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REGISTERED NUMBER: 00518964 (England and Wales)















Bermas Limited

Unaudited Financial Statements for the Year Ended 31 March 2024






Bermas Limited (Registered number: 00518964)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Bermas Limited

Company Information
for the Year Ended 31 March 2024







Directors: Mr M B Plosker
Mrs R H Plosker





Registered office: 7 Neptune Court
Vanguard Way
Cardiff
CF24 5PJ





Registered number: 00518964 (England and Wales)





Accountants: Haines Watts Wales LLP
7 Neptune Court
Vanguard Way
Cardiff
CF24 5PJ

Bermas Limited (Registered number: 00518964)

Balance Sheet
31 March 2024

2024 2023
Notes £    £   
Fixed assets
Investment property 4 2,164,577 2,814,577

Current assets
Debtors 5 238,241 227,810
Investments 6 6,175 6,175
Cash at bank 31,370 38,152
275,786 272,137
Creditors
Amounts falling due within one year 7 (1,438,013 ) (1,458,648 )
Net current liabilities (1,162,227 ) (1,186,511 )
Total assets less current liabilities 1,002,350 1,628,066

Creditors
Amounts falling due after more than one year 8 (150,617 ) (165,228 )

Provisions for liabilities 10 (21,074 ) (21,074 )
Net assets 830,659 1,441,764

Capital and reserves
Called up share capital 79,964 79,964
Capital reserve - 362,232
Merger reserve 282,993 282,993
Retained earnings 467,702 716,575
Shareholders' funds 830,659 1,441,764

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 directors acknowledge their 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.

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 Board of Directors and authorised for issue on 17 January 2025 and were signed on its behalf by:





Mr M B Plosker - Director


Bermas Limited (Registered number: 00518964)

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

1. Statutory information

Bermas Limited 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover consists of income received from rental of investment properties.

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.

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.

Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short term liquid investments with original maturities of three months or less.

Debtors and creditors
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Current asset investments
Unlisted investments are shown at cost less impairment.

3. Employees and directors

The average number of employees during the year was 2 (2023 - 2 ) .

Bermas Limited (Registered number: 00518964)

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

4. Investment property
Total
£   
Fair value
At 1 April 2023 2,814,577
Disposals (650,000 )
At 31 March 2024 2,164,577
Net book value
At 31 March 2024 2,164,577
At 31 March 2023 2,814,577

5. Debtors: amounts falling due within one year
2024 2023
£    £   
Amounts owed by participating interests 1,424 1,994
Other debtors 89,758 70,005
Rental debtors 5,931 10,833
Directors' loan accounts 140,641 140,641
Prepayments 487 4,337
238,241 227,810

6. Current asset investments
2024 2023
£    £   
Unlisted investments 6,175 6,175

7. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts 8,969 33,191
Amounts owed to participating interests 1,290,887 1,290,887
Tax 9,885 14,926
Other creditors 49,371 50,000
Rents received in advance 13,026 14,316
Accrued expenses 65,875 55,328
1,438,013 1,458,648

8. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans - 1-2 years 8,969 18,890
Bank loans - 2-5 years 26,906 33,326
Bank loans more 5 yr by instal 114,742 113,012
150,617 165,228

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 114,742 113,012

Bermas Limited (Registered number: 00518964)

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

9. Secured debts

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 159,586 198,419

The bank loans are secured by fixed charges over certain of the company's investment properties.

10. Provisions for liabilities
2024 2023
£    £   
Deferred tax 21,074 21,074

Deferred
tax
£   
Balance at 1 April 2023 21,074
Balance at 31 March 2024 21,074

11. Directors' advances, credits and guarantees

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
Mr M B Plosker
Balance outstanding at start of year 114,240 114,240
Amounts advanced - 157,652
Amounts repaid - (157,652 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 114,240 114,240

Mrs R H Plosker
Balance outstanding at start of year 26,402 26,402
Amounts advanced - 26,844
Amounts repaid - (26,844 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 26,402 26,402