2023-02-012024-01-312024-01-31false09946352BECKSWOOD PROPERTIES 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BECKSWOOD PROPERTIES LTD

Registered Number
09946352
(England and Wales)

Unaudited Financial Statements for the Year ended
31 January 2024

BECKSWOOD PROPERTIES LTD
Company Information
for the year from 1 February 2023 to 31 January 2024

Directors

KENYON, Paul
KENYON, Rebecca

Registered Address

Beckswood Properties Limited
Underfield
Greenodd
LA12 8HU

Registered Number

09946352 (England and Wales)
BECKSWOOD PROPERTIES LTD
Balance Sheet as at
31 January 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets15,633,91015,891,367
15,633,91015,891,367
Current assets
Debtors20,3615,935
Cash at bank and on hand42,00582,201
62,36688,136
Creditors amounts falling due within one year4(11,973,691)(12,496,500)
Net current assets (liabilities)(11,911,325)(12,408,364)
Total assets less current liabilities3,722,5853,483,003
Creditors amounts falling due after one year5(545,988)(548,331)
Provisions for liabilities6(619,199)(629,586)
Net assets2,557,3982,305,086
Capital and reserves
Called up share capital100100
Revaluation reserve2,148,3802,148,380
Profit and loss account408,918156,606
Shareholders' funds2,557,3982,305,086
The financial statements were approved and authorised for issue by the Board of Directors on 28 October 2024, and are signed on its behalf by:
KENYON, Rebecca
Director
Registered Company No. 09946352
BECKSWOOD PROPERTIES LTD
Notes to the Financial Statements
for the year ended 31 January 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Plant & Machinery - 33% straight line Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses.
Investments
Investment property Investment properties are shown at fair value. Any surplus or deficit arising from changes in fair value is charged or credited to the profit and loss account for the year and then transferred to a non-distributable reserve. Although this policy is in accordance with FRS 102 it is a departure from the general requirement of the Companies Act for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. Properties are included in fixed assets on legal completion of the contract
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year22
3.Revaluation of fixed asset investments
The investment properties were valued on an Open Market Basis on 31 01 2023 by the rental agency and agreed as accurate by the directors. This class of assets has a current value of £15,880,907.00 (2023 £15,880,907.00) and a carrying amount at historical cost of £13,404,111 (2023 £13,404,111). The depreciation on this historical cost is £nil
4.Creditors: amounts due within one year

2024

2023

££
Taxation and social security113,39956,272
Other creditors11,852,75812,431,655
Accrued liabilities and deferred income7,5348,573
Total11,973,69112,496,500
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
5.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts545,988548,331
Total545,988548,331
6.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)619,199629,586
Total619,199629,586
7.Related party transactions
The director operates a current account with the company. £11,852,758.07 (2023 £12,431,655) was owed to the director by the company at 31 January 2024.