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BEMBRIDGE RESIDENTIAL LIMITED

Registered Number
10626051
(England and Wales)

Unaudited Financial Statements for the Year ended
29 February 2024

BEMBRIDGE RESIDENTIAL LIMITED
Company Information
for the year from 1 March 2023 to 29 February 2024

Directors

BOLDURMAZ, Clare
BOLDURMAZ, Recep

Registered Address

12 St. Peters Way
Edgmond
Newport
TF10 8LQ

Registered Number

10626051 (England and Wales)
BEMBRIDGE RESIDENTIAL LIMITED
Statement of Financial Position
29 February 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3216432
Investment property4180,000180,000
180,216180,432
Current assets
Cash at bank and on hand-173
-173
Creditors amounts falling due within one year5(12,768)(25,262)
Net current assets (liabilities)(12,768)(25,089)
Total assets less current liabilities167,448155,343
Creditors amounts falling due after one year6(117,086)(101,826)
Provisions for liabilities8(8,403)(8,403)
Net assets41,95945,114
Capital and reserves
Called up share capital100100
Revaluation reserve39,14639,146
Profit and loss account2,7135,868
Shareholders' funds941,95945,114
The financial statements were approved and authorised for issue by the Board of Directors on 25 November 2024, and are signed on its behalf by:
BOLDURMAZ, Clare
Director
Registered Company No. 10626051
BEMBRIDGE RESIDENTIAL LIMITED
Notes to the Financial Statements
for the year ended 29 February 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
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.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Fixtures and fittings3
Investment property
The investment property is accounted for under FRS 102, Section 16 Investment Property. Investment property is remeasured to fair value at each balance sheet date with fair value gains and losses being reported in profit or loss. Investment properties are valued using RICS open market valuation on a freehold basis.
2.Average number of employees

20242023
Average number of employees during the year10
3.Tangible fixed assets

Fixtures & fittings

Total

££
Cost or valuation
At 01 March 23648648
At 29 February 24648648
Depreciation and impairment
At 01 March 23216216
Charge for year216216
At 29 February 24432432
Net book value
At 29 February 24216216
At 28 February 23432432
4.Investment property
The directors have considered the fair value at the reporting date of the investment property and it has been valued on the following basis: The estimated amount for which an asset or liability should exchange on the valuation date between a willing buyer and a willing seller in an arms length transaction, after proper marketing and where the parties had each acted knowledgeably, prudently and without compulsion.

£
Fair value at 01 March 23180,000
At 29 February 24180,000
5.Creditors: amounts due within one year

2024

2023

££
Bank borrowings and overdrafts10-
Other creditors12,75825,262
Total12,76825,262
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts117,086101,826
Total117,086101,826
7.Secured creditors
The following secured debts are included within creditors: £117,086 Bank Loan. The loan is secured on investment property.
8.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)8,4038,403
Total8,4038,403
9.Fair value reserve
Deferred tax of £8,403 has been debited to the fair value reserve.

£
Fair value reserve at 01 March 2339,146
At 29 February 2439,146