Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01falseBuying and selling own real estate11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 01366191 2023-04-01 2024-03-31 01366191 2022-04-01 2023-03-31 01366191 2024-03-31 01366191 2023-03-31 01366191 c:Director1 2023-04-01 2024-03-31 01366191 c:RegisteredOffice 2023-04-01 2024-03-31 01366191 d:FurnitureFittings 2023-04-01 2024-03-31 01366191 d:FurnitureFittings 2024-03-31 01366191 d:FurnitureFittings 2023-03-31 01366191 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 01366191 d:OfficeEquipment 2023-04-01 2024-03-31 01366191 d:OfficeEquipment 2024-03-31 01366191 d:OfficeEquipment 2023-03-31 01366191 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 01366191 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 01366191 d:CurrentFinancialInstruments 2024-03-31 01366191 d:CurrentFinancialInstruments 2023-03-31 01366191 d:Non-currentFinancialInstruments 2024-03-31 01366191 d:Non-currentFinancialInstruments 2023-03-31 01366191 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 01366191 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 01366191 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 01366191 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 01366191 d:ShareCapital 2024-03-31 01366191 d:ShareCapital 2023-03-31 01366191 d:CapitalRedemptionReserve 2024-03-31 01366191 d:CapitalRedemptionReserve 2023-03-31 01366191 d:RetainedEarningsAccumulatedLosses 2024-03-31 01366191 d:RetainedEarningsAccumulatedLosses 2023-03-31 01366191 c:FRS102 2023-04-01 2024-03-31 01366191 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 01366191 c:FullAccounts 2023-04-01 2024-03-31 01366191 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 01366191 2 2023-04-01 2024-03-31 01366191 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure
Registered number: 01366191














BERKELEY SQUARE PROPERTIES LTD
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 MARCH 2024

 
BERKELEY SQUARE PROPERTIES LTD
 
 
COMPANY INFORMATION


Director
P Phillips 




Registered number
01366191



Registered office
67-69 George Street
George Street

London

W1U 8LT




Accountants
Sopher + Co LLP
Chartered Accountants

5 Elstree Gate

Elstree Way

Borehamwood

Hertfordshire

WD6 1JD





 
BERKELEY SQUARE PROPERTIES LTD
 

CONTENTS



Page
Statement of Financial Position
 
 
1 - 2
Notes to the Financial Statements
 
 
3 - 6


 
BERKELEY SQUARE PROPERTIES LTD
REGISTERED NUMBER:01366191

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
3,514
4,134

  
3,514
4,134

Current assets
  

Stocks
  
682,293
1,335,582

Debtors: amounts falling due within one year
 5 
198,986
361,626

Cash at bank and in hand
  
732,113
262,264

  
1,613,392
1,959,472

Current liabilities
  

Creditors: amounts falling due within one year
 6 
(786,135)
(570,400)

Net current assets
  
 
 
827,257
 
 
1,389,072

Total assets less current liabilities
  
830,771
1,393,206

Creditors: amounts falling due after more than one year
 7 
(228,220)
(571,335)

  

Net assets
  
602,551
821,871


Capital and reserves
  

Called up share capital 
  
450
380,450

Capital redemption reserve
  
380,550
550

Profit and loss account
  
221,551
440,871

  
602,551
821,871


Page 1

 
BERKELEY SQUARE PROPERTIES LTD
REGISTERED NUMBER:01366191
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

The director considers 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 director acknowledges his 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 by: 




P Phillips
Director

Date: 4 September 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
BERKELEY SQUARE PROPERTIES LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Berkeley Square Properties Limited is a private company limited by shares incorporated in England and Wales. The registered office is 67-69 George Street, London, W1U 8LT.
The principal activity of the company continued to be that of buying and selling own real estate.
The company's functional and presentational currency is £ Sterling.

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

Turnover

Turnover is recognised at the fair value of the consideration on the sale of property stock. The sale is recognised at the point it becomes unconditional. 
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on transfer of property), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Other income

Other operating income comprises rental income, service charges and other recoveries from tenants of the company's properties. Rental income is recognised on an accruals basis in the period in which it is earned, in accordance with the terms of the lease.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Joint ventures

Dependent on the precise nature of the joint venture , either (i) the company's share of results of the venture is taken directly to the profit and loss account and disclosed as joint venture results , or (ii) the company's share of the whole transaction is included in sales, cost of sales ,interest payable,    loans and stock of properties, as appropriate, or (iii) the whole transaction is accounted for by the company with the results due to third parties being treated as part of cost of sales.

Page 3

 
BERKELEY SQUARE PROPERTIES LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.7

Taxation

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 reporting date in the countries where the Company operates and generates income.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Fixtures and fittings
-
15%
on reducing balance
Office equipment
-
15%
on reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Stocks

Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell after including development costs. Purchases of properties are recognised at completion date.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

 
2.10

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.

Page 4

 
BERKELEY SQUARE PROPERTIES LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.11

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.

 
2.12

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).


4.


Tangible fixed assets





Fixtures and fittings
Office equipment
Total

£
£
£



Cost


At 1 April 2023
16,789
19,663
36,452



At 31 March 2024

16,789
19,663
36,452



Depreciation


At 1 April 2023
16,789
15,529
32,318


Charge for the year on owned assets
-
620
620



At 31 March 2024

16,789
16,149
32,938



Net book value



At 31 March 2024
-
3,514
3,514



At 31 March 2023
-
4,134
4,134

Page 5

 
BERKELEY SQUARE PROPERTIES LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Debtors

2024
2023
£
£


Trade debtors
1,560
-

Other debtors
169,599
343,286

Prepayments and accrued income
27,827
18,340

198,986
361,626



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
18,000
18,000

Other loans
68,033
12,552

Trade creditors
64,051
62,797

Corporation tax
34,252
-

Other taxation and social security
49,431
1,150

Other creditors
547,328
471,386

Accruals and deferred income
5,040
4,515

786,135
570,400



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
11,667
21,667

Other loans
216,553
549,668

228,220
571,335



8.


Related party transactions

Included within other creditors are amounts totalling £200,421 (2023 - £41,742) owed to the director.  These amounts are interest free and repayable on demand.
Included within other creditors are amounts totalling £322,278 (2023 - £158,403) owed to close related parties of the director. These amounts are interest free and repayable on demand.

 
Page 6