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Registered number :313449162









BEALE RESIDENTIAL LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

 
BEALE RESIDENTIAL LIMITED
REGISTERED NUMBER: 13449162

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
                                                                         Note
£
£

Fixed assets
  

Tangible assets
 4 
8,358
10,803

Investment property
 5 
2,455,826
2,453,286

  
2,464,184
2,464,089

Current assets
  

Debtors: amounts falling due within one year
 6 
455,971
23,173

Cash at bank and in hand
 7 
20,588
419,250

  
476,559
442,423

Creditors: amounts falling due within one year
 8 
(35,484)
(57,914)

Net current assets
  
 
 
441,075
 
 
384,509

Total assets less current liabilities
  
2,905,259
2,848,598

Creditors: amounts falling due after more than one year
 9 
(2,915,985)
(2,908,673)

  

Net liabilities
  
(10,726)
(60,075)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(10,826)
(60,175)

  
(10,726)
(60,075)


Page 1

 
BEALE RESIDENTIAL LIMITED
REGISTERED NUMBER: 13449162
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 March 2025.




D C Beale
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
BEALE RESIDENTIAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Beale Residential Limited ("the Company") is a private company limited by shares and incorporated in England and Wales. The address of its registered office is Unit 22 Park Lane Business Centre, Nottingham, NG6 0DW.
The principal activity of the company is that of property investment.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the
Company and the revenue can be reliably measured.

Rental income
Revenue principally comprises of income generated by the company in respect of rent charged during the period, exclusive of value added tax and trade discounts. Rental income is recognised on a straight line basis over the term of the lease. Amounts invoiced in advance are deferred accordingly and recognised in the period to which they relate.

 
2.3

Borrowing costs

All borrowing costs are recognised in the Statement of comprehensive income in the year in which they are incurred.

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
BEALE RESIDENTIAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)


2.5
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Investment property

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of comprehensive income.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition offinancial assets and liabilities like trade and other debtors and creditors, loans from banks and otherthird parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 4

 
BEALE RESIDENTIAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 July 2023
12,224



At 30 June 2024

12,224



Depreciation


At 1 July 2023
1,421


Charge for the year on owned assets
2,445



At 30 June 2024

3,866



Net book value



At 30 June 2024
8,358



At 30 June 2023
10,803


5.


Investment property


Freehold investment properties

£



Valuation


At 1 July 2023
2,453,286


Additions at cost
2,540



At 30 June 2024
2,455,826

The 2024 valuations were made by the directors, on an open market value for existing use basis. No depreciation is charged against this asset class which has a historical costs of £2,455,826 (2023 £2,453,286) at the period end.






Page 5

 
BEALE RESIDENTIAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

6.


Debtors

2024
2023
£
£


Trade debtors
6,342
4,110

Amounts owed by group undertakings
431,528
1,659

Other debtors
14,725
12,285

Prepayments and accrued income
3,376
5,119

455,971
23,173



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
20,588
419,250



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
7,910
9,642

Corporation tax
-
437

Other creditors
15,635
12,620

Accruals and deferred income
11,939
35,215

35,484
57,914



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
1,808,450
1,808,450

Amounts owed to related undertakings
1,107,535
1,100,223

2,915,985
2,908,673


Amounts owed to related undertakings are repayable on demand and do not accrue interest.
The bank loans are secured over the properties they relate to.

Page 6

 
BEALE RESIDENTIAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£




Amounts falling due after more than 5 years

Bank loans
1,808,450
1,808,450



11.


Related party transactions

Included within creditors due more than one year is amount of £1,107,535 (2023: £1,110,223) due to a company under common control.
Included within debtors is amount of £431,528 (
2023: £1,659) due from a company under common control.



12.


Controlling party

The controlling party of the company is D C Beale by virtue of his 100% shareholding.
 
Page 7