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Registered number: 02671917
Bernard Construction Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 02671917
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investments 4 16,077,263 15,166,301
16,077,263 15,166,301
Creditors: Amounts Falling Due Within One Year 5 (314,873 ) (323,964 )
NET CURRENT ASSETS (LIABILITIES) (314,873 ) (323,964 )
TOTAL ASSETS LESS CURRENT LIABILITIES 15,762,390 14,842,337
Creditors: Amounts Falling Due After More Than One Year 6 (2 ) (2 )
NET ASSETS 15,762,388 14,842,335
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account 15,762,288 14,842,235
SHAREHOLDERS' FUNDS 15,762,388 14,842,335
For the 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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr D M Bernard
Director
20/12/2024
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Bernard Construction Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02671917 . The registered office is Warren Appartments , 8 A Station Rise, Tulse Hill, London, SE27 9BW.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover represents amounts receivable on the sale of completed units within a development. Cost of sales represents the proportion of development costs attributable to units sold.
2.3. 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.
2.4. Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.
2.5. Investments
Fixed asset investments are stated at cost less provision for diminution in value.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
4. Investments
Subsidiaries Other Total
£ £ £
Cost
As at 1 April 2023 2 15,166,299 15,166,301
Additions - 910,962 910,962
As at 31 March 2024 2 16,077,261 16,077,263
Provision
As at 1 April 2023 - - -
As at 31 March 2024 - - -
...CONTINUED
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Page 3
Net Book Value
As at 31 March 2024 2 16,077,261 16,077,263
As at 1 April 2023 2 15,166,299 15,166,301
The investments comprise of the company's investment in Bernard Construction UK LLP and Bernard Properties LLP.
During the year the company has introduced an amount of £407,478 (2023: £176,766) as capital in Bernard Construction UK LLP. The company has introduced £503,484 (2023: £239,729) as capital in Bernard Properties LLP, during the year.
Bernard Construction UK LLP and Bernard Properties LLP were incorporated on 14 November 2012 in England and Wales and operate wholly in the United Kingdom. The principal activity of these partnerships is property development and property investments respectively.
The aggregate amount of capital and reserves at 31 March 2024 and the results for the year are as follows:
Bernard Construction UK LLP
Aggregate capital and reserves as at 31 March 2024: £17,499,538. Profit for the year ended 31 March 2024: £806,703.
Bernard Properties LLP
Aggregate capital and reserves as at 31 March 2024: £11,070,291.  Profit for the year ended 31 March 2024: £486,482.
5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax 314,870 323,963
Other creditors 3 1
314,873 323,964
6. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Amounts owed to group undertakings 2 2
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
8. Ultimate Controlling Party
The controlling party is D M Bernard.
Page 3