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REGISTERED NUMBER: 08628493 (England and Wales)











Beacon Fold Property Services Limited

Unaudited Financial Statements

for the Year Ended 31 July 2023






Beacon Fold Property Services Limited (Registered number: 08628493)






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Company information 1

Balance sheet 2

Notes to the financial statements 4


Beacon Fold Property Services Limited

Company Information
for the Year Ended 31 July 2023







Director: A J Burke





Secretary: Mrs F M Burke





Registered office: 24 Larch Road
Denton
Manchester
Lancashire
M34 6DZ





Registered number: 08628493 (England and Wales)





Accountants: Warr & Co Limited
Chartered Accountants
Mynshull House
78 Churchgate
Stockport
Cheshire
SK1 1YJ

Beacon Fold Property Services Limited (Registered number: 08628493)

Balance Sheet
31 July 2023

31.7.23 31.7.22
Notes £    £   
Fixed assets
Tangible assets 4 261 348
Investment property 5 674,600 743,500
674,861 743,848

Current assets
Debtors 6 - 1,000
Cash at bank 42,509 19,381
42,509 20,381
Creditors
Amounts falling due within one year 7 (483,876 ) (553,980 )
Net current liabilities (441,367 ) (533,599 )
Total assets less current liabilities 233,494 210,249

Provisions for liabilities 8 (12,928 ) (11,610 )
Net assets 220,566 198,639

Beacon Fold Property Services Limited (Registered number: 08628493)

Balance Sheet - continued
31 July 2023

31.7.23 31.7.22
Notes £    £   
Capital and reserves
Called up share capital 9 10 10
Fair value reserve 10 70,318 80,536
Retained earnings 150,238 118,093
Shareholders' funds 220,566 198,639

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

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

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 Income statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 February 2024 and were signed by:





A J Burke - Director


Beacon Fold Property Services Limited (Registered number: 08628493)

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

1. Statutory information

Beacon Fold Property Services 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 is measured at the fair value of the consideration received or receivable, excluding value added tax.

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 cost

Investment property
Investment properties are initially measured at cost and subsequently measured at fair value. Changes in fair value are recognised in profit or loss.

The Companies Act 2006 requires all properties to be depreciated. However, this requirement conflicts with the generally accepted accounting principle set out in FRS 102. The directors consider that, because investment properties are not held for consumption, but for their investment potential, to depreciate them would not give a true and fair view.

If this departure from the Companies Act 2006 had not been made in order to give a true and fair view, the profit for the financial year would have been reduced by depreciation. However the amount of depreciation cannot reasonably be quantified, because depreciation is only one of many factors reflected in the annual valuation and the amount relating to the depreciation of the property cannot be separately identified.

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.


Beacon Fold Property Services Limited (Registered number: 08628493)

Notes to the Financial Statements - continued
for the Year Ended 31 July 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 and directors

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

4. Tangible fixed assets
Fixtures
and
fittings
£   
Cost
At 1 August 2022
and 31 July 2023 1,100
Depreciation
At 1 August 2022 752
Charge for year 87
At 31 July 2023 839
Net book value
At 31 July 2023 261
At 31 July 2022 348

Beacon Fold Property Services Limited (Registered number: 08628493)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

5. Investment property
Total
£   
Fair value
At 1 August 2022 743,500
Disposals (68,900 )
At 31 July 2023 674,600
Net book value
At 31 July 2023 674,600
At 31 July 2022 743,500

Fair value at 31 July 2023 is represented by:
£   
Valuation in 2023 674,600

If investment property had not been revalued it would have been included at the following historical cost:

31.7.23 31.7.22
£    £   
Cost 591,354 651,354

Investment property was valued on an open market basis on 31 July 2023 by the director .

6. Debtors: amounts falling due within one year
31.7.23 31.7.22
£    £   
Trade debtors - 1,000

7. Creditors: amounts falling due within one year
31.7.23 31.7.22
£    £   
Corporation tax 7,167 3,682
Other creditors 475 475
Directors' current accounts 475,304 548,923
Accrued expenses 930 900
483,876 553,980

Beacon Fold Property Services Limited (Registered number: 08628493)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

8. Provisions for liabilities
31.7.23 31.7.22
£    £   
Deferred tax 12,928 11,610

Deferred
tax
£   
Balance at 1 August 2022 11,610
Provided during year 1,318
Balance at 31 July 2023 12,928

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.23 31.7.22
value: £    £   
10 Ordinary £1 10 10

10. Reserves
Fair
value
reserve
£   
At 1 August 2022 80,536
Transfer from retained earnings (10,218 )

At 31 July 2023 70,318