Company registration number 05355770 (England and Wales)
BECKET INVESTMENTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024
PAGES FOR FILING WITH REGISTRAR
BECKET INVESTMENTS LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 5
BECKET INVESTMENTS LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF BECKET INVESTMENTS LIMITED FOR THE YEAR ENDED 29 FEBRUARY 2024
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Becket Investments Limited for the year ended 29 February 2024 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the board of directors of Becket Investments Limited, as a body, in accordance with the terms of our engagement letter dated 20 April 2023. Our work has been undertaken solely to prepare for your approval the financial statements of Becket Investments Limited and state those matters that we have agreed to state to the board of directors of Becket Investments Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Becket Investments Limited and its board of directors as a body, for our work or for this report.

It is your duty to ensure that Becket Investments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Becket Investments Limited. You consider that Becket Investments Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Becket Investments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Carpenter Box
28 August 2024
Chartered Accountants
Amelia House
Crescent Road
Worthing
West Sussex
BN11 1RL
BECKET INVESTMENTS LIMITED
BALANCE SHEET
AS AT
29 FEBRUARY 2024
29 February 2024
- 2 -
29 February 2024
28 February 2023
Notes
£
£
£
£
Fixed assets
Investment property
3
4,500,000
2,030,000
Current assets
Cash at bank and in hand
76,506
40,571
Creditors: amounts falling due within one year
4
(36,912)
(27,084)
Net current assets
39,594
13,487
Total assets less current liabilities
4,539,594
2,043,487
Creditors: amounts falling due after more than one year
5
(1,310,896)
(1,310,896)
Provisions for liabilities
(521,403)
-
0
Net assets
2,707,295
732,591
Capital and reserves
Called up share capital
6
2
2
Profit and loss reserves
7
2,707,293
732,589
Total equity
2,707,295
732,591

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.

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 28 August 2024 and are signed on its behalf by:
Mr S Brooker
Mrs H L Brooker
Director
Director
Company registration number 05355770 (England and Wales)
BECKET INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 3 -
1
Accounting policies
Company information

Becket Investments Limited is a private company limited by shares incorporated in England and Wales. The registered office is Amelia House, Crescent Road, Worthing, West Sussex, BN11 1RL.

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. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents amounts rent receivable from investment properties.

1.3
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

BECKET INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 FEBRUARY 2024
1
Accounting policies
(Continued)
- 4 -
1.7
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 2 (2023 - 2).

3
Investment property
2024
£
Fair value
At 1 March 2023
2,030,000
Revaluations
2,470,000
At 29 February 2024
4,500,000

The freehold and leasehold land and buildings were revalued on an open market basis by an external party in 2024 and the directors agreed that this value was changed as at 28 February 2024, the value of the property is £4,500,000. The historical cost of the investment property was £1,828,007.

4
Creditors: amounts falling due within one year
2024
2023
£
£
Taxation and social security
31,691
21,923
Other creditors
5,221
5,161
36,912
27,084

 

5
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
1,310,896
1,310,896
BECKET INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 FEBRUARY 2024
5
Creditors: amounts falling due after more than one year
(Continued)
- 5 -

Long term loans are secured on the property to which they relate.

6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
2
2
2
2
7
Profit and loss reserves

Included within profit and loss reserves are non-distributable reserves of £2,155,040 (2023 - £201,993) relating to the investment property.

2024-02-292023-03-01false28 August 2024CCH SoftwareCCH Accounts Production 2024.200No description of principal activityMr S BrookerMrs H BrookerMrs H L Brookerfalsefalse053557702023-03-012024-02-29053557702024-02-29053557702023-02-2805355770core:CurrentFinancialInstrumentscore:WithinOneYear2024-02-2905355770core:CurrentFinancialInstrumentscore:WithinOneYear2023-02-2805355770core:Non-currentFinancialInstrumentscore:AfterOneYear2024-02-2905355770core:Non-currentFinancialInstrumentscore:AfterOneYear2023-02-2805355770core:CurrentFinancialInstruments2024-02-2905355770core:CurrentFinancialInstruments2023-02-2805355770core:ShareCapital2024-02-2905355770core:ShareCapital2023-02-2805355770core:RetainedEarningsAccumulatedLosses2024-02-2905355770core:RetainedEarningsAccumulatedLosses2023-02-2805355770bus:Director12023-03-012024-02-2905355770bus:CompanySecretaryDirector12023-03-012024-02-29053557702022-03-012023-02-28053557702023-02-2805355770core:Non-currentFinancialInstruments2024-02-2905355770core:Non-currentFinancialInstruments2023-02-2805355770bus:PrivateLimitedCompanyLtd2023-03-012024-02-2905355770bus:SmallCompaniesRegimeForAccounts2023-03-012024-02-2905355770bus:FRS1022023-03-012024-02-2905355770bus:AuditExemptWithAccountantsReport2023-03-012024-02-2905355770bus:Director22023-03-012024-02-2905355770bus:CompanySecretary12023-03-012024-02-2905355770bus:FullAccounts2023-03-012024-02-29xbrli:purexbrli:sharesiso4217:GBP