Bear Leisure Properties Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11058850 (England and Wales)

Unaudited Financial Statements

for the Year Ended

31 March 2020

for

Bear Leisure Properties Limited

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

11,576

15,549

Investment property

5

2,954,712

2,887,365

2,966,288

2,902,914

CURRENT ASSETS

Debtors

6

13,436

10,033

Cash at bank

1,101

6,511

14,537

16,544

CREDITORS

Amounts falling due within one year

7

2,911,450

2,894,722

NET CURRENT LIABILITIES

(2,896,913

)

(2,878,178

)

TOTAL ASSETS LESS CURRENT LIABILITIES

69,375

24,736

PROVISIONS FOR LIABILITIES

7,378

-

NET ASSETS

61,997

24,736

CAPITAL AND RESERVES

Called up share capital

8

1

1

Retained earnings

61,996

24,735

SHAREHOLDERS' FUNDS

61,997

24,736

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 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 has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 March 2021 and were signed on its behalf by:

P R Halliday - Director

1.	STATUTORY INFORMATION

Bear Leisure Properties 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:

11058850

Registered office:

1 Mariner Court

Calder Business Park

Wakefield

WF4 3FL

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 UK and Republic of Ireland" and the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS102 have been applied other than where additional disclosure is required to give a true and fair view.

The financial statements have been prepared under the historical cost convention modified to include certain items at fair value.

Turnover

The company receives rents for lease of residential and commercial property. Rents received are charged to the Profit and Loss Account on a straight-line basis over the lease term, even if the payments are not made on such basis.

Tangible fixed assets

Tangible fixed assets are stated at purchase cost together with any incidental expenses of acquisition, net of depreciation and any provision for impairment.

Depreciation is provided on all tangible assets, other than assets in the course of construction including management time, at rates calculated to write off the cost less estimated residual value of each asset on a straight line basis over its expected useful life.

Plant and Machinery 20% Straight line

Fixtures and Fittings 20% Straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset after deducting estimated costs of disposal, if the asset were already at an age and in the condition expected at the end of its estimated useful life.

The need for any fixed asset impairment write down is assessed by comparison of the carrying value of the assets against the higher of realisable value and value in use.

The gain or loss arising on the disposal of an asset is determined on the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

Investment property

Investment properties for which fair value can be measured reliably without undue cost or effort on an ongoing basis are measured at fair value annually with any change recognised in the profit and loss account.

Financial instruments

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.

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit and loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

The following assets and liabilities are classified as basic financial instruments - trade debtors, other debtors, cash and bank balances, trade creditors, other creditors and inter-company balances.

Trade debtors, other debtors, cash and bank balances, trade creditors, other creditors and inter-company balances (being repayable on demand) are measured at the amortised cost equivalent to the undiscounted amount of cash or other consideration expected to be paid or received.

Taxation

Current tax, including UK corporation tax is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the balance sheet date. Timing differences are differences between the company's taxable profits and its results as stated in the financial statements that arise from the inclusion of gains and losses in tax assessments in periods different from those in which they are recognised in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that, on the basis of all available evidence, it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date and are expected to apply to the reversal of the timing difference.

Impairment of assets

Assets are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit and loss as described below.

Non financial assets

An asset is impaired when there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Financial assets

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset's carrying amount and the best estimate of the amount that would be received for the asset if it were sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had impairment not been recognised.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2019 - NIL).

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1 April 2019

19,322

1,410

20,732

Additions

183

-

183

At 31 March 2020

19,505

1,410

20,915

DEPRECIATION

At 1 April 2019

4,831

352

5,183

Charge for year

3,874

282

4,156

At 31 March 2020

8,705

634

9,339

NET BOOK VALUE

At 31 March 2020

10,800

776

11,576

At 31 March 2019

14,491

1,058

15,549

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2019

2,887,365

Additions

67,347

At 31 March 2020

2,954,712

NET BOOK VALUE

At 31 March 2020

2,954,712

At 31 March 2019

2,887,365

The directors are of the opinion that the fair value of investment properties as at 31 March 2020 are equivalent to the cost.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

-

2,142

Other debtors

13,436

7,891

13,436

10,033

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

21,408

3,060

Amounts owed to group undertakings

2,780,426

2,843,146

Taxation and social security

7,253

-

Other creditors

102,363

48,516

2,911,450

2,894,722

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

1

Ordinary

£1

1

1

9.	POST BALANCE SHEET EVENT

The Coronavirus (COVID-19) pandemic began affecting a widespread number of UK businesses in March 2020 for an indeterminate period. In common with all businesses in its sector, the company has been impacted by the pandemic.

At the date of approval of the financial statements it has not been possible to quantify or ascertain with any certainty the financial impact of COVID-19. No adjustments have been made to any figures in the financial statements as a result of the pandemic.