Company Registration No. 10236571 (England and Wales)
Project Beckenham Limited
Unaudited accounts
for the year ended 31 March 2024
Project Beckenham Limited
Unaudited accounts
Contents
Project Beckenham Limited
Company Information
for the year ended 31 March 2024
Director
Gary Steven Cottle
Company Number
10236571 (England and Wales)
Registered Office
High Tong Marle Place Road
Brenchley
Tonbridge
Kent
TN12 7HS
Accountants
Accounts and Legal Consultants Ltd
Suite 1-3, The Hop Exchange
24 Southwark Street
London
SE1 1TY
Project Beckenham Limited
Accountants' report
Accountants' report to the director of Project Beckenham Limited on the preparation of the unaudited statutory accounts for the year ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Project Beckenham Limited for the year ended
31 March 2024 as set out on pages
5 -
8 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Project Beckenham Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Project Beckenham Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Project Beckenham Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Project Beckenham Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Project Beckenham Limited. You consider that Project Beckenham Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Project Beckenham 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 accounts.
Accounts and Legal Consultants Ltd
Suite 1-3, The Hop Exchange
24 Southwark Street
London
SE1 1TY
24 March 2025
Project Beckenham Limited
Statement of financial position
as at 31 March 2024
Inventories
4,682,089
4,830,084
Debtors
1,077,849
1,043,249
Cash at bank and in hand
836
88,027
Creditors: amounts falling due within one year
(2,441,900)
(1,959,239)
Net current assets
3,318,874
4,002,121
Total assets less current liabilities
3,319,645
4,003,149
Creditors: amounts falling due after more than one year
(4,723,133)
(5,649,150)
Net liabilities
(1,403,488)
(1,646,001)
Called up share capital
100
100
Profit and loss account
(1,403,588)
(1,646,101)
Shareholders' funds
(1,403,488)
(1,646,001)
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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 24 March 2025 and were signed on its behalf by
Gary Steven Cottle
Director
Company Registration No. 10236571
Project Beckenham Limited
Notes to the Accounts
for the year ended 31 March 2024
Project Beckenham Limited is a private company, limited by shares, registered in England and Wales, registration number 10236571. The registered office is High Tong Marle Place Road, Brenchley, Tonbridge, Kent, TN12 7HS.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
The accounts are presented in £ sterling.
London Borough of Bromley - 63 copers cope road, bromley BR3 1NJ. Contains negative pledge.
The company has net liabilities at balance sheet date. The accounts have been prepared on a going concern basis as it is expected that the redevelopment and sale of the property will result in gains for the company. The director of the company has confirmed that properties have been sold in the year to 31 March 2024.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% Reducing Balance
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Project Beckenham Limited
Notes to the Accounts
for the year ended 31 March 2024
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.
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
4
Tangible fixed assets
Fixtures & fittings
Project Beckenham Limited
Notes to the Accounts
for the year ended 31 March 2024
Amounts falling due within one year
Amounts falling due after more than one year
Amounts due from group undertakings etc.
1,080,517
1,051,047
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
10,000
10,000
Loans from directors
2,285,425
1,939,048
Deferred income
8,476
10,191
7
Creditors: amounts falling due after more than one year
2024
2023
Other creditors
4,708,289
5,627,483
8
Transactions with related parties
AGC Property Ltd - is related by common ownership, Project Beckenham Limited is due £394,404.68 (2023: £351,534.68). The loan is repayable on demand and is non-interest bearing.
AGC Property Limited , High Tong, Marle Place Road Brenchley, Tonbridge, Kent, TN12 7HS
10
Average number of employees
During the year the average number of employees was 0 (2023: 0).