Bradonsouth Limited - Accounts to registrar (filleted) - small 18.2
Bradonsouth Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2022 |
FOR |
BRADONSOUTH LIMITED |
BRADONSOUTH LIMITED (REGISTERED NUMBER: 03990745) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2022 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 | to | 3 |
Notes to the Financial Statements | 4 | to | 6 |
BRADONSOUTH LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 JUNE 2022 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
17 Clarendon Road |
Clarendon Dock |
Belfast |
BT1 3BG |
BRADONSOUTH LIMITED (REGISTERED NUMBER: 03990745) |
STATEMENT OF FINANCIAL POSITION |
30 JUNE 2022 |
30.6.22 | 30.6.21 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 6 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
BRADONSOUTH LIMITED (REGISTERED NUMBER: 03990745) |
STATEMENT OF FINANCIAL POSITION - continued |
30 JUNE 2022 |
In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered. |
The financial statements were authorised for issue by the Board of Directors and authorised for issue on |
BRADONSOUTH LIMITED (REGISTERED NUMBER: 03990745) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2022 |
1. | STATUTORY INFORMATION |
Bradonsouth Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going concern |
The financial statements have been prepared on the going concern basis which assumes that the company will continue in operational existence for the foreseeable future. |
The validity of this assumption depends on the continued support of the company's directors. |
Based on the above, the directors believe it is appropriate to prepare accounts on the going concern basis. |
Significant judgements and estimates |
In preparing these financial statements the directors have made the following judgements: |
Establish whether there are indicators of impairment of the company's investment property. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and the business in general. |
The directors believe there to be no significant estimates in preparing these financial statements. |
Turnover |
Turnover represents net rents receivable, excluding value added tax. |
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. |
Financial instruments |
All financial instruments of the company are considered to meet the definition of basic financial instruments. |
- Short term debtors and creditors |
Debtors and creditors with no stated interest rate and are receivable or payable on demand are recognised at transaction price, and subject to annual impairment reviews. Any losses arising on impairment are recognised in the profit and loss account. |
- Cash and cash equivalents |
Cash and cash equivalents comprise cash at bank and in hand. |
BRADONSOUTH LIMITED (REGISTERED NUMBER: 03990745) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2022 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. 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 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 statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 July 2021 |
and 30 June 2022 |
NET BOOK VALUE |
At 30 June 2022 |
At 30 June 2021 |
There were no changes to valuation of the investment properties in the current or preceding years. |
Fair value at 30 June 2022 is represented by: |
£ |
Valuation in 2014 | (229,061 | ) |
Cost | 1,029,061 |
800,000 |
BRADONSOUTH LIMITED (REGISTERED NUMBER: 03990745) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2022 |
4. | INVESTMENT PROPERTY - continued |
If investment properties had not been revalued they would have been included at the following historical cost: |
30.6.22 | 30.6.21 |
£ | £ |
Cost | 1,029,061 | 1,029,061 |
Aggregate depreciation | (280,514 | ) | (280,514 | ) |
The investment properties were valued on an open market basis on 17 May 2016 by the directors. . |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.22 | 30.6.21 |
£ | £ |
Taxation and social security |
Other creditors |
6. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.6.22 | 30.6.21 |
value: | £ | £ |
Ordinary | £1 | 1 | 1 |
7. | ULTIMATE CONTROLLING PARTY |
The company continues to be controlled by its sole shareholder, A Gibney. |