Berkshire Assets (Slough) 1 Limited - Period Ending 2019-03-31
Berkshire Assets (Slough) 1 Limited - Period Ending 2019-03-31
Registration number:
Berkshire Assets (Slough) 1 Limited
Filleted
for the Year Ended 31 March 2019
Berkshire Assets (Slough) 1 Limited
Contents
Statement of Financial Position |
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Notes to the Unaudited Financial Statements |
Berkshire Assets (Slough) 1 Limited
(Registration number: 10824158)
Statement of Financial Position as at 31 March 2019
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2019 |
2018 |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net assets/(liabilities) |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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For the financial year ending 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies' regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies' regime and the option not to file the Income Statement has been taken.
Approved and authorised by the
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Berkshire Assets (Slough) 1 Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2019
General information |
The company is a private company limited by share capital, incorporated in United Kingdom.
The address of its registered office is
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
As set out in the Director's Report, due to the company ceasing trade, the director has decided to prepare the financial statements on a basis other than of a going concern. The financial statements have been prepared on a break-up basis at the year end. In adopting the break-up basis at the year end the following policies and procedures were implemented:
- all assets have been disclosed at values at which they are expected to be realised;
- all liabilities reflect the full amount at which they are expected to materialise.
These financial statements are prepared in sterling which is the functional currency of the entity.
Going concern
As the company has ceased to trade, the director considers it inappropriate to prepare the financial statements on a going concern basis and therefore the director has prepared the financial statements on a break-up basis as set out under the basis of preparation.
Berkshire Assets (Slough) 1 Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2019 (continued)
2 |
Accounting policies (continued) |
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Borrowing costs
Borrowing costs that are directly attributable to the acquisition or construction of qualifying assets included in stocks are capitalised in the period in which they are incurred. All other costs are expensed.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Income Statement over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Berkshire Assets (Slough) 1 Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2019 (continued)
2 |
Accounting policies (continued) |
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Debtors |
2019 |
2018 |
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Other debtors |
- |
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- |
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Creditors |
Creditors: amounts falling due within one year
2019 |
2018 |
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Due within one year |
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Trade creditors |
- |
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Other creditors |
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Other creditors includes borrowings totalling £nil (2018: £613,265) which are secured against the assets of the company.
Berkshire Assets (Slough) 1 Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2019 (continued)
Parent undertaking |
The registered office of Berkshire Assets (Slough) Limited is C/o Mha Tait Walker, 1 Massey Road, Thornaby, Stockton-on-Tees, TS17 6DY.
The company’s financial statements are available from Companies House.