REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2024 |
FOR |
BEILBY'S MANCHESTER LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2024 |
FOR |
BEILBY'S MANCHESTER LIMITED |
BEILBY'S MANCHESTER LIMITED (REGISTERED NUMBER: 03910116) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
BEILBY'S MANCHESTER LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31ST MARCH 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
17 Moor Park Avenue |
Preston |
Lancashire |
PR1 6AS |
BEILBY'S MANCHESTER LIMITED (REGISTERED NUMBER: 03910116) |
STATEMENT OF FINANCIAL POSITION |
31ST MARCH 2024 |
31.3.24 | 31.3.23 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 10 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 11 |
Fair Value Reserve | 12 |
Retained earnings | 12 |
SHAREHOLDERS' FUNDS |
BEILBY'S MANCHESTER LIMITED (REGISTERED NUMBER: 03910116) |
STATEMENT OF FINANCIAL POSITION - continued |
31ST MARCH 2024 |
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. |
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 |
BEILBY'S MANCHESTER LIMITED (REGISTERED NUMBER: 03910116) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2024 |
1. | STATUTORY INFORMATION |
Beilby's Manchester Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Tangible fixed assets |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
Investment property |
Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties were initially measured at cost, including transaction costs. |
Subsequently under FRS 102, investment properties are measured at fair value. Investment property valuations are based on an open market value. Deferred tax is provided on these movements. Gains and losses arising from changes in fair value of investment properties are included in the Statement of Income and Fair Value Reserve in the period in which they arise. |
BEILBY'S MANCHESTER LIMITED (REGISTERED NUMBER: 03910116) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2024 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. |
Basic financial assets: |
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future cash flows discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. |
Classification of financial liabilities: |
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. |
Basic financial liabilities: |
Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future cash flows discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. |
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if the payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest rate method. |
Deferred tax |
Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. |
Tax deferred or accelerated is accounted for in respect of all material timing differences, in particular accelerated capital allowances and revaluation gains on investment properties. All deferred tax is charged/(credited) to the Statement of Income and Retained Earnings. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
BEILBY'S MANCHESTER LIMITED (REGISTERED NUMBER: 03910116) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2024 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Motor | Computer |
fittings | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1st April 2023 |
Additions |
Disposals | ( |
) | ( |
) |
At 31st March 2024 |
DEPRECIATION |
At 1st April 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31st March 2024 |
NET BOOK VALUE |
At 31st March 2024 |
At 31st March 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1st April 2023 |
Revaluations | 45,000 |
At 31st March 2024 |
NET BOOK VALUE |
At 31st March 2024 |
At 31st March 2023 |
BEILBY'S MANCHESTER LIMITED (REGISTERED NUMBER: 03910116) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2024 |
5. | INVESTMENT PROPERTY - continued |
Fair value at 31st March 2024 is represented by: |
£ |
Valuation in 2018 | 140,734 |
Valuation in 2019 | (14,500 | ) |
Valuation in 2020 | 26,000 |
Valuation in 2022 | 63,000 |
Valuation in 2023 | 30,000 |
Valuation in 2024 | 45,000 |
Cost | 124,766 |
415,000 |
If Investment properties had not been revalued they would have been included at the following historical cost: |
31.3.24 | 31.3.23 |
£ | £ |
Cost | 124,766 | 124,766 |
Investment properties were valued on an open market basis on 31st March 2024 by the director . |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Payments on account |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Other creditors |
BEILBY'S MANCHESTER LIMITED (REGISTERED NUMBER: 03910116) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2024 |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.3.24 | 31.3.23 |
£ | £ |
Mortgages | 27,236 | 32,150 |
The charges are as follows: |
Legal Charge dated 19 November 2002 held by Capital Home Loans Limited over Freehold Property known as 38 Cannon Hill, Ashton-On-Ribble, Preston. |
Legal Charge dated 18 March 2003 held by Capital Home Loans Limited over Freehold Property known as 27 Bridge Road, Ashton-On-Ribble, Preston. |
Legal Charge dated 22 June 2004 held by Capital Home Loans Limited over Freehold Property known as 34 Hulton Street, Failsworth, Manchester |
10. | PROVISIONS FOR LIABILITIES |
31.3.24 | 31.3.23 |
£ | £ |
Deferred tax |
Accelerated capital allowances | 11,324 | 14,993 |
Tax Losses | (12,758 | ) | (13,984 | ) |
Revaluation Gains | 55,144 | 46,594 |
53,710 | 47,603 |
Deferred |
tax |
£ |
Balance at 1st April 2023 |
Charge to Income Statement during year |
Balance at 31st March 2024 |
11. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.3.24 | 31.3.23 |
value: | £ | £ |
Ordinary | £1 | 1,000 | 1,000 |
BEILBY'S MANCHESTER LIMITED (REGISTERED NUMBER: 03910116) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2024 |
12. | RESERVES |
Fair |
Retained | Value |
earnings | Reserve | Totals |
£ | £ | £ |
At 1st April 2023 | 495,863 |
Profit for the year |
Dividends | ( |
) | ( |
) |
Revaluation in the year | (45,000 | ) | 45,000 | - |
Transfer of Realised Reserves | 46,595 | (46,595 | ) | - |
Deferred tax provision | 55,144 | (55,144 | ) | - |
At 31st March 2024 | 511,896 |