FIRST QUANTUM BROUGHTON LIMITED

FIRST QUANTUM BROUGHTON LIMITED

FIRST QUANTUM BROUGHTON LIMITED - Company Information

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FIRST QUANTUM BROUGHTON LIMITED

Company Registration Number:
07148132 (England and Wales)

Unaudited abridged accounts for the year ended 31 December 2019

Period of accounts

Start date: 01 January 2019

End date: 31 December 2019

FIRST QUANTUM BROUGHTON LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2019

Balance sheet
Notes

FIRST QUANTUM BROUGHTON LIMITED

Balance sheet

As at 31 December 2019


Notes
2019
2018


£
£
Current assets
Stocks:   880,000
Debtors:   1,085,487 1,041,623
Cash at bank and in hand: 964,383 115,056
Total current assets: 2,049,870 2,036,679
Creditors: amounts falling due within one year: 3 (538,774) (541,895)
Net current assets (liabilities): 1,511,096 1,494,784
Total assets less current liabilities: 1,511,096 1,494,784
Total net assets (liabilities): 1,511,096 1,494,784
Capital and reserves
Called up share capital: 10 10
Profit and loss account: 1,511,086 1,494,774
Shareholders funds: 1,511,096 1,494,784

The notes form part of these financial statements

FIRST QUANTUM BROUGHTON LIMITED

Balance sheet statements

For the year ending 31 December 2019 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 21 July 2020
and signed on behalf of the board by:

Name: Maximilian Mkhitarian
Status: Director

The notes form part of these financial statements

FIRST QUANTUM BROUGHTON LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2019

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.Turnover includes property development sales and related property income excluding Value Added Tax. A property sale is recognised at the point in time when the property is legally transferred to the purchaser.Service charge income and other related property income is included in turnover excluding Value Added Tax in the period in which the income relates to.

FIRST QUANTUM BROUGHTON LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2019

2. Employees

2019 2018
Average number of employees during the period 0 0

FIRST QUANTUM BROUGHTON LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2019

3. Creditors: amounts falling due within one year note

Creditors falling due within one year are:Trade creditors £1,262 (2018 £4,383)Amounts owed to group undertakings £537,512 (2018 £537,512)

FIRST QUANTUM BROUGHTON LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2019

4. Related party transactions

Name of the related party: First Quantum Property Developments III Limited
Relationship:
Directors and parent company
Description of the Transaction: This is an interest free loan balance.
£
Balance at 01 January 2019 999,930
Balance at 31 December 2019 999,930
Name of the related party: Mhitar Limited
Relationship:
Directors and parent company
Description of the Transaction: This is an interest free loan.
£
Balance at 01 January 2019 10,000
Balance at 31 December 2019 10,000
Name of the related party: First Quantum Property Developments Limited
Relationship:
Directors and parent company
Description of the Transaction: This is an interest free loan balance.
£
Balance at 01 January 2019 537,512
Balance at 31 December 2019 537,512