Bewcastle Properties Ltd 08515319 false 2023-06-01 2024-05-31 2024-05-31 The principal activity of the company is that of property investment. Digita Accounts Production Advanced 6.30.9574.0 true 08515319 2023-06-01 2024-05-31 08515319 2024-05-31 08515319 bus:OrdinaryShareClass1 2024-05-31 08515319 core:CurrentFinancialInstruments 2024-05-31 08515319 core:CurrentFinancialInstruments core:WithinOneYear 2024-05-31 08515319 core:FurnitureFittingsToolsEquipment 2024-05-31 08515319 core:LandBuildings 2024-05-31 08515319 bus:SmallEntities 2023-06-01 2024-05-31 08515319 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 08515319 bus:FilletedAccounts 2023-06-01 2024-05-31 08515319 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 08515319 bus:RegisteredOffice 2023-06-01 2024-05-31 08515319 bus:Director1 2023-06-01 2024-05-31 08515319 bus:Director2 2023-06-01 2024-05-31 08515319 bus:Director3 2023-06-01 2024-05-31 08515319 bus:Director4 2023-06-01 2024-05-31 08515319 bus:Director5 2023-06-01 2024-05-31 08515319 bus:OrdinaryShareClass1 2023-06-01 2024-05-31 08515319 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 08515319 core:FurnitureFittingsToolsEquipment 2023-06-01 2024-05-31 08515319 core:LandBuildings 2023-06-01 2024-05-31 08515319 countries:England 2023-06-01 2024-05-31 08515319 2023-05-31 08515319 core:FurnitureFittingsToolsEquipment 2023-05-31 08515319 core:LandBuildings 2023-05-31 08515319 2022-06-01 2023-05-31 08515319 2023-05-31 08515319 bus:OrdinaryShareClass1 2023-05-31 08515319 core:CurrentFinancialInstruments 2023-05-31 08515319 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 08515319 core:FurnitureFittingsToolsEquipment 2023-05-31 08515319 core:LandBuildings 2023-05-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 08515319

Bewcastle Properties Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2024

 

Bewcastle Properties Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Bewcastle Properties Ltd

Company Information

Directors

Miss Victoria Stinson

D Stinson

W Stinson

A Stinson

K Hyatt

Registered office

590 Green Lanes
Palmers Green
London
N13 5RY

Accountants

Thomas Alexander & Co Ltd
590 Green Lanes
Palmers Green
London
N13 5RY

 

Bewcastle Properties Ltd

(Registration number: 08515319)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,234,805

1,234,872

Current assets

 

Cash at bank and in hand

 

144,910

104,475

Creditors: Amounts falling due within one year

5

(1,194,057)

(1,192,471)

Net current liabilities

 

(1,049,147)

(1,087,996)

Net assets

 

185,658

146,876

Capital and reserves

 

Other reserves

100

100

Retained earnings

185,558

146,776

Shareholders' funds

 

185,658

146,876

For the financial year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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.

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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 2 August 2024 and signed on its behalf by:
 

.........................................
D Stinson
Director

 

Bewcastle Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

1

General information

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

The address of its registered office is:
590 Green Lanes
Palmers Green
London
N13 5RY

The principal place of business is:
5 Bewcastle Gardens
Enfield
Middlesex
EN2 7PH

These financial statements were authorised for issue by the Board on 2 August 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

The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities 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.

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 tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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.

 

Bewcastle Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2023 - 5).

 

Bewcastle Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 June 2023

1,234,424

729

1,235,153

At 31 May 2024

1,234,424

729

1,235,153

Depreciation

At 1 June 2023

-

281

281

Charge for the year

-

67

67

At 31 May 2024

-

348

348

Carrying amount

At 31 May 2024

1,234,424

381

1,234,805

At 31 May 2023

1,234,424

448

1,234,872

Included within the net book value of land and buildings above is £1,234,424 (2023 - £1,234,424) in respect of freehold land and buildings.
 

 

Bewcastle Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

5

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

703,744

703,744

Taxation and social security

 

9,113

7,527

Accruals and deferred income

 

1,200

1,200

Other creditors

 

480,000

480,000

 

1,194,057

1,192,471

6

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100

       

7

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Other borrowings

703,744

703,744