Slough Trading Estate Business Watch Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02972951 (England and Wales)

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

FOR

SLOUGH TRADING ESTATE BUSINESS WATCH

LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

N I Hamilton

P Joiner

N Cahuac

J Clark

SECRETARY:

J J Mclaughlin

REGISTERED OFFICE:

172 Buckingham Avenue

Slough

Berkshire

SL1 4RD

REGISTERED NUMBER:

02972951 (England and Wales)

AUDITORS:

Oury Clark Chartered Accountants

Statutory Auditors

Herschel House

58 Herschel Street

Slough

Berkshire

SL1 1PG

FIXED ASSETS

Tangible assets

4

11,869

963

CURRENT ASSETS

Debtors

5

17,452

19,267

Cash at bank

30,644

19,860

48,096

39,127

CREDITORS

Amounts falling due within one year

6

29,497

32,021

NET CURRENT ASSETS

18,599

7,106

TOTAL ASSETS LESS CURRENT LIABILITIES

30,468

8,069

RESERVES

Income and expenditure account

30,468

8,069

30,468

8,069

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 December 2021 and were signed on its behalf by:

N I Hamilton - Director

1.	STATUTORY INFORMATION

Slough Trading Estate Business Watch Limited is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents income from members' subscriptions, rental income and consultancy fees.

Subscription and rental income are recognised on a time basis over the period covered. Service income is recognised on provision of the service.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost and 20% on cost

During the year the directors reviewed the company's policy of writing-off the cost of CCTV equipment in the year of acquisition. Due to the durability of such equipment it was decided that a more appropriate treatment would be to capitalise the costs and depreciate them over a 5 year period on a straight line basis. The effect of this change in policy was to increase the profit for the year by £1,800. The directors do not believe it is practical to quantify the current value of CCTV equipment that has been acquired in earlier periods and written off to Profit and loss account due to the timeframe concerned, the number of assets involved and the accessibility to the equipment.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to surplus or deficit on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Financial instruments

Basic Financial Instruments, as covered by Section 11 of FRS 102, are measured at amortised cost. The company does not have any Other Financial Instruments, as covered by Section 12 of FRS 102.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2019 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2020

1,360

Additions

16,236

At 31 December 2020

17,596

DEPRECIATION

At 1 January 2020

397

Charge for year

5,330

At 31 December 2020

5,727

NET BOOK VALUE

At 31 December 2020

11,869

At 31 December 2019

963

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Trade debtors

14,516

14,383

Other debtors

2,936

4,884

17,452

19,267

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Trade creditors

200

-

Taxation and social security

9,304

5,911

Other creditors and accruals

19,993

26,110

29,497

32,021

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

A. Smith (Senior Statutory Auditor)

for and on behalf of Oury Clark Chartered Accountants

We would like to draw your attention to the following statement contained within our audit report as included within the full financial statements:-

"Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed."