BLAKEMEAD LIMITED Filleted accounts for Companies House (small and micro)

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COMPANY REGISTRATION NUMBER: 02541034

BLAKEMEAD LIMITED

Filleted Unaudited Financial Statements

30 September 2018

BLAKEMEAD LIMITED

Statement of Financial Position

30 September 2018

	2018		2017
Note	£	£	£

Fixed assets

Tangible assets	4		1,750,000	1,750,000

Current assets

Debtors	5	293,041	300,491
Cash at bank and in hand		87,957	95,099
		---------	---------
		380,998	395,590

Creditors: amounts falling due within one year	6	129,742		136,429
		---------		---------
Net current assets			251,256	259,161
			------------	------------
Total assets less current liabilities			2,001,256	2,009,161

Creditors: amounts falling due after more than one year	7		607,506	647,980

Provisions

Taxation including deferred tax	110,000	110,000
	------------	------------
Net assets	1,283,750	1,251,181
	------------	------------

Capital and reserves

Called up share capital	2	2
Revaluation reserve	886,096	886,096
Profit and loss account	397,652	365,083
	------------	------------
Shareholders funds	1,283,750	1,251,181
	------------	------------

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 comprehensive income has not been delivered.

For the year ending 30 September 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 .

BLAKEMEAD LIMITED

Statement of Financial Position (continued)

30 September 2018

These financial statements were approved by the board of directors and authorised for issue on 24 May 2019 , and are signed on behalf of the board by:

Mr A Mendelsohn

Director

Company registration number: 02541034

BLAKEMEAD LIMITED

Notes to the Financial Statements

Year ended 30 September 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 Hallswelle House, 1 Hallswelle Road, London, NW11 0DH.

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.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Tangible assets

	Land and buildings
	£
Valuation
At 1 October 2017 and 30 September 2018	1,750,000
	------------
Depreciation
At 1 October 2017 and 30 September 2018	–
	------------
Carrying amount
At 30 September 2018	1,750,000
	------------
At 30 September 2017	1,750,000
	------------

5. Debtors

	2018	2017
	£	£
Other debtors	293,041	300,491
	---------	---------

6. Creditors: amounts falling due within one year

	2018	2017
	£	£
Bank loans and overdrafts	52,620	52,403
Corporation tax	7,639	14,894
Other creditors	69,483	69,132
	---------	---------
	129,742	136,429
	---------	---------

7. Creditors: amounts falling due after more than one year

	2018	2017
	£	£
Bank loans and overdrafts	607,506	647,980
	---------	---------