BESSEMER ESTATES LTD - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06376994 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 24 MARCH 2020

FOR

BESSEMER ESTATES LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

A Nezri

S Rand

SECRETARY:

A Nezri

REGISTERED OFFICE:

10 Palm Court

Queen Elizabeth Walks

London

N16 5XA

REGISTERED NUMBER:

06376994 (England and Wales)

ACCOUNTANTS:

Venitt and Greaves

Chartered Accountants

115 Craven Park Road

South Tottenham

London

N15 6BL

FIXED ASSETS

Investment property

5

1,554,433

1,554,433

CURRENT ASSETS

Debtors

6

65,767

64,377

Cash at bank

104,901

106,082

170,668

170,459

CREDITORS

Amounts falling due within one year

7

(449,603

)

(446,062

)

NET CURRENT LIABILITIES

(278,935

)

(275,603

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,275,498

1,278,830

CREDITORS

Amounts falling due after more than one year

8

(409,471

)

(452,399

)

NET ASSETS

866,027

826,431

CAPITAL AND RESERVES

Called up share capital

11

666,858

666,858

Retained earnings

12

199,169

159,573

SHAREHOLDERS' FUNDS

866,027

826,431

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 24 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 24 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 Income Statement has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 9 April 2021 and were signed on its behalf by:

A Nezri - Director

1.	STATUTORY INFORMATION

BESSEMER ESTATES LTD 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.

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

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents net rent receivable, excluding value added tax.

Investment property

Investment properties are properties held to earn rental income or for capital appreciation or for both.

Investment properties are recognised initially at cost.

Subsequent to initial recognition:

a. Investment properties whose fair value can be measured reliably without undue cost or effort are held at fair value. Any gains or losses arising from change in fair value are recognised in profit or loss in the period that they arise; and

b. no depreciation is provided in respect of investment properties applying the fair value model.

Taxation

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

4.	EMPLOYEES AND DIRECTORS

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

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 25 March 2019

and 24 March 2020

1,554,433

NET BOOK VALUE

At 24 March 2020

1,554,433

At 24 March 2019

1,554,433

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

24.3.20

24.3.19

£

£

Trade debtors

19,275

17,734

Other debtors

46,492

46,643

65,767

64,377

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

24.3.20

24.3.19

£

£

Taxation and social security

14,659

5,371

Other creditors

434,944

440,691

449,603

446,062

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

24.3.20

24.3.19

£

£

Bank loans (see note 9)

409,471

452,399

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

409,471

452,399

9.

LOANS

An analysis of the maturity of loans is given below:

24.3.20

24.3.19

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

409,471

452,399

10.	SECURED DEBTS

The following secured debts are included within creditors:

24.3.20

24.3.19

£

£

Bank loans

409,471

452,399

Bank loan is secured by a first charge over company's investment property and bear interest at variable rates.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

24.3.20

24.3.19

value:

£

£

2

Ordinary A

£1

2

2

666,856

Ordinary B

£1

666,856

666,856

666,858

666,858

12.

RESERVES

Retained

earnings

£

At 25 March 2019

159,573

Profit for the year

39,596

At 24 March 2020

199,169