Bilgeson Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 12513269 (England and Wales)

BILGESON LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2022

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

Mr. E Bilge

REGISTERED OFFICE:

45 Fitzhamon Embankment

Cardiff

South Glamorgan

CF11 6AN

REGISTERED NUMBER:

12513269 (England and Wales)

ACCOUNTANTS:

Carston Chartered Accountants

Tudor House

16 Cathedral Road

Cardiff

CF11 9LJ

FIXED ASSETS

Investment property

4

130,105

130,105

CURRENT ASSETS

Cash at bank

5,243

4,004

CREDITORS

Amounts falling due within one year

5

27,876

30,410

NET CURRENT LIABILITIES

(22,633

)

(26,406

)

TOTAL ASSETS LESS CURRENT LIABILITIES

107,472

103,699

CREDITORS

Amounts falling due after more than one year

6

108,750

108,750

NET LIABILITIES

(1,278

)

(5,051

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(1,378

)

(5,151

)

(1,278

)

(5,051

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2022 in accordance with Section 476 of the Companies Act 2006.

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.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 21st December 2022 and were signed by:

Mr. E Bilge - Director

1.	STATUTORY INFORMATION

Bilgeson Limited is a private company, limited by shares , registered in England and Wales. 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 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2021 - 1 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st April 2021

and 31st March 2022

130,105

NET BOOK VALUE

At 31st March 2022

130,105

At 31st March 2021

130,105

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Other creditors

27,876

30,410

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Bank loans

93,750

93,750

Amounts owed to participating interests

15,000

15,000

108,750

108,750

7.	SECURED DEBTS

The following secured debts are included within creditors:

2022

2021

£

£

Bank loans

93,750

93,750

The bank loan is secured against the company investment property.

8.	POST BALANCE SHEET EVENTS

The COVID-19 pandemic has had a significant negative impact on the UK economy.

Given the rapidly evolving nature of the situation and lockdowns, it is difficult to quantify the impact of Covid-19, and the directors recognise that in the longer term its effect may be more significant.

At this time, any long-term effect on the company is unknown, but the company has benefitted from changes in working practices, and the directors remain confident of the financial position of the company.

The directors believe that the company has sufficient reserves and is continuing to generate additional cash reserves to withstand any further economic downturns caused by the pandemic.

Given the above, the directors are confident that it is correct to prepare the accounts on a going concern basis.