Boden Properties Limited - Accounts to registrar (filleted) - small 23.2.5

Boden Properties Limited - Accounts to registrar (filleted) - small 23.2.5

BODEN PROPERTIES LIMITED - Company Information

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REGISTERED NUMBER: 02900147















Unaudited Financial Statements for the Year Ended 26 July 2023

for

Boden Properties Limited
Boden Properties Limited (Registered number: 02900147)

Contents of the Financial Statements
for the Year Ended 26 July 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Boden Properties Limited

Company Information
for the Year Ended 26 July 2023







DIRECTOR: N D 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
Page 1
Boden Properties Limited (Registered number: 02900147)

Balance Sheet
26 July 2023

26.7.23 26.7.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investments 5 150 150
Investment property 6 420,000 480,983
420,150 481,133

CURRENT ASSETS
Stocks 7 2,000 2,000
Debtors 8 2,500 7,538
Cash at bank and in hand 13,072 59,869
17,572 69,407
CREDITORS
Amounts falling due within one year 9 710,472 751,069
NET CURRENT LIABILITIES (692,900 ) (681,662 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
(272,750
)
(200,529
)

CREDITORS
Amounts falling due after more than one
year
10
49,356
60,242
NET LIABILITIES (322,106 ) (260,771 )

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Revaluation reserve 12 51,193 112,176
Retained earnings (374,299 ) (373,947 )
SHAREHOLDERS' FUNDS (322,106 ) (260,771 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 26 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 26 July 2023 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 notes form part of these financial statements

Page 2 continued...
Boden Properties Limited (Registered number: 02900147)

Balance Sheet - continued
26 July 2023


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 director and authorised for issue on 26 April 2024 and were signed by:





N D Bould - Director


The notes form part of these financial statements

Page 3
Boden Properties Limited (Registered number: 02900147)

Notes to the Financial Statements
for the Year Ended 26 July 2023


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 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 as modified by the revaluation of certain assets.

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 (2022 - 2 ) .

Page 4 continued...
Boden Properties Limited (Registered number: 02900147)

Notes to the Financial Statements - continued
for the Year Ended 26 July 2023


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 27 July 2022
and 26 July 2023 36,730
DEPRECIATION
At 27 July 2022
and 26 July 2023 36,730
NET BOOK VALUE
At 26 July 2023 -

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 27 July 2022
and 26 July 2023 150
NET BOOK VALUE
At 26 July 2023 150
At 26 July 2022 150

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 27 July 2022 480,983
Revaluations (60,983 )
At 26 July 2023 420,000
NET BOOK VALUE
At 26 July 2023 420,000
At 26 July 2022 480,983

Fair value at 26 July 2023 is represented by:
£   
Valuation in 2002 400,618
Valuation in 2006 80,365
Valuation in 2023 (60,983 )
420,000

Page 5 continued...
Boden Properties Limited (Registered number: 02900147)

Notes to the Financial Statements - continued
for the Year Ended 26 July 2023


6. INVESTMENT PROPERTY - continued

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

26.7.23 26.7.22
£    £   
Cost 368,807 368,807

Investment properties were valued on an open market basis basis on 31 January 2024 by Innes England .

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 £10,239 (2022 - £22,435). Such tax would become payable only if the properties were sold.

7. STOCKS
26.7.23 26.7.22
£    £   
Work-in-progress 2,000 2,000

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
26.7.23 26.7.22
£    £   
Trade debtors 2,500 7,538

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
26.7.23 26.7.22
£    £   
Bank loans and overdrafts 10,000 19,090
Trade creditors 36,227 36,784
Amounts owed to group undertakings 281,218 313,488
Taxation and social security 5,020 3,500
Other creditors 378,007 378,207
710,472 751,069

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
26.7.23 26.7.22
£    £   
Bank loans 49,356 60,242

Page 6 continued...
Boden Properties Limited (Registered number: 02900147)

Notes to the Financial Statements - continued
for the Year Ended 26 July 2023


11. SECURED DEBTS

The following secured debts are included within creditors:

26.7.23 26.7.22
£    £   
Bank loans 59,356 79,332

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

12. RESERVES
Revaluation
reserve
£   
At 27 July 2022 112,176
Revaluation realised (60,983 )

At 26 July 2023 51,193

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 (2022 - £1,040).

14. RELATED PARTY DISCLOSURES

Markham Property Investments Limited, is a fellow subsidiary undertaking of Boden Group Holdings Limited. At 26 July 2023 creditors includes £277,004 (2022 - £309,274) due to the above company.

As at 26 July 2023 the company owed £4,214 (2022 - £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.

Page 7