Beacon Hill Garage Limited - Limited company accounts 18.2
Beacon Hill Garage Limited - Limited company accounts 18.2
| REGISTERED NUMBER: |
| REPORT OF THE DIRECTOR AND |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2019 |
| FOR |
| BEACON HILL GARAGE LIMITED |
| BEACON HILL GARAGE LIMITED (REGISTERED NUMBER: 00591566) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2019 |
| Page |
| Company Information | 1 |
| Report of the Director | 2 |
| Income Statement | 3 |
| Balance Sheet | 4 |
| Notes to the Financial Statements | 6 |
| BEACON HILL GARAGE LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 MARCH 2019 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 25 St Thomas Street |
| Winchester |
| Hampshire |
| SO23 9HJ |
| BEACON HILL GARAGE LIMITED (REGISTERED NUMBER: 00591566) |
| REPORT OF THE DIRECTOR |
| FOR THE YEAR ENDED 31 MARCH 2019 |
| The director presents his report with the financial statements of the company for the year ended 31 March 2019. |
| PRINCIPAL ACTIVITY |
| The principal activity of the company in the year under review was that of property investment. |
| DIRECTOR |
| This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small |
| companies. |
| ON BEHALF OF THE BOARD: |
| BEACON HILL GARAGE LIMITED (REGISTERED NUMBER: 00591566) |
| INCOME STATEMENT |
| FOR THE YEAR ENDED 31 MARCH 2019 |
| 31.3.19 | 31.3.18 |
| Notes | £ | £ |
| TURNOVER |
| Cost of sales |
| GROSS PROFIT |
| Administrative expenses |
| OPERATING PROFIT | 4 |
| Interest receivable and similar income |
| 221,928 | 250,460 |
| Interest payable and similar expenses |
| PROFIT BEFORE TAXATION |
| Tax on profit |
| PROFIT FOR THE FINANCIAL YEAR |
| BEACON HILL GARAGE LIMITED (REGISTERED NUMBER: 00591566) |
| BALANCE SHEET |
| 31 MARCH 2019 |
| 31.3.19 | 31.3.18 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 5 |
| Investment property | 6 |
| CURRENT ASSETS |
| Debtors | 7 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
9 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Revaluation reserve | 11 |
| Capital redemption reserve |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The director acknowledges his responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| BEACON HILL GARAGE LIMITED (REGISTERED NUMBER: 00591566) |
| BALANCE SHEET - continued |
| 31 MARCH 2019 |
| The financial statements were approved by the director on |
| BEACON HILL GARAGE LIMITED (REGISTERED NUMBER: 00591566) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2019 |
| 1. | STATUTORY INFORMATION |
| Beacon Hill Garage Limited is a |
| company's registered number and registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
| value added tax and other sales taxes. |
| Tangible fixed assets |
| Improvements to property | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to |
| the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
| substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
| sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from |
| those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that |
| have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the |
| timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they |
| will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
| lease. |
| Investment properties |
| Investment properties are measured at fair value at each reporting date with changes in fair value recognised |
| through the profit and loss account. The gain or loss is credited to the revaluation reserve. |
| BEACON HILL GARAGE LIMITED (REGISTERED NUMBER: 00591566) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2019 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | OPERATING PROFIT |
| The operating profit is stated after charging: |
| 31.3.19 | 31.3.18 |
| £ | £ |
| Depreciation - owned assets |
| 5. | TANGIBLE FIXED ASSETS |
| Improvements | Fixtures |
| to | Plant and | and | Motor |
| property | machinery | fittings | vehicles | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 April 2018 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 March 2019 |
| DEPRECIATION |
| At 1 April 2018 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 March 2019 |
| NET BOOK VALUE |
| At 31 March 2019 |
| At 31 March 2018 |
| 6. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 April 2018 |
| and 31 March 2019 |
| NET BOOK VALUE |
| At 31 March 2019 |
| At 31 March 2018 |
| If investment properties had not been revalued they would have been included at the following historical cost |
| £2,730,477 (2018: £2,730,477). |
| BEACON HILL GARAGE LIMITED (REGISTERED NUMBER: 00591566) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2019 |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.3.19 | 31.3.18 |
| £ | £ |
| Other debtors |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.3.19 | 31.3.18 |
| £ | £ |
| Bank loans and overdrafts |
| Taxation and social security |
| Other creditors |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.3.19 | 31.3.18 |
| £ | £ |
| Bank loans |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 1,076,477 | 1,206,342 |
| 10. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 31.3.19 | 31.3.18 |
| £ | £ |
| Bank loans |
| 11. | RESERVES |
| Revaluation |
| reserve |
| £ |
| At 1 April 2018 |
| and 31 March 2019 |
| 12. | ULTIMATE CONTROLLING PARTY |
| The controlling party is T J Budge. |