Company No:
Contents
| Note | 2025 | 2024 | ||
| £ | £ | |||
| Fixed assets | ||||
| Investment property | 3 |
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| 23,645,002 | 22,690,002 | |||
| Current assets | ||||
| Stocks |
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| Debtors | 4 |
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| Cash at bank and in hand |
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| 5,787,048 | 5,867,668 | |||
| Creditors: amounts falling due within one year | 5 | (
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| Net current liabilities | (3,542,543) | (3,760,706) | ||
| Total assets less current liabilities | 20,102,459 | 18,929,296 | ||
| Creditors: amounts falling due after more than one year | 6 | (
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| Provision for liabilities | 7 | (
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| Net assets |
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| Capital and reserves | ||||
| Called-up share capital |
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| Profit and loss account |
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| Total shareholder's funds |
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Directors' responsibilities:
The financial statements of Beeline Properties Limited (registered number:
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G I Maspero
Director |
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.
Beeline Properties 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 Cross Keys House, 27 The Parade, Marlborough, SN8 1NE, 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 £.
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
Income for the sale of development property is recognised as turnover when the company has a right to consideration.
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.
Stock of property under development and not subject to a sale contract includes all finance costs.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
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.
Basic financial assets
Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Basic financial liabilities
Basic financial liabilities, including trade and other creditors, bank loans and loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.
| 2025 | 2024 | ||
| Number | Number | ||
| Monthly average number of persons employed by the Company during the year, including directors |
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| Investment property | |
| £ | |
| Fair value | |
| As at 01 September 2024 |
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| Additions | 17,844 |
| Fair value movement | 937,156 |
| As at 31 August 2025 |
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Investment property comprises freehold properties held for use in operating leases.
On 30 June 2017, the fair value of the investment property was arrived at on the basis of a valuation carried out by Jones Lang LaSalle and Carter Jonas, who are not connected with the company. The valuation conforms to Independent Valuation Standards and was based on recent market transactions on arm's length tests for similar properties. The valuation provided was net of buying costs.
As at 31 August 2025, a director of the company, G I Maspero B.Arch Msc RIBA, has reviewed these external valuations and has revised the fair value based on recent market transactions on arm's length tests for similar properties. The valuation shown in the financial statements is therefore gross of buying costs.
The investment properties are used to generate rental income on operating lease agreements.
| 2025 | 2024 | ||
| £ | £ | ||
| Trade debtors |
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| Corporation tax |
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| Other debtors |
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| 2025 | 2024 | ||
| £ | £ | ||
| Bank loans |
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| Trade creditors |
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| Amounts owed to Group undertakings |
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| Other taxation and social security |
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| Other creditors |
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Included within amounts owed to group undertakings is £6,173,292 (2024: £4,103,172) relating to loans due to Aqua Nominees Limited, the company's parent undertaking. These loans are repayable on demand and accrue interest at rates of 4% and 12%.
| 2025 | 2024 | ||
| £ | £ | ||
| Bank loans |
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| Other creditors |
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The aggregate amount of creditors for which security has been given amounted to £8,047,704 (2024: £8,241,072 ).
| 2025 | 2024 | ||
| £ | £ | ||
| Deferred tax |
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Transactions with related parties
During the year the company entered into the following transactions with related parties.
Sales
| 2025 | 2024 | ||
| £ | £ | ||
| Entities with a common director | 55,000 | 55,000 |
Expenses recharged to related parties
| 2025 | 2024 | ||
| £ | £ | ||
| Fellow group undertakings | 4,933 | 5,023 |
Professional fees charged by related parties
| 2025 | 2024 | ||
| £ | £ | ||
| Fellow group undertakings | 143,200 | 42,000 | |
| Entities with a common director | 142,169 | 185,848 | |
| 285,369 | 227,848 |
Expenses recharged by related parties
| 2025 | 2024 | ||
| £ | £ | ||
| Entities with a common director | 126 | 136 |
Amounts owed to related parties
The following amounts were outstanding at the reporting end date:
| 2025 | 2024 | ||
| £ | £ | ||
| Entities with control, joint control or significant influence over the company | 6,926,470 | 4,640,243 | |
| Family of G Maspero | 270,850 | 270,849 | |
| Fellow group undertakings | 880,306 | 3,683,498 | |
| G Maspero | 106,970 | 100,000 | |
| 8,184,596 | 8,694,590 |
Amounts owed from related parties
The following amounts were outstanding at the reporting end date:
| 2025 | 2024 | ||
| £ | £ | ||
| Family of G Maspero | 712,697 | 699,377 | |
| Entities with a common director | 29,250 | 134,500 | |
| 741,947 | 833,877 |