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Registered number: 07321177














BETHERSDEN PROPERTY COMPANY LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 MARCH 2024

 
BETHERSDEN PROPERTY COMPANY LIMITED
REGISTERED NUMBER:07321177

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023

Fixed assets
  

Investments
 4 
4
4

Investment property
 5 
787,943
780,971

  
787,947
780,975

Current assets
  

Debtors: amounts falling due within one year
 6 
378,500
370,000

Cash at bank and in hand
 7 
7,653
15,503

  
386,153
385,503

Creditors: amounts falling due within one year
 8 
(384,805)
(395,962)

Net current assets/(liabilities)
  
 
 
1,348
 
 
(10,459)

Total assets less current liabilities
  
789,295
770,516

Provisions for liabilities
  

Deferred tax
 10 
(97,876)
(97,876)

Net assets
  
£691,419
£672,640


Capital and reserves
  

Called up share capital 
 11 
2
2

Revaluation reserve
 12 
353,354
353,354

Profit and loss account
 12 
338,063
319,284

  
£691,419
£672,640


Page 1

 
BETHERSDEN PROPERTY COMPANY LIMITED
REGISTERED NUMBER:07321177

BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 16 September 2024.




___________________________
Mr A J Attfield
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
BETHERSDEN PROPERTY COMPANY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Bethersden Property Company Limited (07321177) is a private company limited by shares and incorporated in England and Wales. The registered office is Caxton Cottage, Ashford Road, Bethersden, Ashford, Kent, TN26 3AP.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
BETHERSDEN PROPERTY COMPANY LIMITED
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.5

Investment property

Investment property is carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of comprehensive income.

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 4

 
BETHERSDEN PROPERTY COMPANY LIMITED
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.11

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 5

 
BETHERSDEN PROPERTY COMPANY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Fixed asset investments





Investments in subsidiary companies



Cost or valuation


At 1 April 2023
4



At 31 March 2024
£4





5.


Investment property


Freehold investment property



Valuation


At 1 April 2023
780,971


Additions at cost
6,972



At 31 March 2024
787,943

The 2024 valuations were made by the directors, on an open market value for existing use basis.



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023


Historic cost
£360,204
£353,232

Page 6

 
BETHERSDEN PROPERTY COMPANY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Debtors

2024
2023


Other debtors
£378,500
£370,000



7.


Cash and cash equivalents

2024
2023

Cash at bank and in hand
£7,653
£15,503



8.


Creditors: Amounts falling due within one year

2024
2023

Trade creditors
118
218

Amounts owed to group undertakings
20,000
47,984

Corporation tax
5,927
-

Other creditors
356,220
347,020

Accruals and deferred income
2,540
740

£384,805
£395,962



9.


Financial instruments

2024
2023

Financial assets


Financial assets measured at fair value through profit or loss
£7,653
£15,503




Financial assets measured at fair value through profit or loss comprise bank and cash balances.


10.


Deferred taxation




2024
2023





At beginning of year
97,876
74,385


Charged to profit or loss
-
23,491



At end of year
£97,876
£97,876

Page 7

 
BETHERSDEN PROPERTY COMPANY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
 
10.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

2024
2023


Revaluation surplus
£97,876
£97,876


11.


Share capital

2024
2023
Allotted, called up and fully paid



2 (2023 - 2) Ordinary shares of £1.00 each
£2
£2



12.


Reserves

Revaluation reserve

The revaluation reserve represents non-distributable reserves arising on the revaluation of the investment properties net of the associated deferred tax liability.

Profit and loss account

The profit and loss account represents the general surpluses and deficits arising from the company's activities. The profit and loss account is fully distributable.

Page 8