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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
Page
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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
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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
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Beach Life Property Limited Statement of financial position as at 31 May 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Investment property
600,000 
575,000 
Current assets
Debtors
1,950 
2,340 
Cash at bank and in hand
109,254 
79,953 
111,204 
82,293 
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 
Capital and reserves
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
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Beach Life Property Limited Notes to the Accounts for the year ended 31 May 2024
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
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
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 taxation
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.
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Beach Life Property Limited Notes to the Accounts for the year ended 31 May 2024
4
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 June 2023
7,988 
At 31 May 2024
7,988 
Depreciation
At 1 June 2023
7,988 
At 31 May 2024
7,988 
Net book value
At 31 May 2024
- 
5
Investment property
2024 
£ 
Fair value at 1 June 2023
575,000 
Net gain from fair value adjustments
25,000 
At 31 May 2024
600,000 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Other debtors
1,950 
2,340 
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 
Accruals
555 
555 
474,263 
89,821 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Other creditors
- 
381,000 
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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 
2024 
2023 
£ 
£ 
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).
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