Registered number
11163609
Berkeley Stays Limited
Unaudited Filleted Accounts
31 January 2023
Berkeley Stays Limited
Registered number: 11163609
Balance Sheet
as at 31 January 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 940,000 940,000
Current assets
Debtors 4 643 643
Cash at bank and in hand 57,485 124,714
58,128 125,357
Creditors: amounts falling due within one year 5 (832,254) (470,928)
Net current liabilities (774,126) (345,571)
Total assets less current liabilities 165,874 594,429
Creditors: amounts falling due after more than one year 6 - (457,041)
Provisions for liabilities (10,873) (10,873)
Net assets 155,001 126,515
Capital and reserves
Called up share capital 9 9
Profit and loss account - non-distributable 8 46,352 46,352
Profit and loss account - distributable 108,640 80,154
Shareholders' funds 155,001 126,515
The director is 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 director acknowledges his 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.
J Burnell
Director
Approved by the board on 18 October 2023
Berkeley Stays Limited
Notes to the Accounts
for the year ended 31 January 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).
Turnover
Turnover represents the value of rental income receivable in respect of the company's investment properties.
Investment properties
The company's investment properties are initially recorded at cost, which includes the purchase price and any directly attributable expenditure. Investment properties are re-valued regularly to ensure that their carrying value in the accounts does not differ materially from their fair value at the balance sheet date. Changes in the fair value of the investment properties as a result of a revaluation are recognised in the profit and loss account and accumulated in the non-distributable profit and loss account reserve within capital and reserves.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 February 2022 940,000
At 31 January 2023 940,000
Depreciation
At 31 January 2023 -
Net book value
At 31 January 2023 940,000
At 31 January 2022 940,000
The company's investment properties were professionally valued at £940,000 on 9 March 2018, by an independent professional valuer, on a market value basis. The director considers this valuation to be representative of the fair values of the company's investment properties as at 31 January 2023.
4 Debtors 2023 2022
£ £
Other debtors 643 643
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 458,510 -
Taxation and social security costs 6,682 7,583
Other creditors 367,062 463,345
832,254 470,928
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans - 457,041
7 Loans 2023 2022
£ £
Creditors include:
Secured bank loans 458,510 457,041
Bank Loans are secured by fixed and floating charges over the company's investment properties.
8 Profit and loss account - non-distributable 2023 2022
£ £
At 1 February 2022 46,352 46,352
At 31 January 2023 46,352 46,352
9 Related party transactions
Included within creditors: amounts falling due within one year are loans from shareholders totalling £331,440 (2022 - £443,268). The loans are interest free and repayable on demand.
10 Other information
Berkeley Stays Limited is a private company limited by shares and incorporated in England. Its registered office is:
70 Park Row
Clifton
Bristol
BS1 5LE
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