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REGISTERED NUMBER: 12861056 (England and Wales)











Unaudited Financial Statements

for the Year Ended 29 February 2024

for

Beer Properties Ltd

Beer Properties Ltd (Registered number: 12861056)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Beer Properties Ltd

Company Information
for the Year Ended 29 February 2024







DIRECTOR: S Beer





REGISTERED OFFICE: 2 The Oaks
School Lane
Ufford
Woodbridge
Suffolk
IP13 6DX





REGISTERED NUMBER: 12861056 (England and Wales)





ACCOUNTANTS: Knights Lowe Ltd
Chartered Accountants
Crane Court
302 London Road
Ipswich
Suffolk
IP2 0AJ

Beer Properties Ltd (Registered number: 12861056)

Statement of Financial Position
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment properties 4 630,000 654,829

CURRENT ASSETS
Debtors 5 103 80
Cash at bank 5,387 3,713
5,490 3,793
CREDITORS
Amounts falling due within one year 6 507,765 528,845
NET CURRENT LIABILITIES (502,275 ) (525,052 )
TOTAL ASSETS LESS CURRENT LIABILITIES 127,725 129,777

PROVISIONS FOR LIABILITIES 7 14,543 10,656
NET ASSETS 113,182 119,121

CAPITAL AND RESERVES
Called up share capital 8 100 100
Fair value reserve 9 43,628 72,344
Retained earnings 69,454 46,677
SHAREHOLDERS' FUNDS 113,182 119,121

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Beer Properties Ltd (Registered number: 12861056)

Statement of Financial Position - continued
29 February 2024


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 director and authorised for issue on 27 October 2024 and were signed by:





S Beer - Director


Beer Properties Ltd (Registered number: 12861056)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Beer Properties 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.

Going concern
At the Statement of Financial Position date the company had net current liabilities of £502,275 (2023 - £525,052). However, included in creditors falling due within one year is an amount of £494,000 (2023 - £515,000) owed to a company with the same controlling party. The company has confirmed that it will continue to support Beer Properties Limited and repayment of the amount will not be sought until cashflow permits.

Turnover
Turnover is measured at the value of rental income receivable for the accounting period.

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

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable and loans with related parties.

Debt instruments that are payable or receivable within one year, such as trade payables or receivables, are measured at the undiscounted amount of the cash or other consideration expected to be paid or received. Debt instruments that are repayable or receivable after one year are initially measured at the present value of the future cash flows and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each financial year for evidence of impairment. If objective evidence of impairment is found an impairment loss is recognised in the Income Statement.

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 statement of financial position date.


Beer Properties Ltd (Registered number: 12861056)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 1 (2023 - 1 ) .

4. INVESTMENT PROPERTIES
Total
£   
FAIR VALUE
At 1 March 2023 654,829
Revaluations (24,829 )
At 29 February 2024 630,000
NET BOOK VALUE
At 29 February 2024 630,000
At 28 February 2023 654,829

Fair value at 29 February 2024 is represented by:
£   
Valuation in 2022 25,000
Valuation in 2023 58,000
Valuation in 2024 (24,829 )
Cost 571,829
630,000

The investment properties were valued on an open market basis on 29 February 2024 by the director.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 103 80

Beer Properties Ltd (Registered number: 12861056)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 19 34
Taxation and social security 5,585 5,843
Other creditors 502,161 522,968
507,765 528,845

Included in other creditors is £494,000 (2023 - £515,000) owed to a company that has the same controlling party.

7. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Investment properties gains 14,543 10,656

Deferred
tax
£   
Balance at 1 March 2023 10,656
Provided during year 3,887
Balance at 29 February 2024 14,543

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

9. RESERVES
Fair
value
reserve
£   
At 1 March 2023 72,344
Investment properties (28,716 )

At 29 February 2024 43,628

Beer Properties Ltd (Registered number: 12861056)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 29 February 2024 and 28 February 2023:

2024 2023
£    £   
S Beer
Balance outstanding at start of year 77 100
Amounts repaid - (23 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 77 77

11. RELATED PARTY DISCLOSURES

During the year a company with the same controlling party operated part of its business from a property owned by Beer Properties Limited. No rent was charged. At 29 February 2024 Beer Properties Limited also owed this company £494,000 (2023 - £515,000), with the facility being unsecured and interest free.