Company Registration No. 12098040 (England and Wales)
Bevero Properties Limited
Unaudited accounts
for the year ended 31 July 2023
Bevero Properties Limited
Unaudited accounts
Contents
Bevero Properties Limited
Company Information
for the year ended 31 July 2023
Company Number
12098040 (England and Wales)
Registered Office
89 Greenfield Gardens
London
NW2 1HU
Accountants
Solid Ltd
Eagle House
163 City Road
London
EC1V 1NR
Bevero Properties Limited
Statement of financial position
as at 31 July 2023
Investment property
400,000
400,000
Cash at bank and in hand
11,710
5,361
Creditors: amounts falling due within one year
(110,996)
(110,857)
Net current liabilities
(98,183)
(104,401)
Total assets less current liabilities
302,408
296,633
Creditors: amounts falling due after more than one year
(255,970)
(253,995)
Provisions for liabilities
Deferred tax
(5,894)
(5,894)
Called up share capital
1
1
Revaluation reserve
25,125
25,125
Profit and loss account
15,418
11,618
Shareholders' funds
40,544
36,744
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 19 February 2024 and were signed on its behalf by
Faton Sahiti
Director
Company Registration No. 12098040
Bevero Properties Limited
Notes to the Accounts
for the year ended 31 July 2023
Bevero Properties Limited is a private company, limited by shares, registered in England and Wales, registration number 12098040. The registered office is 89 Greenfield Gardens , London , NW2 1HU.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
not depreciated
Fixtures & fittings
over 5 years
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
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 accounts. 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 Director considers the use of the going concern basis of accounting appropriate because there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.
Bevero Properties Limited
Notes to the Accounts
for the year ended 31 July 2023
Cash and cash equivalents
Cash and cash equivalents are basic financial instruments and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
4
Tangible fixed assets
Fixtures & fittings
Fair value at 1 August 2022
400,000
Investment property is included at market fair value. Gains are recognized in the income statement. Deferred taxation is provided on these gains at the rate expected on balance sheet date.
The estimated market value of £400,000 was based on Director's valuation of property which was arrived at by comparison to similar properties in the area.
Amounts falling due within one year
Accrued income and prepayments
1,103
1,095
7
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
995
1,095
Loans from directors
110,001
109,762
Bevero Properties Limited
Notes to the Accounts
for the year ended 31 July 2023
8
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
255,970
253,995
Aggregate of amounts that fall due for payment after five years
255,970
253,995
Interest only mortgage acquired for property purchase. Duration of mortgage is 25 years.
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1
1
10
Average number of employees
During the year the average number of employees was 0 (2022: 0).