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REGISTERED NUMBER: 10785064 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

FOR

BENACREST PROPERTY LTD

BENACREST PROPERTY LTD (REGISTERED NUMBER: 10785064)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


BENACREST PROPERTY LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTORS: Mrs Y Benedikt
J Benedikt





REGISTERED OFFICE: 13 Chardmore Road
London
N16 6JA





REGISTERED NUMBER: 10785064 (England and Wales)





ACCOUNTANTS: Venitt and Greaves
Chartered Accountants
115 Craven Park Road
South Tottenham
London
N15 6BL

BENACREST PROPERTY LTD (REGISTERED NUMBER: 10785064)

STATEMENT OF FINANCIAL POSITION
31 MAY 2023

31.5.23 31.5.22
Notes £    £   
FIXED ASSETS
Investment property 4 4,121,000 7,551,999

CURRENT ASSETS
Debtors 5 272,391 272,391
Cash at bank 16,114 56,262
288,505 328,653
CREDITORS
Amounts falling due within one year 6 (556,578 ) (382,056 )
NET CURRENT LIABILITIES (268,073 ) (53,403 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,852,927

7,498,596

CREDITORS
Amounts falling due after more than one
year

7

(5,259,872

)

(5,261,930

)
NET (LIABILITIES)/ASSETS (1,406,945 ) 2,236,666

CAPITAL AND RESERVES
Called up share capital 8 2,282,081 2,282,081
Revaluation reserve 9 (3,400,239 ) -
Retained earnings 9 (288,787 ) (45,415 )
SHAREHOLDERS' FUNDS (1,406,945 ) 2,236,666

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

BENACREST PROPERTY LTD (REGISTERED NUMBER: 10785064)

STATEMENT OF FINANCIAL POSITION - continued
31 MAY 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 8 October 2024 and were signed on its behalf by:





J Benedikt - Director


BENACREST PROPERTY LTD (REGISTERED NUMBER: 10785064)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1. STATUTORY INFORMATION

Benacrest 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover represents net rent receivable, excluding value added tax.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2022 7,551,999
Additions 11,285
Disposals (42,045 )
Revaluations (3,400,239 )
At 31 May 2023 4,121,000
NET BOOK VALUE
At 31 May 2023 4,121,000
At 31 May 2022 7,551,999

Fair value at 31 May 2023 is represented by:
£   
Valuation in 2023 (3,400,239 )
Cost 7,521,239
4,121,000

BENACREST PROPERTY LTD (REGISTERED NUMBER: 10785064)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Other debtors 272,391 272,391

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Other creditors 552,258 382,056
Accrued expenses 4,320 -
556,578 382,056

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.23 31.5.22
£    £   
Bank loans more 5 yrs non-inst 5,213,920 5,213,920
Other loans more 5yrs instal 45,952 48,010
5,259,872 5,261,930

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 5,213,920 5,213,920

Repayable by instalments
Other loans more 5yrs instal 45,952 48,010

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.23 31.5.22
value: £    £   
2,282,081 Ordinary £1 2,282,081 2,282,081

9. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 June 2022 (45,415 ) - (45,415 )
Deficit for the year (3,643,611 ) (3,643,611 )
Fair value 3,400,239 (3,400,239 ) -
At 31 May 2023 (288,787 ) (3,400,239 ) (3,689,026 )

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr & Mrs Benedikt.