Boden Properties Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02900147

Unaudited Financial Statements for the Year Ended 28 July 2018

for

Boden Properties Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

N D Bould

B V Bould

REGISTERED OFFICE:

The Corn Exchange

47 High Street

Thrapston

Northamptonshire

NN14 4JJ

REGISTERED NUMBER:

02900147

ACCOUNTANTS:

Mason & Co.

6 The Old Quarry

Nene Valley Business Park

Oundle

Peterborough

PE8 4HN

FIXED ASSETS

Tangible assets

4

-

-

Investments

5

150

150

Investment property

6

480,983

480,983

481,133

481,133

CURRENT ASSETS

Stocks

7

264,115

407,359

Debtors

8

6,068

4,322

Cash at bank and in hand

1,893

118,390

272,076

530,071

CREDITORS

Amounts falling due within one year

9

951,087

1,059,643

NET CURRENT LIABILITIES

(679,011

)

(529,572

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(197,878

)

(48,439

)

CREDITORS

Amounts falling due after more than one year

10

59,951

66,111

NET LIABILITIES

(257,829

)

(114,550

)

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Revaluation reserve

12

112,176

112,176

Retained earnings

(371,005

)

(227,726

)

SHAREHOLDERS' FUNDS

(257,829

)

(114,550

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 July 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 July 2018 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 on 28 April 2019 and were signed on its behalf by:

N D Bould - Director

1.	STATUTORY INFORMATION

Boden Properties Limited is a private company, limited by shares , registered in Not specified/Other. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

10% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

fair value is recognised in profit or loss.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

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 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2017 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 29 July 2017

and 28 July 2018

36,730

DEPRECIATION

At 29 July 2017

and 28 July 2018

36,730

NET BOOK VALUE

At 28 July 2018

-

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 29 July 2017

and 28 July 2018

150

NET BOOK VALUE

At 28 July 2018

150

At 28 July 2017

150

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 29 July 2017

and 28 July 2018

480,983

NET BOOK VALUE

At 28 July 2018

480,983

At 28 July 2017

480,983

Fair value at 28 July 2018 is represented by:

£

Valuation in 2002

400,618

Valuation in 2006

80,365

480,983

If the investment properties had not been revalued they would have been included at the following historical cost:

28.7.18

28.7.17

£

£

Cost

368,807

368,807

Investment properties were valued on an open market basis basis on 31 July 2006 by the directors. .

No provision has been made for deferred tax on gains recognised on revaluing property to its market value. The

estimated total amount unprovided for is £22,435 (2017 - £22,435). Such tax would become payable only if the

properties were sold.

7.

STOCKS

28.7.18

28.7.17

£

£

Work-in-progress

264,115

407,359

Stocks comprise completed development properties and work in progress represents the value of on-going

developments at the year end.

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.7.18

28.7.17

£

£

Trade debtors

1,780

4,322

Other debtors

4,288

-

6,068

4,322

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.7.18

28.7.17

£

£

Bank loans and overdrafts

5,166

5,166

Trade creditors

37,938

80,454

Amounts owed to group undertakings

534,676

495,158

Taxation and social security

-

104,208

Other creditors

373,307

374,657

951,087

1,059,643

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

28.7.18

28.7.17

£

£

Bank loans

59,951

66,111

28.7.18

28.7.17

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

38,562

44,722

11.	SECURED DEBTS

The following secured debts are included within creditors:

28.7.18

28.7.17

£

£

Bank loans

65,117

71,277

The above loans are secured on the company's freehold investment properties and development sites.

12.

RESERVES

Revaluation

reserve

£

At 29 July 2017

and 28 July 2018

112,176

13.	OTHER FINANCIAL COMMITMENTS

The company operates a defined contribution pension scheme for the majority of its employees. The assets of

the scheme are held separately from those of the company in an independently administered fund. Contributions

to the scheme are charged to the profit and loss account as they fall due. The total pension cost for the year was

£1,040 (2017 - £1,140).

14.	RELATED PARTY DISCLOSURES

Markham Property Investments Limited, is a fellow subsidiary undertaking of Boden Group Holdings Limited.

At 28 July 2018 creditors includes £530,462 (2017 - £490,944) due to the above company.

As at 28 July 2018 the company owed £4,214 (2017 - £4,214) to Boden Group Holdings Limited.

15.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr N Bould who holds 60% of the issued share capital in Boden Group

Holdings Limited.