ACCOUNTS - Final Accounts preparation

BOV MANAGEMENT LIMITED - Company Information

Caseware UK (AP4) 2021.0.152 2021.0.152 2022-02-282022-02-28The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.22021-03-01truefalseManagement of real estate on a fee or contract basis2true 06095719 2021-03-01 2022-02-28 06095719 2020-03-01 2021-02-28 06095719 2022-02-28 06095719 2021-02-28 06095719 c:Director2 2021-03-01 2022-02-28 06095719 d:CurrentFinancialInstruments 2022-02-28 06095719 d:CurrentFinancialInstruments 2021-02-28 06095719 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-28 06095719 d:CurrentFinancialInstruments d:WithinOneYear 2021-02-28 06095719 d:ShareCapital 2022-02-28 06095719 d:ShareCapital 2021-02-28 06095719 d:RetainedEarningsAccumulatedLosses 2022-02-28 06095719 d:RetainedEarningsAccumulatedLosses 2021-02-28 06095719 c:FRS102 2021-03-01 2022-02-28 06095719 c:AuditExempt-NoAccountantsReport 2021-03-01 2022-02-28 06095719 c:FullAccounts 2021-03-01 2022-02-28 06095719 c:PrivateLimitedCompanyLtd 2021-03-01 2022-02-28 iso4217:GBP xbrli:pure

Registered number: 06095719

BOV MANAGEMENT LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2022

BOV MANAGEMENT LIMITED

CONTENTS

	Page
Balance Sheet	1 - 2
Notes to the Financial Statements	3 - 5

BOV MANAGEMENT LIMITED

REGISTERED NUMBER: 06095719

BALANCE SHEET

AS AT 28 FEBRUARY 2022

		2022		2021
Note		£		£


Current assets
Debtors: amounts falling due within one year	4	1,443		1,687
Cash at bank and in hand	5	44,120		40,042
		45,563		41,729
Creditors: amounts falling due within one year	6	(45,229)		(41,395)
Net current assets			334		334
Total assets less current liabilities			334		334

Net assets			334		334

Capital and reserves
Called up share capital	7	7
Profit and loss account	327	327
	334	334

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 29 November 2022.

J Glennon

Director

The notes on pages 3 to 5 form part of these financial statements.

Page 1

BOV MANAGEMENT LIMITED

REGISTERED NUMBER: 06095719

BALANCE SHEET (CONTINUED)

AS AT 28 FEBRUARY 2022

Page 2

BOV MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2022

1.	General information

BOV Management Limited is a private company limited by shares and incorporated in England and Wales. Registered number 06095719. Its registered head office is located at Chantry House High Street, Coleshill, Birmingham, England, B46 3BP.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

2.3

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.4

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.5

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 3

BOV MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2022

2.Accounting policies (continued)

2.6

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

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 the Statement of Comprehensive Income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Employees

The average monthly number of employees, including directors, during the year was 2 (2021 - 2).

Debtors

					2022	2021
					£	£


Trade debtors	1,000	-
Amounts owed to related parties	-	345
Other debtors	443	1,342
	1,443	1,687

5.	Cash and cash equivalents
		2022	2021
		£	£

	Cash at bank and in hand	44,120	40,042

Page 4

BOV MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2022

6.	Creditors: Amounts falling due within one year
		2022	2021
		£	£

Trade creditors	510	7,011
Amounts owed to group undertakings	10,000	10,000
Amounts owed to related parties	18,000	18,271
Accruals and deferred income	16,719	6,113
	45,229	41,395

Related party transactions

At 28 February 2022 the company owed £18,000 (2021: £18,000) to Cannock Developments Limited, a company of which M Tracey is a director.
At 28 February 2022 the company owed £10,000 (2021: £10,000) to Cannock SP Limited, the ultimate controlling party.
At 28 February 2022 the company owed £Nil (2021: £271) to Cannock Regen LLP, a company of which M Tracey is the ultimate controlling party.
At 28 February 2022 the company was owed £Nil (2021: £345) from BOV LLP, a company of which Cannock Regen LLP is a member, of which M Tracey is the ultimate controlling party.

8.	Controlling party

The ultimate parent undertaking of the company is Cannock SP Limited.
The ultimate controlling party of Cannock SP Limited is M Tracey by virtue of his majority shareholding.

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