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Unaudited Financial Statements for the Year Ended 28 February 2018 |
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Bestowe Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 28 February 2018 |
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for |
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Bestowe Limited |
Bestowe Limited (Registered number: 05693720) |
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Contents of the Financial Statements |
for the Year Ended 28 February 2018 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Bestowe Limited |
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Company Information |
for the Year Ended 28 February 2018 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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64 Wilbury Way |
Hitchin |
Hertfordshire |
SG4 0TP |
Bestowe Limited (Registered number: 05693720) |
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Balance Sheet |
28 February 2018 |
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28.2.17 | 28.2.18 |
£ | £ | Notes | £ | £ |
FIXED ASSETS |
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Tangible assets | 3 |
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Investment property | 4 |
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CURRENT ASSETS |
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Debtors | 5 |
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Cash at bank |
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CREDITORS |
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Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
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) | Amounts falling due after more than one year | 7 | ( |
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) | PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
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Called up share capital |
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Non-distributable reserves | 9 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The director acknowledges his responsibilities for: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006
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(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. |
Bestowe Limited (Registered number: 05693720) |
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Balance Sheet - continued |
28 February 2018 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director on
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Bestowe Limited (Registered number: 05693720) |
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Notes to the Financial Statements |
for the Year Ended 28 February 2018 |
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1. | STATUTORY INFORMATION |
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Bestowe Limited is a
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number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Tangible fixed assets |
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Plant and machinery etc | - |
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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. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet |
date. |
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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. |
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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. |
Bestowe Limited (Registered number: 05693720) |
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Notes to the Financial Statements - continued |
for the Year Ended 28 February 2018 |
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3. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1 March 2017 |
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Additions |
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At 28 February 2018 |
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DEPRECIATION |
At 1 March 2017 |
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Charge for year |
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At 28 February 2018 |
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NET BOOK VALUE |
At 28 February 2018 |
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At 28 February 2017 |
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4. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
At 1 March 2017 |
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Disposals | ( |
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Revaluations | (359,500 | ) |
At 28 February 2018 |
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NET BOOK VALUE |
At 28 February 2018 |
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At 28 February 2017 |
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Fair value at 28 February 2018 is represented by: |
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Valuation in 2009 | 345,291 |
Valuation in 2010 | 430,000 |
Valuation in 2011 | 210,000 |
Valuation in 2013 | (184,716 | ) |
Valuation in 2014 | (153,484 | ) |
Valuation in 2015 | 631,543 |
Valuation in 2016 | 562,400 |
Valuation in 2017 | (818,312 | ) |
Valuation in 2018 | (453,373 | ) |
Cost | 1,471,151 |
2,040,500 |
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The investment properties were valued on an open market basis on 28 February 2018 by Mr Sunil Dhown . |
Bestowe Limited (Registered number: 05693720) |
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Notes to the Financial Statements - continued |
for the Year Ended 28 February 2018 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
28.2.18 | 28.2.17 |
£ | £ |
Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
28.2.18 | 28.2.17 |
£ | £ |
Taxation and social security |
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Other creditors |
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7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
28.2.18 | 28.2.17 |
£ | £ |
Other creditors |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Mortgage lenders | 1,654,461 | 1,867,483 |
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8. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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28.2.18 | 28.2.17 |
£ | £ |
Other loans |
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The loans outstanding to the mortgage lenders are secured by the relevant investment properties owned by the company. |
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9. | RESERVES |
Non-distributable |
reserves |
£ |
At 1 March 2017 |
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Reserves transfer | (453,373 | ) |
Deferred tax on revaluation | 84,042 |
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At 28 February 2018 |
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Bestowe Limited (Registered number: 05693720) |
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Notes to the Financial Statements - continued |
for the Year Ended 28 February 2018 |
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10. | RELATED PARTY DISCLOSURES |
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The company was controlled throughout the current and previous period by the director Mr Sunil Dhown by virtue of the |
fact that he owned 100% of the company's issued share capital. |
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At the year end, there was a loan outstanding to Mr Sunil Dhown of £58 (2017 - £655,689). An amount outstanding from |
the company to N C Morris & Co at the year end of £502 was personally guaranteed by Mr Sunil Dhown. |
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At the year end, the company was owed £754,834 (2017 - £1,134,309) by S D Investments (UK) Limited which is a |
company under common control. |
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At the year end, the company owed £80,620 (2017 the company was owed - £281,962) to IRD Homes (London) Limited |
which is a company under common control. |
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During the year, the company paid management charges of £88,000 (2017 - £88,000) to ASL Down Angels SEZC which is |
a company controlled by the director Mr S Dhown. |
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During the year, the company paid and declared dividends of £82,000 to Mr Sunil Dhown. |
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