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REGISTERED NUMBER: 13148981 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024

FOR

BETA HOUSE PROPERTIES LIMITED

BETA HOUSE PROPERTIES LIMITED (REGISTERED NUMBER: 13148981)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BETA HOUSE PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: G C Ings
M J Richardson





REGISTERED OFFICE: The Old Casino
28 Fourth Avenue
Hove
East Sussex
BN3 2PJ





REGISTERED NUMBER: 13148981 (England and Wales)





ACCOUNTANTS: Galloways Accounting (Hove) Limited
The Old Casino
28 Fourth Avenue
Hove
East Sussex
BN3 2PJ

BETA HOUSE PROPERTIES LIMITED (REGISTERED NUMBER: 13148981)

BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 3 540,000 540,000

CURRENT ASSETS
Debtors 4 50 50
Cash at bank 5,974 11,017
6,024 11,067
CREDITORS
Amounts falling due within one year 5 141,840 149,766
NET CURRENT LIABILITIES (135,816 ) (138,699 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

404,184

401,301

CREDITORS
Amounts falling due after more than one
year

6

(352,413

)

(352,483

)

PROVISIONS FOR LIABILITIES (13,165 ) (13,165 )
NET ASSETS 38,606 35,653

CAPITAL AND RESERVES
Called up share capital 50 50
Fair value reserve 7 39,493 39,493
Retained earnings (937 ) (3,890 )
38,606 35,653

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

BETA HOUSE PROPERTIES LIMITED (REGISTERED NUMBER: 13148981)

BALANCE SHEET - continued
31 JANUARY 2024


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 Board of Directors and authorised for issue on 2 April 2024 and were signed on its behalf by:




G C Ings - Director



M J Richardson - Director


BETA HOUSE PROPERTIES LIMITED (REGISTERED NUMBER: 13148981)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1. 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.

These financial statements have been prepared on the basis that the company will continue to be a going concern. If this assumption is not considered valid, then adjustments would need to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that might arise and to reclassify fixed assets and long term liabilities as current assets and liabilities.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

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.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

3. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023
and 31 January 2024 540,000
NET BOOK VALUE
At 31 January 2024 540,000
At 31 January 2023 540,000

Fair value at 31 January 2024 is represented by:
£   
Valuation in 2024 540,000

BETA HOUSE PROPERTIES LIMITED (REGISTERED NUMBER: 13148981)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Directors' loan accounts 50 50

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed to associates 140,605 148,605
Accrued expenses 1,235 1,161
141,840 149,766

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Mortgage 352,413 352,483

7. RESERVES
Fair
value
reserve
£   
At 1 February 2023
and 31 January 2024 39,493

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 January 2024 and 31 January 2023:

2024 2023
£    £   
G C Ings
Balance outstanding at start of year (25 ) (25 )
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (25 ) (25 )

M J Richardson
Balance outstanding at start of year (25 ) (25 )
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (25 ) (25 )

This balance represented the maximum amount outstanding during the year and the loan is interest free and repayable on demand.

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is G C Ings & M J Richardson.

This was by virtue of their 100% holding of the issued share capital.

BETA HOUSE PROPERTIES LIMITED (REGISTERED NUMBER: 13148981)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

10. ACCOUNTING BASIS

As stated in the accounting policy note, these financial statements have been prepared on the basis that the company will continue to be a going concern. As at the year end the current liabilities exceeded current assets by £135,816 (2023: £138,699).

The validity of this basis depends upon the continued support of the company's directors. The directors confirms that they will give the required support.