REGISTERED NUMBER: |
BEREKDAR DEVELOPMENTS LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
31 MARCH 2023 TO 31 MARCH 2024 |
REGISTERED NUMBER: |
BEREKDAR DEVELOPMENTS LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
31 MARCH 2023 TO 31 MARCH 2024 |
BEREKDAR DEVELOPMENTS LIMITED (REGISTERED NUMBER: 02362299) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 31 MARCH 2023 TO 31 MARCH 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 | to | 3 |
Notes to the Financial Statements | 4 | to | 7 |
Chartered Certified Accountants' Report | 8 |
BEREKDAR DEVELOPMENTS LIMITED |
COMPANY INFORMATION |
FOR THE PERIOD 31 MARCH 2023 TO 31 MARCH 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
Shelton House |
Coningsby Street |
Herefordshire |
HR1 2DY |
BEREKDAR DEVELOPMENTS LIMITED (REGISTERED NUMBER: 02362299) |
BALANCE SHEET |
31 MARCH 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Profit and loss reserve - non distributable | 8 |
Retained earnings |
SHAREHOLDERS' FUNDS |
BEREKDAR DEVELOPMENTS LIMITED (REGISTERED NUMBER: 02362299) |
BALANCE SHEET - continued |
31 MARCH 2024 |
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 were approved by the Board of Directors and authorised for issue on |
BEREKDAR DEVELOPMENTS LIMITED (REGISTERED NUMBER: 02362299) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 31 MARCH 2023 TO 31 MARCH 2024 |
1. | STATUTORY INFORMATION |
Berekdar Developments Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
These financial statements have been prepared in accordance with the 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 except for modification to a fair value basis for certain fixed assets, as specified in the accounting policies below. |
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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Turnover represents sales of residential properties constructed by the company, goods sold and services provided under building contracts with customers and rental and service charge income received or receivable by the company from leasing its investment properties. |
Where a service is incomplete at the period end, turnover represents the value of the service provided to that date based on an appropriate proportion of the total expected consideration at completion. |
Tangible fixed assets |
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. |
Depreciation is provided at the following annual rates in order to write off the cost of each asset less its estimated residual value over its estimated useful life. |
Plant and equipment | - 10% on reducing balance |
Computer equipment | - 20% on reducing balance |
Motor vehicles | - 25% on reducing balance |
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 |
Stocks and work in progress are valued at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items. |
Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads. |
Financial instruments |
Financial assets and financial liabilities are recognised on the balance sheet when the entity becomes party to the contractual provisions of the financial instrument. |
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 in administrative expenses. |
BEREKDAR DEVELOPMENTS LIMITED (REGISTERED NUMBER: 02362299) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 31 MARCH 2023 TO 31 MARCH 2024 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 period 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 period was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 31 March 2023 |
and 31 March 2024 |
DEPRECIATION |
At 31 March 2023 |
Charge for period |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 30 March 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 31 March 2023 |
and 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 30 March 2023 |
BEREKDAR DEVELOPMENTS LIMITED (REGISTERED NUMBER: 02362299) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 31 MARCH 2023 TO 31 MARCH 2024 |
5. | INVESTMENT PROPERTY - continued |
Investment properties were valued on an open market freehold basis on 31 March 2024 by a director of the company, based on a previous professional valuation deemed to still be appropriate. |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
8. | RESERVES |
Profit |
and loss |
reserve - |
non |
distributable |
£ |
At 31 March 2023 |
Transfer between reserves | (5,719 | ) |
At 31 March 2024 |
This non-distributable reserve relates to unrealised gains less attributable deferred tax, on investment properties carried at fair value, transferred from profit and loss reserve. |
9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the periods ended 31 March 2024 and 30 March 2023: |
2024 | 2023 |
£ | £ |
Balance outstanding at start of period |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of period |
BEREKDAR DEVELOPMENTS LIMITED (REGISTERED NUMBER: 02362299) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 31 MARCH 2023 TO 31 MARCH 2024 |
9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued |
These advances and credits were unsecured, repayable on demand with interest paid at the statutory rate. The above amounts represent an aggregate summary of all the amounts advanced to the director. |
CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
BEREKDAR DEVELOPMENTS LIMITED |
The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Profit and Loss Account and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Berekdar Developments Limited for the period ended 31 March 2024 which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook. |
This report is made solely to the Board of Directors of Berekdar Developments Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Berekdar Developments Limited and state those matters that we have agreed to state to the Board of Directors of Berekdar Developments Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at |
https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf. |
To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that Berekdar Developments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Berekdar Developments Limited. You consider that Berekdar Developments Limited is exempt from the statutory audit requirement for the period. |
We have not been instructed to carry out an audit or a review of the financial statements of Berekdar Developments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
Chartered Certified Accountants |
Shelton House |
Coningsby Street |
Herefordshire |
HR1 2DY |