Bath Estates & Development Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 08865254 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 June 2023

for

BATH ESTATES & DEVELOPMENT LIMITED

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

4

DIRECTORS:

M J Tyrrell

M Tyrrell

REGISTERED OFFICE:

16-18 Queen Square

Bath

BA1 2HN

REGISTERED NUMBER:

08865254 (England and Wales)

ACCOUNTANTS:

Richardson Swift

Chartered Accountants

11 Laura Place

Bath

BA2 4BL

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Bath Estates & Development Limited for the year ended 30 June 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Bath Estates & Development Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Bath Estates & Development Limited and state those matters that we have agreed to state to the Board of Directors of Bath Estates & Development Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Bath Estates & Development Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Bath Estates & Development Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Bath Estates & Development Limited. You consider that Bath Estates & Development Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Bath Estates & Development Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Richardson Swift

Chartered Accountants

11 Laura Place

Bath

BA2 4BL

18 March 2024

FIXED ASSETS

Investments

4

7,291

7,290

Investment property

5

18,000

18,000

25,291

25,290

CURRENT ASSETS

Debtors

6

2,516,036

2,538,360

Cash at bank

171,402

72,401

2,687,438

2,610,761

CREDITORS

Amounts falling due within one year

7

1,161,894

1,120,208

NET CURRENT ASSETS

1,525,544

1,490,553

TOTAL ASSETS LESS CURRENT LIABILITIES

1,550,835

1,515,843

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

1,550,735

1,515,743

SHAREHOLDERS' FUNDS

1,550,835

1,515,843

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 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 18 March 2024 and were signed on its behalf by:

M J Tyrrell - Director

1.	STATUTORY INFORMATION

Bath Estates & Development 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.

Preparation of consolidated financial statements

The financial statements contain information about Bath Estates & Development Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

Turnover represents the amount receivable for services excluding value added tax, recognised when services are rendered.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at 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.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors, loans from banks and other third parties.

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 income statement.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an assets carrying amount and the present value of estimated cash flows discounted at the assets original 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 assets carrying amount and the best estimate, which is an approximation, of the amount the company would receive for the asset if it were to be sold at the reporting 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 July 2022

7,290

Additions

1

At 30 June 2023

7,291

NET BOOK VALUE

At 30 June 2023

7,291

At 30 June 2022

7,290

The company's investments at the Balance Sheet date in the share capital of companies include the following:

LONGACRE (BELVEDERE) LIMITED

Registered office: 16-18 Queen Square, Bath, England, BA1 2HN

Nature of business: Development of building projects

%

Class of shares:

holding

Ordinary

100.00

Longacre Residential Limited

Registered office: 16-18 Queen Square, Bath, England, BA1 2HN

Nature of business: Letting & operating of own or leased real estate

%

Class of shares:

holding

Ordinary

100.00

Longacre Development Limited

Registered office: 16-18 Queen Square, Bath, England, BA1 2HN

Nature of business: Development of building projects

%

Class of shares:

holding

Ordinary

100.00

Longacre Development One Limited

Registered office: 16-18 Queen Square, Bath, England, BA1 2HN

Nature of business: Development of building projects

%

Class of shares:

holding

Ordinary

100.00

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 July 2022

and 30 June 2023

18,000

NET BOOK VALUE

At 30 June 2023

18,000

At 30 June 2022

18,000

The investment property represents the freehold interest in a property. This has been valued by the Directors at the year end using professional valuations previously received.

6.

DEBTORS

2023

2022

£

£

Amounts falling due within one year:

Trade debtors

450

150

Other debtors

51,593

51,014

52,043

51,164

Amounts falling due after more than one year:

Other debtors

2,463,993

2,487,196

Aggregate amounts

2,516,036

2,538,360

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade creditors

(4

)

67

Taxation and social security

1,300

-

Other creditors

1,160,598

1,120,141

1,161,894

1,120,208

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

£

£

100

Ordinary share

£1

100

100

9.	CRITICAL ACCOUNTING ESTIMATES AND UNCERTAINTIES

The directors believe that the value of the investment property in the accounts represents market value.

No other significant judgements or key assumptions have had to be made by the directors in preparing these financial statements.