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COMPANY REGISTRATION NUMBER: 11941418
Berkeley Square Developments Real Estate Ltd
Filleted Unaudited Financial Statements
31 May 2024
Berkeley Square Developments Real Estate Ltd
Statement of Financial Position
31 May 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
2,258
23,484
Investments
6
300
300
-------
--------
2,558
23,784
Current assets
Debtors
7
77,241
2,378,579
Cash at bank and in hand
4,291
185,937
--------
------------
81,532
2,564,516
Creditors: amounts falling due within one year
8
13,739
626,153
--------
------------
Net current assets
67,793
1,938,363
--------
------------
Total assets less current liabilities
70,351
1,962,147
Provisions
565
5,871
--------
------------
Net assets
69,786
1,956,276
--------
------------
Capital and reserves
Called up share capital
100
100
Profit and loss account
69,686
1,956,176
--------
------------
Shareholders funds
69,786
1,956,276
--------
------------
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 income and retained earnings has not been delivered.
For the year ending 31 May 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 .
Berkeley Square Developments Real Estate Ltd
Statement of Financial Position (continued)
31 May 2024
These financial statements were approved by the board of directors and authorised for issue on 26 February 2025 , and are signed on behalf of the board by:
J R Carkeet
Director
Company registration number: 11941418
Berkeley Square Developments Real Estate Ltd
Notes to the Financial Statements
Year ended 31 May 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 Suite 3, Bignell Park Barns, Chesterton, Bicester, Oxon, OX26 1TD.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
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:
Motor vehicles
-
25% reducing balance
Equipment
-
20% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Impairment of fixed assets
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.
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 as a finance cost 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 2 (2023: 2 ).
5. Tangible assets
Motor vehicles
Equipment
Total
£
£
£
Cost
At 1 June 2023
50,340
11,752
62,092
Disposals
( 50,340)
( 50,340)
--------
--------
--------
At 31 May 2024
11,752
11,752
--------
--------
--------
Depreciation
At 1 June 2023
31,461
7,147
38,608
Charge for the year
2,347
2,347
Disposals
( 31,461)
( 31,461)
--------
--------
--------
At 31 May 2024
9,494
9,494
--------
--------
--------
Carrying amount
At 31 May 2024
2,258
2,258
--------
--------
--------
At 31 May 2023
18,879
4,605
23,484
--------
--------
--------
6. Investments
Shares in participating interests
£
Cost
At 1 June 2023 and 31 May 2024
300
----
Impairment
At 1 June 2023 and 31 May 2024
----
Carrying amount
At 31 May 2024
300
----
At 31 May 2023
300
----
7. Debtors
2024
2023
£
£
Trade debtors
1,573,640
Other debtors
77,241
804,939
--------
------------
77,241
2,378,579
--------
------------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
1,010
252,731
Social security and other taxes
35,090
Associated company loans
7,500
130,000
Other creditors
5,229
208,332
--------
---------
13,739
626,153
--------
---------
9. 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 outstanding
£
£
£
J R Carkeet
( 78)
( 2,130)
( 2,208)
A C Gavin
( 70)
( 70)
----
-------
-------
( 148)
( 2,130)
( 2,278)
----
-------
-------
2023
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
J R Carkeet
( 78)
( 78)
A C Gavin
( 70)
( 70)
----
----
----
( 148)
( 148)
----
----
----