Bewdley Business Centre Ltd 11855442 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is that of property rental and maintenance Digita Accounts Production Advanced 6.30.9574.0 true true 11855442 2023-04-01 2024-03-31 11855442 2024-03-31 11855442 bus:OrdinaryShareClass1 bus:CumulativeShares 2024-03-31 11855442 core:OtherReservesSubtotal 2024-03-31 11855442 core:RetainedEarningsAccumulatedLosses 2024-03-31 11855442 core:ShareCapital 2024-03-31 11855442 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 11855442 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 11855442 core:LandBuildings core:OwnedOrFreeholdAssets 2024-03-31 11855442 bus:SmallEntities 2023-04-01 2024-03-31 11855442 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 11855442 bus:FullAccounts 2023-04-01 2024-03-31 11855442 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 11855442 bus:RegisteredOffice 2023-04-01 2024-03-31 11855442 bus:Director3 2023-04-01 2024-03-31 11855442 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-04-01 2024-03-31 11855442 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 11855442 core:Buildings 2023-04-01 2024-03-31 11855442 core:LandBuildings core:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 11855442 countries:EnglandWales 2023-04-01 2024-03-31 11855442 2023-03-31 11855442 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-31 11855442 2022-04-01 2023-03-31 11855442 2023-03-31 11855442 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-03-31 11855442 core:OtherReservesSubtotal 2023-03-31 11855442 core:RetainedEarningsAccumulatedLosses 2023-03-31 11855442 core:ShareCapital 2023-03-31 11855442 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 11855442 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 11855442 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 11855442

Bewdley Business Centre Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Bewdley Business Centre Ltd

(Registration number: 11855442)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

-

297,955

Investment property

5

530,000

-

 

530,000

297,955

Current assets

 

Cash at bank and in hand

 

6,369

523

Creditors: Amounts falling due within one year

6

(6,238)

(60,386)

Net current assets/(liabilities)

 

131

(59,863)

Total assets less current liabilities

 

530,131

238,092

Creditors: Amounts falling due after more than one year

6

(245,290)

(207,549)

Provisions for liabilities

(51,534)

-

Net assets

 

233,307

30,543

Capital and reserves

 

Called up share capital

7

2

2

Other reserves

180,511

-

Retained earnings

52,794

30,541

Shareholders' funds

 

233,307

30,543

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

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

 

Bewdley Business Centre Ltd

(Registration number: 11855442)
Balance Sheet as at 31 March 2024

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 director on 1 August 2024
 

.........................................
Mr J R Toye
Director

 

Bewdley Business Centre Ltd

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

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:
Severn House
River Side North
Bewdley
Worcestershire
DY12 1AB

These financial statements were authorised for issue by the director on 1 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

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.

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 tax expense for the period comprises current and deferred 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.

 

Bewdley Business Centre Ltd

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

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.

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:

Asset class

Depreciation method and rate

Freehold property

2% straight line

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.

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 the director) during the year, was 2 (2023 - 2).

 

Bewdley Business Centre Ltd

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

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 April 2023

323,863

323,863

Disposals

(323,863)

(323,863)

At 31 March 2024

-

-

Depreciation

At 1 April 2023

25,908

25,908

Eliminated on disposal

(25,908)

(25,908)

At 31 March 2024

-

-

Carrying amount

At 31 March 2024

-

-

At 31 March 2023

297,955

297,955

Included within the net book value of land and buildings above is £Nil (2023 - £297,955) in respect of freehold land and buildings.
 

5

Investment properties

2024
£

Transfers to and from owner-occupied property

297,955

Fair value adjustments

232,045

At 31 March

530,000

The property was valued by an independent valuer in the year at a value of £530,000.

 

Bewdley Business Centre Ltd

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

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

-

5,688

Amounts owed to group undertakings and undertakings in which the company has a participating interest

-

7,130

Taxation and social security

 

5,220

7,277

Accruals and deferred income

 

1,018

1,020

Other creditors

 

-

39,271

 

6,238

60,386

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

245,290

207,549

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary share capital of £1 each

2

2

2

2