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REGISTERED NUMBER: 13751357 (England and Wales)















BEAR ASSET COMMERCIAL LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






BEAR ASSET COMMERCIAL LTD (REGISTERED NUMBER: 13751357)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BEAR ASSET COMMERCIAL LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: K P Carpenter





REGISTERED OFFICE: 7 Tileyard North
Wakefield
WF1 5FY





REGISTERED NUMBER: 13751357 (England and Wales)





ACCOUNTANTS: DSC
Chartered Accountants
Tattersall House
East Parade
Harrogate
North Yorkshire
HG1 5LT

BEAR ASSET COMMERCIAL LTD (REGISTERED NUMBER: 13751357)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 650,000 205,000

CURRENT ASSETS
Stocks - 580,739
Debtors 5 89,182 8,702
Cash at bank 16,479 57,350
105,661 646,791
CREDITORS
Amounts falling due within one year 6 208,721 865,690
NET CURRENT LIABILITIES (103,060 ) (218,899 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

546,940

(13,899

)

CREDITORS
Amounts falling due after more than one year 7 (450,000 ) -

PROVISIONS FOR LIABILITIES (89,318 ) -

ACCRUALS AND DEFERRED INCOME (10,732 ) (1,500 )
NET LIABILITIES (3,110 ) (15,399 )

CAPITAL AND RESERVES
Called up share capital 100 100
Non distributable reserve 8 267,954 -
Retained earnings (271,164 ) (15,499 )
(3,110 ) (15,399 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

BEAR ASSET COMMERCIAL LTD (REGISTERED NUMBER: 13751357)

BALANCE SHEET - continued
31 MARCH 2024


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 9 September 2024 and were signed by:





K P Carpenter - Director


BEAR ASSET COMMERCIAL LTD (REGISTERED NUMBER: 13751357)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Bear Asset Commercial Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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 NIL (2023 - NIL).

BEAR ASSET COMMERCIAL LTD (REGISTERED NUMBER: 13751357)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 205,000
Additions 87,728
Revaluations 357,272
At 31 March 2024 650,000
NET BOOK VALUE
At 31 March 2024 650,000
At 31 March 2023 205,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2024 357,272
Cost 292,728
650,000

Investment property was valued on an open market basis on 31 March 2024 by VAS Valuation Group .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,046 -
Amounts owed by group undertakings 82,923 -
Other debtors 4,213 8,702
89,182 8,702

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 7,588 -
Amounts owed to group undertakings - 84,900
Taxation and social security 1,133 3,401
Other creditors 200,000 777,389
208,721 865,690

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 450,000 -

BEAR ASSET COMMERCIAL LTD (REGISTERED NUMBER: 13751357)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

8. RESERVES
Non
distributable
reserve
£   
Revaluation 357,272
Deferred tax (89,318 )

At 31 March 2024 267,954