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REGISTERED NUMBER: 03989741 (England and Wales)












BEEMA PROPERTIES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023






BEEMA PROPERTIES LIMITED (REGISTERED NUMBER: 03989741)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BEEMA PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTOR: Mrs C Panayiotou





SECRETARY: Mrs C Panayiotou





REGISTERED OFFICE: 85 The Ridgeway
Potters Bar
Hertfordshire
EN6 4BG





REGISTERED NUMBER: 03989741 (England and Wales)





ACCOUNTANTS: Christiansons Ltd
Chartered Certified Accountants
Sterling House
Fulbourne Road
Walthamstow
London
E17 4EE

BEEMA PROPERTIES LIMITED (REGISTERED NUMBER: 03989741)

BALANCE SHEET
31 MAY 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 656 954
Investment property 5 1,650,000 1,650,000
1,650,656 1,650,954

CURRENT ASSETS
Debtors 6 150 131
Cash at bank 85,409 86,977
85,559 87,108
CREDITORS
Amounts falling due within one year 7 13,498 19,577
NET CURRENT ASSETS 72,061 67,531
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,722,717

1,718,485

CREDITORS
Amounts falling due after more than one
year

8

(561,522

)

(561,608

)

PROVISIONS FOR LIABILITIES 11 (164,963 ) (164,963 )
NET ASSETS 996,232 991,914

CAPITAL AND RESERVES
Called up share capital 12 200 200
Fair value reserve 13 966,868 966,868
Retained earnings 13 29,164 24,846
SHAREHOLDERS' FUNDS 996,232 991,914

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

BEEMA PROPERTIES LIMITED (REGISTERED NUMBER: 03989741)

BALANCE SHEET - continued
31 MAY 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 Profit & Loss account has not been delivered.

The financial statements were approved by the director and authorised for issue on 21 February 2024 and were signed by:





Mrs C Panayiotou - Director


BEEMA PROPERTIES LIMITED (REGISTERED NUMBER: 03989741)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023


1. STATUTORY INFORMATION

Beema Properties 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.

Turnover
Turnover represents gross rent and service charges receivable during the year. Turnover is recognise when rent become due under the lease agreement.

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 cost

Investment property
The company's investment properties are held for long term investment and are included in the balance sheet at their open market values. No depreciation is provided in respect of Freehold and long leasehold investment properties. An investment property on short leasehold where the remaining life is less than 20 years is amortised over the life of the lease.

This policy represents a departure from statutory accounting principles, which require depreciation to be provided on all fixed assets. The director consider that this policy is necessary in order that the accounts may give a true and fair view because current values and changes in current values are of prime importance rather than the calculation of systematic annual depreciation. Depreciation is only one of many factors reflected in the valuation and the amount which might otherwise have been shown, cannot be separately identified or quantified.

All Investment properties are revalued every year. The surplus(es) or deficit(s) on revaluation of such properties are transferred to revaluation reserve, apart from when the revaluation is below the original cost and in the opinion of the directors the diminution in value is of a permanent nature which is charged to the profit and loss account. On the disposal of a revalued fixed asset, any related balances in the revaluation reserve are transferred to the profit and loss account as a movement in reserves.

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 statement of financial position date.


BEEMA PROPERTIES LIMITED (REGISTERED NUMBER: 03989741)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 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.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs and are measured subsequently at amortised cost using the effective interest method.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalue amount where the impairment loss is a revaluation decrease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 June 2022
and 31 May 2023 5,245 943 6,188
DEPRECIATION
At 1 June 2022 4,998 236 5,234
Charge for year 62 236 298
At 31 May 2023 5,060 472 5,532
NET BOOK VALUE
At 31 May 2023 185 471 656
At 31 May 2022 247 707 954

BEEMA PROPERTIES LIMITED (REGISTERED NUMBER: 03989741)

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


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2022
and 31 May 2023 1,650,000
NET BOOK VALUE
At 31 May 2023 1,650,000
At 31 May 2022 1,650,000

Fair value at 31 May 2023 is represented by:
£   
Valuation in 2016 881,831
Valuation in 2022 250,000
Cost 518,169
1,650,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Prepayments 150 131

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Tax 493 3,908
Other creditors 2,014 2,014
Shareholders loan account 1,000 1,000
Directors' current accounts 6,991 9,895
Accrued expenses 3,000 2,760
13,498 19,577

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.23 31.5.22
£    £   
Bank loans (see note 9) 561,522 561,608

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 561,522 561,608

BEEMA PROPERTIES LIMITED (REGISTERED NUMBER: 03989741)

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


9. LOANS

An analysis of the maturity of loans is given below:

31.5.23 31.5.22
£    £   
Amounts falling due in more than five years:
Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 561,522 561,608

10. SECURED DEBTS

The following secured debts are included within creditors:

31.5.23 31.5.22
£    £   
Bank loans 561,522 561,608

The bank loans are secured by a fixed and floating charge over all of the company's assets.

11. PROVISIONS FOR LIABILITIES
31.5.23 31.5.22
£    £   
Deferred tax 164,963 164,963

Deferred
tax
£   
Balance at 1 June 2022 164,963
Balance at 31 May 2023 164,963

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.23 31.5.22
value: £    £   
100 A Ordinary shares £1 100 100
100 B ordinary shares £1 100 100
200 200

BEEMA PROPERTIES LIMITED (REGISTERED NUMBER: 03989741)

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


13. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 June 2022 24,846 966,868 991,714
Profit for the year 6,318 6,318
Dividends (2,000 ) (2,000 )
At 31 May 2023 29,164 966,868 996,032

14. CONTROLLING PARTY

The controlling party is Mrs C Panayiotou.