Bodart Limited 30/11/2020 iXBRL

Bodart Limited 30/11/2020 iXBRL

BODART LIMITED - Company Information

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Company registration number: 8291083
Bodart Limited
Unaudited filleted abridged financial statements
30 November 2020
Bodart Limited
Contents
Directors and other information
Accountant's report
Abridged statement of financial position
Statement of changes in equity
Notes to the financial statements
Bodart Limited
Directors and other information
Directors Mr David Darby
Mrs Lydia Darby
Company number 8291083
Registered office Unit 2 Guards Avenue
Caterham
Surrey
England
CR3 5XL
Accountant S Nunn and Co Ltd
Unit 2, Guards Avenue
Caterham
Surrey
CR3 5XL
Bodart Limited
Chartered accountant's report to the board of directors on the preparation of the
unaudited statutory financial statements of Bodart Limited
Year ended 30 November 2020
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the financial statements of Bodart Limited for the year ended 30 November 2020 which comprise the abridged statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given me.
As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), I am 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 Bodart Limited, as a body, in accordance with the terms of my engagement letter. My work has been undertaken solely to prepare for your approval the financial statements of Bodart Limited and state those matters that we have agreed to state to the board of directors of Bodart Limited as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than Bodart Limited and its board of directors as a body for my work or for this report.
It is your duty to ensure that Bodart 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 Bodart Limited. You consider that Bodart Limited is exempt from the statutory audit requirement for the year.
I have not been instructed to carry out an audit or a review of the financial statements of Bodart Limited. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.
S Nunn and Co Ltd
Chartered Accountants
Unit 2, Guards Avenue
Caterham
Surrey
CR3 5XL
28 July 2021
Bodart Limited
Abridged statement of financial position
30 November 2020
2020 2019
Note £ £ £ £
Fixed assets
Tangible assets 5 2,934 2,407
_______ _______
2,934 2,407
Current assets
Debtors 157,404 106,788
Cash at bank and in hand 343,176 317,361
_______ _______
500,580 424,149
Creditors: amounts falling due
within one year ( 119,650) ( 111,581)
_______ _______
Net current assets 380,930 312,568
_______ _______
Total assets less current liabilities 383,864 314,975
Provisions for liabilities ( 360) ( 871)
_______ _______
Net assets 383,504 314,104
_______ _______
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 382,504 313,104
_______ _______
Shareholders funds 383,504 314,104
_______ _______
For the year ending 30 November 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 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 abridged statement of comprehensive income has not been delivered.
All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the current year ending 30 November 2020 in accordance with Section 444(2A) of the Companies Act 2006.
These financial statements were approved by the board of directors and authorised for issue on 28 July 2021 , and are signed on behalf of the board by:
Mr David Darby
Director
Company registration number: 8291083
Bodart Limited
Statement of changes in equity
Year ended 30 November 2020
Called up share capital Profit and loss account Total
£ £ £
At 1 December 2018 1,000 239,837 240,837
Profit for the year 200,267 200,267
_______ _______ _______
Total comprehensive income for the year - 200,267 200,267
Dividends paid and payable ( 127,000) ( 127,000)
_______ _______ _______
Total investments by and distributions to owners - ( 127,000) ( 127,000)
_______ _______ _______
At 30 November 2019 and 1 December 2019 1,000 313,104 314,104
Profit for the year 176,400 176,400
_______ _______ _______
Total comprehensive income for the year - 176,400 176,400
Dividends paid and payable ( 107,000) ( 107,000)
_______ _______ _______
Total investments by and distributions to owners - ( 107,000) ( 107,000)
_______ _______ _______
At 30 November 2020 1,000 382,504 383,504
_______ _______ _______
Bodart Limited
Notes to the financial statements
Year ended 30 November 2020
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is Unit 2 Guards Avenue, Caterham, Surrey, England, CR3 5XL.
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'. The Triennial review 2017 amendments to the standard have been early adopted.
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.
Turnover
Turnover is measured at the fair value of the consideration receivable for services rendered, net of Value Added Tax.
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.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 25 % reducing balance
Motor vehicles - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates .
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
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.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2019: 4 ).
5. Tangible assets
£
Cost
At 1 December 2019 9,350
Additions 1,506
_______
At 30 November 2020 10,856
_______
Depreciation
At 1 December 2019 6,943
Charge for the year 979
_______
At 30 November 2020 7,922
_______
Carrying amount
At 30 November 2020 2,934
_______
At 30 November 2019 2,407
_______
6. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2020
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr David Darby ( 17) ( 163) ( 180)
_______ _______ _______
2019
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr David Darby ( 658) 641 ( 17)
_______ _______ _______
7. Related party transactions
During the year, dividends of £107,000 were paid to directors of the company.
8. Controlling party
The controlling interest in the Company is held by David and Lydia Darby.