Company Registration No. 12038822 (England and Wales)
Beach Life Property Limited
Unaudited accounts
for the year ended 31 May 2024
Beach Life Property Limited
Unaudited accounts
Contents
Beach Life Property Limited
Company Information
for the year ended 31 May 2024
Directors
Meyrick James Gorzanski
Julia Claire Gorzanski
Company Number
12038822 (England and Wales)
Registered Office
Hyland
Hyde
FORDINGBRIDGE
Hampshire
SP6 2QL
United Kingdom
Accountants
RAE Business Services (Yorkshire) Limited
First Floor
85 Great Portland Street
London
W1W 7LT
Beach Life Property Limited
Accountants' report
Accountants' report to the board of directors of Beach Life Property Limited on the preparation of the unaudited statutory accounts for the year ended 31 May 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Beach Life Property Limited for the year ended
31 May 2024 as set out on pages
5 -
8 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Beach Life Property Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Beach Life Property Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Beach Life Property Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Beach Life Property Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Beach Life Property Limited. You consider that Beach Life Property Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Beach Life Property Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
RAE Business Services (Yorkshire) Limited
First Floor
85 Great Portland Street
London
W1W 7LT
14 October 2024
Beach Life Property Limited
Statement of financial position
as at 31 May 2024
Investment property
600,000
575,000
Cash at bank and in hand
109,254
79,953
Creditors: amounts falling due within one year
(474,263)
(89,821)
Net current liabilities
(363,059)
(7,528)
Total assets less current liabilities
236,941
567,472
Creditors: amounts falling due after more than one year
-
(381,000)
Provisions for liabilities
Deferred tax
(42,248)
(35,998)
Net assets
194,693
150,474
Called up share capital
100
100
Revaluation reserve
126,745
107,995
Profit and loss account
67,848
42,379
Shareholders' funds
194,693
150,474
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 30 October 2024 and were signed on its behalf by
Meyrick James Gorzanski
Director
Company Registration No. 12038822
Beach Life Property Limited
Notes to the Accounts
for the year ended 31 May 2024
Beach Life Property Limited is a private company, limited by shares, registered in England and Wales, registration number 12038822. The registered office is Hyland, Hyde, FORDINGBRIDGE, Hampshire, SP6 2QL, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
33% on cost
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Beach Life Property Limited
Notes to the Accounts
for the year ended 31 May 2024
4
Tangible fixed assets
Fixtures & fittings
Fair value at 1 June 2023
575,000
Net gain from fair value adjustments
25,000
Amounts falling due within one year
7
Creditors: amounts falling due within one year
2024
2023
Amounts owed to group undertakings and other participating interests
7,900
5,900
Taxes and social security
6,443
5,844
Other creditors
2,950
2,340
Loans from directors
456,415
75,182
8
Creditors: amounts falling due after more than one year
2024
2023
Beach Life Property Limited
Notes to the Accounts
for the year ended 31 May 2024
9
Deferred taxation
2024
2023
Revaluation of investment property
42,248
35,998
Provision at start of year
35,998
-
Charged to the profit and loss account
6,250
35,998
Provision at end of year
42,248
35,998
Comparatives have been restated for deferred tax on revaluation of investment properties.
10
Average number of employees
During the year the average number of employees was 0 (2023: 0).