Company Registration No. 08115587 (England and Wales)
Beach Court Rentals Limited
Unaudited accounts
for the year ended 30 June 2023
Beach Court Rentals Limited
Unaudited accounts
Contents
Beach Court Rentals Limited
Company Information
for the year ended 30 June 2023
Company Number
08115587 (England and Wales)
Registered Office
Attire Accounting Limited
45 Granville Drive
Herne Bay
Kent
CT6 7QZ
Accountants
Attire Accounting Limited
45 Granville Drive
Herne Bay
Kent
CT6 7QZ
Chartered Certified Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of
Beach Court Rentals Limited
for the year ended 30 June 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Beach Court Rentals Limited for the year ended
30 June 2023 as set out on pages
5 -
8 from the Company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/uk/en/about-us/regulation/rulebook.html
This report is made solely to the Board of Directors of Beach Court Rentals Limited, as a body, in accordance with the terms of our engagement letter dated 14 November 2014. Our work has been undertaken solely to prepare for your approval the accounts of Beach Court Rentals Limited and state those matters that we have agreed to state to the Board of Directors of Beach Court Rentals Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Beach Court Rentals Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Beach Court Rentals Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Beach Court Rentals Limited. You consider that Beach Court Rentals Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Beach Court Rentals Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Attire Accounting Limited
Chartered Certified Accountants
45 Granville Drive
Herne Bay
Kent
CT6 7QZ
20 March 2024
Beach Court Rentals Limited
Statement of financial position
as at 30 June 2023
Tangible assets
18,514
24,686
Investment property
822,378
994,214
Cash at bank and in hand
24,062
1,164
Creditors: amounts falling due within one year
(57,917)
(57,435)
Net current liabilities
(33,855)
(56,271)
Total assets less current liabilities
807,037
962,629
Creditors: amounts falling due after more than one year
(189,159)
(356,361)
Provisions for liabilities
Deferred tax
(138,517)
(107,162)
Net assets
479,361
499,106
Called up share capital
100
100
Profit and loss account
479,261
499,006
Shareholders' funds
479,361
499,106
For the year ending 30 June 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 20 March 2024 and were signed on its behalf by
J J W Richardson
Director
Company Registration No. 08115587
Beach Court Rentals Limited
Notes to the Accounts
for the year ended 30 June 2023
Beach Court Rentals Limited is a private company, limited by shares, registered in England and Wales, registration number 08115587. The registered office is Attire Accounting Limited, 45 Granville Drive, Herne Bay, Kent, CT6 7QZ.
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 represents net rents and service charges received, exclusive of value added tax.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
No depreciation provided in respect of investment properties
Plant & machinery
25% reducing balance basis
Motor vehicles
25% reducing balance basis
Computer equipment
33.33% straight line basis
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.
Beach Court Rentals Limited
Notes to the Accounts
for the year ended 30 June 2023
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 July 2022
2,098
25,200
300
27,598
At 30 June 2023
2,098
25,200
300
27,598
At 1 July 2022
1,562
1,050
300
2,912
Charge for the year
134
6,038
-
6,172
At 30 June 2023
1,696
7,088
300
9,084
At 30 June 2023
402
18,112
-
18,514
At 30 June 2022
536
24,150
-
24,686
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Motor vehicles
18,112
24,150
Fair value at 1 July 2022
994,214
The valuation of investment properties was made by the director, J J W Richardson, and in his opinion the valuation is an appropriate market value for the properties.
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
13,580
19,807
Obligations under finance leases and hire purchase contracts
2,974
2,784
Taxes and social security
5,509
1,266
Other creditors
5,225
6,075
Loans from directors
1,352
43
Deferred income
3,675
2,050
The bank loans are secured against the investment properties and by a fixed and floating charge over the other assets of the company.
Beach Court Rentals Limited
Notes to the Accounts
for the year ended 30 June 2023
7
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
179,569
343,797
Obligations under finance leases and hire purchase contracts
9,590
12,564
Aggregate of amounts that fall due for payment after five years
120,997
258,286
The bank loans are secured against the investment properties and by a fixed and floating charge over the other assets of the company.
8
Deferred taxation
2023
2022
Accelerated capital allowances
3,517
4,562
Revaluation of investment property
135,000
102,600
Provision at start of year
107,162
102,798
Charged to the profit and loss account
31,355
4,364
Provision at end of year
138,517
107,162
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
10
Transactions with related parties
During the period the company sold one of it's properties to the Director, at, in the Director's opinion, the market value sum of £175,000 resulting in a profit on disposal of £3,164.
The controlling party is J J W Richardson, the director and shareholder of the company.
12
Average number of employees
During the year the average number of employees was 1 (2022: 1).