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REGISTERED NUMBER: 10421937 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

FOR

BETTS PROPERTY HOLDINGS LIMITED

BETTS PROPERTY HOLDINGS LIMITED (REGISTERED NUMBER: 10421937)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


BETTS PROPERTY HOLDINGS LIMITED (REGISTERED NUMBER: 10421937)

BALANCE SHEET
30 SEPTEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 12,183 22,856
Investment property 5 4,019,702 3,274,073
4,031,885 3,296,929

CURRENT ASSETS
Debtors 6 360,750 337,628
Cash at bank 30,104 105,529
390,854 443,157
CREDITORS
Amounts falling due within one year 7 502,900 611,448
NET CURRENT LIABILITIES (112,046 ) (168,291 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,919,839

3,128,638

CREDITORS
Amounts falling due after more than one year 8 (2,727,497 ) (2,468,749 )

PROVISIONS FOR LIABILITIES (226,737 ) (107,944 )
NET ASSETS 965,605 551,945

CAPITAL AND RESERVES
Called up share capital 10 210 210
Non distributable reserve 676,570 314,801
Retained earnings 288,825 236,934
SHAREHOLDERS' FUNDS 965,605 551,945

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

BETTS PROPERTY HOLDINGS LIMITED (REGISTERED NUMBER: 10421937)

BALANCE SHEET - continued
30 SEPTEMBER 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 Board of Directors and authorised for issue on 11 March 2024 and were signed on its behalf by:





L J Betts - Director


BETTS PROPERTY HOLDINGS LIMITED (REGISTERED NUMBER: 10421937)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

1. STATUTORY INFORMATION

Betts Property Holdings Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 10421937

Registered office: Ingram House
6 Meridian Way
Norwich
NR7 0TA

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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 £.

Turnover
Rental income from operating leases, net of Value Added Tax, and is recognised on a straight-line basis over the term of the relevant lease unless the lease payments are structured to increase with general inflation in which case the income is recognised as revenue in accordance with the expected payments.

Consultancy income represents the fair value of services provided during the year on client assignments. Turnover is recognised as contract activity progresses and the right to consideration is earned. Fair value reflects the amount expected to be recoverable from clients and based on the time spent, skills and expertise provided and expenses incurred. Turnover excludes Value Added Tax.

Unbilled turnover on individual client assignments is included as accrued income within debtors. Where individual bills on account exceed revenue recognised on client assignments, the excess is classified as deferred income within creditors.

Tangible assets
Tangible assets are recorded at cost less accumulated depreciation. Depreciation is calculated so as to write off the cost of fixed assets, less their estimated residual values, over the expected useful economic lives of the assets concerned. The principal annual rates used for this purpose are as follows:

Plant and machinery etc - straight line over 3 - 5 years

Investment property
Investment properties are initially recorded at cost which includes purchase cost and any directly attributable expenditure.

Investment properties whose fair value can be measured reliably are measured at fair value. The gain or loss on revaluation is recognised in the Statement of Comprehensive Income in the period in which it arises. Such gains or losses are transferred from retained earnings to a non-distributable reserve.

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.


BETTS PROPERTY HOLDINGS LIMITED (REGISTERED NUMBER: 10421937)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2022 56,703
Additions 1,149
At 30 September 2023 57,852
DEPRECIATION
At 1 October 2022 33,847
Charge for year 11,822
At 30 September 2023 45,669
NET BOOK VALUE
At 30 September 2023 12,183
At 30 September 2022 22,856

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2022 3,274,073
Additions 265,183
Disposals (1,913 )
Revaluations 482,359
At 30 September 2023 4,019,702
NET BOOK VALUE
At 30 September 2023 4,019,702
At 30 September 2022 3,274,073

The directors value the company's investment property portfolio annually at the balance sheet date. The directors use their own knowledge and experience to assess the open market value of each property.

The historical cost of the company's investment properties was £3,117,607 (2022 - £2,854,337).

BETTS PROPERTY HOLDINGS LIMITED (REGISTERED NUMBER: 10421937)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 5,028 1,975
Other debtors 355,722 335,653
360,750 337,628

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 20,530 30,814
Trade creditors 1,302 19,027
Taxation and social security 38,886 26,998
Other creditors 442,182 534,609
502,900 611,448

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 1,927,204 1,746,507
Other creditors 800,293 722,242
2,727,497 2,468,749

Bank loans outstanding at the balance sheet date include instalments due after more than five years of £1,823,685 (2022 - £1,625,034).

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 1,947,734 1,777,321

Bank loans are secured by fixed and floating charges over the company's assets.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
160 Ordinary A £1 160 160
50 Ordinary B £1 50 50
210 210

11. OTHER FINANCIAL COMMITMENTS

The total amount of commitments, guarantees and contingencies is £44,114.