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

REGISTERED NUMBER: 00240104 (England and Wales)

Financial Statements

for the Year Ended 5 April 2020

for

BTE Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Dr M B Bennett

D L Bennett

J M Bennett

SECRETARY:

Dr M B Bennett

REGISTERED OFFICE:

28 Rodney Street

Liverpool

Merseyside

L1 2TQ

REGISTERED NUMBER:

00240104 (England and Wales)

ACCOUNTANTS:

Z L Y & Co Limited

Chartered Certified Accountants

28 Rodney Street

Liverpool

Merseyside

L1 2TQ

FIXED ASSETS

Tangible assets

4

5,515,162

5,515,162

Investments

5

100

100

5,515,262

5,515,262

CURRENT ASSETS

Debtors

9,998

33,887

Cash at bank

79,093

92,491

89,091

126,378

CREDITORS

Amounts falling due within one year

637,353

609,901

NET CURRENT LIABILITIES

(548,262

)

(483,523

)

TOTAL ASSETS LESS CURRENT LIABILITIES

4,967,000

5,031,739

CREDITORS

Amounts falling due after more than one year

511,401

568,759

NET ASSETS

4,455,599

4,462,980

CAPITAL AND RESERVES

Called up share capital

29,537

29,537

Revaluation reserve

6

3,768,031

3,768,031

Other reserves

76,982

76,982

Retained earnings

581,049

588,430

SHAREHOLDERS' FUNDS

4,455,599

4,462,980

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 5 April 2020 in accordance with Section 444(2A) of the Companies Act 2006.

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 18 March 2021 and were signed on its behalf by:

Dr M B Bennett - Director

1.	STATUTORY INFORMATION

BTE 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.

The company's current liabilities exceed its current assets in the sum of £548,262, (2019 - £483,523). Having reviewed current trading levels and future prospects for the forthcoming year, the directors consider it appropriate to prepare the financial statements on the going concern basis.

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.

Freehold property

-

not provided

Fixtures and fittings

-

10% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2019 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST OR VALUATION

At 6 April 2019

and 5 April 2020

5,536,311

DEPRECIATION

At 6 April 2019

and 5 April 2020

21,149

NET BOOK VALUE

At 5 April 2020

5,515,162

At 5 April 2019

5,515,162

Cost or valuation at 5 April 2020 is represented by:

Totals

£

Valuation in 1991

588,226

Valuation in 1994

459,119

Valuation in 2006

3,825,686

Valuation in 2010

(1,105,000

)

Cost

1,768,280

5,536,311

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

2020

2019

£

£

Cost

522,879

522,879

The freehold properties were valued on on an open market basis on 21 October 2010 by Mr R Backhouse MRICS .

5.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 6 April 2019

and 5 April 2020

100

NET BOOK VALUE

At 5 April 2020

100

At 5 April 2019

100

6.

RESERVES

Revaluation

reserve

£

At 6 April 2019

and 5 April 2020

3,768,031

7.	RELATED PARTY DISCLOSURES

During the year the company received management and service charges of £21,500, (2019 - £21,500) from R Bennett Investments limited, an associated company.

At the balance sheet date there is an outstanding creditor due to R Bennett Investments limited of £180,397, (2019 - £298,215).

At the balance sheet date there is an outstanding creditor due to BTE Lettings Ltd, ITS 100% subsiduary of £384,154, (2019 - £175,400).