Company No:
Contents
DIRECTORS | Mr A C Betteridge |
Mrs C J Betteridge |
REGISTERED OFFICE | Fig Tree Farm St. Marys Road |
Croyde | |
Braunton | |
EX33 1PJ | |
United Kingdom |
COMPANY NUMBER | 10288845 (England and Wales) |
CHARTERED ACCOUNTANTS | Francis Clark LLP |
Centenary House | |
Peninsula Park | |
Rydon Lane | |
Exeter | |
Devon EX2 7XE |
Note | 2023 | 2022 | ||
£ | £ | |||
Restated - note 2 | ||||
Fixed assets | ||||
Investment property | 5 |
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1,450,000 | 1,450,000 | |||
Current assets | ||||
Debtors | 6 |
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Cash at bank and in hand |
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4,622 | 5,052 | |||
Creditors: amounts falling due within one year | 7 | (
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Net current liabilities | (86,105) | (72,284) | ||
Total assets less current liabilities | 1,363,895 | 1,377,716 | ||
Creditors: amounts falling due after more than one year | 8 | (
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Provision for liabilities | (
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Net assets |
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Capital and reserves | ||||
Called-up share capital | 9 |
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Profit and loss account |
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Total shareholders' funds |
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Directors' responsibilities:
The financial statements of Betteridge Holdings Limited (registered number:
Mr A C Betteridge
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Betteridge Holdings Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Fig Tree Farm St. Marys Road, Croyde, Braunton, EX33 1PJ, United Kingdom.
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 items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.
The nature and effects of a prior year error are disclosed in note 2 of the financial statements.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.
The balance on the Profit & Loss Account reserve is non-distributable and arises from the revaluation (net of the relevant provision for deferred taxation) of the companies Investment Properties.
Fixtures and fittings |
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Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
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.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.
Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.
Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.
Other basic financial liabilities are measured at amortised cost.
Comparative figures have been amended to show an adjustment to trade creditors and to other creditors on the Balance Sheet. Year end trade creditors were overstated and the director current account was understated in the previous year's accounts due to the directors paying for a repairs purchase privately.
As previously reported | Adjustment | As restated | ||||
Year ended 31 December 2022 | £ | £ | £ | |||
Trade creditors | (4,317) | 4,152 | (165) | |||
Other creditors | (63,112) | (4,152) | (67,264) |
2023 | 2022 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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Fixtures and fittings | Total | ||
£ | £ | ||
Cost | |||
At 01 January 2023 |
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At 31 December 2023 |
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Accumulated depreciation | |||
At 01 January 2023 |
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At 31 December 2023 |
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Net book value | |||
At 31 December 2023 |
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At 31 December 2022 |
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Investment property | |
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Valuation | |
As at 01 January 2023 |
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As at 31 December 2023 |
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Investment properties were valued on 31 December 2022 by the director who is internal to the company. There has been no formal valuation since then. Therefore, the investment properties have a current value of £1,450,000 (2022 - £1,450,000). The basis of this valuation was open market value.
There has been no valuation of investment property by an independent valuer.
2023 | 2022 | ||
£ | £ | ||
Trade debtors |
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Other debtors |
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2023 | 2022 | ||
£ | £ | ||
Bank loans (secured) |
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Trade creditors |
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Other taxation and social security |
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Other creditors |
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2023 | 2022 | ||
£ | £ | ||
Bank loans (secured) |
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2023 | 2022 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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