Focusplain Limited - Accounts to registrar (filleted) - small 18.2
Focusplain Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 30 June 2019 |
| for |
| Focusplain Limited |
| Focusplain Limited (Registered number: 03856318) |
| Contents of the Financial Statements |
| for the Year Ended 30 June 2019 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Focusplain Limited |
| Company Information |
| for the Year Ended 30 June 2019 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| Focusplain Limited (Registered number: 03856318) |
| Balance Sheet |
| 30 June 2019 |
| 2019 | 2018 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 5 |
| Tangible assets | 6 |
| Investments | 7 |
| CURRENT ASSETS |
| Debtors | 8 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 9 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
10 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Share premium |
| Capital contribution reserve |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their 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. |
| Focusplain Limited (Registered number: 03856318) |
| Balance Sheet - continued |
| 30 June 2019 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors on |
| Focusplain Limited (Registered number: 03856318) |
| Notes to the Financial Statements |
| for the Year Ended 30 June 2019 |
| 1. | STATUTORY INFORMATION |
| Focusplain Limited is a |
| registered number and registered office address can be found on the Company Information page. |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | STATEMENT OF COMPLIANCE |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable and represents the amount |
| receivable for goods supplied or services rendered, net of returns, discounts and rebates allowed by the |
| company and value added taxes. |
| Rental income |
| Income from the letting of property is recognised in the period to which it relates. |
| Government grants |
| Government grants are recognised based on the accrual model and are measured at the fair value of the asset |
| received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue |
| are recognised in income over the period in which the related costs are recognised. Grants relating to assets are |
| recognised over the expected useful life of the asset. |
| Goodwill |
| Goodwill, being the amount paid in connection with the acquisition of a business in 2003, was amortised evenly |
| over its estimated useful life of ten years. |
| Tangible fixed assets |
| Fixtures and fittings | - |
| Computer equipment | - |
| Tangible assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost |
| includes the original purchase price, costs directly attributable to bringing the asset to its working condition for its |
| intended use, dismantling and restoration costs and borrowing costs capitalised. |
| Investments in subsidiaries |
| Investment in subsidiary company is held at cost less accumulated impairment losses. |
| Financial instruments |
| Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the |
| effective interest method, less impairment losses for bad and doubtful debts except where the effect of |
| discounting would be immaterial. In such cases, the debtors are stated at cost less impairment losses for bad |
| and doubtful debts. |
| Basic financial liabilities, including trade and other creditors, bank loans, overdrafts and loans from fellow group |
| companies, are initially recognised at transaction price. Bank loans and other loans are subsequently carried at |
| amortised cost, using the effective interest method. |
| Cash and cash equivalents |
| Cash and cash equivalents includes cash in hand, deposits held at call with banks and other short-term highly |
| liquid investments with original maturities of three months or less. |
| Focusplain Limited (Registered number: 03856318) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 June 2019 |
| 3. | ACCOUNTING POLICIES - continued |
| 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. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
| scheme are charged to profit or loss in the period to which they relate. |
| Investment property |
| Investment properties for which fair value can be measured reliably without undue cost or effort on an ongoing |
| basis are measured at fair value annually with an change recognised in the profit and loss account. |
| Share capital |
| Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary |
| shares or options are shown in equity as a deduction, net of tax, from the proceeds. |
| Distributions to shareholders |
| Dividends and other distributions to company's shareholders are recognised as a liability in the financial |
| statements in the period in which the dividends and other distributions are approved by the company's |
| shareholders. These amounts are recognised in the statement of changes in equity. |
| Related party transactions |
| The company discloses transactions with related parties which are not wholly owned with the same group. It |
| does not disclose transactions with members of the same group that are wholly owned. |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 5. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 1 July 2018 |
| and 30 June 2019 |
| AMORTISATION |
| At 1 July 2018 |
| and 30 June 2019 |
| NET BOOK VALUE |
| At 30 June 2019 |
| At 30 June 2018 |
| Focusplain Limited (Registered number: 03856318) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 June 2019 |
| 6. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Freehold | and | Computer |
| property | fittings | equipment | Totals |
| £ | £ | £ | £ |
| COST OR VALUATION |
| At 1 July 2018 |
| Revaluations |
| At 30 June 2019 |
| DEPRECIATION |
| At 1 July 2018 |
| Charge for year |
| At 30 June 2019 |
| NET BOOK VALUE |
| At 30 June 2019 |
| At 30 June 2018 |
| Cost or valuation at 30 June 2019 is represented by: |
| Fixtures |
| Freehold | and | Computer |
| property | fittings | equipment | Totals |
| £ | £ | £ | £ |
| Valuation in 2017 | 1,328,075 | - | - | 1,328,075 |
| Valuation in 2019 | 311,275 | - | - | 311,275 |
| Cost | 1,793,154 | 55,977 | 14,126 | 1,863,257 |
| 3,432,504 | 55,977 | 14,126 | 3,502,607 |
| Investment properties were valued on an open market basis on 30 June 2019 by the directors . |
| 7. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 1 July 2018 |
| and 30 June 2019 |
| NET BOOK VALUE |
| At 30 June 2019 |
| At 30 June 2018 |
| 8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Amounts owed by group undertakings |
| Other debtors |
| Prepayments |
| Focusplain Limited (Registered number: 03856318) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 June 2019 |
| 9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Bank loans and overdrafts |
| Directors loan |
| Trade creditors |
| Tax |
| VAT | 822 | - |
| Other creditors |
| Directors' current accounts | 668 | 2,007 |
| Accruals and deferred income |
| 10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Bank loans - 1-2 years |
| Bank loans - 2-5 years |
| Bank loans |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans | 240,718 | 174,159 |
| 11. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2019 | 2018 |
| £ | £ |
| Bank loans |
| The bank loan is secured on some of the company's freehold properties. |
| 12. | RELATED PARTY DISCLOSURES |
| During the year the following dividends were paid |
| 2019 | 2018 |
| £ | £ |
| A J R Viney | 25,500 | 15,500 |
| Mrs S C Viney | 8,000 | 0 |
| R Viney Settlement | 0 | 0 |
| C Viney Settlement | 0 | 0 |
| 33,500 | 15,500 |
| In addition Mrs S C Viney waived dividends of £25,500 (2018 - £15,500) and Mr A Viney waived divdends of |
| £8,000 (2018 - £nil). |
| At the year end the following directors current account balances were due: |
| SC Viney - £603 due from the company (2018: £1,290) |
| AJR Viney - £65 due from the company (2018: £717) |
| The amounts are made interest free and are repayable on demand. |
| At the year end the company owed the directors £620,539 (2018: £749,245) by way of a loan. The loan is made |
| at an interest rate of 6% and is repayable on demand. |
| At the year end the company was owed £6,000 (2018: £6,000) by Logs for All Ltd. |
| Focusplain Limited (Registered number: 03856318) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 June 2019 |
| 13. | CONTROLLING PARTY |
| The controlling party is SC Viney & AJR Viney. |