B.N.T. Properties Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04464329 (England and Wales)

B.N.T. Properties Limited

Unaudited Financial Statements

for the Year Ended 31 March 2018

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M J Smith

Mrs J M T Smith

B J Smith

N J Smith

T E Smith

SECRETARY:

Mrs J M T Smith

REGISTERED OFFICE:

Sibson Mill

Wellsborough Road

Sibson

Nuneaton

Warwickshire

CV13 6LR

REGISTERED NUMBER:

04464329 (England and Wales)

ACCOUNTANTS:

Wychbury Greaves

Towers Point

Towers Business Park

Wheelhouse Road

Rugeley

Staffordshire

WS15 1UN

FIXED ASSETS

Tangible assets

4

3,371

4,530

Investments

5

100

100

Investment property

6

10,834,245

9,765,000

10,837,716

9,769,630

CURRENT ASSETS

Stocks

215,103

206,403

Debtors

169,687

1,119,563

Cash at bank

233,224

695,839

618,014

2,021,805

CREDITORS

Amounts falling due within one year

9,488,638

9,798,282

NET CURRENT LIABILITIES

(8,870,624

)

(7,776,477

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,967,092

1,993,153

CREDITORS

Amounts falling due after more than one year

7

(604,689

)

(604,621

)

PROVISIONS FOR LIABILITIES

(335,038

)

(340,111

)

NET ASSETS

1,027,365

1,048,421

CAPITAL AND RESERVES

Called up share capital

100

100

Revaluation reserve

9

(2,718,388

)

(2,718,388

)

Retained earnings

3,745,653

3,766,709

SHAREHOLDERS' FUNDS

1,027,365

1,048,421

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2018 in accordance with Section 444(2A) of the Companies Act 2006.

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 on 13 December 2018 and were signed on its behalf by:

T E Smith - Director

1.	STATUTORY INFORMATION

B.N.T. 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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,

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.

Plant and machinery etc

-

25% 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.

In accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) no depreciation

is provided in respect of freehold properties held as investments. This is a departure from the requirements of the

Companies Act 2006 which requires all properties to be depreciated. Such properties are held for investment and

not for consumption and the directors consider that to depreciate them would not give a true and fair view.

Depreciation is only one of the many elements reflected in the annual valuation of properties and accordingly the

amount of depreciation which might otherwise have been charged cannot be separately identified or quantified.

The directors consider that this policy results in the financial statements giving a true and fair view.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2017 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2017

and 31 March 2018

69,798

DEPRECIATION

At 1 April 2017

65,268

Charge for year

1,159

At 31 March 2018

66,427

NET BOOK VALUE

At 31 March 2018

3,371

At 31 March 2017

4,530

5.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 1 April 2017

and 31 March 2018

100

NET BOOK VALUE

At 31 March 2018

100

At 31 March 2017

100

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2017

9,765,000

Additions

1,069,245

At 31 March 2018

10,834,245

NET BOOK VALUE

At 31 March 2018

10,834,245

At 31 March 2017

9,765,000

Fair value at 31 March 2018 is represented by:

£

Valuation in 2009

2,454,655

Valuation in 2012

(850,000

)

Valuation in 2014

(705,767

)

Valuation in 2015

668,440

Cost

9,266,917

10,834,245

If investment property had not been revalued it would have been included at the following historical cost:

2018

2017

£

£

Cost

9,266,917

8,197,672

Investment property was valued on an open market basis on 31 March 2015 by Peter J Hicks BSc (EST Man) FRICS

.

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

2018

2017

£

£

Repayable by instalments

Other loans more 5yrs instal

604,689

604,621

8.	SECURED DEBTS

The loan from Sibson Mill Properties Ltd is secured by legal charges over Centurion Park, Amington and Sandy

Hill Business Park, Tamworth.

The Skipton Building Society loan of £604,621 is secured by a first legal charge over Sandy Hill Business Park,

Tamworth.

9.

RESERVES

Revaluation

reserve

£

At 1 April 2017

and 31 March 2018

(2,718,388

)

10.	RELATED PARTY DISCLOSURES

11.	ULTIMATE CONTROLLING PARTY