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Company Registration No. 03423607
BYRNE GROUP RESIDENTIAL LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 30 NOVEMBER 2018
Riordan O'Sullivan & Co
Chartered Certified Accountants
40 Chamberlayne Road
London
NW10 3JE
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BYRNE GROUP RESIDENTIAL LIMITED
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CONTENTS
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Notes to the Financial Statements
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BYRNE GROUP RESIDENTIAL LIMITED
REGISTERED NUMBER:03423607
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BALANCE SHEET
AS AT 30 NOVEMBER 2018
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
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Anthony Dowle
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BYRNE GROUP RESIDENTIAL LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2018
Byrne Group Residential Limited is a private company limited by shares incorporated in England and Wales. The registered office is First Floor, 85 Great Portland Street, London, England, W1W 7LT.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.
The following principal accounting policies have been applied:
The company incured a loss for the year of £16,814 (prior year loss £153,518) and had a shareholders' deficit at the balance sheet date of £216,366 (prior year £199,522). The company continues to be supported by Anthony Dowle (a director of the company) and its related undertakings for a period of not less than 12 months from the date of approval of the financial statements. The company is currently engaged to construct 3 town houses in south east London, a project that will continue into the next financial year.
The directors consider that it is appropriate to prepare the financial statements on the going concern basis which assumes that the company will continue in operational existence for the forseeable future.
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BYRNE GROUP RESIDENTIAL LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2018
2.Accounting policies (continued)
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Sale of goods
Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
∙the Company has transferred the significant risks and rewards of ownership to the buyer;
∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
∙the amount of revenue can be measured reliably;
∙it is probable that the Company will receive the consideration due under the transaction; and
∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
∙the amount of revenue can be measured reliably;
∙it is probable that the Company will receive the consideration due under the contract;
∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and
∙the costs incurred and the costs to complete the contract can be measured reliably.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Finance costs are charged to the Profit and Loss Account over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
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The average monthly number of employees, including directors, during the year was 2 (2017 - 3).
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BYRNE GROUP RESIDENTIAL LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2018
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Amounts owed by joint ventures and associated undertakings
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Creditors: Amounts falling due within one year
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Amounts owed to related undertakings
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Other taxation and social security
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Accruals and deferred income
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Allotted, called up and fully paid
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100 Ordinary shares of £1.00 each
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BYRNE GROUP RESIDENTIAL LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2018
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Related party transactions
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The company is related to Byrne Group Residential Developments Limited, NE 55 Limited and City Developments Group Limited by virtue of being under common control of Anthony Dowle.
During the period, £217,944 was owed to related undertakings of which project fees of £153,944 (2017 - £153,944) was owed to NE 55 Limited and loans of £64,000 (2017: £Nil) was owed to City Developments Group Limited.
During the period, project fees of £23,601 (2017 - £20,000) was receivable from Byrne Group Residential Developments Limited, of which £2,703 was outstanding at 30 November 2018.
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Post balance sheet events
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There were no events since the year end which materially affected the company.
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