Registration number:
Bishop House Properties Limited
Unaudited Financial Statements
for the
Year Ended 31 March 2023
Bishop House Properties Limited
Contents
Company Information |
|
Balance Sheet |
|
Notes to the Financial Statements |
Bishop House Properties Limited
Company Information
Directors |
Mr N J Morrell Mr W A Williams |
Company secretary |
Mr W A Williams |
Registered office |
|
Bankers |
|
Accountants |
|
Bishop House Properties Limited
(Registration number: 04566370)
Balance Sheet
as at 31 March 2023
Note |
2023 |
2022 |
|
Fixed assets |
|||
Tangible assets |
|
|
|
Current assets |
|||
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current liabilities |
( |
( |
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
|
|
|
Fair value reserve |
|
|
|
Profit and loss account |
|
|
|
Total equity |
|
|
For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
|
• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
The profit and loss account and directors' report have not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small companies regime.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Bishop House Properties Limited
(Registration number: 04566370)
Balance Sheet
as at 31 March 2023
Approved and authorised by the
.........................................
Mr N J Morrell
Director
.........................................
Mr W A Williams
Company secretary and director
Bishop House Properties Limited
Notes to the Financial Statements
for the Year Ended 31 March 2023
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1.
Exemption from preparing group accounts
The company has taken advantage of the exemption in section 398 of the Companies Act 2006 from the requirement to prepare consolidated financial statements, on the grounds that it is a small sized group.
Revenue recognition
Turnover comprises the rent receivable from the company's investment properties.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Bishop House Properties Limited
Notes to the Financial Statements
for the Year Ended 31 March 2023
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Office equipment |
33% on cost |
Investment property
Investments
Investments in subsidiaries are stated at cost less provision for any permanent diminution in value.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Bishop House Properties Limited
Notes to the Financial Statements
for the Year Ended 31 March 2023
Tangible assets |
Investment properties |
Office equipment |
Total |
|
Cost or valuation |
|||
At 1 April 2022 |
|
|
|
At 31 March 2023 |
|
|
|
Depreciation |
|||
At 1 April 2022 |
- |
|
|
At 31 March 2023 |
- |
|
|
Carrying amount |
|||
At 31 March 2023 |
|
- |
|
At 31 March 2022 |
|
- |
|
Included within the net book value of land and buildings above is £786,798 (2022 - £786,798) in respect of freehold land and buildings.
Revaluation
The fair value of the company's investment properties was revalued on
The investment properties were valued by the directors using an open market valuation.
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £
Debtors |
2023 |
2022 |
|
Loan |
|
|
Prepayments |
|
|
|
|
|
Less non-current portion |
- |
( |
|
|
Details of non-current trade and other debtors
£Nil (2022 -£34,619) of the loan is classified as non current. This loan is repayable over five years.
Bishop House Properties Limited
Notes to the Financial Statements
for the Year Ended 31 March 2023
Creditors |
Creditors: amounts falling due within one year
2023 |
2022 |
|
Due within one year |
||
Other creditors |
|
|