Company No:
Contents
DIRECTORS | C E C Paschalides (Appointed 18 April 2023) |
H P M Paschalides (Appointed 18 April 2023) |
REGISTERED OFFICE | 22 Chancery Lane |
London | |
WC2A 1LS | |
United Kingdom |
COMPANY NUMBER | 14812083 (England and Wales) |
Note | 30.04.2024 | |
£ | ||
Fixed assets | ||
Tangible assets | 3 |
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Investment property | 4 |
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Investments | 5 |
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4,438,321 | ||
Current assets | ||
Stocks | 6 |
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Debtors | 7 |
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Cash at bank and in hand |
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390,883 | ||
Creditors: amounts falling due within one year | 8 | (
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Net current assets | 66,917 | |
Total assets less current liabilities | 4,505,238 | |
Creditors: amounts falling due after more than one year | 9 | (
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Net assets |
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Capital and reserves | ||
Called-up share capital | 10 |
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Profit and loss account | (
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Total shareholder's funds |
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Directors' responsibilities:
These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Berach Estate Ltd (registered number:
H P M Paschalides
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.
Berach Estate Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 22 Chancery Lane, London, WC2A 1LS. The address of the company's principal place of business is Kilberry Castle, Kilberry, Tarbert, Argyll, PA29 6YD, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.
Land and buildings | not depreciated |
Biological assets | not depreciated |
Plant and machinery |
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Fixtures and fittings |
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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.
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.
Other investments is made up of a collection of artwork which is measured at cost.
Period from 18.04.2023 to 30.04.2024 |
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Number | |
Monthly average number of persons employed by the company during the period, including directors |
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Land and buildings | Biological assets | Plant and machinery | Fixtures and fittings | Total | |||||
£ | £ | £ | £ | £ | |||||
Cost | |||||||||
At 18 April 2023 |
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Additions |
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Revaluations |
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At 30 April 2024 |
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Accumulated depreciation | |||||||||
At 18 April 2023 |
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Charge for the financial period |
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At 30 April 2024 |
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Net book value | |||||||||
At 30 April 2024 |
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Investment property | |
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Valuation | |
As at 18 April 2023 |
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Additions | 2,122,140 |
As at 30 April 2024 |
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Investment property acquired during the year includes three properties, Kilberry Castle, the Laundry Cottage and Kilberry Inn.
Kilberry Castle was purchased on 14 June 2023 for £1,100,000, directly attributable legal and professional fees and associated taxes of £251,835 were also capitalised. The property was acquired during the year, therefore the acquisition cost has been taken as the fair value, the property is awaiting refurbishment before being brought into use.
The Laundry Cottage was purchased on 14 June 2023 for £300,000. The property was acquired during the year, therefore the acquisition cost has been taken as the fair value.
Kilberry Inn was purchased on 2 February 2024 for £415,000, directly attributable legal and professional fees and associated taxes of £55,305 were also capitalised. The property is measured at fair value, due to the proximity of the acquisition to year end the acquisition cost has been taken to be fair value.
Other investments | Total | ||
£ | £ | ||
Cost or valuation before impairment | |||
At 18 April 2023 |
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Additions |
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At 30 April 2024 |
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Carrying value at 30 April 2024 |
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Other investments is made up of a collection of artwork owned by the company.
30.04.2024 | |
£ | |
Stocks |
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30.04.2024 | |
£ | |
Amounts owed by related parties |
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Other debtors |
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30.04.2024 | |
£ | |
Bank loans |
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Trade creditors |
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Other creditors |
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30.04.2024 | |
£ | |
Bank loans |
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The company received a loan of £220,000 from Weatherby's Bank which is subject to interest of 4.99% plus the Bank of England Base Rate. Interest of £14,751 was charged on this loan during the period, the facility is fully repayable by 3 September 2028.
30.04.2024 | |
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Allotted, called-up and fully-paid | |
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The ultimate controlling parties are Philip Paschalides and Emerentienne Paschalides.