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Unaudited Financial Statements |
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for the Year Ended 30 November 2019 |
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for |
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BLM Estates Limited |
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Unaudited Financial Statements |
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for the Year Ended 30 November 2019 |
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for |
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BLM Estates Limited |
BLM Estates Limited (Registered number: 05985973) |
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Contents of the Financial Statements |
for the Year Ended 30 November 2019 |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 4 |
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BLM Estates Limited |
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Company Information |
for the Year Ended 30 November 2019 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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BLM Estates Limited (Registered number: 05985973) |
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Statement of Financial Position |
30 November 2019 |
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2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than
one year |
8 |
( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Other reserves |
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Retained earnings | 62,367 | 16,958 |
SHAREHOLDERS' FUNDS |
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The director acknowledges his 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. |
BLM Estates Limited (Registered number: 05985973) |
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Statement of Financial Position - continued |
30 November 2019 |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the director and authorised for issue on
signed by: |
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BLM Estates Limited (Registered number: 05985973) |
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Notes to the Financial Statements |
for the Year Ended 30 November 2019 |
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1. | STATUTORY INFORMATION |
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BLM Estates Limited is a
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company's registered number and registered office address can be found on the Company |
Information page. |
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2. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
The financial statements cover the company as an individual entity, have been prepared under the |
historical cost convention and are presented in Pounds Sterling (£) being the functional currency. |
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The financial statements have been prepared on the assumption that the company is able to carry |
on business as a going concern, which the director considers appropriate having regard to the |
company's current and expected performance. |
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Turnover |
Turnover represents rental income receivable in the year. |
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Investment property |
Investment properties are revalued annually to open market value. Surpluses or deficits on |
individual properties are transferred to the investment revaluation reserve, except that a deficit |
which is expected to be permanent and which is in excess of any previously recognised surplus over |
cost relating to the same property, or the reversal of such a deficit, is charged (or credited) to the |
profit and loss account. |
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Depreciation is not provided in respect of freehold investment properties. The director considers |
that this accounting policy, which represents a departure from the statutory accounting rules is |
necessary to provide a true and fair view as required under SSAP 19 Accounting for investment |
properties. The financial effect of the departure from the statutory accounting rules is shown in the |
notes to the financial statements. |
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Financial instruments |
Basic financial instruments are recognised at amortised cost, except for investments in |
non-convertible preference and non-puttable ordinary shares which are measured at fair value, with |
changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost |
and thereafter at fair value with changes recognised in profit or loss. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of |
Income and Retained Earnings, except to the extent that it relates to items recognised in other |
comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
BLM Estates Limited (Registered number: 05985973) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 November 2019 |
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4. | EMPLOYEES |
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The average number of employees during the year was NIL (2018 - NIL). |
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5. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
At 1 December 2018 |
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Additions |
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Revaluations | 194,226 |
At 30 November 2019 |
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NET BOOK VALUE |
At 30 November 2019 |
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At 30 November 2018 |
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Fair value at 30 November 2019 is represented by: |
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£ |
Valuation in 2018 | 94,839 |
Valuation in 2019 | 194,226 |
Cost | 2,498,074 |
2,787,139 |
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If the investment property had not been revalued it would have been included at the following |
historical cost: |
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2019 | 2018 |
£ | £ |
Cost | 2,498,074 | 1,770,935 |
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Investment property was valued on an open market basis basis on 30 November 2019 by the director |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Other debtors |
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BLM Estates Limited (Registered number: 05985973) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 November 2019 |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Bank loans and overdrafts |
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Taxation and social security |
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Other creditors |
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8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2019 | 2018 |
£ | £ |
Bank loans |
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9. | POST BALANCE SHEET EVENTS - CORONAVIRUS OUTBREAK |
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In March 2020 the UK was impacted by the outbreak of the Coronavirus. In order to manage the |
spread of the virus the Government has imposed significant restrictions on the movement of people |
and the ability of businesses to continue to trade. For the reasons outlined below the directors do |
not consider that there has been a material impact on the results of the company for the year |
ended 30 November 2019 as a result of the restrictions placed on UK businesses. |
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Since the year end we have been significantly impacted by the restrictions on the movement of |
people implemented by the Government as a result of the coronavirus outbreak. |
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These restrictions have not effected the company's ability to trade and the director is confident |
that the company is still viable. |