B & R Projects Limited Filleted accounts for Companies House (small and micro)

B & R PROJECTS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 09176854

B & R Projects Limited

Filleted Unaudited Financial Statements

30 June 2020

B & R Projects Limited

Statement of Financial Position

30 June 2020

	2020		2019
Note	£	£	£

Current assets

Debtors	4	15,000	15,000
Cash at bank and in hand		21,414	85,118
		--------	---------
		36,414	100,118

Creditors: amounts falling due within one year	5	1,086		63,609
		--------		---------
Net current assets			35,328	36,509
			--------	--------
Total assets less current liabilities			35,328	36,509
			--------	--------
Net assets			35,328	36,509
			--------	--------

Capital and reserves

Called up share capital	2,000	2,000
Profit and loss account	33,328	34,509
	--------	--------
Shareholders funds	35,328	36,509
	--------	--------

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 30 June 2020 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 were approved by the board of directors and authorised for issue on 29 June 2021 , and are signed on behalf of the board by:

Mr A J Betteridge

Director

Company registration number: 09176854

B & R Projects Limited

Notes to the Financial Statements

Year ended 30 June 2020

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 5th Floor, 64 North Row, London, Mayfair, W1K 7DA.

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 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.

Income tax

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. 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 entity 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. 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. 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. Debtors

	2020	2019
	£	£
Other debtors	15,000	15,000
	--------	--------

5. Creditors: amounts falling due within one year

	2020	2019
	£	£
Trade creditors	6	–
Corporation tax	–	22,169
Other creditors	1,080	41,440
	-------	--------
	1,086	63,609
	-------	--------

6. Related party transactions

There were balances owing to the directors, Mr R K Rudd & Mr A J Betteridge at the year end. These amounts are interest free with no fixed repayment terms. The balances due were as follows:

	2020	2019
	£	£
Mr A J Betteridge	–	10,000
Mr R K Rudd	–	30,000
	----	--------
	–	40,000
	----	--------