ACCOUNTS - Final Accounts preparation

BEVIAN LONDON PROPERTIES LIMITED - Company Information

Caseware UK (AP4) 2023.0.135 2023.0.135 2023-03-312023-03-3102022-04-01false0No description of principal activitytruetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 1377123 2022-04-01 2023-03-31 1377123 2021-04-01 2022-03-31 1377123 2023-03-31 1377123 2022-03-31 1377123 c:Director3 2022-04-01 2023-03-31 1377123 d:CurrentFinancialInstruments 2023-03-31 1377123 d:CurrentFinancialInstruments 2022-03-31 1377123 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 1377123 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 1377123 d:ShareCapital 2023-03-31 1377123 d:ShareCapital 2022-03-31 1377123 d:RetainedEarningsAccumulatedLosses 2023-03-31 1377123 d:RetainedEarningsAccumulatedLosses 2022-03-31 1377123 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-03-31 1377123 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-03-31 1377123 c:OrdinaryShareClass1 2022-04-01 2023-03-31 1377123 c:OrdinaryShareClass1 2023-03-31 1377123 c:OrdinaryShareClass1 2022-03-31 1377123 c:FRS102 2022-04-01 2023-03-31 1377123 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 1377123 c:FullAccounts 2022-04-01 2023-03-31 1377123 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 1377123 2 2022-04-01 2023-03-31 1377123 6 2022-04-01 2023-03-31 1377123 e:PoundSterling 2022-04-01 2023-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 1377123

BEVIAN LONDON PROPERTIES LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

BEVIAN LONDON PROPERTIES LIMITED

REGISTERED NUMBER: 1377123

BALANCE SHEET

AS AT 31 MARCH 2023

		2023		2022
Note		£		£

Fixed assets
Investments	4		100		100
			100		100
Current assets
Stocks		1,234,359		1,234,359
Debtors: amounts falling due within one year	5	504,386		64,509
Cash at bank and in hand	6	278,275		732,275
		2,017,020		2,031,143
Creditors: amounts falling due within one year	7	(255,598)		(341,452)
Net current assets			1,761,422		1,689,691
Total assets less current liabilities			1,761,522		1,689,791

Net assets			1,761,522		1,689,791

Capital and reserves
Called up share capital	9	99	99
Profit and loss account		1,761,423	1,689,692
		1,761,522	1,689,791

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 19 December 2023.

Z V Fox

Director

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BEVIAN LONDON PROPERTIES LIMITED

REGISTERED NUMBER: 1377123

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2023

The notes on pages 3 to 7 form part of these financial statements.

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BEVIAN LONDON PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

1.	General information

Bevian London Properties Limited is a private company limited by shares and registered, domiciled and incorporated in England and Wales.
The registered office and principal place of business is 46 Redington Road, London, NW3 7RS.
The principal activity of the company is property development for resale.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The financial statements are presented in pound sterling which is the functional currency of the company and have been rounded to the nearest £.

The following principal accounting policies have been applied:

2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Turnover represents rent receivable, net of Value Added Tax amd proceeds from the disposal of properties.

2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

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BEVIAN LONDON PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.10

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

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BEVIAN LONDON PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

2.10

Financial instruments (continued)

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date.

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

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BEVIAN LONDON PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

2.10

Financial instruments (continued)

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

Employees

	The Company has no employees other than the directors, who did not receive any remuneration (2022 - £NIL).
	The average monthly number of employees, including directors, during the year was 0 (2022 - 0).

4.	Fixed asset investments

		Investments in subsidiary companies
		£
	Cost or valuation
	At 1 April 2022	100
	At 31 March 2023	100

Debtors

					2023	2022
					£	£


Trade debtors	2,081	288
Other debtors	495,393	60,668
Prepayments and accrued income	6,912	3,553
	504,386	64,509

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BEVIAN LONDON PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

6.	Cash and cash equivalents
		2023	2022
		£	£

Cash at bank and in hand	278,275	732,275
	278,275	732,275

7.	Creditors: Amounts falling due within one year
		2023	2022
		£	£

Corporation tax	-	70,807
Other creditors	252,898	267,444
Accruals and deferred income	2,700	3,201
	255,598	341,452

8.	Financial instruments
		2023	2022
		£	£

	Financial assets
	Financial assets measured at fair value through profit or loss	278,275	732,275

Financial assets measured at fair value through profit or loss comprise cash at bank.

9.	Share capital
		2023	2022
		£	£

Allotted, called up and fully paid

99 (2022 - 99) Ordinary shares of £1.00 each	99	99

10.	Related party transactions
	At the balance sheet date at 31 March 2023, the company owed £243,879 (2022: £258,873) to other subsidiaries in the group and was owed £347,219 (2022: £nil) from other subsidiaries in the group.

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