BEAULANE PROPERTIES LTD Filleted accounts for Companies House (small and micro)

BEAULANE PROPERTIES LTD. - Company Information

0 false false false false false false false false false false true false false false false false false No description of principal activity 2022-05-01 Sage Accounts Production Advanced 2023 - FRS102_2023 2,347,665 11,734 1,385,000 974,399 974,399 2,347,665 xbrli:pure xbrli:shares iso4217:GBP 02605363 2022-05-01 2023-04-30 02605363 2023-04-30 02605363 2022-04-30 02605363 2021-05-01 2022-04-30 02605363 2022-04-30 02605363 2021-04-30 02605363 bus:Director1 2022-05-01 2023-04-30 02605363 core:LandBuildings 2022-05-01 2023-04-30 02605363 core:WithinOneYear 2023-04-30 02605363 core:WithinOneYear 2022-04-30 02605363 core:AfterOneYear 2022-04-30 02605363 core:ShareCapital 2023-04-30 02605363 core:ShareCapital 2022-04-30 02605363 core:RevaluationReserve 2023-04-30 02605363 core:RevaluationReserve 2022-04-30 02605363 core:RetainedEarningsAccumulatedLosses 2023-04-30 02605363 core:RetainedEarningsAccumulatedLosses 2022-04-30 02605363 core:LandBuildings 2023-04-30 02605363 core:LandBuildings 2022-04-30 02605363 core:LandBuildings 2022-04-30 02605363 bus:SmallEntities 2022-05-01 2023-04-30 02605363 bus:AuditExempt-NoAccountantsReport 2022-05-01 2023-04-30 02605363 bus:SmallCompaniesRegimeForAccounts 2022-05-01 2023-04-30 02605363 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 02605363 bus:FullAccounts 2022-05-01 2023-04-30 02605363 core:OtherRelatedParties 2022-05-01 2023-04-30

COMPANY REGISTRATION NUMBER: 02605363

BEAULANE PROPERTIES LTD

Filleted Unaudited Financial Statements

30 April 2023

BEAULANE PROPERTIES LTD

Statement of Financial Position

30 April 2023

	2023		2022
Note	£	£	£

Fixed assets

Tangible assets	4		974,399	2,347,665

Current assets

Debtors	5	1,110,355	960,077
Cash at bank and in hand		625	–
		------------	---------
		1,110,980	960,077

Creditors: amounts falling due within one year	6	704,235		953,330
		------------		---------
Net current assets			406,745	6,747
			------------	------------
Total assets less current liabilities			1,381,144	2,354,412

Creditors: amounts falling due after more than one year	7	–	973,489
		------------	------------
Net assets		1,381,144	1,380,923
		------------	------------

Capital and reserves

Called up share capital	2	2
Revaluation reserve	350,000	1,150,000
Profit and loss account	1,031,142	230,921
	------------	------------
Shareholders funds	1,381,144	1,380,923
	------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the year ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- 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 Act with respect to accounting records and the preparation of financial statements .

BEAULANE PROPERTIES LTD

Statement of Financial Position (continued)

30 April 2023

These financial statements were approved by the board of directors and authorised for issue on 30 April 2024 , and are signed on behalf of the board by:

P PATEL
Director

Company registration number: 02605363

BEAULANE PROPERTIES LTD

Notes to the Financial Statements

Year ended 30 April 2023

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 3rd Floor, Vyman House, 104 College Road, Harrow, Middlesex, HA1 1BQ, United Kingdom.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Financial instruments

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 entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity. Compound instruments comprise both a liability and an equity component. At date of issue, the fair value of the liability component is estimated using the prevailing market interest rate for a similar debt instrument. The liability component is accounted for as a financial liability. The residual is the difference between the net proceeds of issue and the liability component (at time of issue). The residual is the equity component, which is accounted for as an equity instrument. The interest expense on the liability component is calculated applying the effective interest rate for the liability component of the instrument. The difference between this amount and any repayments is added to the carrying amount of the liability in the balance sheet.

4. Tangible assets

	Land and buildings
	£
Cost
At 1 May 2022	2,347,665
Additions	11,734
Disposals	( 1,385,000)
	------------
At 30 April 2023	974,399
	------------
Depreciation
At 1 May 2022 and 30 April 2023	–
	------------
Carrying amount
At 30 April 2023	974,399
	------------
At 30 April 2022	2,347,665
	------------

5. Debtors

	2023	2022
	£	£
Trade debtors	30,450	43,950
Amounts owed by group undertakings and undertakings in which the company has a participating interest	336,204	–
Other debtors	743,701	916,127
	------------	---------
	1,110,355	960,077
	------------	---------

6. Creditors: amounts falling due within one year

	2023	2022
	£	£
Bank loans and overdrafts	–	39,410
Trade creditors	83,771	91,328
Corporation tax	13,893	15,551
Other creditors	606,571	807,041
	---------	---------
	704,235	953,330
	---------	---------

7. Creditors: amounts falling due after more than one year

	2023	2022
	£	£
Bank loans and overdrafts	–	973,489
	----	---------

8. Related party transactions

The company was under the control of Mr P Patel and Mrs P Patel throughout the current and previous year. Mrs P Patel is the managing director and majority shareholder.