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Unaudited Financial Statements |
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for the Year Ended 30 November 2020 |
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for |
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BLM Estates Limited |
REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 30 November 2020 |
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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 2020 |
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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 2020 |
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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 2020 |
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2020 | 2019 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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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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( |
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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 |
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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 2020 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director and authorised for issue on
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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 2020 |
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1. | STATUTORY INFORMATION |
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BLM Estates Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
These financial statements have been prepared in accordance with Financial Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' including the provisions of Section 1A ''Small Entities'' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
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The financial statements cover the company as an individual entity and are presented in Pounds Sterling (£) being the functional currency. |
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The financial statements have been prepared on a going concern basis on the assumption that the company has adequate resources to continue in operational existence for the foreseeable future. The directors have made this assessment with regard to the company’s current and expected performance. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, after discounts, returns and rebates, excluding value added tax and other sales taxes. |
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Property rental |
Turnover represents rental income receivable in the year. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses. |
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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 assets and liabilities are initially measured at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future cash flows discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
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Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss. |
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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 2020 |
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2. | ACCOUNTING POLICIES - continued |
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. |
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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. |
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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. |
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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. |
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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. |
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3. | EMPLOYEES |
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The average number of employees during the year was NIL (2019 - NIL). |
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4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
Additions |
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At 30 November 2020 |
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DEPRECIATION |
Charge for year |
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At 30 November 2020 |
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NET BOOK VALUE |
At 30 November 2020 |
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5. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
At 1 December 2019 |
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Disposals | ( |
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Revaluations | 287,861 |
At 30 November 2020 |
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NET BOOK VALUE |
At 30 November 2020 |
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At 30 November 2019 |
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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 2020 |
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5. | INVESTMENT PROPERTY - continued |
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Fair value at 30 November 2020 is represented by: |
£ |
Valuation in 2018 | 94,839 |
Valuation in 2019 | 194,226 |
Valuation in 2020 | 267,945 |
Cost | 2,362,990 |
2,920,000 |
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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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2020 | 2019 |
£ | £ |
Cost | 2,362,990 | 2,498,074 |
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Investment property was valued on an open market basis basis on 30 November 2020 by the director . |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
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 |
2020 | 2019 |
£ | £ |
Bank loans |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans more 5 yr by instal | 542,631 | - |
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9. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2020 | 2019 |
£ | £ |
Bank loans |
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The loans are secured against the properties they relate to. |