| BHAL INVESTMENT PROPERTIES LTD |
| Registered number: |
08739200 |
| Balance Sheet |
| as at 31 October 2017 |
|
| Notes |
|
|
2017 |
|
|
2016 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
1,718,993 |
|
|
1,718,993 |
|
| Current assets |
| Cash at bank and in hand |
|
|
31,395 |
|
|
180,029 |
|
| Creditors: amounts falling due within one year |
4 |
|
(119,632) |
|
|
(102,027) |
|
| Net current (liabilities)/assets |
|
|
|
(88,237) |
|
|
78,002 |
|
| Total assets less current liabilities |
|
|
|
1,630,756 |
|
|
1,796,995 |
|
| Creditors: amounts falling due after more than one year |
5 |
|
|
(1,220,185) |
|
|
(1,433,520) |
|
|
|
| Net assets |
|
|
|
410,571 |
|
|
363,475 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
100 |
|
|
100 |
| Revaluation reserve |
7 |
|
|
311,360 |
|
|
311,360 |
| Profit and loss account |
|
|
|
99,111 |
|
|
52,015 |
|
| Shareholder's funds |
|
|
|
410,571 |
|
|
363,475 |
|
|
|
|
|
|
|
|
| The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The member has not required the company to obtain an audit in accordance with section 476 of the Act. |
| The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| Rajesh Kamal BHAL |
| Director |
| Approved by the board on 16 April 2018 |
|
| BHAL INVESTMENT PROPERTIES LTD |
| Notes to the Accounts |
| for the year ended 31 October 2017 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
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 letting of the properties and from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
| 2 |
Employees |
2017 |
|
2016 |
| Number |
Number |
|
|
Average number of persons employed by the company |
1 |
|
1 |
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Land and buildings |
| £ |
|
Cost |
|
At 1 November 2016 |
1,718,993 |
|
At 31 October 2017 |
1,718,993 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 31 October 2017 |
- |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 October 2017 |
1,718,993 |
|
At 31 October 2016 |
1,718,993 |
|
|
|
|
|
|
|
|
|
|
|
Freehold land and buildings: |
2017 |
|
2016 |
| £ |
£ |
|
Historical cost |
1,407,633 |
|
1,407,633 |
|
|
|
|
|
|
1,407,633 |
|
1,407,633 |
|
The director(s) considered that the market value of the property is not less than the value show in the above at the balance sheet date. If the property were to be sold at the value shown in the above there will be an additional tax liability of £59,159 at the rate of 19%. The appropriate tax rate is subject to variation. |
|
| 4 |
Creditors: amounts falling due within one year |
2017 |
|
2016 |
| £ |
£ |
|
|
Bank loans and overdrafts |
41,101 |
|
36,673 |
|
Taxation and social security costs |
15,394 |
|
10,185 |
|
Director's account |
48,077 |
|
39,898 |
|
Other creditors |
15,060 |
|
15,271 |
|
|
|
|
|
|
119,632 |
|
102,027 |
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due after one year |
2017 |
|
2016 |
| £ |
£ |
|
|
Bank loans |
517,765 |
|
531,100 |
|
Shareholders loan |
|
|
|
|
702,420 |
|
902,420 |
|
|
|
|
|
|
1,220,185 |
|
1,433,520 |
|
|
|
|
|
|
|
|
|
| 6 |
Loans |
2017 |
|
2016 |
| £ |
£ |
|
Creditors include: |
|
Instalments falling due for payment after more than five years |
352,965 |
|
425,775 |
|
|
|
|
|
|
|
|
|
|
|
Secured bank loans |
558,866 |
|
567,773 |
|
|
|
|
|
|
|
|
|
|
The bank loans are secured on first charge over the freehold land and buildings held by the company. |
|
| 7 |
Revaluation reserve |
2017 |
|
2016 |
| £ |
£ |
|
|
At 1 November 2016 |
311,360 |
|
311,360 |
|
|
At 31 October 2017 |
311,360 |
|
311,360 |
|
|
|
|
|
|
|
|
|
| 8 |
Controlling party |
|
|
The company was under the control of its director Mr Rajesh Kamal Bhal. |
|
| 9 |
Other information |
|
|
BHAL INVESTMENT PROPERTIES LTD is a private company limited by shares and incorporated in England. Its registered office is: |
|
65 Delamere Road |
|
Hayes |
|
UB4 0NN |
