Company registration number 06753841 (England and Wales)
BERVILLE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
BERVILLE LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
BERVILLE LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
6
20,838
15,383
Investment property
7
13,282,424
13,282,424
Investments
8
2,774,541
4,506,239
16,077,803
17,804,046
Current assets
Debtors
9
199,661
156,400
Cash at bank and in hand
1,328,121
2,681,477
1,527,782
2,837,877
Creditors: amounts falling due within one year
10
(519,233)
(479,637)
Net current assets
1,008,549
2,358,240
Total assets less current liabilities
17,086,352
20,162,286
Creditors: amounts falling due after more than one year
11
(10,692,219)
(13,203,544)
Net assets
6,394,133
6,958,742
Capital and reserves
Called up share capital
12
1,000
1,000
Profit and loss reserves
6,393,133
6,957,742
Total equity
6,394,133
6,958,742
BERVILLE LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 2 -
For the financial year ended 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 of its financial statements for the year in question in accordance with section 476.
The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved and signed by the director and authorised for issue on 27 March 2025
Mr T J Duggan
Director
Company registration number 06753841 (England and Wales)
BERVILLE LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024
31 March 2024
- 3 -
1
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
2
Accounting policies
Company information
Berville Limited is a private company limited by shares incorporated in England and Wales. The registered office is 264 Banbury Road, Oxford, OX2 7DY.
2.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared on the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
2.2
Turnover
The turnover shown in the profit and loss account represents amounts invoiced, exclusive of Value Added Tax. Where payments are received from customers in advance of services provided, the amounts are recorded as Deferred Income and included as part of Creditors due within one year.
2.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures, fittings & equipment
10-25% straight line basis
Motor vehicles
20% straight line basis
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
BERVILLE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
2
Accounting policies
(Continued)
- 4 -
2.4
Investments
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
Listed investments are initially measured at cost and subsequently at their fair value at each reporting date. The movements in fair value are recognised in the profit and loss account.
The unlisted companies' investments are initially measured at cost and subsequently at either their fair value at each reporting date, if their fair value can be reliably measured, or at their historic cost less any accumulated impairments, if a reliable fair value valuation is not available. The movements in fair value and any impairments are all recognised in the profit and loss account.
2.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
2.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
BERVILLE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
4
4
Interest receivable and similar income
2024
2023
£
£
Other income from investments
Share of profit in limited liability partnership
219,758
Dividends received
108,500
Interest on bank deposits
518
332
Other interest income
98
Total income
616
328,590
5
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
185,284
168,764
Adjustments in respect of prior periods
(1,462)
Total current tax
183,822
168,764
Deferred tax
Origination and reversal of timing differences
4,265
(7,928)
Total tax charge
188,087
160,836
BERVILLE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
6
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023
1,885,241
Additions
9,108
At 31 March 2024
1,894,349
Depreciation and impairment
At 1 April 2023
1,869,858
Depreciation charged in the year
3,653
At 31 March 2024
1,873,511
Carrying amount
At 31 March 2024
20,838
At 31 March 2023
15,383
7
Investment property
2024
£
Fair value
At 1 April 2023 and 31 March 2024
13,282,424
The fair value of the investment property has been reviewed by the directors who consider that the carrying amount approximates to an open market value by reference to yields for similar properties.
8
Fixed asset investments
2024
2023
£
£
Listed investments
2,660,000
3,748,865
Unlisted investments
114,541
757,374
2,774,541
4,506,239
Al Rayan Bank Plc has a fixed charge over the 10,000 £0.001 Ordinary D shares held by Berville Limited in respect of 32/34 Eagle Wharf Road Limited.
BERVILLE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
8
Fixed asset investments
(Continued)
- 7 -
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 April 2023
4,506,239
Return of capital
(623,150)
At 31 March 2024
3,883,089
Impairment
At 1 April 2023
-
Impairment losses
950,465
Disposals
158,083
At 31 March 2024
1,108,548
Carrying amount
At 31 March 2024
2,774,541
At 31 March 2023
4,506,239
9
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
128,010
117,797
Other debtors
40,288
2,975
168,298
120,772
2024
2023
Amounts falling due after more than one year:
£
£
Deferred tax asset
31,363
35,628
Total debtors
199,661
156,400
BERVILLE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 8 -
10
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
12,104
1,062
Corporation tax
190,645
168,764
Other taxation and social security
43,994
54,897
Other creditors
272,490
254,914
519,233
479,637
11
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
10,692,219
13,203,544
Other creditors consist of loans from the shareholders which are interest free and are repayable subject to a minimum of 12 months notice. At the date of approval of these accounts, no repayment notices have been received from the lenders. As a result of the loan terms, amortised cost accounting has not been applied with respect to these loans.
12
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
1,000 Ordinary of £1 each
1,000
1,000
13
Related party transactions
Balances with related parties
The following amounts were outstanding at the reporting end date:
Amounts owed to
related parties
2024
2023
£
£
Director and shareholder
5,314,476
6,569,936
Shareholder
5,377,743
6,633,608
14
Controlling party
The company was under the operational control of the director throughout the current and previous period.