Charlton Baker Limited 31/03/2020 iXBRL

Charlton Baker Limited 31/03/2020 iXBRL

CHARLTON BAKER LIMITED - Company Information

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28 31/03/2020 2020-03-31 false false false false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2019-04-01 Sage Accounts Production 20.0 - FRS102_2019 xbrli:pure xbrli:shares iso4217:GBP 07179787 2019-04-01 2020-03-31 07179787 2020-03-31 07179787 2019-03-31 07179787 2018-04-01 2019-03-31 07179787 2019-03-31 07179787 2018-03-31 07179787 core:NetGoodwill 2019-04-01 2020-03-31 07179787 core:IntangibleAssetsOtherThanGoodwill 2019-04-01 2020-03-31 07179787 core:FurnitureFittingsToolsEquipment 2019-04-01 2020-03-31 07179787 bus:RegisteredOffice 2019-04-01 2020-03-31 07179787 bus:Director1 2019-04-01 2020-03-31 07179787 bus:Director2 2019-04-01 2020-03-31 07179787 bus:Director3 2019-04-01 2020-03-31 07179787 core:NetGoodwill 2019-03-31 07179787 core:IntangibleAssetsOtherThanGoodwill 2019-03-31 07179787 core:NetGoodwill 2020-03-31 07179787 core:IntangibleAssetsOtherThanGoodwill 2020-03-31 07179787 core:FurnitureFittingsToolsEquipment 2019-03-31 07179787 core:FurnitureFittingsToolsEquipment 2020-03-31 07179787 core:WithinOneYear 2020-03-31 07179787 core:WithinOneYear 2019-03-31 07179787 core:AfterOneYear 2020-03-31 07179787 core:AfterOneYear 2019-03-31 07179787 core:ShareCapital 2018-04-01 2019-03-31 07179787 core:RetainedEarningsAccumulatedLosses 2018-04-01 2019-03-31 07179787 core:RetainedEarningsAccumulatedLosses 2019-04-01 2020-03-31 07179787 core:ShareCapital 2020-03-31 07179787 core:ShareCapital 2019-03-31 07179787 core:RetainedEarningsAccumulatedLosses 2020-03-31 07179787 core:RetainedEarningsAccumulatedLosses 2019-03-31 07179787 core:ShareCapital 2018-03-31 07179787 core:RetainedEarningsAccumulatedLosses 2018-03-31 07179787 core:NetGoodwill 2019-03-31 07179787 core:IntangibleAssetsOtherThanGoodwill 2019-03-31 07179787 core:CostValuation core:Non-currentFinancialInstruments 2020-03-31 07179787 core:Non-currentFinancialInstruments 2020-03-31 07179787 core:Non-currentFinancialInstruments 2019-03-31 07179787 core:FurnitureFittingsToolsEquipment 2019-03-31 07179787 bus:SmallEntities 2019-04-01 2020-03-31 07179787 bus:AuditExempt-NoAccountantsReport 2019-04-01 2020-03-31 07179787 bus:FullAccounts 2019-04-01 2020-03-31 07179787 bus:SmallCompaniesRegimeForAccounts 2019-04-01 2020-03-31 07179787 bus:PrivateLimitedCompanyLtd 2019-04-01 2020-03-31
Company registration number: 07179787
Charlton Baker Limited
Unaudited filleted financial statements
31 March 2020
Charlton Baker Limited
Contents
Directors and other information
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Charlton Baker Limited
Directors and other information
Directors Mr S J Sartin
Mr S A Little
Mr E C Cargill
Company number 07179787
Registered office 7-7c Snuff Street
Devizes
Wiltshire
SN10 1DU
Business address 7-7c Snuff Street
Devizes
Wiltshire
SN10 1DU
Charlton Baker Limited
Statement of financial position
31 March 2020
2020 2019
Note £ £ £ £
Fixed assets
Intangible assets 5 232,615 279,699
Tangible assets 6 60,733 55,007
Investments 7 216,860 216,860
_______ _______
510,208 551,566
Current assets
Debtors 8 235,601 308,811
Cash at bank and in hand 51,289 15,364
_______ _______
286,890 324,175
Creditors: amounts falling due
within one year 9 ( 447,656) ( 452,464)
_______ _______
Net current liabilities ( 160,766) ( 128,289)
_______ _______
Total assets less current liabilities 349,442 423,277
Creditors: amounts falling due
after more than one year 10 ( 175,810) ( 203,442)
Provisions for liabilities ( 11,539) ( 10,451)
_______ _______
Net assets 162,093 209,384
_______ _______
Capital and reserves
Called up share capital 110,315 110,315
Profit and loss account 51,778 99,069
_______ _______
Shareholders funds 162,093 209,384
_______ _______
For the year ending 31 March 2020 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.
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 Section 1A of 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 comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 06 November 2020 , and are signed on behalf of the board by:
Mr S J Sartin
Director
Company registration number: 07179787
Charlton Baker Limited
Statement of changes in equity
Year ended 31 March 2020
Called up share capital Profit and loss account Total
£ £ £
At 1 April 2018 110,115 150,075 260,190
Profit for the year 198,003 198,003
_______ _______ _______
Total comprehensive income for the year - 198,003 198,003
Issue of shares 200 200
Dividends paid and payable ( 249,009) ( 249,009)
_______ _______ _______
Total investments by and distributions to owners 200 ( 249,009) ( 248,809)
_______ _______ _______
At 31 March 2019 and 1 April 2019 110,315 99,069 209,384
Profit for the year 186,493 186,493
_______ _______ _______
Total comprehensive income for the year - 186,493 186,493
Dividends paid and payable ( 233,784) ( 233,784)
_______ _______ _______
Total investments by and distributions to owners - ( 233,784) ( 233,784)
_______ _______ _______
At 31 March 2020 110,315 51,778 162,093
_______ _______ _______
Charlton Baker Limited
Notes to the financial statements
Year ended 31 March 2020
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 7-7c Snuff Street, Devizes, Wiltshire, SN10 1DU.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. The Triennial review 2017 amendments to the standard have been early adopted.
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.
Turnover
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.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at a revalued amount, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably .
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill - 10 % straight line
Combined other intangible assets - 10 % straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
tangible assets are initially recorded at cost, and are 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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
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:
Fittings fixtures and equipment - 20 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
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. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 28 (2019: 29 ).
5. Intangible assets
Goodwill Other intangible assets Total
£ £ £
Cost
At 1 April 2019 and 31 March 2020 110,000 498,337 608,337
_______ _______ _______
Amortisation
At 1 April 2019 60,500 268,138 328,638
Charge for the year 8,250 38,834 47,084
_______ _______ _______
At 31 March 2020 68,750 306,972 375,722
_______ _______ _______
Carrying amount
At 31 March 2020 41,250 191,365 232,615
_______ _______ _______
At 31 March 2019 49,500 230,199 279,699
_______ _______ _______
6. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1 April 2019 154,387 154,387
Additions 16,418 16,418
_______ _______
At 31 March 2020 170,805 170,805
_______ _______
Depreciation
At 1 April 2019 99,380 99,380
Charge for the year 10,692 10,692
_______ _______
At 31 March 2020 110,072 110,072
_______ _______
Carrying amount
At 31 March 2020 60,733 60,733
_______ _______
At 31 March 2019 55,007 55,007
_______ _______
7. Investments
Other investments other than loans Total
£ £
Cost
At 1 April 2019 and 31 March 2020 216,860 216,860
_______ _______
Impairment
At 1 April 2019 and 31 March 2020 - -
_______ _______
Carrying amount
At 31 March 2020 216,860 216,860
_______ _______
At 31 March 2019 216,860 216,860
_______ _______
8. Debtors
2020 2019
£ £
Trade debtors 230,735 305,775
Other debtors 4,866 3,036
_______ _______
235,601 308,811
_______ _______
9. Creditors: amounts falling due within one year
2020 2019
£ £
Bank loans and overdrafts 42,524 42,168
Trade creditors 18,060 30,135
Amounts owed to group undertakings and undertakings in which the company has a participating interest 124,500 124,500
Corporation tax 36,839 28,573
Social security and other taxes 108,191 112,472
Other creditors 117,542 114,616
_______ _______
447,656 452,464
_______ _______
Creditors: amounts falling due within one year The total amount of creditors for which security has been given amounted to £42,524 (2019: £42, 168).
10. Creditors: amounts falling due after more than one year
2020 2019
£ £
Bank loans and overdrafts 175,810 203,442
_______ _______
Creditors: amounts falling due after more than one year The total amount of creditors for which security has been given amounted to £175,810 (2019: £203, 442). Net obligations under bank loans are secured by the directors.