Beaufort Commercial Property Ltd
Beaufort Commercial Property Ltd
Registered number: 08413388
Unaudited Financial Statements
For The Year Ended 28 February 2019
Lewis Ballard BBB Ltd
Beaufort Commercial Property Ltd
Unaudited Financial Statements
For The Year Ended 28 February 2019
Unaudited Financial Statements
| Contents | |
| Page | |
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| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—5 |
Beaufort Commercial Property Ltd
Balance Sheet
As at
28 February 2019
Balance Sheet
Registered number:
08413388
For the year ending 28 February 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| 2019 | 2018 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 3 |
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| CURRENT ASSETS | |||||
| Debtors | 4 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 5 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 6 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | (8,400) | (3,908) | |||
Page 1
Beaufort Commercial Property Ltd
Balance Sheet (continued)
As at
28 February 2019
Directors' responsibilities:
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The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. -
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
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The notes on pages 3 to 5 form part of these financial statements.
Page 2
Beaufort Commercial Property Ltd
Notes to the Financial Statements
For The Year Ended 28 February 2019
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
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| Fixtures & Fittings |
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1.4.
Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.
Average Number of Employees
Average number of employees, including directors, during the year was as follows:
| 2019 | 2018 | ||
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| Office and administration |
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Page 3
Beaufort Commercial Property Ltd
Notes to the Financial Statements (continued)
For The Year Ended 28 February 2019
3.
Tangible Assets
| Investment Properties | Fixtures & Fittings | Total | |
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| £ | £ | £ | |
| Cost | |||
| As at |
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| Depreciation | |||
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| Provided during the period | 4,294 |
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| Net Book Value | |||
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4.
Debtors
| 2019 | 2018 | ||
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| £ | £ | ||
| Due within one year | |||
| Prepayments and accrued income |
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| VAT |
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5.
Creditors: Amounts Falling Due Within One Year
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| £ | £ | ||
| Trade creditors |
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| Other creditors |
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| Accrued expenses |
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| Directors' loan accounts |
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Page 4
Beaufort Commercial Property Ltd
Notes to the Financial Statements (continued)
For The Year Ended 28 February 2019
7.
Related Party Transactions
At the balance sheet date, the company owed the directors £24,791 (2018: £23,562).
Dr R Gidney & Mrs R Gidney, who are directors of Beaufort Commercial Property Ltd are also directors of Beaufort Dental Care Ltd. During the year under review, Beaufort Commerical Property Ltd invoiced Beaufort Dental Care Ltd for sales to the value of £40,734 (2018: £40,544); all transactions were carried out at arms length.
As at the year end, Beaufort Commerical Property Ltd owed Beaufort Dental Care Ltd £773 (2018: £773); this amount has been shown within Creditors falling due within one year.
8.
Ultimate Controlling Party
The company's ultimate controlling party is Dr R Gidney and Mrs R Gidney by virtue of their ownership of 100% of the issued share capital in the company.
9.
General Information
Beaufort Commercial Property Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08413388 . The registered office is Celtic House, Caxton Place, Pentwyn, Cardiff, CF23 8HA.
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