Britton Properties (Barry) Limited - Accounts to registrar (filleted) - small 18.2

Britton Properties (Barry) Limited - Accounts to registrar (filleted) - small 18.2

BRITTON PROPERTIES (BARRY) LIMITED - Company Information

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REGISTERED NUMBER: 06612759 (England and Wales)















BRITTON PROPERTIES (BARRY) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH SEPTEMBER 2020





Carston Chartered Accountants
Tudor House
16 Cathedral Road
Cardiff
CF11 9LJ








BRITTON PROPERTIES (BARRY) LIMITED (REGISTERED NUMBER: 06612759)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2020










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BRITTON PROPERTIES (BARRY) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH SEPTEMBER 2020







DIRECTOR: Mr K M Britton





SECRETARY: Ms J Efstathiou





REGISTERED OFFICE: 21a
Park Crescent
Barry
Vale of Glamorgan
CF62 6HD





REGISTERED NUMBER: 06612759 (England and Wales)





ACCOUNTANTS: Carston Chartered Accountants
Tudor House
16 Cathedral Road
Cardiff
CF11 9LJ
Page 1
BRITTON PROPERTIES (BARRY) LIMITED (REGISTERED NUMBER: 06612759)

BALANCE SHEET
30TH SEPTEMBER 2020

2020 2019
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,292,402 1,292,402

CURRENT ASSETS
Debtors 5 3,464 4,634
Cash at bank 119,129 79,112
122,593 83,746
CREDITORS
Amounts falling due within one year 6 669,282 688,670
NET CURRENT LIABILITIES (546,689 ) (604,924 )
TOTAL ASSETS LESS CURRENT LIABILITIES 745,713 687,478

CREDITORS
Amounts falling due after more than one
year
7
466,900
466,900
NET ASSETS 278,813 220,578

CAPITAL AND RESERVES
Called up share capital 1 1
Revaluation reserve 9 54,571 54,571
Retained earnings 224,241 166,006
278,813 220,578

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 notes form part of these financial statements

Page 2 continued...
BRITTON PROPERTIES (BARRY) LIMITED (REGISTERED NUMBER: 06612759)

BALANCE SHEET - continued
30TH SEPTEMBER 2020


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

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 director on 12th January 2021 and were signed by:





Mr K M Britton - Director


The notes form part of these financial statements

Page 3
BRITTON PROPERTIES (BARRY) LIMITED (REGISTERED NUMBER: 06612759)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2020


1. STATUTORY INFORMATION

Britton Properties (Barry) Limited is a private company, limited by shares , registered in England and Wales. 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 as modified by the revaluation of certain assets.

Significant judgements and estimates
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. Significant judgements The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows:
- The valuation of the company's freehold investment properties.

Turnover
Turnover comprises rents received.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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

Page 4 continued...
BRITTON PROPERTIES (BARRY) LIMITED (REGISTERED NUMBER: 06612759)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2020


2. ACCOUNTING POLICIES - continued

Repairs and maintenance
In the absence of a specific intention by the board of either a disposition or substantial reconstruction of letting units in investment properties, all expenditure incurred on general repair, maintenance and upgrade is written off as incurred. It is the opinion of the board that the nature of the company's property ownership is such that any appreciation in value is due to the passage of time rather than intent to improve as policy and is as such reflected through the revaluation reserve.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 2 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st October 2019
and 30th September 2020 1,292,402
NET BOOK VALUE
At 30th September 2020 1,292,402
At 30th September 2019 1,292,402

Fair value at 30th September 2020 is represented by:

£   
Valuation in 2017 54,571
Cost 1,237,831
1,292,402

If investment properties had not been revalued they would have been included at the following historical cost:

2020 2019
£    £   
Cost 1,237,831 1,237,831

Investment properties were valued on an open market basis on by the director .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Other debtors 3,464 4,634

Page 5 continued...
BRITTON PROPERTIES (BARRY) LIMITED (REGISTERED NUMBER: 06612759)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2020


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Amounts owed to associates 26,176 674,974
Taxation and social security 13,740 7,716
Other creditors 629,366 5,980
669,282 688,670

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2020 2019
£    £   
Bank loans 466,900 466,900

8. SECURED DEBTS

The following secured debts are included within creditors:

2020 2019
£    £   
Bank loans 466,900 466,900

9. RESERVES
Revaluation
reserve
£   
At 1st October 2019
and 30th September 2020 54,571

Page 6