Company No:
Contents
DIRECTORS | P D Dean |
S L Dean | |
S J Rutt | |
A F Screech |
REGISTERED OFFICE | Beeches Farm |
Icknield Way | |
Tring | |
HP23 4LA | |
United Kingdom |
COMPANY NUMBER | 07772861 (England and Wales) |
Note | 2022 | 2021 | ||
£ | £ | |||
Restated - note 2 | ||||
Fixed assets | ||||
Tangible assets | 4 |
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Investment property | 5 |
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Investments | 6 |
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15,781,305 | 6,651,299 | |||
Current assets | ||||
Stocks |
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Debtors | 7 |
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Cash at bank and in hand |
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38,493,336 | 37,184,661 | |||
Creditors: amounts falling due within one year | 8 | (
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Net current assets | 1,982,636 | 3,935,122 | ||
Total assets less current liabilities | 17,763,941 | 10,586,421 | ||
Provision for liabilities | 9 | (
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Net assets |
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Capital and reserves | ||||
Called-up share capital |
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Profit and loss account |
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Total shareholders' funds |
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Directors' responsibilities:
The financial statements of Beeches Property (Tring) Limited (registered number:
S J Rutt
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Beeches Property (Tring) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Beeches Farm, Icknield Way, Tring, HP23 4LA, United Kingdom.
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.
The financial statements have been prepared under the historical cost convention except where otherwise stated.
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 accounts.
Group accounts exemption s399
As the company is subject to the small companies regime, group accounts have not been prepared.
Development turnover is recognised in the accounts upon exchange of contracts or on satisfaction of relevant conditions when conditional contracts have been exchanged.
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.
Deferred tax
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.
Vehicles |
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Fixtures and fittings |
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Office equipment |
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Investments in subsidiary undertakings are recognised at cost.
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments.
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs.
The preference share capital is classified as equity. Any accrued and unpaid preference share dividends are recognised as a liability.
A prior period restatement has been made for the year ended 28 September 2021 to recognise the accrued dividend due on preference shares. The retained earnings as at 28 September 2020 has been reduced by £1,298,592 and a dividend accrued for the year ended 28 September 2021 has reduced the profit by £216,000. As a result of this adjustment an amount accrued to preference shares holders of £1,514,592 has been recognised as at 28 September 2021. The net assets at 28 September 2021 have been reduced by £1,514,592 from £11,501,175 to £9,986,583.
2022 | 2021 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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Vehicles | Fixtures and fittings | Office equipment | Total | ||||
£ | £ | £ | £ | ||||
Cost | |||||||
At 29 September 2021 |
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At 28 September 2022 |
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Accumulated depreciation | |||||||
At 29 September 2021 |
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Charge for the financial year |
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At 28 September 2022 |
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Net book value | |||||||
At 28 September 2022 |
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At 28 September 2021 |
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Investment property | |
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Valuation | |
As at 29 September 2021 |
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Fair value movement | 3,712,539 |
Transfers to and from inventories | 5,421,604 |
As at 28 September 2022 |
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The fair value of the company's investment property was revalued on 28 September 2022. An independent valuer was not involved. Had this class of asset been measured on a historical cost basis, the carrying amount would have been £9,248,693 (2021 - £3,827,089).
Investments in subsidiaries
2022 | |
£ | |
Cost | |
At 29 September 2021 |
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0 | |
At 28 September 2022 |
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Carrying value at 28 September 2022 |
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Carrying value at 28 September 2021 |
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Investments in shares
Name of entity | Registered office | Nature of business | Class of shares |
Ownership 28.09.2022 |
Ownership 28.09.2021 |
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Beeches Farm, Icknield Way, Tring, Hertfordshire, HP23 4LA, United Kingdom | Property Business |
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2022 | 2021 | ||
£ | £ | ||
Trade debtors |
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Amounts owed by Group undertakings |
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Other debtors |
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2022 | 2021 | ||
£ | £ | ||
Bank loans (secured) |
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Trade creditors |
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Amounts owed to related parties |
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Amounts owed to directors |
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Taxation and social security |
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Other creditors |
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Other creditors includes £1,730,592 (2021 - £1,514,592) of accrued preference share dividends.
2022 | 2021 | ||
£ | £ | ||
At the beginning of financial year | (
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Charged to the Profit and Loss Account | (
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At the end of financial year | (
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Summary of transactions with subsidiaries
The company has provided a loan to it's subsidiary, Rockshine Limited, which is interest free and repayable upon demand. At the balance sheet date the amount due from Rockshine Limited was £4,098,073 (2021 - £11,375,088).
Summary of transactions with other related parties
The company's preference shareholders have provided a loan to the company which incurs interest at 3.0% per annum and is repayable upon demand. At the balance sheet date the amount due to these company shareholders was £21,926,019 (2021 - £28,165,454 ). In addition, preference dividends of £1,730,592 (2021 - £1,514,592) have accrued on the preference shares.