Caseware UK (AP4) 2023.0.135 2023.0.135 2023-10-312023-10-31falseNo description of principal activity2022-11-01false12falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12896135 2022-11-01 2023-10-31 12896135 2021-11-01 2022-10-31 12896135 2023-10-31 12896135 2022-10-31 12896135 c:Director2 2022-11-01 2023-10-31 12896135 d:FurnitureFittings 2022-11-01 2023-10-31 12896135 d:FurnitureFittings 2023-10-31 12896135 d:FurnitureFittings 2022-10-31 12896135 d:FreeholdInvestmentProperty 2022-11-01 2023-10-31 12896135 d:FreeholdInvestmentProperty 2023-10-31 12896135 d:FreeholdInvestmentProperty 2022-10-31 12896135 d:FreeholdInvestmentProperty 2 2022-11-01 2023-10-31 12896135 d:CurrentFinancialInstruments 2023-10-31 12896135 d:CurrentFinancialInstruments 2022-10-31 12896135 d:Non-currentFinancialInstruments 2023-10-31 12896135 d:Non-currentFinancialInstruments 2022-10-31 12896135 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 12896135 d:CurrentFinancialInstruments d:WithinOneYear 2022-10-31 12896135 d:Non-currentFinancialInstruments d:AfterOneYear 2023-10-31 12896135 d:Non-currentFinancialInstruments d:AfterOneYear 2022-10-31 12896135 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-10-31 12896135 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-10-31 12896135 d:ShareCapital 2023-10-31 12896135 d:ShareCapital 2022-10-31 12896135 d:RetainedEarningsAccumulatedLosses 2023-10-31 12896135 d:RetainedEarningsAccumulatedLosses 2022-10-31 12896135 c:OrdinaryShareClass1 2022-11-01 2023-10-31 12896135 c:OrdinaryShareClass1 2023-10-31 12896135 c:OrdinaryShareClass1 2022-10-31 12896135 c:OrdinaryShareClass2 2022-11-01 2023-10-31 12896135 c:OrdinaryShareClass2 2023-10-31 12896135 c:OrdinaryShareClass2 2022-10-31 12896135 c:OrdinaryShareClass3 2022-11-01 2023-10-31 12896135 c:OrdinaryShareClass3 2023-10-31 12896135 c:OrdinaryShareClass3 2022-10-31 12896135 c:OrdinaryShareClass4 2022-11-01 2023-10-31 12896135 c:OrdinaryShareClass4 2023-10-31 12896135 c:OrdinaryShareClass4 2022-10-31 12896135 c:FRS102 2022-11-01 2023-10-31 12896135 c:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 12896135 c:FullAccounts 2022-11-01 2023-10-31 12896135 c:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 12896135 f:PoundSterling 2022-11-01 2023-10-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 12896135









BEARBRIDGE PROPERTIES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

 
BEARBRIDGE PROPERTIES LIMITED
REGISTERED NUMBER: 12896135

BALANCE SHEET
AS AT 31 OCTOBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
15,070
39,878

Investment property
 6 
995,000
2,483,949

  
1,010,070
2,523,827

Current assets
  

Debtors: amounts falling due within one year
 7 
921
-

Cash at bank and in hand
  
3,166
40,788

  
4,087
40,788

Creditors: amounts falling due within one year
 8 
(451,588)
(1,744,351)

Net current liabilities
  
 
 
(447,501)
 
 
(1,703,563)

Total assets less current liabilities
  
562,569
820,264

Creditors: amounts falling due after more than one year
 9 
-
(752,257)

  

Net assets
  
562,569
68,007


Capital and reserves
  

Called up share capital 
 11 
400
400

Profit and loss account
  
562,169
67,607

  
562,569
68,007


Page 1

 
BEARBRIDGE PROPERTIES LIMITED
REGISTERED NUMBER: 12896135
    
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 July 2024.

................................................
N Bridger
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
BEARBRIDGE PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1.


General information

Bearbridge Properties Limited ("the Company") is a private limited company by shares and it is incorporated in England and Wales. The Company's principal activity is that of property investment and letting. The address of its registered office is Leytonstone House, 3 Hanbury Drive, Leytonstone, London, E11 1GA.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Operating leases: the Company as lessor

Rental income from operating leases is credited to profit or loss on a straight-line basis over the lease term.

  
2.3

Revenue

Rental income is recognised in the period to which it relates. 

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
BEARBRIDGE PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

  
2.7

Investment Property

Investment property is carried at fair value determined annually by the directors. No depreciation is provided. Changes in fair value are recognised in the Statement of comprehensive income.

  
2.8

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 4

 
BEARBRIDGE PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

3.


Judgments in applying accounting policies and key sources of estimation uncertainty

Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. 
a) Critical judgments in applying accounting policies
(i) Valuation of investment properties
The valuation of investment properties has been made by the directors based on thier personal expertise and knowledge of the market.
b) Critical accounting estimates and assumptions
The Company does not consider there to be any critical estimates and assumptions in applying accounting policies.


4.


Employees




The average monthly number of employees, including directors, during the year was 1 (2022 - 2).


5.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 November 2022
39,878


Additions
6,784


Disposals
(31,592)



At 31 October 2023

15,070






Net book value



At 31 October 2023
15,070



At 31 October 2022
39,878

Page 5

 
BEARBRIDGE PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

6.


Investment property


Freehold investment property

£



Valuation


At 1 November 2022
2,483,949


Disposals
(1,873,541)


Surplus on revaluation
384,592



At 31 October 2023
995,000

The 2023 valuations were made by the director, on an open market value for existing use basis.





7.


Debtors

2023
2022
£
£


Trade debtors
144
-

Other debtors
777
-

921
-



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
-
31,211

Corporation tax
40,735
11,014

Other taxation and social security
-
1,402

Other creditors
400,853
1,690,724

Accruals and deferred income
10,000
10,000

451,588
1,744,351


Page 6

 
BEARBRIDGE PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
-
752,257


Bank loans respresent interest only mortgages that are secured on the properties to which they relate.


10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£




Amounts falling due after more than 5 years

Bank loans
-
752,257



11.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary A shares of £1.00 each
100
100
100 (2022 - 100) Ordinary B shares of £1.00 each
100
100
100 (2022 - 100) Ordinary C shares of £1.00 each
100
100
100 (2022 - 100) Ordinary D shares of £1.00 each
100
100

400

400



12.


Commitments under operating leases

The Company had no commitments under non-cancellable operating leases at the balance sheet date.


13.


Lease of assets

The Company has aggregate rentals receivable in relation to operating leases of £137,309 (2022 - £151,217).
At the year end, the Company held fixed assets used in operating leases at a valaution of £995,000 (2022 - £2,483,949). There is no related depreciation.

Page 7

 
BEARBRIDGE PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

14.


Related party transactions

Included within the Directors Loan Account is an amount of £396,953 (2022 - £1,588,529) due to the directors. 


15.


Controlling party

The company regards its director as its ultimate controlling party.

 
Page 8