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REGISTERED NUMBER: 03045587 (England and Wales)















Unaudited Financial Statements for the Year Ended 29 February 2024

for

THE BEECHES WORTHING LIMITED

THE BEECHES WORTHING LIMITED (REGISTERED NUMBER: 03045587)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Abridged Balance Sheet 1

Notes to the Financial Statements 3


THE BEECHES WORTHING LIMITED (REGISTERED NUMBER: 03045587)

Abridged Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,620,598 3,646,955

CURRENT ASSETS
Debtors 178,556 537,355
Cash at bank and in hand 362,172 406,733
540,728 944,088
CREDITORS
Amounts falling due within one year 345,311 387,234
NET CURRENT ASSETS 195,417 556,854
TOTAL ASSETS LESS CURRENT LIABILITIES 3,816,015 4,203,809

CREDITORS
Amounts falling due after more than one year - (568,235 )

PROVISIONS FOR LIABILITIES (289,394 ) (224,454 )
NET ASSETS 3,526,621 3,411,120

CAPITAL AND RESERVES
Called up share capital 6 200 100
Share premium 1,137,902 1,137,902
Revaluation reserve 7 977,790 1,043,121
Retained earnings 1,410,729 1,229,997
SHAREHOLDERS' FUNDS 3,526,621 3,411,120

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

THE BEECHES WORTHING LIMITED (REGISTERED NUMBER: 03045587)

Abridged Balance Sheet - continued
29 February 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Income and Retained Earnings and an abridged Balance Sheet for the year ended 29 February 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 November 2024 and were signed on its behalf by:





N S Chahal - Director


THE BEECHES WORTHING LIMITED (REGISTERED NUMBER: 03045587)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

The Beeches Worthing Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 03045587

Registered office: Ridgefield
Winkfield Road
Ascot
SL5 7EX

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Freehold property held and used in the Company’s own activities are stated in the balance sheet at their revalued amounts. The revalued amounts equate to the fair value at the date of revaluation, less any depreciation or impairment losses subsequently accumulated. Revaluations are carried out regularly so that the carrying amounts do not materially differ from using the fair value at the date of the statement of financial position.

Any revaluation increase or decrease on freehold property is credited to the property revaluation reserve.

Once a revalued property is sold or retired, any attributable revaluation surplus that is remaining in the property revaluation reserve is transferred to retained earnings. No transfer is made from the revaluation reserve to retained earnings unless an asset is derecognised.

Other tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the following bases;

Fixtures and fittings25%Reducing balance
Plant and machinery25%Reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


THE BEECHES WORTHING LIMITED (REGISTERED NUMBER: 03045587)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 72 (2023 - 73 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST OR VALUATION
At 1 March 2023 3,859,203
Additions 501
At 29 February 2024 3,859,704
DEPRECIATION
At 1 March 2023 212,248
Charge for year 26,858
At 29 February 2024 239,106
NET BOOK VALUE
At 29 February 2024 3,620,598
At 28 February 2023 3,646,955

Cost or valuation at 29 February 2024 is represented by:

Totals
£   
Valuation in 2017 1,250,000
Cost 2,609,704
3,859,704

THE BEECHES WORTHING LIMITED (REGISTERED NUMBER: 03045587)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

5. LOANS

An analysis of the maturity of loans is given below:

29.2.24 28.2.23
£    £   
Amounts falling due within one year or on demand:
Bank loans - 66,566

Amounts falling due between two and five years:
Bank loans - 2-5 years - 568,235

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29.2.24 28.2.23
value: £    £   
200 Ordinary £1 200 100

7. RESERVES
Revaluation
reserve
£   
At 1 March 2023 1,043,121
Deferred tax on freehold
property (65,331 )

At 29 February 2024 977,790

Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.

8. OFF-BALANCE SHEET ARRANGEMENTS

National Westminster Bank PLC hold a fixed and floating charge over the company's assets in respect of a loan held within Beeches Worthing Holding Limited balance outstanding £1,324,041 (2023 - Nil).

9. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.