REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BALMCREST ESTATES MANAGEMENT |
LIMITED |
|
FINANCIAL STATEMENTS |
|
FOR THE YEAR ENDED 31 DECEMBER 2021 |
|
|
|
|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BALMCREST ESTATES MANAGEMENT |
LIMITED |
|
FINANCIAL STATEMENTS |
|
FOR THE YEAR ENDED 31 DECEMBER 2021 |
|
|
|
|
|
BALMCREST ESTATES MANAGEMENT |
LIMITED (REGISTERED NUMBER: 04818628) |
|
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
|
|
|
|
|
|
|
|
|
|
Page |
|
Company Information | 1 |
|
Statement of Financial Position | 2 |
|
Notes to the Financial Statements | 3 | to | 5 |
|
BALMCREST ESTATES MANAGEMENT |
LIMITED |
|
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
|
|
|
|
|
|
|
DIRECTORS: |
|
|
|
|
SECRETARY: |
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
SENIOR STATUTORY AUDITOR: |
|
|
|
AUDITORS: |
|
Chartered Accountants and Statutory Auditor |
3 New Mill Court |
Swansea Enterprise Park |
Swansea |
SA7 9FG |
|
|
BANKERS: |
|
Link ASI Limited |
BALMCREST ESTATES MANAGEMENT |
LIMITED (REGISTERED NUMBER: 04818628) |
|
STATEMENT OF FINANCIAL POSITION |
31 DECEMBER 2021 |
|
2021 | 2020 |
Notes | £ | £ |
CURRENT ASSETS |
Cash at bank |
|
|
|
CREDITORS |
Amounts falling due within one year | 4 |
|
|
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
) |
( |
) |
|
CAPITAL AND RESERVES |
Called up share capital |
|
|
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
|
|
|
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
|
|
|
|
|
|
|
|
BALMCREST ESTATES MANAGEMENT |
LIMITED (REGISTERED NUMBER: 04818628) |
|
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
|
|
1. | STATUTORY INFORMATION |
|
Balmcrest Estates Management Limited is a private company, limited by shares, registered in England and Wales. The company's registered number, registered office and principal place of business address can be found on the Company Information page. |
|
2. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
The presentation currency of the financial statements is the Pound Sterling (£). |
|
Monetary amounts in these financial statements are rounded to the nearest £. |
|
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
|
Critical accounting judgements and key sources of estimation uncertainty |
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
|
Financial instruments |
Basic financial assets, which include other debtors and cash and bank balances, are initially measured at transaction price unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. |
|
Basic financial liabilities, including other creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. |
|
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 |
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 statement of financial position date. |
|
BALMCREST ESTATES MANAGEMENT |
LIMITED (REGISTERED NUMBER: 04818628) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
|
|
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
|
Going concern |
In preparing the financial statements, the directors have considered the current financial position of the company and its likely future cashflows. |
|
The company has recorded a loss in the year and has both net current liabilities and net liabilities at the statement of financial position date. The company ceased investment in property during a prior period following the sale of its investment property. Therefore the continuation of the company is dependent on the continuing support of its related parties. |
|
The directors have assessed the risks facing the business from the current economic uncertainty |
and implemented measures to address these risks. |
|
After making enquiries and considering the uncertainties described above, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements. |
|
The financial statements do not include any adjustments that would result if the company was unable to continue as a going concern. |
|
3. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was NIL (2020 - NIL). |
|
4. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans and overdrafts |
|
|
Accruals and deferred income |
|
|
|
|
|
5. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
|
The Report of the Auditors was unqualified. |
|
|
for and on behalf of
|
BALMCREST ESTATES MANAGEMENT |
LIMITED (REGISTERED NUMBER: 04818628) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
|
|
6. | ULTIMATE CONTROLLING PARTY |
|
Balmcrest Estates Management Limited is a 100% subsidiary of Balmcrest Homes Limited. There is no single ultimate controlling party. |