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Registration number: 13176720

Report of the Director and


Annual Report and Unaudited Financial Statements

for the Year Ended 30 November 2023

for
 

Bear Capital Properties Limited

 

Bear Capital Properties Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Bear Capital Properties Limited

Company Information

Director:

Anthony Kerr

Registered office:

1st Floor Frameworks
2 Sheen Road
Richmond
England
TW9 1AE

Registered number:

13176720

Accountants:

Wem & Co
Chartered Accountants
Savoy House
Savoy Circus
London
W3 7DA

 

Bear Capital Properties Limited

(Registration number: 13176720)
Balance Sheet as at 30 November 2023

Note

30.11.23

30.11.22

   

£

£

£

£

FIXED ASSETS

   

 

Investment property

5

 

2,810,601

 

4,792,050

CURRENT ASSETS

   

 

Cash at bank and in hand

 

374,061

 

705,440

 

CREDITORS

   

 

Creditors within 1yr

6

1,216,365

 

1,177,828

 

Net current liabilities

   

(842,304)

 

(472,388)

Total assets less current liabilities

   

1,968,297

 

4,319,662

Creditors
Amounts falling due after more than one year

6

 

960,910

 

960,910

Net assets

   

1,007,387

 

3,358,752

CAPITAL AND RESERVES

   

 

Called up share capital

 

200

 

200

Profit and loss account

 

1,007,187

 

3,358,552

Shareholders' funds

   

1,007,387

 

3,358,752

For the financial year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 22 July 2024
 

Anthony Kerr
Director

   
     
 

Bear Capital Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

1.

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1st Floor Frameworks
2 Sheen Road
Richmond
England
TW9 1AE

These financial statements were authorised for issue by the director on 22 July 2024.

2.

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentational currency is Pound Sterling (£).

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

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

 

Bear Capital Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)

2

Accounting policies (continued)

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Bear Capital Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)

3.

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2022 - 0).

4.

Loss/profit before tax

Arrived at after charging/(crediting)

30.11.23
£

30.11.22
£

Income from shares in group undertakings

-

1,687,000

5.

Investment properties

30.11.23
£

At 1 December

4,792,050

Additions

234,317

Transfer to parent company as dividend in specie

(2,215,766)

At 30 November

2,810,601

The properties were valued at the year-end on an open market basis by the director. There was no change in their value.

During the year, four of the properties were transferred to the parent company as dividend in specie.
 

6.

Creditors

Creditors: amounts falling due within one year

Note

30.11.23
£

30.11.22
£

Due within one year

 

Loans from related parties

8

244,564

-

Trade creditors

 

7,879

-

Accruals and deferred income

 

6,000

10,800

Other creditors

 

957,922

1,167,028

 

1,216,365

1,177,828

Included in other creditors is £957,922 owed to the director. No interest or repayment terms have been set.

 

Bear Capital Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)

6

Creditors (continued)

Creditors: amounts falling due after more than one year

Note

30.11.23
£

30.11.22
£

Due after one year

 

Loans and borrowings

8

960,910

960,910

7.

Related party transactions

Loans from related parties

2023

Other related parties
£

Total
£

At start of period

245,586

245,586

Repaid

(1,022)

(1,022)

At end of period

244,564

244,564

2022

Other related parties
£

Total
£

At start of period

245,586

245,586

At end of period

245,586

245,586

8.

Loans and borrowings

30.11.23
£

30.11.22
£

Non-current loans and borrowings

Bank borrowings

960,910

960,910

30.11.23
£

30.11.22
£

Current loans and borrowings

Loans from related parties

244,564

-