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Registration number: 03799209

Bessborough Estates Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 July 2023

image-name
 

Bessborough Estates Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Bessborough Estates Limited

Company Information

Directors

Mr Richard Rafael Wright

Mrs Susan Rowe

Registered office

Pearl Assurance House
128 Old Christchurch Road
Bournemouth
Dorset
BH1 1NL

Bankers

NatWest

Accountants

A Ferguson Associates Ltd
Accountants and Business Advisors
Alum House
5 Alum Chine Road
Bournemouth
Dorset
BH4 8DT

 

Bessborough Estates Limited

(Registration number: 03799209)
Balance Sheet as at 31 July 2023

Note

2023
£

2022
£

Current assets

 

Stocks

4

104,917

104,917

Debtors

5

501

1,434

Cash at bank and in hand

 

29,728

56,185

 

135,146

162,536

Creditors: Amounts falling due within one year

6

(6,797)

(35,293)

Net assets

 

128,349

127,243

Capital and reserves

 

Called up share capital

7

101

101

Retained earnings

128,248

127,142

Shareholders' funds

 

128,349

127,243

For the financial 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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 4 April 2024 and signed on its behalf by:
 

.........................................
Mr Richard Rafael Wright
Director

.........................................
Mrs Susan Rowe
Director

 
     
 

Bessborough Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Pearl Assurance House
128 Old Christchurch Road
Bournemouth
Dorset
BH1 1NL

These financial statements were authorised for issue by the Board on 4 April 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Bessborough Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Bessborough Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2022 - 0).

4

Stocks

2023
£

2022
£

Work in progress

104,917

104,917

5

Debtors

Current

2023
£

2022
£

Prepayments

501

1,434

 

Bessborough Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

4,498

3,714

Taxation and social security

259

18,487

Accruals

2,040

2,280

Other creditors

-

10,812

6,797

35,293

Creditors: amounts falling due after more than one year

2023
£

2022
£

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary A of £1 each

100

100

100

100

Ordinary B of £1 each

1

1

1

1

 

101

101

101

101

 

Bessborough Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

8

Related party transactions

Summary of transactions with entities with joint control or significant interest

The company has fully repaid a loan from The Perseus Property Company Limited of £10,812 in ther year and as at 31 July 2023 was zero. (2023: £10,812).
Mr R R Wright is the ultimate controlling party of both companies.


 

Loans from related parties

2023

Entities with joint control or significant influence
£

Total
£

At start of period

10,812

10,812

Repaid

(10,812)

(10,812)

At end of period

-

-

2022

Entities with joint control or significant influence
£

Total
£

At start of period

1,110,069

1,110,069

Advanced

10,812

10,812

Repaid

(1,110,069)

(1,110,069)

At end of period

10,812

10,812