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Financial Statements for the Year Ended 31 March 2022 |
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BB Property Ventures Limited |
REGISTERED NUMBER:
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Financial Statements for the Year Ended 31 March 2022 |
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for |
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BB Property Ventures Limited |
BB Property Ventures Limited (Registered number: 06661845) |
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Contents of the Financial Statements |
for the Year Ended 31 March 2022 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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BB Property Ventures Limited |
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Company Information |
for the Year Ended 31 March 2022 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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BANKERS: |
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Portsmouth Commercial Office |
1st Floor, Bay House |
North Harbour Business Park |
Portsmouth |
Hampshire |
PO6 4RS |
BB Property Ventures Limited (Registered number: 06661845) |
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Balance Sheet |
31 March 2022 |
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31.3.22 | 31.3.21 |
Notes | £ | £ |
CURRENT ASSETS |
Stocks and work in progress | 4 |
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Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered. |
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The accounts were approved by the Board of Directors and authorised for issue on
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BB Property Ventures Limited (Registered number: 06661845) |
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Notes to the Financial Statements |
for the Year Ended 31 March 2022 |
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1. | STATUTORY INFORMATION |
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BB Property Ventures Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Stocks |
Stocks and work in progress are stated at the lower of cost and net realisable value. Cost comprises land purchases, building costs and directly attributable overheads. Net realisable value is based on estimated selling price less further costs expected to be incurred to completion and disposal. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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 balance sheet date. |
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Deferred taxation |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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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Debtors |
Short term debtors are measured at the transaction price, less any impairment. |
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Creditors |
Short term creditors are measured at the transaction price. |
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Cash and cash equivalents |
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on demand. |
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Financial instruments |
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. |
BB Property Ventures Limited (Registered number: 06661845) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2022 |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2021 - NIL). |
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4. | STOCKS AND WORK IN PROGRESS |
31.3.22 | 31.3.21 |
£ | £ |
Stocks and work in progress |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.22 | 31.3.21 |
£ | £ |
Amounts owed by group undertakings |
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Other debtors |
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Tax |
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VAT |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.22 | 31.3.21 |
£ | £ |
Trade creditors |
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Amounts owed to group undertakings |
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Amounts owed to participating interests |
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Accruals and deferred income |
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7. | POST BALANCE SHEET EVENTS |
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There have been no other events since the balance sheet date that materially affect the state of affairs of the company as at 31 March 2022 or that requires disclosure. |
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8. | CONTROLLING PARTY |
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The company is jointly owned by Metis Homes Limited and Bargate Homes Limited. Both of these companies are incorporated in the UK. |