Balkerne Gate Properties Limited - Accounts to registrar (filleted) - small 23.2.5

Balkerne Gate Properties Limited - Accounts to registrar (filleted) - small 23.2.5

BALKERNE GATE PROPERTIES LIMITED - Company Information

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REGISTERED NUMBER: 13287022 (England and Wales)















BALKERNE GATE PROPERTIES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MARCH 2023






BALKERNE GATE PROPERTIES LIMITED (REGISTERED NUMBER: 13287022)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


BALKERNE GATE PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Mr D Syrett
Mr J Runicles





REGISTERED OFFICE: Town Wall House
Balkerne Hill
Colchester
Essex
CO3 3AD





REGISTERED NUMBER: 13287022 (England and Wales)
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BALKERNE GATE PROPERTIES LIMITED (REGISTERED NUMBER: 13287022)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 - 457,421
Investment property 5 2,050,000 1,200,000
2,050,000 1,657,421

CURRENT ASSETS
Debtors 6 2,630 1,550
Cash at bank 201,621 54,386
204,251 55,936
CREDITORS
Amounts falling due within one year 7 (1,434,541 ) (1,236,726 )
NET CURRENT LIABILITIES (1,230,290 ) (1,180,790 )
TOTAL ASSETS LESS CURRENT LIABILITIES 819,710 476,631

CREDITORS
Amounts falling due after more than one
year
8
(500,000
)
-

PROVISIONS FOR LIABILITIES (60,460 ) (84,932 )
NET ASSETS 259,250 391,699

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 9 257,750 362,081
Retained earnings 1,400 29,518
259,250 391,699

The notes form part of these financial statements

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BALKERNE GATE PROPERTIES LIMITED (REGISTERED NUMBER: 13287022)

BALANCE SHEET - continued
31 MARCH 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 25 November 2023 and were signed on its behalf by:




Mr D Syrett - Director



Mr J Runicles - Director


The notes form part of these financial statements

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BALKERNE GATE PROPERTIES LIMITED (REGISTERED NUMBER: 13287022)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

Balkerne Gate 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.

For the purposes of presentation the financial statements are rounded to the nearest pound sterling (£).

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates 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.
Assets Under Construction - Not depreciated

Investment property
Investment properties are shown on the Balance Sheet at their open market value. The surplus or deficit arising from the annual revaluation is transferred to the fair value reserve unless a deficit, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the income statement for the year.

Financial instruments
Basic financial instruments are recognised at amortised cost.

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.


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BALKERNE GATE PROPERTIES LIMITED (REGISTERED NUMBER: 13287022)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


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 3 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Assets
Under
Construction
£   
COST
At 1 April 2022 457,421
Additions 521,382
Reclassification/transfer (978,803 )
At 31 March 2023 -
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 457,421

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BALKERNE GATE PROPERTIES LIMITED (REGISTERED NUMBER: 13287022)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 1,200,000
Revaluations (128,803 )
Reclassification/transfer 978,803
At 31 March 2023 2,050,000
NET BOOK VALUE
At 31 March 2023 2,050,000
At 31 March 2022 1,200,000

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2022 447,013
Valuation in 2023 (128,803 )
Cost 1,731,790
2,050,000

The investment properties were valued by the directors at open market value at the Balance Sheet date.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 2,630 1,550

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 501,093 173,289
Amounts owed to related undertakings 877,961 1,055,000
Taxation and social security 15,574 6,924
Other creditors 39,913 1,513
1,434,541 1,236,726

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 500,000 -

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BALKERNE GATE PROPERTIES LIMITED (REGISTERED NUMBER: 13287022)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2023 2022
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 350,467 -

9. RESERVES

Fair
value
reserve
£
At 1 April 2022362,081
Fair value adjustment on revaluation(128,803)
Deferred tax on revaluation24,472

At 31 March 2023257,750

10. RELATED PARTY DISCLOSURES

At the Balance Sheet date the company was owed £877,961 (2022: £1,055,000) from companies under common control and this is included in creditors. The balances outstanding are interest free and repayable on demand.

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