REGISTERED NUMBER: 08412836 (England and Wales)

Unaudited Financial Statements

For The Year Ended 31 March 2025

for

BenRay Property Limited

Page

Balance Sheet

1

to

2

Notes to the Financial Statements

3

to

7

FIXED ASSETS

Tangible assets

4

18,388

1,381

Investment property

5

1,815,000

1,997,500

1,833,388

1,998,881

CURRENT ASSETS

Debtors

6

14,877

2,273

Cash at bank

9,197

8,643

24,074

10,916

CREDITORS

Amounts falling due within one year

7

11,238

10,921

NET CURRENT ASSETS/(LIABILITIES)

12,836

(5

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,846,224

1,998,876

CREDITORS

Amounts falling due after more than one year

8

(1,295,304

)

(1,451,148

)

PROVISIONS FOR LIABILITIES

(88,000

)

(88,000

)

NET ASSETS

462,920

459,728

CAPITAL AND RESERVES

Called up share capital

10

100

100

Fair value reserve

11

520,544

526,573

Retained earnings

11

(57,724

)

(66,945

)

SHAREHOLDERS' FUNDS

462,920

459,728

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 December 2025 and were signed on its behalf by:

R Low - Director

1.	STATUTORY INFORMATION

BenRay Property Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

08412836

Registered office:

The Manor House

260 Ecclesall Road South

Sheffield

S11 9PS

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Turnover

Turnover represents rent receivable from investment properties.

Tangible fixed assets

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

Plant and machinery etc

-

25% on reducing balance

Investment property

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

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 material 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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

14,400

Additions

19,188

Disposals

(14,400

)

At 31 March 2025

19,188

DEPRECIATION

At 1 April 2024

13,019

Charge for year

1,088

Eliminated on disposal

(13,307

)

At 31 March 2025

800

NET BOOK VALUE

At 31 March 2025

18,388

At 31 March 2024

1,381

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

1,997,500

Disposals

(176,471

)

Revaluations

(6,029

)

At 31 March 2025

1,815,000

NET BOOK VALUE

At 31 March 2025

1,815,000

At 31 March 2024

1,997,500

The company's investment properties are valued annually at fair value. The properties have been valued by the directors at 31 March 2025, based on their experience in this sector. All the valuations were made on an open market value basis also taking account of market evidence relating to transaction prices for similar properties.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

as restated

£

£

Other debtors

14,877

2,273

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

as restated

£

£

Trade creditors

316

768

Taxation and social security

322

483

Other creditors

10,600

9,670

11,238

10,921

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

as restated

£

£

Bank loans

906,606

1,004,750

Other creditors

388,698

446,398

1,295,304

1,451,148

2025

2024

as restated

£

£

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans

906,606

1,004,750

9.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

as restated

£

£

Bank loans

906,606

1,004,750

The bank loans are secured on the investment properties by fixed legal charges with the company's bankers.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

as restated

£

£

100

Ordinary

£1

100

100

11.

RESERVES

Profit and

Fair Value

Totals

Loss account

Reserve

£

£

£

At 1 April 2024 as previously reported

(66,945

)

614,573

547,628

Prior year adjustment

-

(88,000

)

(88,000

)

At 1 April 2024 as restated

(68,217

)

526,573

459,628

Profit for the year ended 31 March 2025

9,221

-

9,221

Fair value loss on investment properties

-

(6,029

)

(6,029

)

Deferred tax on fair value gains

-

-

-

At 31 March 2025

(57,724

)

520,544

462,820

The prior year adjustment relates to the correction of the deferred taxation provision that was materially understated in prior periods by an amount of £88,000. The effect of this recalculation is an increase of £57,000 in the provision for the comparative year ended 31 March 2024 and an increase of £31,000 in earlier years.

12.	RELATED PARTY DISCLOSURES

Included in creditors are amounts totalling £388,698 (2024 - £446,398) due to shareholders and directors of the company. These loans are interest free and have no fixed terms of repayment.