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

REGISTERED NUMBER: 02789676 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2018

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

31

Investments

5

100

100

Investment property

6

440,000

440,000

440,121

440,131

CURRENT ASSETS

Debtors

7

296,705

323,943

Cash at bank

4,041

10,550

300,746

334,493

CREDITORS

Amounts falling due within one year

8

33,264

33,303

NET CURRENT ASSETS

267,482

301,190

TOTAL ASSETS LESS CURRENT LIABILITIES

707,603

741,321

PROVISIONS FOR LIABILITIES

9

58,500

59,166

NET ASSETS

649,103

682,155

CAPITAL AND RESERVES

Called up share capital

10

60

60

Retained earnings

649,043

682,095

SHAREHOLDERS' FUNDS

649,103

682,155

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 7th November 2018 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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 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 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 1 (2017 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1st April 2017

and 31st March 2018

1,599

DEPRECIATION

At 1st April 2017

1,568

Charge for year

10

At 31st March 2018

1,578

NET BOOK VALUE

At 31st March 2018

21

At 31st March 2017

31

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1st April 2017

and 31st March 2018

100

NET BOOK VALUE

At 31st March 2018

100

At 31st March 2017

100

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

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st April 2017

and 31st March 2018

440,000

NET BOOK VALUE

At 31st March 2018

440,000

At 31st March 2017

440,000

Fair value at 31st March 2018 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:

31/3/18

31/3/17

£

£

Cost

70,435

70,435

Investment property was valued on an open market basis on 31st March 2018 by the directors .

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/18

31/3/17

£

£

Trade debtors

5,587

8,144

Due from subsidiary company

214,173

241,173

Directors' current accounts

61,374

59,624

Tax

15,571

15,002

296,705

323,943

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/18

31/3/17

£

£

Tax

8,847

8,884

Other creditors

2,562

2,565

Accrued expenses

5,098

5,097

Accrued interest

16,757

16,757

33,264

33,303

9.	PROVISIONS FOR LIABILITIES

31/3/18

31/3/17

£

£

Deferred tax

58,500

59,166

Deferred

tax

£

Balance at 1st April 2017

59,166

Credit to Income Statement during year

(666

)

Balance at 31st March 2018

58,500

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/3/18

31/3/17

value:

£

£

60

Ordinary

£1

60

60

11.	CONTINGENT LIABILITIES

The company had no contingent liabilities at 31st March 2018 (2017 - None).

12.	CAPITAL COMMITMENTS

31/3/18

31/3/17

£

£

Contracted but not provided for in the

financial statements

-

-

13.	RELATED PARTY DISCLOSURES

At 31st March 2018 the sum of £61,374 (2017 - £59,624) 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 2018 the sum of £214,173 (2017 - £241,173) 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.