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

REGISTERED NUMBER: 02255021 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 April 2020

for

Britania Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

9

DIRECTOR:

Mr R J Kendrick

SECRETARY:

Mrs S Rixon

REGISTERED OFFICE:

Braye House

Egypt Lane

Farnham Common

Buckinghamshire

SL2 3LF

REGISTERED NUMBER:

02255021 (England and Wales)

ACCOUNTANTS:

Haines Watts

Chartered Accountants

4 Claridge Court

Lower Kings Road

Berkhamsted

Hertfordshire

HP4 2AF

FIXED ASSETS

Tangible assets

4

20,797

20,045

Investments

5

4,230,294

4,000,877

4,251,091

4,020,922

CURRENT ASSETS

Debtors

6

3,626,892

3,130,530

Cash at bank and in hand

309,100

1,102,329

3,935,992

4,232,859

CREDITORS

Amounts falling due within one year

7

840,184

821,173

NET CURRENT ASSETS

3,095,808

3,411,686

TOTAL ASSETS LESS CURRENT LIABILITIES

7,346,899

7,432,608

CREDITORS

Amounts falling due after more than one year

8

4,509,756

4,450,661

NET ASSETS

2,837,143

2,981,947

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

10

2,837,043

2,981,847

SHAREHOLDERS' FUNDS

2,837,143

2,981,947

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 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 director and authorised for issue on 30 April 2021 and were signed by:

Mr R J Kendrick - Director

1.	STATUTORY INFORMATION

Britania 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.

The accounts have been prepared on a going concern basis, the directors have assessed the impact of the changing climate and see no reason for the approach to be impacted.

Turnover

Turnover represents net invoiced sales of invoiced goods and services, excluding value added tax.

Tangible fixed assets

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

Plant and machinery etc

-

25% on cost and at varying rates on 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 3 (2019 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 May 2019

71,985

Additions

5,877

Disposals

(5,641

)

At 30 April 2020

72,221

DEPRECIATION

At 1 May 2019

51,940

Charge for year

5,125

Eliminated on disposal

(5,641

)

At 30 April 2020

51,424

NET BOOK VALUE

At 30 April 2020

20,797

At 30 April 2019

20,045

5.	FIXED ASSET INVESTMENTS

30.4.20

30.4.19

£

£

Other investments not loans

4,230,294

3,998,379

Other loans

-

2,498

4,230,294

4,000,877

Additional information is as follows:

Other

investments

£

COST

At 1 May 2019

3,998,379

Additions

3,199,576

Disposals

(2,917,442

)

Impairments

(50,219

)

At 30 April 2020

4,230,294

NET BOOK VALUE

At 30 April 2020

4,230,294

At 30 April 2019

3,998,379

Other

loans

£

At 1 May 2019

2,498

Repayment in year

(2,498

)

At 30 April 2020

-

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.20

30.4.19

£

£

Trade debtors

3,467,745

2,905,493

Other debtors

159,147

225,037

3,626,892

3,130,530

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.20

30.4.19

£

£

Trade creditors

12,374

5,100

Taxation and social security

19,603

149,310

Other creditors

808,207

666,763

840,184

821,173

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.20

30.4.19

£

£

Other creditors

4,509,756

4,450,661

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.20

30.4.19

value:

£

£

100

Ordinary

£1

100

100

10.

RESERVES

Retained

earnings

£

At 1 May 2019

2,981,847

Profit for the year

5,196

Dividends

(150,000

)

At 30 April 2020

2,837,043

11.	RELATED PARTY DISCLOSURES

During the year, total dividends of £120,000 (2019 - £100,000) were paid to the director .

During the year the company made the following charges to companies in which R J Kendrick, a director and 80% shareholder in the company, was connected:

Financing, consultancy services receivable and sale of equipment:

2020

2019

£

£

Dramgate Limited

60,000

55,000

Smartcomm Limited

10,000

9,167

At the balance sheet date the company had the following balances with related parties:

Debtors:

2020

2019

£

£

Smartcomm Limited

53,017

53,002

Creditors:

2020

2019

£

£

Dramgate Limited

4,509,756

4,450,661

At the balance sheet date the company owed Mr R Kendrick £782,091 (2019: £636,601).

The company also paid salaries to family members of the director totalling £17,318 during the period (2019: £15,478).

12.	ULTIMATE CONTROLLING PARTY

The company is controlled by R J Kendrick.

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Britania Limited for the year ended 30 April 2020 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Britania Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Britania Limited and state those matters that we have agreed to state to the director of Britania Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Britania Limited and its director for our work or for this report.

It is your duty to ensure that Britania Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Britania Limited. You consider that Britania Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Britania Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Haines Watts

Chartered Accountants

4 Claridge Court

Lower Kings Road

Berkhamsted

Hertfordshire

HP4 2AF

30 April 2021