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Registered number: 12072407
Betteridge Properties Limited
Unaudited Financial Statements
For The Year Ended 29 November 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 12072407
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 3 250,000 250,000
250,000 250,000
CURRENT ASSETS
Debtors 4 186,690 181,360
Cash at bank and in hand 8,267 10,468
194,957 191,828
Creditors: Amounts Falling Due Within One Year 5 (149,801 ) (143,441 )
NET CURRENT ASSETS (LIABILITIES) 45,156 48,387
TOTAL ASSETS LESS CURRENT LIABILITIES 295,156 298,387
Creditors: Amounts Falling Due After More Than One Year 6 (99,812 ) (105,636 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (13,164 ) (13,164 )
NET ASSETS 182,180 179,587
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account 182,179 179,586
SHAREHOLDERS' FUNDS 182,180 179,587
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For the year ending 29 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Matthew James Betteridge
Director
12 July 2024
The notes on pages 3 to 4 form part of these financial statements.
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Notes to the Financial Statements
1. Accounting Policies
1.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
1.2. Turnover
Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales taxes or duty. The following criteria must also be met before revenue is recognised:
Income from investment properties
Rental income from investment properties leased out under an operating lease is recognised in the income statement on a straight-line basis over the term of the lease. Lease incentives granted are recognised as an integral part of the total rental income over the life of the lease.
Service charge income is recognised as revenue in the period to which it relates.
1.3. Investment Properties
Investment properties, including freehold and long leasehold properties, are those which are held either to earn rental income or for capital appreciation or both. Investment properties include property that is being constructed or developed for future use as an investment property.
Investment properties are initially recognised at cost which includes purchase cost and any directly attributable expenditure.
Investment properties whose fair value can be measured reliably are measured at fair value, based on the market valuations.
Any surplus or deficit on revaluation is recognised in the income statement as a fair value gains and losses.
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 1 (2022: 1)
1 1
3. Tangible Assets
Investment Properties
£
Cost
As at 30 November 2022 250,000
As at 29 November 2023 250,000
Net Book Value
As at 29 November 2023 250,000
As at 30 November 2022 250,000
The investment properties were valued, on 29 November 2023, by the directors of the company based on the assessment of available market information and property condition. The directors believe that their valuation would not be materially different from the professional valuation.
4. Debtors
2023 2022
£ £
Due within one year
Prepayments and accrued income - 1,670
Amounts owed by group undertakings 186,690 179,690
186,690 181,360
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5. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Director's loan account 149,801 143,441
149,801 143,441
6. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 99,812 101,981
Other creditors - 3,655
99,812 105,636
7. Secured Creditors
Of the creditors the following amounts are secured.
2023 2022
£ £
Bank loans and overdrafts 99,812 101,981
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
9. Related Party Transactions
Included in creditors due within one year is an amount of £149,801 (2022: £143,441) owed to its director. The amount is interest free and  repayable on demand.
Included in debtors due within one year is an amount of 186,690 (2022: £179,690) owed from the company under the same group undertaking. The amount is interest free and repayable on demand.
10. Ultimate Parent Undertaking and Controlling Party
The company's immediate and ultimate parent undertaking is Betteridge Properties Holding Limited. Betteridge Properties Holding Limited was incorporated in England and Wales. Copies of the parent company's financial statements may be obtained from the secretary, 809 Salisbury House, 29 Finsbury Circus London, EC2M 5SQ, United Kingdom. The ultimate controlling party is Mr Matthew James Betteridge.
11. General Information
Betteridge Properties Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12072407 . The registered office is 809 Salisbury House, 29 Finsbury Circus, London, EC2M 7AQ.
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