Focusplain Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03856318 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 June 2020

for

Focusplain Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A J R Viney

Mrs S C Viney

SECRETARY:

Mrs S C Viney

REGISTERED OFFICE:

38-42 Newport Street

Swindon

Wiltshire

SN1 3DR

REGISTERED NUMBER:

03856318 (England and Wales)

FIXED ASSETS

Intangible assets

5

-

-

Tangible assets

6

3,433,144

3,433,464

Investments

7

100

100

3,433,244

3,433,564

CURRENT ASSETS

Debtors

8

23,609

14,631

Cash at bank

12,836

25,321

36,445

39,952

CREDITORS

Amounts falling due within one year

9

772,779

761,906

NET CURRENT LIABILITIES

(736,334

)

(721,954

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,696,910

2,711,610

CREDITORS

Amounts falling due after more than one year

10

(100,974

)

(268,033

)

PROVISIONS FOR LIABILITIES

(216,947

)

(216,947

)

NET ASSETS

2,378,989

2,226,630

CAPITAL AND RESERVES

Called up share capital

350

350

Share premium

15,950

15,950

Capital contribution reserve

210,750

210,750

Retained earnings

2,151,939

1,999,580

SHAREHOLDERS' FUNDS

2,378,989

2,226,630

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2020 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.

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

The financial statements were approved by the Board of Directors and authorised for issue on 5 January 2021 and were signed on its behalf by:

A J R Viney - Director

S C Viney - Director

1.	STATUTORY INFORMATION

Focusplain 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable and represents the amount receivable for goods supplied or services rendered, net of returns, discounts and rebates allowed by the company and value added taxes.

Rental income

Income from the letting of property is recognised in the period to which it relates.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, was amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

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

Fixtures and fittings

-

20% on straight line basis

Computer equipment

-

20% on straight line basis

Tangible assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes the original purchase price, costs directly attributable to bringing the asset to its working condition for its intended use, dismantling and restoration costs and borrowing costs capitalised.

Investments in subsidiaries

Investment in subsidiary company is held at cost less accumulated impairment losses.

Financial instruments

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the debtors are stated at cost less impairment losses for bad and doubtful debts.

Basic financial liabilities, including trade and other creditors, bank loans, overdrafts and loans from fellow group companies, are initially recognised at transaction price. Bank loans and other loans are subsequently carried at amortised cost, using the effective interest method.

Cash and cash equivalents

Cash and cash equivalents includes cash in hand, deposits held at call with banks and other short-term highly liquid investments with original maturities of three months or less.

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.

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.

Investment property

Investment properties for which fair value can be measured reliably without undue cost or effort on an ongoing basis are measured at fair value annually with an change recognised in the profit and loss account.

Share capital

Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

Distributions to shareholders

Dividends and other distributions to company's shareholders are recognised as a liability in the financial statements in the period in which the dividends and other distributions are approved by the company's shareholders. These amounts are recognised in the statement of changes in equity.

Related party transactions

The company discloses transactions with related parties which are not wholly owned with the same group. It does not disclose transactions with members of the same group that are wholly owned.

4.	EMPLOYEES AND DIRECTORS

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

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 July 2019

and 30 June 2020

275,000

AMORTISATION

At 1 July 2019

and 30 June 2020

275,000

NET BOOK VALUE

At 30 June 2020

-

At 30 June 2019

-

6.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

Computer

property

fittings

equipment

Totals

£

£

£

£

COST OR VALUATION

At 1 July 2019

and 30 June 2020

3,432,504

55,977

14,126

3,502,607

DEPRECIATION

At 1 July 2019

-

55,017

14,126

69,143

Charge for year

-

320

-

320

At 30 June 2020

-

55,337

14,126

69,463

NET BOOK VALUE

At 30 June 2020

3,432,504

640

-

3,433,144

At 30 June 2019

3,432,504

960

-

3,433,464

Cost or valuation at 30 June 2020 is represented by:

Fixtures

Freehold

and

Computer

property

fittings

equipment

Totals

£

£

£

£

Valuation in 2017

1,328,075

-

-

1,328,075

Valuation in 2019

311,275

-

-

311,275

Cost

1,793,154

55,977

14,126

1,863,257

3,432,504

55,977

14,126

3,502,607

Investment properties were valued on an open market basis on 30 June 2019 by the directors .

7.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 July 2019

and 30 June 2020

100

NET BOOK VALUE

At 30 June 2020

100

At 30 June 2019

100

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Amounts owed by group undertakings

6,000

6,000

Other debtors

16,037

7,078

Prepayments

1,572

1,553

23,609

14,631

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Bank loans and overdrafts

36,532

71,586

Directors loan

605,539

620,539

Trade creditors

7,811

8,743

Tax

12,900

6,808

VAT

721

822

Other creditors

36,214

28,360

Directors' current accounts

48,682

668

Accruals and deferred income

24,380

24,380

772,779

761,906

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Bank loans - 1-2 years

9,225

6,829

Bank loans - 2-5 years

27,676

20,486

Bank loans

64,073

240,718

100,974

268,033

Amounts falling due in more than five years:

Repayable by instalments

Bank loans

64,073

240,718

11.	SECURED DEBTS

The following secured debts are included within creditors:

2020

2019

£

£

Bank loans

110,199

274,862

The bank loan is secured on some of the company's freehold properties.

12.	RELATED PARTY DISCLOSURES

During the year the following dividends were paid

2020

2019

£

£

A J R Viney

12,500

25,500

Mrs S C Viney

0

8,000

R Viney Settlement

0

0

C Viney Settlement

0

0

12,500

33,500

In addition Mrs S C Viney waived dividends of £12,500 (2019 - £25,500) and Mr A Viney waived dividends of £nil (2019 - £8,000).

At the year end the following directors current account balances were due:

SC Viney - £24,610 due from the company (2019: £603)

AJR Viney - £24,072 due from the company (2019: £65)

The amounts are made interest free and are repayable on demand.

At the year end the company owed the directors £605,539 (2019: £620,539) by way of a loan. The loan is made at an interest rate of 6% and is repayable on demand.

At the year end the company was owed £6,000 (2019: £6,000) by Logs for All Ltd.

13.	CONTROLLING PARTY

The controlling party is SC Viney & AJR Viney.