Betula Ascot Limited 31/05/2018 iXBRL
Betula Ascot Limited 31/05/2018 iXBRL
Company registration number:
08009303
Unaudited financial statements
Year ended
Contents
Directors and other information
Directors report
Accountants report
Statement of income and retained earnings
Statement of financial position
Notes to the financial statements
Directors and other information
Directors |
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Company number |
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Registered office |
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Accountants |
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Amba House, 2nd Floor Delson Suite | ||
15 College Road | ||
Harrow | ||
HA1 1BA | ||
Directors report
Year ended 31 May 2018
The directors present their report and the unaudited financial statements of the company for the year ended 31 May 2018.
Directors
The directors who served the company during the year were as follows:
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Small company provisions
This report was approved by the board of directors on
25 February 2019
and signed on behalf of the board by:
Director
Date: 25 February 2019
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Betula Ascot Limited
Year ended 31 May 2018
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Betula Ascot Limited for the year ended 31 May 2018 which comprise the statement of income and retained earnings, statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/ rules-standards/acca-rulebook.html.
This report is made solely to the board of directors of Betula Ascot Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Betula Ascot Limited and state those matters that we have agreed to state to the board of directors of Betula Ascot Limited as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global /Technical/fact/technical-factsheet-163.pdf..
To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Betula Ascot Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Betula Ascot Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Betula Ascot Limited. You consider that Betula Ascot Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Betula Ascot Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Chartered Certified Accountants
Amba House, 2nd Floor Delson Suite
15 College Road
Harrow
HA1 1BA
Date:
Statement of income and retained earnings
Year ended 31 May 2018
2018 | 2017 | |||||
Note | £ | £ | ||||
Turnover | - | - | ||||
Administrative expenses |
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Operating loss |
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Loss before taxation |
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Tax on loss | 4 | - | - | |||
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Loss for the financial year and total comprehensive income |
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Retained earnings at the start of the year |
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Retained earnings at the end of the year |
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All the activities of the company are from continuing operations.
Statement of financial position
31 May 2018
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Note | £ | £ | £ | £ | |||||
Fixed assets | |||||||||
Tangible assets | 5 |
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Current assets | |||||||||
Debtors | 6 |
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Creditors: amounts falling due | |||||||||
within one year | 7 |
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Net current liabilities |
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Total assets less current liabilities |
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Net liabilities |
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Capital and reserves | |||||||||
Called up share capital |
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Profit and loss account |
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Shareholders deficit |
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Directors responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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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 financial statements.
These financial statements were approved by the
board of directors
and authorised for issue on
25 February 2019
, and are signed on behalf of the board by:
Director
Company registration number:
08009303
Notes to the financial statements
Year ended 31 May 2018
1.
General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Amba House, 2nd Floor Delson Suite, 15 College Road, Harrow, HA1 1BA.
The principal activity of the company is that of holding of the property in Ascot.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Taxation
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset less its residual value, over the useful economic life of that asset.
Freehold property | - | Not depreciated | |
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
4.
Tax on loss
No provision for corporation tax liabilities has been made in these financial statements due to tax losses incurred during the year.
5.
Tangible assets
Freehold property | Total | ||
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Cost | |||
At 1 June 2017 and 31 May 2018 |
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Depreciation | |||
At 1 June 2017 and 31 May 2018 | - | - | |
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Carrying amount | |||
At 31 May 2018 |
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At 31 May 2017 |
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Debtors
2018 | 2017 | |||
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Other debtors |
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7.
Creditors: amounts falling due within one year
2018 | 2017 | |||
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Other creditors |
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At the year end other creditors include an amount of £3,380,499 (31 May 2017 - £3,308,961) as shareholders loan.
8.
Controlling party
During the year, the company was controlled by director and shareholders of the company.