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REGISTERED NUMBER: 11983014 (England and Wales)















Financial Statements for the Year Ended 31 March 2024

for

Bears Property Limited

Bears Property Limited (Registered number: 11983014)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Balance Sheet 1

Notes to the Financial Statements 2


Bears Property Limited (Registered number: 11983014)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 3,310,069 2,560,479

CURRENT ASSETS
Cash at bank 183,768 98,076

CREDITORS
Amounts falling due within one year 5 1,458,118 660,813
NET CURRENT LIABILITIES (1,274,350 ) (562,737 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,035,719

1,997,742

CAPITAL AND RESERVES
Called up share capital 6 1 1
Retained earnings 2,035,718 1,997,741
SHAREHOLDERS' FUNDS 2,035,719 1,997,742

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

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

The financial statements were approved by the director and authorised for issue on 28 November 2024 and were signed by:





M A Hashim - Director


Bears Property Limited (Registered number: 11983014)

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

1. STATUTORY INFORMATION

Bears Property 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: 11983014

Registered office: Primera Accountants Limited
First Floor SpitalFields House
Stirling Way
Borehamwood
WD6 2FX

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Company information
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.

Turnover
Turnover is recognised at the fair value of rental received or receivable and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account any discounts.

Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Bears Property Limited (Registered number: 11983014)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset , with the net amounts presented in the financial statements , when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors , bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


Bears Property Limited (Registered number: 11983014)

Notes to the Financial Statements - continued
for the Year Ended 31 March 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 2,560,479
Additions 749,590
At 31 March 2024 3,310,069
NET BOOK VALUE
At 31 March 2024 3,310,069
At 31 March 2023 2,560,479

The fair value of the investment properties has been arrived at on the basis of a valuation carried out at 31 March 2024 by the Director. The valuation was made on an open market value basis by reference to rental yields and market conditions.

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Amounts owed to group undertakings 1,359,963 660,813
Taxation and social security 10,017 -
Other creditors 88,138 -
1,458,118 660,813

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
1 Called up share capital £1 1 1

Bears Property Limited (Registered number: 11983014)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Sadikali Premji FCCA (Senior Statutory Auditor)
for and on behalf of TC Group

8. RELATED PARTY DISCLOSURES

The company has taken advantage of FRS 102, Section 33.1A, for the disclosure of transactions entered into between two or more members of a group, provided that any subsidiary which is party to the transaction is wholly owned by such a member.

Amounts owed to and from group companies are therefore shown in aggregate.

Included in creditors is an amount of £1,359,963 (2023: £660,813) owed to parent entity.

Included within rental income is an amount of £52,800 (2023: £52,800) charged to the related parties. The rental charged was at arms length.

9. CONTROLLING PARTY

The ultimate parent company is Bears Ambulance Service Limited, incorporated in England & Wales.

The ultimate controlling party is the director by virtue of holding majority of issued share capital in the parent undertaking.