Company registration number 823766 (England and Wales)
BEECH GROVE COURT SERVICES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
BEECH GROVE COURT SERVICES LIMITED
CONTENTS
Page
Statement of financial position
1
Statement of changes in equity
2
Notes to the financial statements
3 - 5
BEECH GROVE COURT SERVICES LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
2,860
2,860
Current assets
Debtors
5
5,043
1,915
Cash at bank and in hand
53,615
107,125
58,658
109,040
Creditors: amounts falling due within one year
6
(11,561)
(14,449)
Net current assets
47,097
94,591
Total assets less current liabilities
49,957
97,451
Capital and reserves
Called up share capital
2,860
2,860
Repairs and renewals reserve
37,097
84,591
Profit and loss reserves
10,000
10,000
Total equity
49,957
97,451
The directors of the company have elected not to include a copy of the income statement 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 11 April 2024 and are signed on its behalf by:
A G Clarke
Director
Company Registration No. 823766
BEECH GROVE COURT SERVICES LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
Share capital
Repairs and renewals reserve
Profit and loss reserves
Total
£
£
£
£
Balance at 1 January 2022
2,860
65,264
10,000
78,124
Period ended 31 December 2022:
Profit and total comprehensive income for the period
-
-
19,327
19,327
Transfers
-
19,327
(19,327)
-
Balance at 31 December 2022
2,860
84,591
10,000
97,451
Period ended 31 December 2023:
Loss and total comprehensive income for the period
-
-
(47,494)
(47,494)
Transfers
-
(47,494)
47,494
-
Balance at 31 December 2023
2,860
37,097
10,000
49,957
BEECH GROVE COURT SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
1
Accounting policies
Company information
Beech Grove Court Services Limited is a private company limited by shares incorporated in England and Wales. The registered office is Glendevon House, 4 Hawthorn Park, Coal Road, Leeds, LS14 1PQ. The company registration number is 823766.
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.
The financial statements have been prepared under the historical cost convention.
The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for maintenance charges made during the year.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold property
Not depreciated
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
Basic financial assets
Basic financial asset, are measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities are recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
BEECH GROVE COURT SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -
1.5
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.
1.6
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
5
5
4
Tangible fixed assets
Freehold property
£
Cost
At 1 January 2023 and 31 December 2023
2,860
Depreciation
At 1 January 2023 and 31 December 2023
Carrying amount
At 31 December 2023
2,860
At 31 December 2022
2,860
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
666
180
Other debtors
4,377
1,735
5,043
1,915
BEECH GROVE COURT SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
7,214
3,605
Other creditors
4,347
10,844
11,561
14,449
7
Related party transactions
No transactions with related parties were undertaken such as are required to be disclosed under the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
8
Managing agents annual declaration
Management fees
During the year Watson property Management, as appointed agent to manage the common areas of the development, received a fee of £4,554 plus VAT.
Company secretarial fees
During the year Watson Property Management, appointed to act as company secretary for the company, received a fixed fee of £398 plus VAT.
Insurance commission
Watson Property Management is authorised to place insurance on behalf of the management company or the landlord. A commission of 10% is paid by the insurers which does not affect the premium of the policy. As agreed with the insurers the commission is paid to Watson Property Management will cover the cost of handling insurance related enquiries such as claims and renewals. Costs which are not included within the standard management fee. The net commission received in the year was £443.