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Registration number: 14066442

Beckford Properties Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2024

 

Beckford Properties Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 7

 

Beckford Properties Ltd

Company Information

Directors

Mr J O Thomas

Mrs R L Thomas

Registered office

7 Penybanc
Tanerdy
Carmarthen
SA31 2HA

 

Beckford Properties Ltd

(Registration number: 14066442)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

260,683

260,683

Current assets

 

Debtors

5

3,035

-

Cash at bank and in hand

 

823

1,607

 

3,858

1,607

Creditors: Amounts falling due within one year

6

(91,168)

(90,333)

Net current liabilities

 

(87,310)

(88,726)

Total assets less current liabilities

 

173,373

171,957

Creditors: Amounts falling due after more than one year

6

(173,700)

(173,700)

Net liabilities

 

(327)

(1,743)

Capital and reserves

 

Called up share capital

1

1

Profit and loss account

(328)

(1,744)

Total equity

 

(327)

(1,743)

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

 

Beckford Properties Ltd

(Registration number: 14066442)
Balance Sheet as at 30 April 2024

Approved and authorised by the Board on 7 November 2024 and signed on its behalf by:

.........................................
Mr J O Thomas
Director

.........................................
Mrs R L Thomas
Director

 
     
 

Beckford Properties Ltd

Notes to the Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
7 Penybanc
Tanerdy
Carmarthen
SA31 2HA

These financial statements were authorised for issue by the Board on 7 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

The company earns rental income from their investment properties. Rental income is recognised on an accrual basis in accordance with the substance of the relevant agreement.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Beckford Properties Ltd

Notes to the Financial Statements for the Year Ended 30 April 2024

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Investment properties

2024
£

At 1 May

260,683

At 30 April

260,683

There has been no valuation of investment property by an independent valuer.

 

Beckford Properties Ltd

Notes to the Financial Statements for the Year Ended 30 April 2024

5

Debtors

2024
£

2023
£

Trade debtors

3,035

-

3,035

-

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Amounts owed to group undertakings and undertakings in which the company has a participating interest

 

90,042

89,542

Directors' loan account

 

623

311

Other creditors

 

503

480

 

91,168

90,333

Due after one year

 

Loans and borrowings

8

173,700

173,700

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

173,700

173,700

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary share of £1 each

1

1

1

1

         
 

Beckford Properties Ltd

Notes to the Financial Statements for the Year Ended 30 April 2024

8

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Other borrowings

173,700

173,700

Other borrowings

Charter Court Financial Services Limited is denominated in GBP with a nominal interest rate of 3.69%, and the final instalment is due on 30 November 2047. The carrying amount at year end is £93,700 (2023 - £93,700).

The registered charge is a fixed charge over the property, 54 Richmond Terrace, Carmarthen, and this charge gives the lender a first-ranking claim on this property.

Charter Court Financial Services Limited is denominated in GBP with a nominal interest rate of 4.99%, and the final instalment is due on 1 March 2048. The carrying amount at year end is £80,000 (2023 - £80,000).

The registered charge is a fixed charge over the property, 49 Ross Avenue, Carmarthen, and this charge gives the lender a first-ranking claim on this property.

9

Related party transactions

Transactions with directors

2024

At 1 May 2023
£

Repayments by director
£

At 30 April 2024
£

Mr J O Thomas

Interest free loan repayable on demand

311

312

623

       
     

 

2023

At 1 May 2022
£

Repayments by director
£

At 30 April 2023
£

Mr J O Thomas

Interest free loan repayable on demand

-

311

311

       
     

 

Summary of transactions with other related parties

Siarp Limited is a related party to the company by virtue of common control. As at the balance sheet date, the company owes £90,042 to Beckford Properties Ltd.

These transactions have occurred in the ordinary course of business and at an arms length basis.