Company registration number 05242783 (England and Wales)
BERKSHIRE PROPERTY MANAGEMENT LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
BERKSHIRE PROPERTY MANAGEMENT LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
BERKSHIRE PROPERTY MANAGEMENT LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
4,988,648
4,921,737
Current assets
Debtors
5
168,709
364,371
Cash at bank and in hand
4,724
15,594
173,433
379,965
Creditors: amounts falling due within one year
6
(96,426)
(123,785)
Net current assets
77,007
256,180
Total assets less current liabilities
5,065,655
5,177,917
Creditors: amounts falling due after more than one year
7
(2,912,027)
(2,920,366)
Net assets
2,153,628
2,257,551
Capital and reserves
Called up share capital
100
100
Revaluation reserve
1,387,321
1,387,321
Profit and loss reserves
766,207
870,130
Total equity
2,153,628
2,257,551
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
BERKSHIRE PROPERTY MANAGEMENT LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 17 September 2024 and are signed on its behalf by:
Mr S S Hothi
Director
Company registration number 05242783 (England and Wales)
BERKSHIRE PROPERTY MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information
Berkshire Property Management Limited is a private company limited by shares incorporated in England and Wales. The registered office is 9 Rambler Lane, Langley, Slough, Berkshire, SL3 7RR.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents rent receivable.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Land and buildings Freehold
Nil
Land and buildings Leasehold
Length of remaining lease when purchased.
Computer equipment
25% Straight Line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
BERKSHIRE PROPERTY MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
3
Employees
2024
2023
Number
Number
Total
2
2
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 April 2023
5,209,070
1,098
5,210,168
Additions
112,277
112,277
At 31 March 2024
5,321,347
1,098
5,322,445
Depreciation and impairment
At 1 April 2023
287,333
1,098
288,431
Depreciation charged in the year
45,366
45,366
At 31 March 2024
332,699
1,098
333,797
Carrying amount
At 31 March 2024
4,988,648
4,988,648
At 31 March 2023
4,921,737
4,921,737
The freehold and leasehold land and buildings were valued on an open market basis by the directors.
If these properties were sold for their revalued amounts it would be necessary to replace them with similar property, and rollover relief against tax on the gain would be available. Accordingly, no timing differences arise and no provision has been made for deferred tax in respect of the revaluation.
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
24,598
16,591
Other debtors
144,111
347,780
168,709
364,371
BERKSHIRE PROPERTY MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
7,434
5,000
Trade creditors
4,957
3,866
Taxation and social security
281
12,164
Other creditors
83,754
102,755
96,426
123,785
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
2,912,027
2,920,366
All loans are secured under fixed charges over the freehold and leasehold properties of the company.