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Company No: 10288845 (England and Wales)

BETTERIDGE HOLDINGS LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

BETTERIDGE HOLDINGS LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

BETTERIDGE HOLDINGS LIMITED

COMPANY INFORMATION

For the financial year ended 31 December 2023
BETTERIDGE HOLDINGS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2023
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
BETTERIDGE HOLDINGS LIMITED

BALANCE SHEET

As at 31 December 2023
BETTERIDGE HOLDINGS LIMITED

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Restated - note 2
Fixed assets
Investment property 5 1,450,000 1,450,000
1,450,000 1,450,000
Current assets
Debtors 6 1,565 1,609
Cash at bank and in hand 3,057 3,443
4,622 5,052
Creditors: amounts falling due within one year 7 ( 90,727) ( 77,336)
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 ( 698,545) ( 712,748)
Provision for liabilities ( 68,000) ( 68,000)
Net assets 597,350 596,968
Capital and reserves
Called-up share capital 9 390,002 390,002
Profit and loss account 207,348 206,966
Total shareholders' funds 597,350 596,968

For the financial year ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Betteridge Holdings Limited (registered number: 10288845) were approved and authorised for issue by the Board of Directors on 28 August 2024. They were signed on its behalf by:

Mr A C Betteridge
Director
BETTERIDGE HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
BETTERIDGE HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

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.

General information and basis of accounting

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 £.

Prior year adjustment

The nature and effects of a prior year error are disclosed in note 2 of the financial statements.

Turnover

Turnover comprises rental income receivable which is recognised in the rental period.

Taxation

Current tax
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.

Reserves

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.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Fixtures and fittings 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

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.

2. Prior year adjustment

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)

3. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 1 1

4. Tangible assets

Fixtures and fittings Total
£ £
Cost
At 01 January 2023 6,183 6,183
At 31 December 2023 6,183 6,183
Accumulated depreciation
At 01 January 2023 6,183 6,183
At 31 December 2023 6,183 6,183
Net book value
At 31 December 2023 0 0
At 31 December 2022 0 0

5. Investment property

Investment property
£
Valuation
As at 01 January 2023 1,450,000
As at 31 December 2023 1,450,000

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.

6. Debtors

2023 2022
£ £
Trade debtors 1,200 1,100
Other debtors 365 509
1,565 1,609

7. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans (secured) 12,585 9,854
Trade creditors 180 165
Other taxation and social security 98 53
Other creditors 77,864 67,264
90,727 77,336

Included in the total bank borrowings at the year end is £12,585 (2022: £9,854) on which the investment properties have been pledged as security.

8. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans (secured) 698,545 712,748

Included in the total bank borrowings at the year end is £698,545 (2022: £712,748) on which the investment properties have been pledged as security.

9. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
390,002 Ordinary shares of £ 1.00 each 390,002 390,002