Registration number:
Year Ended
Beeches Property (Tring) Limited (Formerly Archaylen Property Limited)
Contents
Company Information |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
Beeches Property (Tring) Limited (Formerly Archaylen Property Limited)
Company Information
Directors |
A F Screech P D Dean S L Dean S J Rutt |
Company secretary |
A F Screech |
Registered office |
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Beeches Property (Tring) Limited (Formerly Archaylen Property Limited)
(Registration number: 07772861)
Balance Sheet as at 28 September 2021
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2021 |
2020 |
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Fixed assets |
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Tangible assets |
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Investment property |
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Investments |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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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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Profit and loss account |
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Total equity |
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For the financial year ending 28 September 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account and Directors' Report has been taken.
Beeches Property (Tring) Limited (Formerly Archaylen Property Limited)
(Registration number: 07772861)
Balance Sheet as at 28 September 2021
Approved and authorised by the
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S J Rutt
Director
Beeches Property (Tring) Limited (Formerly Archaylen Property Limited)
Statement of Changes in Equity
Year Ended 28 September 2021
Share capital |
Profit and loss account |
Total |
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At 29 September 2020 |
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Profit for the year |
- |
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Total comprehensive income |
- |
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At 28 September 2021 |
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Share capital |
Profit and loss account |
Total |
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At 29 September 2019 |
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Profit for the year |
- |
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Total comprehensive income |
- |
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At 28 September 2020 |
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Beeches Property (Tring) Limited (Formerly Archaylen Property Limited)
Notes to the Financial Statements
Year Ended 28 September 2021
General information |
The company is a private company limited by share capital incorporated in England and Wales.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention except where otherwise stated.
Group accounts not prepared
Going concern
The directors of the group undertaking creditor have confirmed that they will not seek repayment of the amount due for at least a further year from the date of approval of the accounts. Accordingly, the directors continue to adopt the going concern basis in preparing the annual report and accounts.
Reclassification of comparative amounts
Revenue recognition
Turnover comprises the fair value of the rents receivable on properties held as investments, together with proceeds from the sale of
properties that have been developed for resale.
Turnover is shown net of sales/value added tax, returns, rebates and discounts.
Development turnover is recognised in the accounts upon exchange of contracts or on satisfaction of relevant conditions when conditional contracts have been exchanged.
Beeches Property (Tring) Limited (Formerly Archaylen Property Limited)
Notes to the Financial Statements
Year Ended 28 September 2021
Tax
The tax expense for the period comprises current tax and deferred tax. Deferred tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The deferred tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Tangible assets
Tangible assets are stated at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Office equipment |
33% on cost |
Fixtures and fittings |
20% on cost |
Motor vehicles |
20% on reducing balance |
Investment property
Investments
Investments in subsidiary undertakings are recognised at cost.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand.
Trade debtors
Trade debtors are amounts due from customers for services performed in the ordinary course of business. Trade debtors are recognised at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtors.
Stocks
Stocks represents freehold properties that are held for resale and freehold properties that are under development which will be sold once completed. They are shown at the lower of cost and net realisable value. Cost includes the purchase price and associated development costs.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have anunconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. Trade creditors are recognised initially at the transaction price.
Beeches Property (Tring) Limited (Formerly Archaylen Property Limited)
Notes to the Financial Statements
Year Ended 28 September 2021
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Share capital
Ordinary shares are classified as equity.
Staff numbers |
The average number of persons employed by the company during the year was
Beeches Property (Tring) Limited (Formerly Archaylen Property Limited)
Notes to the Financial Statements
Year Ended 28 September 2021
Tangible assets |
Furniture, fittings and equipment |
Motor vehicles |
Total |
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Cost or valuation |
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At 29 September 2020 |
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Disposals |
- |
( |
( |
At 28 September 2021 |
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Depreciation |
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At 29 September 2020 |
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Charge for the year |
- |
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Eliminated on disposal |
- |
( |
( |
At 28 September 2021 |
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Carrying amount |
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At 28 September 2021 |
- |
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At 28 September 2020 |
- |
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Investment properties |
2021 |
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At 29 September 2020 |
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Fair value adjustments |
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At 28 September 2021 |
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The fair value of the company's investment property was revalued on 28 September 2021. An independent valuer was not involved. Had this class of asset been measured on a historical cost basis, the carrying amount would have been £3,931,610 (2020 - £3,931,610).
Beeches Property (Tring) Limited (Formerly Archaylen Property Limited)
Notes to the Financial Statements
Year Ended 28 September 2021
Investments |
2021 |
2020 |
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Investments in subsidiaries |
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Investments in other participating interests |
- |
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Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
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2021 |
2020 |
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Subsidiary undertakings |
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Beeches Farm, Icknield Way, Tring, Hertfordshire, United Kingdom, HP23 4LA |
100 £1 ordinary shares |
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United Kingdom |
Other participating interests |
£ |
Cost |
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At 29 September 2020 |
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Disposals |
( |
At 28 September 2021 |
- |
Carrying amount |
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At 28 September 2021 |
- |
At 28 September 2020 |
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Beeches Property (Tring) Limited (Formerly Archaylen Property Limited)
Notes to the Financial Statements
Year Ended 28 September 2021
Stocks |
2021 |
2020 |
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Work in progress |
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Debtors |
Note |
2021 |
2020 |
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Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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Other loans |
9,664,018 |
4,743,828 |
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Creditors |
Note |
2021 |
2020 |
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Due within one year |
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Bank loans and overdrafts |
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Trade creditors |
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Amounts due to related party |
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Taxation and social security |
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Other creditors |
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Amounts due to Directors |
225,333 |
5,281 |
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Beeches Property (Tring) Limited (Formerly Archaylen Property Limited)
Notes to the Financial Statements
Year Ended 28 September 2021
Loans and borrowings |
2021 |
2020 |
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Current loans and borrowings |
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Bank borrowings |
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Deferred tax and other provisions |
Deferred tax |
Total |
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At 29 September 2020 |
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Additional provisions |
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At 28 September 2021 |
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Related party transactions |
Summary of transactions with subsidiaries
Summary of transactions with other related parties