Berkeley Square Developments Limited Filleted accounts for Companies House (small and micro)

Berkeley Square Developments Limited Filleted accounts for Companies House (small and micro)

BERKELEY SQUARE DEVELOPMENTS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 08123452
Berkeley Square Developments Limited
Filleted Unaudited Financial Statements
30 June 2019
Berkeley Square Developments Limited
Statement of Financial Position
30 June 2019
2019
2018
Note
£
£
£
Fixed assets
Tangible assets
4
409
526
Current assets
Stocks
–
7,013
Debtors
5
36,464
368,713
Cash at bank and in hand
1,819
–
--------
---------
38,283
375,726
Creditors: amounts falling due within one year
6
48,169
360,615
--------
---------
Net current (liabilities)/assets
( 9,886)
15,111
-------
--------
Total assets less current liabilities
( 9,477)
15,637
-------
--------
Net (liabilities)/assets
( 9,477)
15,637
-------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 9,577)
15,537
-------
--------
Shareholders (deficit)/funds
( 9,477)
15,637
-------
--------
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 income and retained earnings has not been delivered.
For the year ending 30 June 2019 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 .
Berkeley Square Developments Limited
Statement of Financial Position (continued)
30 June 2019
These financial statements were approved by the board of directors and authorised for issue on 15 May 2020 , and are signed on behalf of the board by:
J Carkeet
Director
Company registration number: 08123452
Berkeley Square Developments Limited
Notes to the Financial Statements
Year ended 30 June 2019
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 88 Sheep Street, Bicester, Oxfordshire, OX26 6LP.
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.
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.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures & Fittings
-
20% straight line
Equipment
-
20% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4. Tangible assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 1 July 2018
976
1,432
2,408
Additions
–
187
187
----
-------
-------
At 30 June 2019
976
1,619
2,595
----
-------
-------
Depreciation
At 1 July 2018
616
1,266
1,882
Charge for the year
195
109
304
----
-------
-------
At 30 June 2019
811
1,375
2,186
----
-------
-------
Carrying amount
At 30 June 2019
165
244
409
----
-------
-------
At 30 June 2018
360
166
526
----
-------
-------
5. Debtors
2019
2018
£
£
Trade debtors
33,655
366,595
Other debtors
2,809
2,118
--------
---------
36,464
368,713
--------
---------
6. Creditors: amounts falling due within one year
2019
2018
£
£
Bank loans and overdrafts
3
1,956
Trade creditors
44,666
350,967
Corporation tax
1,010
1,951
Social security and other taxes
–
3,251
Other creditors
2,490
2,490
--------
---------
48,169
360,615
--------
---------
7. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
Balance brought forward and outstanding
2019
2018
£
£
J Carkeet
( 170)
( 170)
----
----