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Company registration number: 01375893
Betshaw Limited
Unaudited filleted financial statements
31 March 2024
Betshaw Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Betshaw Limited
Directors and other information
Directors A R Walker
J R Shah
Secretary A R Walker
Company number 01375893
Registered office Bramlea, Drury Lane
Pannal
Harrogate
North Yorkshire
HG3 1ET
Accountants SMH Howard Matthews Ltd
Queensgate House
23 North Park Road
Harrogate
North Yorkshire
HG1 5PD
Betshaw Limited
Statement of financial position
31 March 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 790,202 790,000
_______ _______
790,202 790,000
Current assets
Debtors 6 1,676 219
Cash at bank and in hand 37,476 46,722
_______ _______
39,152 46,941
Creditors: amounts falling due
within one year 7 ( 2,069) ( 6,443)
_______ _______
Net current assets 37,083 40,498
_______ _______
Total assets less current liabilities 827,285 830,498
Provisions for liabilities ( 131,856) ( 146,530)
_______ _______
Net assets 695,429 683,968
_______ _______
Capital and reserves
Called up share capital 100 100
Fair value reserve 639,355 689,511
Profit and loss account 55,974 ( 5,643)
_______ _______
Shareholders funds 695,429 683,968
_______ _______
For the year ending 31 March 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 05 November 2024 , and are signed on behalf of the board by:
A R Walker
Director
Company registration number: 01375893
Betshaw Limited
Notes to the financial statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Bramlea, Drury Lane, Pannal, Harrogate, North Yorkshire, HG3 1ET.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is the rental income receivable.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Freehold property is carried at revalued amounts and recorded at the fair value. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Computer equipment - 25 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
4. Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2023: 2 ).
5. Tangible assets
Freehold property Computer equipment Total
£ £ £
Cost
At 1 April 2023 790,000 8,351 798,351
Additions - 270 270
_______ _______ _______
At 31 March 2024 790,000 8,621 798,621
_______ _______ _______
Depreciation
At 1 April 2023 - 8,351 8,351
Charge for the year - 68 68
_______ _______ _______
At 31 March 2024 - 8,419 8,419
_______ _______ _______
Carrying amount
At 31 March 2024 790,000 202 790,202
_______ _______ _______
At 31 March 2023 790,000 - 790,000
_______ _______ _______
6. Debtors
2024 2023
£ £
Trade debtors 792 -
Other debtors 884 219
_______ _______
1,676 219
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Corporation tax 137 2,890
Other creditors 1,932 3,553
_______ _______
2,069 6,443
_______ _______
8. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
A R Walker ( 1,973) 1,553 ( 420)
_______ _______ _______
2023
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
A R Walker 6,326 ( 8,299) ( 1,973)
_______ _______ _______