Company registration number 09884324 (England and Wales)
BEN WARREN PROPERTIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
PAGES FOR FILING WITH REGISTRAR
BEN WARREN PROPERTIES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
BEN WARREN PROPERTIES LIMITED
BALANCE SHEET
AS AT
30 NOVEMBER 2024
30 November 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
4
6,350,399
6,548,935
Current assets
Debtors
5
53,359
74,848
Cash at bank and in hand
292,775
149,199
346,134
224,047
Creditors: amounts falling due within one year
6
(640,909)
(644,085)
Net current liabilities
(294,775)
(420,038)
Total assets less current liabilities
6,055,624
6,128,897
Creditors: amounts falling due after more than one year
7
(3,188,558)
(3,236,397)
Provisions for liabilities
(7,660)
Net assets
2,867,066
2,884,840
Capital and reserves
Called up share capital
1
1
Revaluation reserve
39,423
32,658
Profit and loss reserves
2,827,642
2,852,181
Total equity
2,867,066
2,884,840
BEN WARREN PROPERTIES LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 NOVEMBER 2024
30 November 2024
- 2 -
For the financial year ended 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved and signed by the director and authorised for issue on 21 August 2025
Mr B Warren
Director
Company registration number 09884324 (England and Wales)
BEN WARREN PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 3 -
1
Accounting policies
Company information
Ben Warren Properties Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Old Grange, Warren Estate, Lordship Road, Writtle, Essex, CM1 3WT.
The company is not part of a group.
1.1
Accounting convention
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The
Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section
1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the
historical cost convention as modified by the revaluation of certain assets.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties at fair value. The principal accounting policies adopted are set out below.
1.2
Going concern
The accounts have been prepared on the going concern basis which assumes the continued support of the directortrue and other companies under his control. The director has confirmed this support will continue and believes no adjustments relating to the company's ability to continue as a going concern needs to be made to these financial statements.
1.3
Turnover
Revenue represents rental income received and 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 at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales tax.
1.4
Investment property
The investment properties are included at fair value. Gains are recognised in the income statement and subsequently transferred to the fair value reserve, Deferred taxation is provided on these gains at the rate expected to apply when the properties are sold.
1.5
Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities, including debtors, creditors and bank balances. Basic short term financial assets are measured at the transaction price, less any impairment and basic short term financial liabilities are measured at the transaction price.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
BEN WARREN PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
1
Accounting policies
(Continued)
- 4 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
2
Judgements and key sources of estimation uncertainty
No significant judgements or estimates have been applied in the preparation of the financial statements.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
1
1
4
Investment property
2024
£
Fair value
At 1 December 2023
6,548,935
Additions
234,489
Disposals
(432,130)
Revaluations
(895)
At 30 November 2024
6,350,399
The fair value of the investment property has been arrived at on the basis of a valuation carried out at year-end by the director. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.
BEN WARREN PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
4
Investment property
(Continued)
- 5 -
If investment properties were stated on an historical cost basis rather than a fair value basis, the amounts would have been included as follows:
2024
2023
£
£
Cost
6,309,476
6,508,617
Accumulated depreciation
-
-
Carrying amount
6,309,476
6,508,617
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
39,804
56,153
Other debtors
13,555
18,695
53,359
74,848
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
89,330
89,330
Trade creditors
3,190
11,521
Taxation and social security
184,668
167,046
Other creditors
363,721
376,188
640,909
644,085
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
1,818,037
1,859,355
Other creditors
1,370,521
1,377,042
3,188,558
3,236,397
Creditors which fall due after five years are payable as follows:
Payable other than by instalments
1,494,669
1,525,987
Bank loans and mortgages are secured on the properties to which they relate.