Company registration number 11156178 (England and Wales)
BEADY EYE INVESTMENTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
BEADY EYE INVESTMENTS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
BEADY EYE INVESTMENTS LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investment property
3
300,000
300,000
Current assets
Debtors
4
700
99
Cash at bank and in hand
11,599
10,673
12,299
10,772
Creditors: amounts falling due within one year
5
(6,233)
(4,672)
Net current assets
6,066
6,100
Total assets less current liabilities
306,066
306,100
Provisions for liabilities
(18,187)
(13,822)
Net assets
287,879
292,278
Capital and reserves
Called up share capital
99
99
Non-distributable profits reserve
6
54,563
58,928
Distributable profit and loss reserves
233,217
233,251
Total equity
287,879
292,278

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 8 April 2024 and are signed on its behalf by:
Mr I R Fraser
Director
Company registration number 11156178 (England and Wales)
BEADY EYE INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

Beady Eye Investments Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Summit, Woodwater Park, Pynes Hill, Exeter, United Kingdom, EX2 5WS.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents amounts receivable for rental income.

1.3
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

1.4
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

 

2023
2022
Number
Number
Total
3
3
BEADY EYE INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
3
Investment property
2023
£
Fair value
At 1 January 2023 and 31 December 2023
300,000

The fair value of the investment property as at 31 December 2023 has been arrived at using an open market value basis by the directors of the company. The valuation was £300,000

4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
700
99
5
Creditors: amounts falling due within one year
2023
2022
£
£
Taxation and social security
4,578
3,052
Other creditors
1,655
1,620
6,233
4,672
6
Non-distributable profits reserve
2023
2022
£
£
At the beginning of the year
58,928
58,928
Non distributable profits in the year
(4,365)
-
At the end of the year
54,563
58,928

The non distributable profit reserve represents a net of tax adjustment for the increase in the value of investment properties.

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