Beardvale Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02789676 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2019

FOR

BEARDVALE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J R Coles

D F Godfrey

Mrs H E Godfrey

Mrs I Godfrey

SECRETARY:

J R Coles

REGISTERED OFFICE:

Ossington Chambers

6-8 Castle Gate

Newark

Nottinghamshire

NG24 1AX

REGISTERED NUMBER:

02789676 (England and Wales)

ACCOUNTANTS:

Stephenson Nuttall & Co

Chartered Accountants

Ossington Chambers

6-8 Castle Gate

Newark

Nottinghamshire

NG24 1AX

FIXED ASSETS

Tangible assets

4

-

21

Investments

5

100

100

Investment property

6

440,000

440,000

440,100

440,121

CURRENT ASSETS

Debtors

7

239,089

296,705

Cash at bank

4,296

4,041

243,385

300,746

CREDITORS

Amounts falling due within one year

8

28,954

33,264

NET CURRENT ASSETS

214,431

267,482

TOTAL ASSETS LESS CURRENT LIABILITIES

654,531

707,603

PROVISIONS FOR LIABILITIES

9

58,500

58,500

NET ASSETS

596,031

649,103

CAPITAL AND RESERVES

Called up share capital

10

60

60

Retained earnings

595,971

649,043

SHAREHOLDERS' FUNDS

596,031

649,103

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2019 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 30th November 2019 and were signed on its behalf by:

D F Godfrey - Director

1.	STATUTORY INFORMATION

Beardvale 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.

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 the value of rental income receivable in the period.

Tangible fixed assets

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

Computer equipment

-

33% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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 Statement of Income and Retained

Earnings, 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2018 - 1 ).

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1st April 2018

1,599

Disposals

(1,599

)

At 31st March 2019

-

DEPRECIATION

At 1st April 2018

1,578

Charge for year

21

Eliminated on disposal

(1,599

)

At 31st March 2019

-

NET BOOK VALUE

At 31st March 2019

-

At 31st March 2018

21

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1st April 2018

and 31st March 2019

100

NET BOOK VALUE

At 31st March 2019

100

At 31st March 2018

100

Fixed asset investments represents 100% of the ordinary share capital of Oaktree Properties Limited.

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st April 2018

and 31st March 2019

440,000

NET BOOK VALUE

At 31st March 2019

440,000

At 31st March 2018

440,000

Fair value at 31st March 2019 is represented by:

£

Valuation in 2009

169,565

Valuation in 2010

10,000

Valuation in 2013

50,000

Valuation in 2015

50,000

Valuation in 2016

50,000

Valuation in 2017

40,000

Cost

70,435

440,000

If investment property had not been revalued it would have been included at the following historical cost:

31/3/19

31/3/18

£

£

Cost

70,435

70,435

Investment property was valued on an open market basis on 31st March 2019 by the directors .

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/19

31/3/18

£

£

Trade debtors

5,062

5,587

Due from subsidiary company

148,133

214,173

Directors' current accounts

68,128

61,374

Tax

17,766

15,571

239,089

296,705

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/19

31/3/18

£

£

Tax

10,158

8,847

Other creditors

-

2,562

Accrued expenses

2,039

5,098

Accrued interest

16,757

16,757

28,954

33,264

9.	PROVISIONS FOR LIABILITIES

31/3/19

31/3/18

£

£

Deferred tax

58,500

58,500

Deferred

tax

£

Balance at 1st April 2018

58,500

Balance at 31st March 2019

58,500

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/3/19

31/3/18

value:

£

£

60

Ordinary

£1

60

60

11.	CONTINGENT LIABILITIES

The company had no contingent liabilities at 31st March 2019 (2018 - None).

12.	CAPITAL COMMITMENTS

31/3/19

31/3/18

£

£

Contracted but not provided for in the

financial statements

-

-

13.	RELATED PARTY DISCLOSURES

At 31st March 2019 the sum of £68,128 (2018 - £61,374) was owed by Mr D F Godfrey. Interest at 3.5% per annum is

payable on this loan.

During the year, management charges of £5,000 were receivable from Oaktree Properties Limited which is a wholly owned

subsidiary of Beardvale Limited. At 31st March 2019 the sum of £148,133 (2018 - £214,173) was due from Oaktree

Properties Limited.

D F Godfrey together with his wife Mrs I Godfrey and daughter Mrs H E Godfrey control Beardvale Ltd by virtue of a

controlling interest of 100% of the issued ordinary share capital.