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Registration number: 10851314

Best Property Holdings Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2024

 

Best Property Holdings Limited

(Registration number: 10851314)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

2,248

2,369

Investment property

5

11,441,881

11,329,147

 

11,444,129

11,331,516

Current assets

 

Debtors

6

7,134

4,770

Cash at bank and in hand

 

782,843

226,593

 

789,977

231,363

Creditors: Amounts falling due within one year

7

(2,433,940)

(2,055,851)

Net current liabilities

 

(1,643,963)

(1,824,488)

Total assets less current liabilities

 

9,800,166

9,507,028

Creditors: Amounts falling due after more than one year

7

(3,353,946)

(3,362,852)

Provisions for liabilities

(218,538)

(220,382)

Net assets

 

6,227,682

5,923,794

Capital and reserves

 

Called up share capital

9

103

103

Share premium reserve

4,896,087

4,896,087

Other reserves

743,929

659,378

Profit and loss account

587,563

368,226

Shareholders' funds

 

6,227,682

5,923,794

For the financial year ending 31 July 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 7 April 2025 and signed on its behalf by:
 



 

Mr P Jennings
Director

 

Best Property Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
65 Castle Road
Salisbury
SP1 3RN

2

Accounting policies

Basis of preparation

These financial statements have been prepared using the historical cost convention in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

The presentation currency is sterling.

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Going concern
The financial statements have been prepared on a going concern basis.
 

Revenue recognition
Turnover comprises rental income received or receivable in the ordinary course of the company's activities.

The company recognises revenue when:

The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities

Tax

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated at cost, less any subsequent accumulated depreciation and accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation
Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and equipment

25% straight line

 

Best Property Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Investment property

Investment property is measured at fair value at each reporting date with changes in fair value recognised in the profit and loss account.

Cash
Cash comprises cash on hand and all deposits.

Trade creditors

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 at the transaction price.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Defined contribution pension obligation

The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

3

Staff numbers

The average number of persons employed by the company during the year was 2 (2023 - 2).

 

Best Property Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

4

Tangible assets

Plant and equipment
 £

Total
£

Cost

At 1 August 2023

4,978

4,978

Additions

1,270

1,270

At 31 July 2024

6,248

6,248

Depreciation

At 1 August 2023

2,609

2,609

Charge for the year

1,391

1,391

At 31 July 2024

4,000

4,000

Net book value

At 31 July 2024

2,248

2,248

At 31 July 2023

2,369

2,369

5

Investment property

2024
£

2023
£

At 1 August

11,329,147

10,421,830

Additions

-

851,577

Fair value adjustments

112,734

55,740

At 31 July

11,441,881

11,329,147

The properties were valued by the directors at their market value using current market data for similar properties in the same areas.

6

Debtors

2024
£

2023
£

Other debtors

2,186

150

Prepayments

4,948

4,620

7,134

4,770

 

Best Property Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Bank loans

10,205

9,734

Trade creditors

-

1,959

Taxation and social security

127,886

7,583

Other creditors

176,536

93,506

Other loans

1,951,843

1,892,162

Accruals

167,470

50,907

2,433,940

2,055,851

Creditors include bank loans which are secured against the properties they relate to or the against assets of the company in the sum of £10,205 (2023 - £9,734).

Creditors: amounts falling due after more than one year

2024
£

2023
£

Bank loans

3,353,946

3,362,852

3,353,946

3,362,852

Creditors include bank loans which are secured against the properties they relate to or the against assets of the company in the sum of £3,353,946 (2023 - £3,362,852). Of this amount £nil (2023 - £nil) is repayable by instalments after more than 5 years and £1,817,993 (2023 - £3,317,908) is repayable, other than by instalments, after more than five years.

8

Related party transactions

Directors’ loan

The directors provided the company with a loan on which interest was charged.
 

 

Best Property Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

9

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

2

2.00

2

2.00

Ordinary A of £0.01 each

5,000

50.00

5,000

50.00

Ordinary B of £0.01 each

5,000

50.00

5,000

50.00

Ordinary C of £0.01 each

10

.10

10

.10

Ordinary D of £0.01 each

10

.10

10

.10

Ordinary E of £0.01 each

10

.10

10

.10

Ordinary F of £0.01 each

10

.10

10

.10

Ordinary G of £0.01 each

10

.10

10

.10

Ordinary H of £0.01 each

10

.10

10

.10

Ordinary I of £0.01 each

10

.10

10

.10

Ordinary J of £0.01 each

10

.10

10

.10

Ordinary K of £0.01 each

10

.10

10

.10

Ordinary L of £0.01 each

10

.10

10

.10

Ordinary M of £0.01 each

10

.10

10

.10

Ordinary N of £0.01 each

10

.10

10

.10

Ordinary O of £0.01 each

10

.10

10

.10

 

10,132

103.30

10,132

103.30