Silverfin false 30/11/2022 01/12/2021 30/11/2022 Andrew Alan Bates 09/11/2020 Euan David Craig 01/01/2021 Radi Singh 01/01/2021 22 November 2023 The principal activity of the Company during the financial year was that of property development.

The current period is 12 months from 1 December 2021 to 30 November 2022 and the comparative period is from 9 November 2020 to 30 November 2021. Therefore the periods are not entirely comparable.
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Company No: 13004433 (England and Wales)

BER CONSTRUCTION LTD

Unaudited Financial Statements
For the financial year ended 30 November 2022
Pages for filing with the registrar

BER CONSTRUCTION LTD

Unaudited Financial Statements

For the financial year ended 30 November 2022

Contents

BER CONSTRUCTION LTD

COMPANY INFORMATION

For the financial year ended 30 November 2022
BER CONSTRUCTION LTD

COMPANY INFORMATION (continued)

For the financial year ended 30 November 2022
DIRECTORS Andrew Alan Bates
Euan David Craig
Radi Singh
REGISTERED OFFICE 2 New Street Square
London
EC4A 3BZ
England
United Kingdom
COMPANY NUMBER 13004433 (England and Wales)
ACCOUNTANT Gravita Business Services Limited
Finsgate
5-7 Cranwood Street
London
EC1V 9EE
United Kingdom

ACCOUNTANT'S REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF
THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF BER CONSTRUCTION LTD

For the financial year ended 30 November 2022

ACCOUNTANT'S REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF
THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF BER CONSTRUCTION LTD (continued)

For the financial year ended 30 November 2022

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of BER Construction Ltd for the financial year ended 30 November 2022 which comprise the Balance Sheet and the related notes 1 to 7 from the Company’s accounting records and from information and explanations you have given us.

We are subject to the ethical and other professional requirements of the Institute of Chartered Accountants in England and Wales (ICAEW) which are detailed at _http://www.icaew.com/en/members/regulations-standards-and-guidance_.

It is your duty to ensure that BER Construction Ltd 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 loss of BER Construction Ltd. You consider that BER Construction Ltd is exempt from the statutory audit requirement for the financial year.

We have not been instructed to carry out an audit or a review of the financial statements of BER Construction Ltd. 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.

This report is made solely to the Board of Directors of BER Construction Ltd, as a body, in accordance with the terms of our engagement letter dated 06 February 2023. Our work has been undertaken solely to prepare for your approval the financial statements of BER Construction Ltd and state those matters that we have agreed to state to the Board of Directors of BER Construction Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than BER Construction Ltd and its Board of Directors as a body for our work or for this report.

Gravita Business Services Limited
Accountant

Finsgate
5-7 Cranwood Street
London
EC1V 9EE
United Kingdom

22 November 2023

BER CONSTRUCTION LTD

BALANCE SHEET

As at 30 November 2022
BER CONSTRUCTION LTD

BALANCE SHEET (continued)

As at 30 November 2022
Note 30.11.2022 30.11.2021
£ £
Fixed assets
Tangible assets 3 33,921 49,473
33,921 49,473
Current assets
Stocks 4 208,801 190,550
208,801 190,550
Creditors: amounts falling due within one year 5 ( 340,537) ( 293,758)
Net current liabilities (131,736) (103,208)
Total assets less current liabilities (97,815) (53,735)
Net liabilities ( 97,815) ( 53,735)
Capital and reserves
Called-up share capital 3 3
Profit and loss account ( 97,818 ) ( 53,738 )
Total shareholders' deficit ( 97,815) ( 53,735)

For the financial year ending 30 November 2022 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of BER Construction Ltd (registered number: 13004433) were approved and authorised for issue by the Board of Directors on 22 November 2023. They were signed on its behalf by:

Euan David Craig
Director
BER CONSTRUCTION LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2022
BER CONSTRUCTION LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2022
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

BER Construction Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 2 New Street Square, London, EC4A 3BZ, United Kingdom.

The financial statements have been prepared under the historical cost convention, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The Company is supported through a loan from a related party. The directors have received assurances that the loan facility will continue to be available for at least 12 months from the date of signing these financial statements and they will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Reporting period length

The current period is 12 months from 1 December 2021 to 30 November 2022 and the comparative period is from 9 November 2020 to 30 November 2021. Therefore the periods are not entirely comparable.

Turnover

Turnover relates to proceeds from the sale of development properties classified as stock. Turnover is recognised at the fair value of the consideration received or receivable, and is shown net of any sales related taxes.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Vehicles 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Financial assets
An asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

For financial assets carried at amortised cost, the amount of impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

Stocks

Stock includes property purchased with the intention for development and resale in the ordinary course of business. Stock is stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes the cost of purchase and costs incurred in development of the property.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

Year ended
30.11.2022
Period from
09.11.2020 to
30.11.2021
Number Number
Monthly average number of persons employed by the Company, including directors 3 3

3. Tangible assets

Vehicles Total
£ £
Cost
At 01 December 2021 62,207 62,207
At 30 November 2022 62,207 62,207
Accumulated depreciation
At 01 December 2021 12,734 12,734
Charge for the financial year 15,552 15,552
At 30 November 2022 28,286 28,286
Net book value
At 30 November 2022 33,921 33,921
At 30 November 2021 49,473 49,473

4. Stocks

30.11.2022 30.11.2021
£ £
Stocks 208,801 190,550

There are no material differences between the replacement cost of stock and the Balance Sheet amounts.

5. Creditors: amounts falling due within one year

30.11.2022 30.11.2021
£ £
Amounts owed to related parties 323,107 293,758
Other creditors 17,430 0
340,537 293,758

6. Related party transactions

No remuneration was paid to the directors in the year (2021: period). The directors are the only key management personnel of the Company.

Included within other creditors is a loan of £323,107 (2021: £293,758) from Redwood Private Investments Limited, a related party by virtue of a common director. The loan is unsecured, interest free and repayable on demand.

7. Ultimate controlling party

There is no individual ultimate controlling party.