Balmoral Properties Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 07724415 (England and Wales)

BALMORAL PROPERTIES LIMITED

FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2022

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mrs C K Sidhu

Mrs C Patel

REGISTERED OFFICE:

Harpal House

14 Holyhead Road

Handsworth

Birmingham

West Midlands

B21 0LT

REGISTERED NUMBER:

07724415 (England and Wales)

FIXED ASSETS

Tangible assets

4

80,847

80,847

CURRENT ASSETS

Debtors

5

40,127

40,186

Cash at bank

2,964

46,492

43,091

86,678

CREDITORS

Amounts falling due within one year

6

141,485

190,987

NET CURRENT LIABILITIES

(98,394

)

(104,309

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(17,547

)

(23,462

)

CAPITAL AND RESERVES

Called up share capital

8

1,000

1,000

Retained earnings

9

(18,547

)

(24,462

)

SHAREHOLDERS' FUNDS

(17,547

)

(23,462

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2022 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 applicable to companies subject to the small companies regime.

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 and authorised for issue on 27 February 2023 and were signed on its behalf by:

Mrs C K Sidhu - Director

1.	STATUTORY INFORMATION

Balmoral Properties 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.

Tangible fixed assets

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

Freehold property

-

not provided

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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Freehold

property

£

COST

At 1 March 2021

and 28 February 2022

80,847

NET BOOK VALUE

At 28 February 2022

80,847

At 28 February 2021

80,847

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28/2/22

28/2/21

£

£

Homepoint Estate Agents Ltd

40,000

40,000

Prepayments

127

186

40,127

40,186

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28/2/22

28/2/21

£

£

Bank loans and overdrafts (see note 7)

73,273

125,736

Trade creditors

1,338

397

Directors current accounts

66,034

64,134

Accrued expenses

840

720

141,485

190,987

7.

LOANS

An analysis of the maturity of loans is given below:

28/2/22

28/2/21

£

£

Amounts falling due within one year or on demand:

Bank loans

73,273

125,736

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

28/2/22

28/2/21

value:

£

£

1,000

Ordinary

£1

1,000

1,000

9.

RESERVES

Retained

earnings

£

At 1 March 2021

(24,462

)

Profit for the year

5,915

At 28 February 2022

(18,547

)