Beta Property Management Limited 09318551 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is that of property rental. Digita Accounts Production Advanced 6.30.9574.0 true 09318551 2023-04-01 2024-03-31 09318551 2024-03-31 09318551 core:RetainedEarningsAccumulatedLosses 2024-03-31 09318551 core:ShareCapital 2024-03-31 09318551 core:CurrentFinancialInstruments 2024-03-31 09318551 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 09318551 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 09318551 core:MoreThanFiveYears 1 2024-03-31 09318551 bus:SmallEntities 2023-04-01 2024-03-31 09318551 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 09318551 bus:FilletedAccounts 2023-04-01 2024-03-31 09318551 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 09318551 bus:RegisteredOffice 2023-04-01 2024-03-31 09318551 bus:Director2 2023-04-01 2024-03-31 09318551 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09318551 countries:EnglandWales 2023-04-01 2024-03-31 09318551 2023-03-31 09318551 2022-04-01 2023-03-31 09318551 2023-03-31 09318551 core:RetainedEarningsAccumulatedLosses 2023-03-31 09318551 core:ShareCapital 2023-03-31 09318551 core:CurrentFinancialInstruments 2023-03-31 09318551 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 09318551 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 09318551 core:MoreThanFiveYears 1 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 09318551


Beta Property Management Limited

Directors' Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Beta Property Management Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 6

 

Beta Property Management Limited

Company Information

Director

Mr V Subramanian

Registered office

60 Snow Hill
Stoke on Trent
Staffordshire
ST1 4LY

Accountants

Howsons
Chartered Accountants
Winton House
Stoke Road
Stoke on Trent
Staffordshire
ST4 2RW

 

Beta Property Management Limited

(Registration number: 09318551)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

178,000

178,000

Current assets

 

Debtors

5

850

-

Cash at bank and in hand

 

1

395

 

851

395

Creditors: Amounts falling due within one year

6

(85,952)

(83,186)

Net current liabilities

 

(85,101)

(82,791)

Total assets less current liabilities

 

92,899

95,209

Creditors: Amounts falling due after more than one year

6

(79,913)

(85,508)

Net assets

 

12,986

9,701

Capital and reserves

 

Called up share capital

3

3

Retained earnings

12,983

9,698

Shareholders' funds

 

12,986

9,701

For the financial 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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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 and in accordance with the provisions of Financial Reporting Standard 102 (FRS 102) Section 1A - small entities.

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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 1 December 2024
 

 

Beta Property Management Limited

(Registration number: 09318551)
Balance Sheet as at 31 March 2024

.........................................
Mr V Subramanian
Director

 

Beta Property Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

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:
60 Snow Hill
Stoke on Trent
Staffordshire
ST1 4LY

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

The company's presentational currency is pound sterling (£). The accounts are rounded to the nearest whole pound.

Revenue recognition

Turnover represents amounts chargeable in respect of rent charged to tenants.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the director. The director uses 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 profit or loss.

 

Beta Property Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Financial instruments

Classification
Basic financial assets, including trade and other debtors, cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Such assets are subsequently carried at amortised cost using the effective interest method.
Basic financial liabilities, including trade and other trade creditors, bank and other loans, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

 Recognition and measurement
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit and loss.

 Impairment
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised in the profit or loss.

Financial assets are derecognised when a) the contractual rights to the cash flows from the asset expire or are settled, or b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Beta Property Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Investment properties

2024
£

At 1 April 2023 and 31 March 2024

178,000

There has been no valuation of investment property by an independent valuer.

5

Debtors

2024
£

2023
£

Trade debtors

850

-

850

-

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

5,595

5,275

Other creditors

 

1,445

2,888

Directors' loan account

 

78,912

75,023

 

85,952

83,186

Due after one year

 

Loans and borrowings

79,913

85,508

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

79,913

85,508

2024
£

2023
£

After more than five years by instalments

53,927

61,008