Registered number
07102297
Berman Wells Limited
Filleted Accounts
31 December 2024
Berman Wells Limited
Registered number: 07102297
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Investments 3 760,000 760,000
Current assets
Cash at bank and in hand 17,326 58,270
Creditors: amounts falling due within one year 4 (8,537) (69,013)
Net current assets/(liabilities) 8,789 (10,743)
Net assets 768,789 749,257
Capital and reserves
Called up share capital 9,601 9,601
Share premium 440,400 440,400
Revaluation reserve 5 104,019 104,019
Profit and loss account 214,769 195,237
Shareholders' funds 768,789 749,257
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
G B Berman
Director
Approved by the board on 20 March 2025
Berman Wells Limited
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover represents rent receivable from letting properties.
Investments
Investments in residential properties and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Investments
Other
investments
£
Fair value
At 1 January 2024 760,000
At 31 December 2024 760,000
The figure shown above is the cost plus revaluations made in 2013 and 2017. In the opinion of the Directors the market value of the investment properties is in the region of £800,000. This was not a professional valuation and the increase in value is not reflected in the accounts.
4 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 4,572 4,679
Other creditors 3,965 64,334
8,537 69,013
Included in other creditors above is a loan of £3,965 (2023 - £22,333) from,
G B Berman, a company director.
5 Revaluation reserve 2024 2023
£ £
At 1 January 2024 104,019 104,019
At 31 December 2024 104,019 104,019
6 Other information
Berman Wells Limited is a private company limited by shares and incorporated in England. Its registered office is:
Berman Wells Limited
Ridgeway Consulting
2 Hinksey Court,
Church Way, Botley, Oxford
OX2 9SX
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