Blueprint Estate Agents Limited 31/10/2020 iXBRL

Blueprint Estate Agents Limited 31/10/2020 iXBRL

ROBINSON ESTATE AGENTS LIMITED - Company Information

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Company registration number: 07054697
Blueprint Estate Agents Limited
Unaudited filleted financial statements
31 October 2020
Blueprint Estate Agents Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Blueprint Estate Agents Limited
Directors and other information
Director A Perry
Secretary H Perry
Company number 07054697
Registered office 57 Commercial Street
London
E1 6BD
Business address 57 Commercial Street
London
E1 6BD
Accountants Hill Allen (Wickford) Ltd
Office 1 Riverside Court
24 Lower Southend Road
Wickford
SS11 8AW
Bankers Barclays Bank plc
12/12A Howard Centre
Welwyn Garden City
AL8 6HA
Blueprint Estate Agents Limited
Statement of financial position
31 October 2020
2020 2019
Note £ £ £ £
Fixed assets
Tangible assets 5 1,101 5,590
_______ _______
1,101 5,590
Current assets
Debtors 6 581,205 59,768
Cash at bank and in hand 3,560 350
_______ _______
584,765 60,118
Creditors: amounts falling due
within one year 7 ( 354,437) ( 131,479)
_______ _______
Net current assets/(liabilities) 230,328 ( 71,361)
_______ _______
Total assets less current liabilities 231,429 ( 65,771)
_______ _______
Net assets/(liabilities) 231,429 ( 65,771)
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 231,329 ( 65,871)
_______ _______
Shareholders funds/(deficit) 231,429 ( 65,771)
_______ _______
For the year ending 31 October 2020 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 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 income statement has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 31 August 2021 , and are signed on behalf of the board by:
A Perry
Director
Company registration number: 07054697
Blueprint Estate Agents Limited
Notes to the financial statements
Year ended 31 October 2020
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 57 Commercial Street, London, E1 6BD.
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 in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland.The financial statements have been prepared on the historical cost basis.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 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.
Tangible assets
tangible assets are initially recorded at cost, and are 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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
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 - 33 % straight line
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.
Government grants
Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
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 6 (2019: 4 ).
5. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1 November 2019 and 31 October 2020 56,569 56,569
_______ _______
Depreciation
At 1 November 2019 50,979 50,979
Charge for the year 4,489 4,489
_______ _______
At 31 October 2020 55,468 55,468
_______ _______
Carrying amount
At 31 October 2020 1,101 1,101
_______ _______
At 31 October 2019 5,590 5,590
_______ _______
6. Debtors
2020 2019
£ £
Trade debtors 15,138 26,137
Other debtors 566,067 33,631
_______ _______
581,205 59,768
_______ _______
7. Creditors: amounts falling due within one year
2020 2019
£ £
Bank loans and overdrafts - 24,621
Trade creditors 82,082 31,644
Corporation tax 48,185 292
Social security and other taxes 170,012 67,542
Other creditors 54,158 7,380
_______ _______
354,437 131,479
_______ _______
8. Related party transactions
During the year the company entered into the following transactions with related parties:
Transaction value Balance owed by/(owed to)
2020 2019 2020 2019
£ £ £ £
Blueprint Lettings & Management Ltd - - ( 40,170) ( 4,834)
Blueprint Acquisitions Ltd - - 600,193 30,672
_______ _______ _______ _______
Funds are transferred to assocaited companies as required for projects undertaken on an interest free basis. The sums are repayable on demand.
9. Controlling party
The company is controlled by the director A Perry .