Berkeley Square Developments Limited Filleted accounts for Companies House (small and micro)

BERKELEY SQUARE DEVELOPMENTS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 08123452

Berkeley Square Developments Limited

Filleted Unaudited Financial Statements

30 June 2018

Berkeley Square Developments Limited

Statement of Financial Position

30 June 2018

	2018		2017
Note	£	£	£

Fixed assets

Tangible assets	4		526	699

Current assets

Stocks		43,013	43,013
Debtors	5	368,713	6,767
Cash at bank and in hand		–	11,429
		---------	--------
		411,726	61,209

Creditors: amounts falling due within one year	6	367,455		50,253
		---------		--------
Net current assets			44,271	10,956
			--------	--------
Total assets less current liabilities			44,797	11,655
			--------	--------
Net assets			44,797	11,655
			--------	--------

Capital and reserves

Called up share capital	100	100
Profit and loss account	44,697	11,555
	--------	--------
Shareholders funds	44,797	11,655
	--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 30 June 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- 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 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Berkeley Square Developments Limited

Statement of Financial Position (continued)

30 June 2018

These financial statements were approved by the board of directors and authorised for issue on 28 March 2019 , and are signed on behalf of the board by:

J Carkeet

Director

Company registration number: 08123452

Berkeley Square Developments Limited

Notes to the Financial Statements

Year ended 30 June 2018

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 88 Sheep Street, Bicester, Oxfordshire, OX26 6LP.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

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 as follows:

Fixtures & Fittings	-	20% straight line
Equipment	-	20% straight line

Impairment of fixed assets

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.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

4. Tangible assets

	Fixtures and fittings	Equipment	Total
	£	£	£
Cost
At 1 July 2017	702	1,432	2,134
Additions	274	–	274
	----	-------	-------
At 30 June 2018	976	1,432	2,408
	----	-------	-------
Depreciation
At 1 July 2017	421	1,014	1,435
Charge for the year	195	252	447
	----	-------	-------
At 30 June 2018	616	1,266	1,882
	----	-------	-------
Carrying amount
At 30 June 2018	360	166	526
	----	-------	-------
At 30 June 2017	281	418	699
	----	-------	-------

5. Debtors

	2018	2017
	£	£
Trade debtors	366,595	–
Other debtors	2,118	6,767
	---------	-------
	368,713	6,767
	---------	-------

6. Creditors: amounts falling due within one year

	2018	2017
	£	£
Bank loans and overdrafts	1,956	3
Trade creditors	350,967	46,801
Corporation tax	8,791	959
Social security and other taxes	3,251	–
Other creditors	2,490	2,490
	---------	--------
	367,455	50,253
	---------	--------

7. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	Balance brought forward and outstanding
	2018	2017
	£	£
J Carkeet	( 170)	( 170)
	----	----