Caseware UK (AP4) 2024.0.164 2024.0.164 2024-05-312024-05-31property redevelopmentfalse2023-06-01false55truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04000549 2023-06-01 2024-05-31 04000549 2022-06-01 2023-05-31 04000549 2024-05-31 04000549 2023-05-31 04000549 1 2023-06-01 2024-05-31 04000549 1 2022-06-01 2023-05-31 04000549 d:Director1 2023-06-01 2024-05-31 04000549 e:MotorVehicles 2023-06-01 2024-05-31 04000549 e:MotorVehicles 2024-05-31 04000549 e:MotorVehicles 2023-05-31 04000549 e:MotorVehicles e:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 04000549 e:FurnitureFittings 2023-06-01 2024-05-31 04000549 e:FurnitureFittings 2024-05-31 04000549 e:FurnitureFittings 2023-05-31 04000549 e:FurnitureFittings e:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 04000549 e:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 04000549 e:CurrentFinancialInstruments 2024-05-31 04000549 e:CurrentFinancialInstruments 2023-05-31 04000549 e:CurrentFinancialInstruments e:WithinOneYear 2024-05-31 04000549 e:CurrentFinancialInstruments e:WithinOneYear 2023-05-31 04000549 e:ShareCapital 2024-05-31 04000549 e:ShareCapital 2023-05-31 04000549 e:RetainedEarningsAccumulatedLosses 2024-05-31 04000549 e:RetainedEarningsAccumulatedLosses 2023-05-31 04000549 d:FRS102 2023-06-01 2024-05-31 04000549 d:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 04000549 d:FullAccounts 2023-06-01 2024-05-31 04000549 d:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 04000549 6 2023-06-01 2024-05-31 04000549 f:PoundSterling 2023-06-01 2024-05-31 iso4217:GBP xbrli:pure

Registered number: 04000549










BERNARD REILLY DEVELOPMENTS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

 
BERNARD REILLY DEVELOPMENTS LIMITED
 

CONTENTS



Page
Balance sheet
 
1 - 2
Notes to the financial statements
 
3 - 7


 
BERNARD REILLY DEVELOPMENTS LIMITED
REGISTERED NUMBER:04000549

BALANCE SHEET
AS AT 31 MAY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
612
932

Investments
 6 
1
1

  
613
933

Current assets
  

Stocks
 7 
697,717
693,467

Debtors: amounts falling due within one year
 8 
23,762
55,194

Cash at bank and in hand
 9 
1,965
2,644

  
723,444
751,305

Creditors: amounts falling due within one year
 10 
(607,265)
(633,204)

Net current assets
  
 
 
116,179
 
 
118,101

  

Net assets
  
116,792
119,034


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
116,692
118,934

  
116,792
119,034


Page 1

 
BERNARD REILLY DEVELOPMENTS LIMITED
REGISTERED NUMBER:04000549
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2024

The director considers 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 director acknowledges his 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 by: 



B Reilly
Director

Date: 20 August 2025

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

Page 2

 
BERNARD REILLY DEVELOPMENTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


General information

The entity is a private company, limited by shares, incorporated in England and Wales. The address of the registered office is 6th Floor, 2 London Wall Place, London, EC2Y 5AU. The principal activity of the company during the year was property redevelopment.

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies.

The financial statements are prepared in pounds sterling, the functional currency of the company, rounded to the nearest £1.
Bernard Reilly Developments Ltd is the parent company of a small group. It is not required to prepare nor has it prepared consolidated financial statements. These financial statements are those of the company, not the group.

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. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
BERNARD REILLY DEVELOPMENTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.5

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the company in independently administered funds.

 
2.6

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.


 
2.7

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles
-
25%
Fixtures and fittings
-
25%

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.

 
2.8

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 4

 
BERNARD REILLY DEVELOPMENTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first outbasis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.10

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.

 
2.11

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.

 
2.12

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.


3.


Other operating income

2024
2023
£
£

Other operating income
33,961
37,144

Rents receivable
64,820
65,495

98,781
102,639





4.


Employees

The average monthly number of employees, including directors, during the year was 5 (2023 - 5).

Page 5

 
BERNARD REILLY DEVELOPMENTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

5.


Tangible fixed assets





Motor vehicles
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 June 2023
14,487
24,823
39,310



At 31 May 2024

14,487
24,823
39,310



Depreciation


At 1 June 2023
13,916
24,462
38,378


Charge for the year on owned assets
233
87
320



At 31 May 2024

14,149
24,549
38,698



Net book value



At 31 May 2024
338
274
612



At 31 May 2023
571
361
932


6.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 June 2023
1



At 31 May 2024
1





7.


Stocks

2024
2023
£
£

Stock
697,717
693,467


Page 6

 
BERNARD REILLY DEVELOPMENTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

8.


Debtors

2024
2023
£
£


Trade debtors
-
1,193

Amounts owed by group undertakings
19,532
49,121

Other debtors
1,620
2,270

Prepayments and accrued income
2,610
2,610

23,762
55,194



9.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
1,965
2,644



10.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
501,385
502,345

Trade creditors
2,412
7,291

Corporation tax
26,329
26,329

Other taxation and social security
10,754
6,372

Other creditors
53,785
81,317

Accruals and deferred income
12,600
9,550

607,265
633,204


Bank loans of £501,385 (2023 - £502,345) are secured on the assets of the company.


11.


Controlling party

The company was under the control of B Reilly throughout the current and prior year. 

 
Page 7