Brightbeech Developments Limited Filleted accounts for Companies House (small and micro)

BRIGHTBEECH DEVELOPMENTS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 09514190

Brightbeech Developments Limited

Filleted Unaudited Abridged Financial Statements

31 March 2022

Brightbeech Developments Limited

Abridged Statement of Financial Position

31 March 2022

	2022	2021
Note	£	£

FIXED ASSETS

Investment property	4	4,458,122	3,526,182
Tangible assets	5	44,825	19,947
Investments	6	35	35
		------------	------------
		4,502,982	3,546,164

CURRENT ASSETS

Debtors	11,843	15,515
Cash at bank and in hand	1,502,549	84,887
	------------	---------
	1,514,392	100,402

CREDITORS: amounts falling due within one year	1,133,453	380,635
	------------	---------
NET CURRENT ASSETS/(LIABILITIES)	380,939	( 280,233)
	------------	------------
TOTAL ASSETS LESS CURRENT LIABILITIES	4,883,921	3,265,931

CREDITORS: amounts falling due after more than one year	3,045,237	1,567,296
	------------	------------
NET ASSETS	1,838,684	1,698,635
	------------	------------

CAPITAL AND RESERVES

Called up share capital	100	100
Profit and loss account	1,838,584	1,698,535
	------------	------------
SHAREHOLDERS FUNDS	1,838,684	1,698,635
	------------	------------

These abridged 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 abridged statement of income and retained earnings has not been delivered.

For the year ending 31 March 2022 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 abridged 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 abridged financial statements .

All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 March 2022 in accordance with Section 444(2A) of the Companies Act 2006.

Brightbeech Developments Limited

Abridged Statement of Financial Position (continued)

31 March 2022

These abridged financial statements were approved by the board of directors and authorised for issue on 19 December 2022 , and are signed on behalf of the board by:

TR Lincoln
Director

Company registration number: 09514190

Brightbeech Developments Limited

Notes to the Abridged Financial Statements

Year ended 31 March 2022

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Second Floor Grove House, Ocean Way, Southampton, Hampshire, SO14 3TJ.

2. STATEMENT OF COMPLIANCE

These abridged 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. 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 and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

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.

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 and loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures and fittings	-	20% reducing balance
Computer equipment	-	33% straight line

Investments in associates

Investments in associate undertakings are recognised at cost.

4. INVESTMENT PROPERTY

	£
Cost or valuation
At 1 April 2021	3,526,182
Additions	931,940
	------------
At 31 March 2022	4,458,122
	------------
Depreciation
At 1 April 2021 and 31 March 2022	–
	------------
Carrying amount
At 31 March 2022	4,458,122
	------------
At 31 March 2021	3,526,182
	------------

5. TANGIBLE ASSETS

	£
Cost
At 1 April 2021	25,763
Additions	37,095
	--------
At 31 March 2022	62,858
	--------
Depreciation
At 1 April 2021	5,816
Charge for the year	12,217
	--------
At 31 March 2022	18,033
	--------
Carrying amount
At 31 March 2022	44,825
	--------
At 31 March 2021	19,947
	--------

6. INVESTMENTS

	£
Impairment
At 1 April 2021	–
	----
At 31 March 2022	–
	----
Carrying amount
At 31 March 2022	35
	----
At 31 March 2021	35
	----

7. RELATED PARTY TRANSACTIONS

During the year the company entered into the following transactions with related parties:

	Transaction value		Balance owed by/(owed to)
	2022	2021	2022	2021
	£	£	£	£
T R Lincoln	22,060	(854,858)	( 1,545,237)	( 1,567,296)
	--------	---------	------------	------------

T R Lincoln Mr T R Lincoln is a director and shareholder of the company. As at 31 March 2022, the company owed Mr T R Lincoln, a director and shareholder, £1,545,237 (2021: £1,567,296) which is included within other creditors due within one year.

8. CONTROLLING PARTY

The controlling party is T R Lincoln.