Silverfin false false 31/07/2024 01/08/2023 31/07/2024 J R Bryce 16/02/2017 05 May 2025 The principal activity of the Company during the financial year was the letting and operating of own or leased real
estate
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Company No: 10623397 (England and Wales)

BEDFORD PROPERTIES (SW) LIMITED

Unaudited Financial Statements
For the financial year ended 31 July 2024
Pages for filing with the registrar

BEDFORD PROPERTIES (SW) LIMITED

Unaudited Financial Statements

For the financial year ended 31 July 2024

Contents

BEDFORD PROPERTIES (SW) LIMITED

BALANCE SHEET

As at 31 July 2024
BEDFORD PROPERTIES (SW) LIMITED

BALANCE SHEET (continued)

As at 31 July 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 63,873 76,648
Investment property 4 4,224,999 3,619,999
4,288,872 3,696,647
Current assets
Debtors 5 26,918 111,882
Cash at bank and in hand 51,205 32,582
78,123 144,464
Creditors: amounts falling due within one year 6 ( 1,054,165) ( 324,143)
Net current liabilities (976,042) (179,679)
Total assets less current liabilities 3,312,830 3,516,968
Creditors: amounts falling due after more than one year 7 ( 2,010,710) ( 2,011,942)
Provision for liabilities ( 336,876) ( 384,005)
Net assets 965,244 1,121,021
Capital and reserves
Called-up share capital 8 100 100
Fair value reserve 925,314 1,115,290
Profit and loss account 39,830 5,631
Total shareholder's funds 965,244 1,121,021

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.

Director's responsibilities:

The financial statements of Bedford Properties (SW) Limited (registered number: 10623397) were approved and authorised for issue by the Director on 05 May 2025. They were signed on its behalf by:

J R Bryce
Director
BEDFORD PROPERTIES (SW) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2024
BEDFORD PROPERTIES (SW) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Bedford Properties (SW) 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 C/O Francis Clark Llp Melville Building East, Royal William Yard, Plymouth, PL1 3RP, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and 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 £.

Turnover

Turnover comprises the fair value of the consideration received from letting properties in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Plant and machinery etc. 10 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently, the properties have been measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 0 0

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 August 2023 127,748 127,748
At 31 July 2024 127,748 127,748
Accumulated depreciation
At 01 August 2023 51,100 51,100
Charge for the financial year 12,775 12,775
At 31 July 2024 63,875 63,875
Net book value
At 31 July 2024 63,873 63,873
At 31 July 2023 76,648 76,648

4. Investment property

Investment property
£
Valuation
As at 01 August 2023 3,619,999
Additions 858,302
Fair value movement (253,302)
As at 31 July 2024 4,224,999

5. Debtors

2024 2023
£ £
Other debtors 26,918 111,882

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 7,200 7,200
Other creditors 1,046,965 316,943
1,054,165 324,143

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 2,010,710 2,011,942

The above amounts are secured against the investment properties held by the business.

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100