Company Registration No. 11362865 (England and Wales)
Blois Properties Limited
Unaudited accounts
for the year ended 30 April 2020
Blois Properties Limited
Unaudited accounts
Contents
Blois Properties Limited
Company Information
for the year ended 30 April 2020
Company Number
11362865 (England and Wales)
Registered Office
The Byre, Dairy Farm
Valley Lane
Great Finborough
Suffolk
IP14 3BE
Accountants
Butterworths
Certified Licensed Accountants
The Byre, Dairy Farm, Valley Lane
Gt. Finborough
Suffolk
IP14 3BE
Blois Properties Limited
Statement of financial position
as at
30 April 2020
Investment property
96,000
84,313
Cash at bank and in hand
40
187
Creditors: amounts falling due within one year
(30,110)
(26,586)
Net current liabilities
(29,487)
(25,768)
Total assets less current liabilities
66,513
58,545
Creditors: amounts falling due after more than one year
(61,238)
(61,235)
Provisions for liabilities
Net assets/(liabilities)
4,273
(2,690)
Called up share capital
1
1
Profit and loss account
4,272
(2,691)
Shareholders' funds
4,273
(2,690)
For the year ending 30 April 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 15 April 2021 and were signed on its behalf by
Mr J Blois
Director
Company Registration No. 11362865
Blois Properties Limited
Notes to the Accounts
for the year ended 30 April 2020
Blois Properties Limited is a private company, limited by shares, registered in England and Wales, registration number 11362865. The registered office is The Byre, Dairy Farm, Valley Lane, Great Finborough, Suffolk, IP14 3BE.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
The director of the company has not identified any material uncertainties related to the events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
4
Investment property
2020
Fair value at 1 May 2019
84,313
Net gain from fair value adjustments
11,687
The company's investment property is valued at its open market value by the director as at the reporting date. The director of the company has relied on professional valuations to arrive at the value presented in the financial statements.
Blois Properties Limited
Notes to the Accounts
for the year ended 30 April 2020
Accrued income and prepayments
83
-
Total debtors less than one year
583
-
6
Creditors: amounts falling due within one year
2020
2019
Loans from directors
29,598
25,921
Please see note 11 in relation to directors loans
7
Creditors: amounts falling due after more than one year
2020
2019
Aggregate of amounts that fall due for payment after five years
61,238
61,235
The bank loan is secured over company's asset by way of a negative pledge and a personal guarantee from the director. The loan is repayable over the period until 2054.
Blois Properties Limited
Notes to the Accounts
for the year ended 30 April 2020
8
Deferred taxation
2020
2019
Revaluation of investment property
2,220
-
Tax losses carried forward
(1,218)
(631)
Provision at start of year
(631)
-
Charged/(credited) to the profit and loss account
1,633
(631)
Provision at end of year
1,002
(631)
Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.
9
Share capital
2020
2019
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1
1
10
Transactions with related parties
During the reporting period the director made advances to the company of £3,677 (2019 : £25,922). £Nil (2019 : £1) has been repaid during the year. The balance outstanding at the end of the reporting period is £29,598 (2019 : £25,921). The loan is repayable on demand and interest free.
11
Average number of employees
During the year the average number of employees was 0 (2019: 0).