Blenheim Land & Properties Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04715948

Unaudited Financial Statements

for the Year Ended 31st August 2019

for

Blenheim Land & Properties Ltd

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C J Anderson

K Hatfield

REGISTERED OFFICE:

Suite 2 Sheffield Design Studios

Lion Works

40 Ball Street

Sheffield

S3 8DB

REGISTERED NUMBER:

04715948

FIXED ASSETS

Tangible assets

4

-

124

CURRENT ASSETS

Stocks

10,407,366

9,881,222

Debtors

186,983

129,263

Cash at bank and in hand

18,282

54,888

10,612,631

10,065,373

CREDITORS

Amounts falling due within one year

6,756,749

6,196,268

NET CURRENT ASSETS

3,855,882

3,869,105

TOTAL ASSETS LESS CURRENT LIABILITIES

3,855,882

3,869,229

CREDITORS

Amounts falling due after more than one year

(1,810,003

)

(1,863,392

)

PROVISIONS FOR LIABILITIES

-

(24

)

NET ASSETS

2,045,879

2,005,813

CAPITAL AND RESERVES

Called up share capital

3

3

Revaluation reserve

302,480

302,480

Retained earnings

1,743,396

1,703,330

2,045,879

2,005,813

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st August 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 2019 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31st August 2019 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27th August 2020 and were signed on its behalf by:

C J Anderson - Director

1.	STATUTORY INFORMATION

Blenheim Land & Properties Ltd is a private company, limited by shares , registered in Not specified/Other. The

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

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going Concern

The directors have considered the potential impact of COVID-19 on the principal activities of the business and

they believe that they have sufficient resources in place to operate for the foreseeable future. Thus, they continue

to adopt the going concern basis of accounting in 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

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Financial instruments

The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank

loans, and directors' loans.

Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest,

and subsequently at amortised cost using the effective interest method.

Directors' loans (being payable on demand), trade debtors and trade creditors are measured at the undiscounted

amount of the cash consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective

evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the

Income Statement.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and

Retained Earnings, 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2018 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1st September 2018

and 31st August 2019

31,029

DEPRECIATION

At 1st September 2018

30,905

Charge for year

124

At 31st August 2019

31,029

NET BOOK VALUE

At 31st August 2019

-

At 31st August 2018

124

5.	POST BALANCE SHEET EVENTS

In March 2020, the UK was impacted by the outbreak of COVID-19. In order to manage the spread of the virus

the Government has imposed significant restrictions on the movement of people and the ability of businesses to

continue to trade. This event occurred after the company’s reporting period and so is considered to be a

non-adjusting event. Accordingly, the balance sheet and profit and loss for the year end 31st August 2019 have

not been adjusted to reflect their impact.

The Directors acknowledge the increasing risk from COVID-19 and have sought to mitigate their risk by

carrying out a thorough review of the business as discussed below:

Government assistance

The business has taken advantage of the government grants and furloughing scheme whereby the company has

furloughed 3 staff members which has resulted in the reduction of the wage cost.