,746

904,683

SHAREHOLDERS' FUNDS

924,745

905,682

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 12 September 2023 and were signed on its behalf by:

S Bindra - Director

1.	STATUTORY INFORMATION

Black Country Developments Limited is a private company, limited by shares , registered in Not specified/Other. 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

10% on reducing balance

Computer equipment

20% on reducing balance

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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

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 NIL (2021 - NIL).

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

and

Computer

property

fittings

equipment

Totals

COST

At 1 October 2021

47,720

34,848

419

82,987

Additions

18,548

749

19,297

At 30 September 2022

66,268

34,848

1,168

102,284

DEPRECIATION

At 1 October 2021

20,101

268

20,369

Charge for year

1,475

180

1,655

At 30 September 2022

21,576

448

22,024

NET BOOK VALUE

At 30 September 2022

66,268

13,272

720

80,260

At 30 September 2021

47,720

14,747

151

62,618

5.	INVESTMENT PROPERTY

Total

FAIR VALUE

At 1 October 2021

and 30 September 2022

3,479,850

NET BOOK VALUE

At 30 September 2022

3,479,850

At 30 September 2021

3,479,850

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/9/22

30/9/21

Trade debtors

63,629

59,179

Other debtors

92,493

11,070

Prepayments

9,219

12,374

165,341

82,623

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/9/22

30/9/21

Bank loans and overdrafts (see note 9)

196,730

173,667

Trade creditors

78,260

31,932

Tax

37,924

35,078

Deferred Income

56,021

Tenant deposits

1,406

Company Credit Card

20,462

992

Directors' current accounts

13,742

13,741

Accrued expenses

23,114

23,713

426,253

336,550

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

30/9/22

30/9/21

Bank loans (see note 9)

2,489,045

2,442,556

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

1,409,394

1,628,219

Other Loan

150,000

1,559,394

1,628,219

LOANS

An analysis of the maturity of loans is given below:

30/9/22

30/9/21

Amounts falling due within one year or on demand:

Bank loans

196,730

173,667

Amounts falling due between one and two years:

Bank loans - 1-2 years

371,860

325,735

Amounts falling due between two and five years:

Bank loans - 2-5 years

557,791

488,602

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

1,409,394

1,628,219

Other Loan

150,000

1,559,394

1,628,219

10.	PROVISIONS FOR LIABILITIES

30/9/22

30/9/21

Deferred tax

Accelerated capital allowances

1,572

1,485

Deferred

tax

Balance at 1 October 2021

1,485

Provided during year

Balance at 30 September 2022

1,572

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30/9/22

30/9/21

value:

999

Ordinary

£1

999

12.

RESERVES

Retained

earnings

At 1 October 2021

904,683

Profit for the year

19,063

At 30 September 2022

923,746

13.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Andeep Kumar Mangal (Senior Statutory Auditor)

for and on behalf of Thapers Limited

14.	RELATED PARTY DISCLOSURES

During the year Black Country Developments Limited entered into transactions with companies/ entities in which Mr S Bindra has beneficial interest. The transactions for and amounts outstanding at the year end 30th September 2022 were :

30/09/2022

30/09/2021

Other Debtors

Due from Related companies

92,493

11,070