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BVEST LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31ST MARCH 2023






BVEST LIMITED (REGISTERED NUMBER: 07585377)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BVEST LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2023







DIRECTOR: A Beach





SECRETARY: Mrs L Beach





REGISTERED OFFICE: 3 Granny's Lane
Perranporth
Cornwall
TR6 0HB





REGISTERED NUMBER: 07585377 (England and Wales)





ACCOUNTANTS: Haines Watts
First Floor, Woburn Court
2 Railton Road
Woburn Rd Ind Est
Kempston
Bedfordshire
MK42 7PN

BVEST LIMITED (REGISTERED NUMBER: 07585377)

BALANCE SHEET
31ST MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,095 295
Investment property 5 875,000 875,000
876,095 875,295

CURRENT ASSETS
Debtors 6 17,003 2,473
Investments 7 346,981 202,372
Cash at bank 61,276 180,072
425,260 384,917
CREDITORS
Amounts falling due within one year 8 28,748 19,362
NET CURRENT ASSETS 396,512 365,555
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,272,607

1,240,850

CREDITORS
Amounts falling due after more than one year 9 (553,491 ) (537,370 )

PROVISIONS FOR LIABILITIES (73,145 ) (85,264 )
NET ASSETS 645,971 618,216

CAPITAL AND RESERVES
Called up share capital 100 100
Non-Distributable Reserves 11 277,002 314,928
Retained earnings 368,869 303,188
645,971 618,216

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 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.

BVEST LIMITED (REGISTERED NUMBER: 07585377)

BALANCE SHEET - continued
31ST MARCH 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 23rd December 2023 and were signed by:





A Beach - Director


BVEST LIMITED (REGISTERED NUMBER: 07585377)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023

1. STATUTORY INFORMATION

Bvest 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 as modified by the revaluation of certain assets.

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

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

Investment property
Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in profit or loss. No formal valuation has taken place during the year by a professional independent valuer. The current fair value is based on a recognised valuation model.

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.

BVEST LIMITED (REGISTERED NUMBER: 07585377)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023

2. ACCOUNTING POLICIES - continued

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 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1st April 2022 3,732 1,397 5,129
Additions 955 - 955
At 31st March 2023 4,687 1,397 6,084
DEPRECIATION
At 1st April 2022 3,522 1,312 4,834
Charge for year 134 21 155
At 31st March 2023 3,656 1,333 4,989
NET BOOK VALUE
At 31st March 2023 1,031 64 1,095
At 31st March 2022 210 85 295

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st April 2022
and 31st March 2023 875,000
NET BOOK VALUE
At 31st March 2023 875,000
At 31st March 2022 875,000

Fair value at 31st March 2023 is represented by:
£   
Valuation in 2019 368,209
Valuation in 2021 25,000
Cost 481,791
875,000

BVEST LIMITED (REGISTERED NUMBER: 07585377)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 3,143 -
Directors' current accounts - 1,528
Prepayments 13,860 945
17,003 2,473

7. CURRENT ASSET INVESTMENTS
2023 2022
£    £   
Listed investments 162,981 62,372
Unlisted investments 184,000 140,000
346,981 202,372

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 2 -
Corporation tax 11,507 7,495
Other creditors 9,191 8,810
Directors' current accounts 2,611 -
Accruals and deferred income 5,437 3,057
28,748 19,362

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 17,405 15,315
Bank loans - 2-5 years 69,622 61,260
Bank loans more 5 yr by instal 466,464 460,795
553,491 537,370

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 466,464 460,795

10. SECURED DEBTS

Loans and borrowings are secured by way of mortgage charges by the lender over the investment properties owned by the company.

BVEST LIMITED (REGISTERED NUMBER: 07585377)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023

11. RESERVES
Non-Distribut
Reserves
£   
At 1st April 2022 314,928
Revaluation Movement (37,926 )

At 31st March 2023 277,002

12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st March 2023 and 31st March 2022:

2023 2022
£    £   
A Beach
Balance outstanding at start of year 1,528 -
Amounts advanced - 1,528
Amounts repaid (1,528 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 1,528