Borthwen Barns Management Company Limited 31/12/2021 iXBRL

Borthwen Barns Management Company Limited 31/12/2021 iXBRL

BORTHWEN BARNS MANAGEMENT COMPANY LIMITED - Company Information

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Company registration number: 06458822
Borthwen Barns Management Company Limited
Unaudited filleted financial statements
31 December 2021
Borthwen Barns Management Company Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Borthwen Barns Management Company Limited
Directors and other information
Directors Dr Sean Tighe
Ms Beverley Stott
Mr Nicholas Stein
Ms Zoe Metcalf
Ms Sharon Wheawall
Mr Stephen Berry
Mr Peter Hitchen
Mr Michael Beck
Mr Edward Barnett
Mr Robert Ormerod
Secretary Catherine Cunnah
Company number 06458822
Registered office Cholmondeley House
Dee Hills Park
Chester
CH3 5AR
Business address Carreglwyd
Llanfaethlu
Holyhead
Anglesey
LL65 4NY
Accountants Hargreaves & Woods
Cholmondeley House
Dee Hills Park
Chester
CH3 5AR
Borthwen Barns Management Company Limited
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of Borthwen Barns Management Company Limited
Year ended 31 December 2021
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Borthwen Barns Management Company Limited for the year ended 31 December 2021 which comprise the statement of financial position and 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 at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of Borthwen Barns Management Company Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Borthwen Barns Management Company Limited and state those matters that we have agreed to state to the board of directors of Borthwen Barns Management Company Limited as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Borthwen Barns Management Company Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Borthwen Barns Management Company 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 Borthwen Barns Management Company Limited. You consider that Borthwen Barns Management Company 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 Borthwen Barns Management Company 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.
Hargreaves & Woods
Chartered Accountants
Cholmondeley House
Dee Hills Park
Chester
CH3 5AR
12 November 2022
Borthwen Barns Management Company Limited
Statement of financial position
31 December 2021
2021 2020
Note £ £ £ £
Current assets
Debtors 5 16,459 16,459
Cash at bank and in hand 1,347 1,511
_______ _______
17,806 17,970
Creditors: amounts falling due
within one year 6 ( 18,978) ( 20,701)
_______ _______
Net current liabilities ( 1,172) ( 2,731)
_______ _______
Total assets less current liabilities ( 1,172) ( 2,731)
_______ _______
Net liabilities ( 1,172) ( 2,731)
_______ _______
Capital and reserves
Called up share capital 10 10
Profit and loss account ( 1,182) ( 2,741)
_______ _______
Shareholders deficit ( 1,172) ( 2,731)
_______ _______
For the year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 12 November 2022 , and are signed on behalf of the board by:
Dr Sean Tighe
Director
Company registration number: 06458822
Borthwen Barns Management Company Limited
Notes to the financial statements
Year ended 31 December 2021
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is C/O Hargreaves & Woods, Cholmondeley House, Dee Hills Park, Chester, CH3 5AR.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The directors have given their assurance that they will continue to support the company financially for the foreseeable future.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. 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 capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 10 (2020: 10 ).
5. Debtors
2021 2020
£ £
Other debtors 16,459 16,459
_______ _______
6. Creditors: amounts falling due within one year
2021 2020
£ £
Corporation tax 2 2
Other creditors 18,976 20,699
_______ _______
18,978 20,701
_______ _______