Registered number
14233051
Be Squared Developments Ltd.
Filleted Accounts
31 March 2023
Be Squared Developments Ltd.
Registered number: 14233051
Balance Sheet
as at 31 March 2023
Notes 2023
£
Fixed assets
Tangible assets 3 222,221
Current assets
Cash at bank and in hand 42,460
Creditors: amounts falling due within one year 4 (152,638)
Net current liabilities (110,178)
Total assets less current liabilities 112,043
Creditors: amounts falling due after more than one year 5 (120,224)
Net liabilities (8,181)
Capital and reserves
Share premium 100
Profit and loss account (8,281)
Shareholders' funds (8,181)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Peter Bowie
Director
Approved by the board on 21 August 2023
Be Squared Developments Ltd.
Notes to the Accounts
for the period from 13 July 2022 to 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023
Number
Average number of persons employed by the company 0
3 Investment Property
Land and buildings
£
Cost
Additions 222,221
At 31 March 2023 222,221
Depreciation
At 31 March 2023 -
Net book value
At 31 March 2023 222,221
4 Creditors: amounts falling due within one year 2023
£
Mortgage 151,138
Trade creditors 1,500
152,638
5 Creditors: amounts falling due after one year 2023
£
Director loan accounts 120,224
6 Other information
Be Squared Developments Ltd. is a private company limited by shares and incorporated in England. Its registered office is:
16 Craster Point
Seaham
Co. Durham
SR7 7WW
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