Registered number
14233051
Be Squared Developments Ltd.
Filleted Accounts
31 March 2024
Be Squared Developments Ltd.
Registered number: 14233051
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 422,920 222,221
Current assets
Debtors 4 1,770 -
Cash at bank and in hand 1,813 42,460
3,583 42,460
Creditors: amounts falling due within one year 5 (67,395) (152,638)
Net current liabilities (63,812) (110,178)
Total assets less current liabilities 359,108 112,043
Creditors: amounts falling due after more than one year 6 (290,089) (120,224)
Provisions for liabilities (22,435) -
Net assets/(liabilities) 46,584 (8,181)
Capital and reserves
Share premium 100 100
Revaluation reserve 7 95,644 -
Profit and loss account (49,160) (8,281)
Shareholders' funds 46,584 (8,181)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Peter Bowie
Director
Approved by the board on 10 September 2024
Be Squared Developments Ltd.
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Investment Property
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 April 2023 222,221 - 222,221
Additions 59,700 26,965 86,665
Surplus on revaluation 118,079 - 118,079
At 31 March 2024 400,000 26,965 426,965
Depreciation
Charge for the year - 4,045 4,045
At 31 March 2024 - 4,045 4,045
Net book value
At 31 March 2024 400,000 22,920 422,920
At 31 March 2023 222,221 - 222,221
4 Debtors 2024 2023
£ £
Trade debtors 1,770 -
5 Creditors: amounts falling due within one year 2024 2023
£ £
Mortgage - 151,138
Trade creditors 2,395 1,500
Amounts owed to group undertakings and undertakings in which the company has a participating interest 65,000 -
67,395 152,638
6 Creditors: amounts falling due after one year 2024 2023
£ £
Director loan accounts 290,089 120,224
7 Revaluation reserve 2024 2023
£ £
Gain on revaluation of land and buildings 118,079 -
Deferred taxation arising on the revaluation of land and buildings (22,435) -
At 31 March 2024 95,644 -
8 Other information
Be Squared Developments Ltd. is a private company limited by shares and incorporated in England. Its registered office is:
16 Craster Point
Seaham
Co. Durham
SR7 7WW
Be Squared Developments Ltd. 14233051 false 2023-04-01 2024-03-31 2024-03-31 VT Final Accounts July 2024 Peter Bowie No description of principal activity 14233051 2022-07-13 2023-03-31 14233051 core:RevaluationReserve core:LandBuildings 2022-07-13 2023-03-31 14233051 core:RevaluationReserve 2022-07-13 2023-03-31 14233051 core:WithinOneYear 2023-03-31 14233051 core:AfterOneYear 2023-03-31 14233051 core:SharePremium 2023-03-31 14233051 core:OtherReservesSubtotal 2023-03-31 14233051 core:RetainedEarningsAccumulatedLosses 2023-03-31 14233051 core:RevaluationReserve 2023-03-31 14233051 2023-04-01 2024-03-31 14233051 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 14233051 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 14233051 bus:Director40 2023-04-01 2024-03-31 14233051 2 2023-04-01 2024-03-31 14233051 core:LandBuildings 2023-04-01 2024-03-31 14233051 core:PlantMachinery 2023-04-01 2024-03-31 14233051 core:RevaluationReserve core:LandBuildings 2023-04-01 2024-03-31 14233051 core:RevaluationReserve 2023-04-01 2024-03-31 14233051 countries:England 2023-04-01 2024-03-31 14233051 bus:FRS102 2023-04-01 2024-03-31 14233051 bus:FilletedAccounts 2023-04-01 2024-03-31 14233051 2024-03-31 14233051 core:WithinOneYear 2024-03-31 14233051 core:AfterOneYear 2024-03-31 14233051 core:SharePremium 2024-03-31 14233051 core:OtherReservesSubtotal 2024-03-31 14233051 core:RetainedEarningsAccumulatedLosses 2024-03-31 14233051 core:LandBuildings 2024-03-31 14233051 core:PlantMachinery 2024-03-31 14233051 core:RevaluationReserve 2024-03-31 14233051 2023-03-31 14233051 core:LandBuildings 2023-03-31 14233051 core:PlantMachinery 2023-03-31 iso4217:GBP xbrli:pure