REGISTERED NUMBER: 04023648 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Bestmark Properties Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

H Shan

Mrs S P Shan

SECRETARY:

H Shan

REGISTERED OFFICE:

7b Cleveland Drive

Marton

Middlesbrough

TS7 8AE

REGISTERED NUMBER:

04023648 (England and Wales)

ACCOUNTANTS:

Anderson Barrowcliff Limited

Chartered Accountants

3 Kingfisher Court

Bowesfield Park

Stockton on Tees

TS18 3EX

FIXED ASSETS

Intangible assets

4

7,750

10,750

Tangible assets

5

1,885,095

1,781,783

Investments

6

1

1

1,892,846

1,792,534

CURRENT ASSETS

Debtors

7

377,593

404,997

Cash at bank

57,827

50,489

435,420

455,486

CREDITORS

Amounts falling due within one year

8

646,838

536,666

NET CURRENT LIABILITIES

(211,418

)

(81,180

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,681,428

1,711,354

CREDITORS

Amounts falling due after more than one year

9

(281,123

)

(400,672

)

PROVISIONS FOR LIABILITIES

(71,000

)

(74,100

)

NET ASSETS

1,329,305

1,236,582

CAPITAL AND RESERVES

Called up share capital

11

2

2

Fair value reserve

12

522,270

470,118

Retained earnings

807,033

766,462

SHAREHOLDERS' FUNDS

1,329,305

1,236,582

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 December 2025 and were signed on its behalf by:

H Shan - Director

1.	STATUTORY INFORMATION

Bestmark Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

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

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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.

Although the company had net current liabilities of £211,418 as at 31 March 2025, these financial statements have been prepared on a going concern basis. The directors are of the opinion that future trading results will be sufficient to enable the company to continue in operation for the foreseeable future. The directors will provide additional financial support to the company if required.

These financial statements do not include any adjustments that would result should the company not continue to trade.

Preparation of consolidated financial statements

The financial statements contain information about Bestmark Properties Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

Turnover represents rental income earned in the period, exclusive of value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on cost

Computer equipment

-

25% on cost

Investment property

Investment properties are shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in other administrative expenses.

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, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

15,000

AMORTISATION

At 1 April 2024

4,250

Charge for year

3,000

At 31 March 2025

7,250

NET BOOK VALUE

At 31 March 2025

7,750

At 31 March 2024

10,750

5.	TANGIBLE FIXED ASSETS

Freehold

Fixtures

investment

and

Computer

property

fittings

equipment

Totals

£

£

£

£

COST OR VALUATION

At 1 April 2024

1,757,124

46,752

316

1,804,192

Additions

63,148

-

-

63,148

Revaluations

51,852

-

-

51,852

At 31 March 2025

1,872,124

46,752

316

1,919,192

DEPRECIATION

At 1 April 2024

-

22,094

315

22,409

Charge for year

-

11,688

-

11,688

At 31 March 2025

-

33,782

315

34,097

NET BOOK VALUE

At 31 March 2025

1,872,124

12,970

1

1,885,095

At 31 March 2024

1,757,124

24,658

1

1,781,783

At 31 March 2025 the freehold investment properties were valued at £1,872,124 by Mr H Shan, a director. Whilst Mr Shan is not a professional valuer he has over 20 years experience in property investment. The year-end valuation is based on his knowledge of the local property market, the property condition and market comparable information for market rental yields.

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2024

and 31 March 2025

1

NET BOOK VALUE

At 31 March 2025

1

At 31 March 2024

1

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

7,207

9,728

Amounts owed by group undertakings

295,659

316,659

Other debtors

74,727

78,610

377,593

404,997

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

28,549

49,866

Taxation and social security

18,016

13,235

Other creditors

600,273

473,565

646,838

536,666

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

236,123

400,672

Other creditors

45,000

-

281,123

400,672

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Other loans more 5yrs non-inst

45,000

-

10.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

264,672

450,538

The bank loan is secured by a legal charge over the companies freehold investment properties. In addition there is a legal charge over the freehold investment property owned by the subsidiary company and a legal charge over a property owned by the directors.

One of the directors has also given a guarantee of £100,000 against the company's borrowings.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

2

Ordinary

£1

2

2

12.

RESERVES

Fair

value

reserve

£

At 1 April 2024

470,118

Revaluation in year

51,852

Deferred tax on fair value

adjustments

300

At 31 March 2025

522,270

13.	OTHER FINANCIAL COMMITMENTS

Total financial commitments which are not included in the balance sheet amount to £33,767 (2024 - £47,467). This amount relates to lease agreements for the rental of commercial property.