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COMPANY REGISTRATION NUMBER: 8569562
Bedahm Properties Limited
Filleted Unaudited Financial Statements
30 June 2024
Bedahm Properties Limited
Financial Statements
Year ended 30 June 2024
Contents
Pages
Statement of financial position
1
Notes to the financial statements
2 to 4
Bedahm Properties Limited
Statement of Financial Position
30 June 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
287,339
172,390
Current assets
Cash at bank and in hand
3,375
2,971
Creditors: amounts falling due within one year
6
245,032
81,534
---------
--------
Net current liabilities
241,657
78,563
---------
---------
Total assets less current liabilities
45,682
93,827
Creditors: amounts falling due after more than one year
7
50,000
93,332
--------
--------
Net (liabilities)/assets
( 4,318)
495
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 4,418)
395
-------
----
Shareholders (deficit)/funds
( 4,318)
495
-------
----
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 30 June 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 .
These financial statements were approved by the board of directors and authorised for issue on 17 March 2025 , and are signed on behalf of the board by:
Mrs B D Maguire
Director
Company registration number: 8569562
Bedahm Properties Limited
Notes to the Financial Statements
Year ended 30 June 2024
1. General information
Bedahm Properties Limited is a private company limited by shares, registered in the United Kingdom number 8569562 . Its registered office is 1 Pavilion Square, Cricketers Way, Westhoughton, Bolton,BL5 3AJ. The principal activity of the company during the year was property management.
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.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Revenue is measured at the fair value of consideration receivable. Rental income is accrued by reference to the rental agreement.
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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
Equipment
-
25% reducing balance
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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4. Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2023: 2 ).
5. Tangible assets
Freehold property
Equipment
Total
£
£
£
Cost
At 1 July 2023
171,887
671
172,558
Additions
115,452
115,452
---------
----
---------
At 30 June 2024
287,339
671
288,010
---------
----
---------
Depreciation
At 1 July 2023
168
168
Charge for the year
503
503
---------
----
---------
At 30 June 2024
671
671
---------
----
---------
Carrying amount
At 30 June 2024
287,339
287,339
---------
----
---------
At 30 June 2023
171,887
503
172,390
---------
----
---------
Tangible assets held at valuation
The directors are of the opinion that the carrying value of the investment property is a fair reflection of its open market value at the year end.
6. Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
245,032
81,534
---------
--------
7. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
50,000
93,332
--------
--------
8. Related party transactions
The company was under the control of Mrs D Maguire and Mr A Maguire, the directors and shareholders, throughout the period. The company is in receipt of a loan from Bedahm Limited, a company under common control. The balance outstanding at the year end was £76,133 (2023: £76,133).