IRIS Accounts Production v24.2.0.383 11593779 Board of Directors 1.1.23 31.12.23 31.12.23 0 0 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh115937792022-12-31115937792023-12-31115937792023-01-012023-12-31115937792021-12-31115937792022-01-012022-12-31115937792022-12-3111593779ns15:EnglandWales2023-01-012023-12-3111593779ns14:PoundSterling2023-01-012023-12-3111593779ns10:Director12023-01-012023-12-3111593779ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3111593779ns10:SmallEntities2023-01-012023-12-3111593779ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3111593779ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3111593779ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3111593779ns10:FullAccounts2023-01-012023-12-3111593779ns10:Director22023-01-012023-12-3111593779ns10:RegisteredOffice2023-01-012023-12-3111593779ns5:CurrentFinancialInstruments2023-12-3111593779ns5:CurrentFinancialInstruments2022-12-3111593779ns5:Non-currentFinancialInstruments2023-12-3111593779ns5:Non-currentFinancialInstruments2022-12-3111593779ns5:ShareCapital2023-12-3111593779ns5:ShareCapital2022-12-3111593779ns5:RevaluationReserve2023-12-3111593779ns5:RevaluationReserve2022-12-3111593779ns5:RetainedEarningsAccumulatedLosses2023-12-3111593779ns5:RetainedEarningsAccumulatedLosses2022-12-3111593779ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2023-12-3111593779ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2022-12-3111593779ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-12-3111593779ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2022-12-3111593779ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-12-3111593779ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2022-12-3111593779ns5:RevaluationReserve2022-12-31
REGISTERED NUMBER: 11593779 (England and Wales)















BESPIN PROPERTY LTD

Unaudited Financial Statements for the Year Ended 31 December 2023






BESPIN PROPERTY LTD (REGISTERED NUMBER: 11593779)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BESPIN PROPERTY LTD

Company Information
for the Year Ended 31 December 2023







DIRECTORS: C Kondal
S M Ward





REGISTERED OFFICE: KW House
11 Stourdale Road
Cradley Heath
West Midlands
B64 7BG





REGISTERED NUMBER: 11593779 (England and Wales)





ACCOUNTANTS: Michael Dufty Partnership Limited
59-61 Charlotte Street
St Pauls Square
Birmingham
West Midlands
B3 1PX

BESPIN PROPERTY LTD (REGISTERED NUMBER: 11593779)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,388,000 850,000

CURRENT ASSETS
Debtors 5 - 5,216
Cash at bank and in hand 28,327 65,857
28,327 71,073
CREDITORS
Amounts falling due within one year 6 590,091 328,769
NET CURRENT LIABILITIES (561,764 ) (257,696 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

826,236

592,304

CREDITORS
Amounts falling due after more than one
year

7

(512,119

)

(328,443

)

PROVISIONS FOR LIABILITIES (49,232 ) (36,722 )
NET ASSETS 264,885 227,139

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 8 147,697 110,166
Retained earnings 117,088 116,873
264,885 227,139

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

BESPIN PROPERTY LTD (REGISTERED NUMBER: 11593779)

Balance Sheet - continued
31 December 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 September 2024 and were signed on its behalf by:





S M Ward - Director


BESPIN PROPERTY LTD (REGISTERED NUMBER: 11593779)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Bespin Property Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 850,000
Additions 487,959
Revaluations 50,041
At 31 December 2023 1,388,000
NET BOOK VALUE
At 31 December 2023 1,388,000
At 31 December 2022 850,000

BESPIN PROPERTY LTD (REGISTERED NUMBER: 11593779)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. INVESTMENT PROPERTY - continued

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2022 146,889
Valuation in 2023 50,041
Cost 1,191,070
1,388,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors - 5,216

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 32,443 21,735
Amounts owed to related party 379,850 297,000
Social security and other taxes 4,513 8,832
Directors' current accounts 172,083 -
Accrued expenses 1,202 1,202
590,091 328,769

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 34,362 22,806
Bank loans - 2-5 years 115,262 74,873
Bank loans more 5 yr by instal 362,495 230,764
512,119 328,443

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 362,495 230,764

8. RESERVES
Revaluation
reserve
£   
At 1 January 2023 110,166
Revaluation in year 37,531

At 31 December 2023 147,697

BESPIN PROPERTY LTD (REGISTERED NUMBER: 11593779)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

9. RELATED PARTY DISCLOSURES

At the balance sheet date the company owed £327,932 (£2022: £296,000) to KW Merchandise Ltd, a company with common ownership.

At the balance sheet date the company owed £55,168 (£2022: £Nil) to AAA Merchandise Ltd, a company with common ownership.

At the balance sheet date the company was owed £3,250 (£2022: £-1,000) by Merchoid Ltd, a company with common ownership.