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Registration number: 12848314

Berks Properties Ltd

Filleted Financial Statements

for the Year Ended 30 November 2023

 

Berks Properties Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 5

 

Berks Properties Ltd

Company Information

Directors

Mr M U Ali

Mr MS Ali

Registered office

Unit 8
Elderway Waterside Drive
Langley
Slough
Uxbridge
SL3 6EP

Auditors

Sterling Grove Accountants Limited
Fawley House
2 Regatta Place
Marlow Road
Bourne End
Buckinghamshire
SL8 5TD

 

Berks Properties Ltd

(Registration number: 12848314)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

588,286

588,286

Current assets

 

Debtors

5

110,210

76,326

Creditors: Amounts falling due within one year

6

(634,102)

(614,489)

Net current liabilities

 

(523,892)

(538,163)

Net assets

 

64,394

50,123

Capital and reserves

 

Called up share capital

100

100

Retained earnings

64,294

50,023

Shareholders' funds

 

64,394

50,123

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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 18 November 2024 and signed on its behalf by:
 

.........................................
Mr MS Ali
Director

 

Berks Properties Ltd

Notes to the Financial Statements for the Year Ended 30 November 2023

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:
Unit 8
Elderway Waterside Drive
Langley
Slough
Uxbridge
SL3 6EP
England

These financial statements were authorised for issue by the Board on 18 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.

Audit report

The Independent Auditor's Report was unqualified. . The name of the Senior Statutory Auditor who signed the audit report on 18 November 2024 was Gino Amasanti, who signed for and on behalf of Sterling Grove Accountants Limited.

.........................................

Revenue recognition

Turnover is recognised at the fair value of the rent receivable in the normal course of business and is shown net of VAT .

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Berks Properties Ltd

Notes to the Financial Statements for the Year Ended 30 November 2023

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable properties determined annually by the directors. There has been no independent valation of investment property this year. The directors 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 the profit and loss account.

Trade 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.

Trade 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.

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 (2022 - 2).

4

Investment properties

2023
£

At 1 December

588,286

At 30 November

588,286

Investment property was valued by the directors on 30 November 2023 using the comparative method of valuation. There has been no independent valuation of investment property this year.

 

Berks Properties Ltd

Notes to the Financial Statements for the Year Ended 30 November 2023

5

Debtors

Current

Note

2023
£

2022
£

Amounts owed by group companies

7

104,430

71,238

Prepayments

 

5,780

5,088

   

110,210

76,326

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

1,228

1,594

Amounts owed to group companies

7

619,602

603,189

Taxation and social security

 

8,120

4,588

Accruals and deferred income

 

5,152

5,118

 

634,102

614,489

7

Related party transactions

The company is a wholly owned subsidiary of a group that prepares publicy available consolidated financial statements, namely the group headed by Berks US Holdings Ltd, so it has taken advantage of exemptions available under Section 33.7 of the Financial Reporting Standard 102 to disclose related party transactions entered into between two or more members of a group.

8

Parent and ultimate parent undertaking

The company's immediate parent is Berks US Holdings Ltd, incorporated in England and Wales.

 The most senior parent entity producing publicly available financial statements is Berks US Holdings Ltd. These financial statements are available upon request from Albion House, Albion Close, Slough, Berkshire, SL2 5DT, England.