BUD AND SON LIMITED Filleted accounts for Companies House (small and micro)

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COMPANY REGISTRATION NUMBER: 00701935

BUD AND SON LIMITED

Filleted Unaudited Financial Statements

31 January 2022

BUD AND SON LIMITED

Statement of Financial Position

31 January 2022

	2022		2021
Note	£	£	£

Fixed assets

Tangible assets	5		738,410	738,410

Current assets

Cash at bank and in hand	130,136		83,990

Creditors: amounts falling due within one year	6	791,906		773,190
		---------		---------
Net current liabilities			661,770	689,200
			---------	---------
Total assets less current liabilities			76,640	49,210
			--------	--------

Capital and reserves

Called up share capital	100	100
Profit and loss account	76,540	49,110
	--------	--------
Shareholders funds	76,640	49,210
	--------	--------

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.

For the year ending 31 January 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 14 December 2022 , and are signed on behalf of the board by:

J Shenker
Director

Company registration number: 00701935

BUD AND SON LIMITED

Notes to the Financial Statements

Year ended 31 January 2022

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Hallswelle House, 1 Hallswelle Road, London, NW11 0DH.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.

Revenue recognition

Turnover shown in the profit and loss account represents rents and charges receivable during the year.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively .

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Investment property

The investment property is initially recorded at cost, which comprises the purchase price and all directly attributable expenditure. The investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

4. Employee numbers

The average number of persons employed by the company during the year amounted to Nil (2021: 2 ).

5. Tangible assets

	Land and buildings
	£
Cost
At 1 February 2021 and 31 January 2022	738,410
	---------
Depreciation
At 1 February 2021 and 31 January 2022	–
	---------
Carrying amount
At 31 January 2022	738,410
	---------
At 31 January 2021	738,410
	---------

The company's investment properties were revalued by the director at open market value.

6. Creditors: amounts falling due within one year

	2022	2021
	£	£
Corporation tax	12,325	11,438
Other creditors	779,581	761,752
	---------	---------
	791,906	773,190
	---------	---------