BTC (London) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08781373 (England and Wales)

Financial Statements for the Year Ended 31 March 2021

for

BTC (London) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A Sodha

R Sodha

SECRETARY:

R Sodha

REGISTERED OFFICE:

29 Albury Drive

Pinner

Middlesex

HA5 3RL

REGISTERED NUMBER:

08781373 (England and Wales)

ACCOUNTANTS:

J N Simaria & Co

Accountants

29 Albury Drive

Pinner

Middlesex

HA5 3RL

FIXED ASSETS

Intangible assets

4

97,500

130,000

Tangible assets

5

20,709

22,848

118,209

152,848

CURRENT ASSETS

Debtors

6

419,155

281,659

Cash at bank and in hand

370,021

250,117

789,176

531,776

CREDITORS

Amounts falling due within one year

7

187,296

234,421

NET CURRENT ASSETS

601,880

297,355

TOTAL ASSETS LESS CURRENT LIABILITIES

720,089

450,203

CREDITORS

Amounts falling due after more than one year

8

50,000

-

NET ASSETS

670,089

450,203

CAPITAL AND RESERVES

Called up share capital

9

2

2

Retained earnings

10

670,087

450,201

SHAREHOLDERS' FUNDS

670,089

450,203

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 31 December 2021 and were signed on its behalf by:

A Sodha - Director

R Sodha - Director

1.	STATUTORY INFORMATION

BTC (London) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill , being the amount paid in connection with the acquisition of partnership business in April 2014 are being written off evenly over estimated useful lives of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Improvements to property

-

in accordance with the property

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

10% on reducing balance

Computer equipment

-

20% on reducing balance

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2020 - 23 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2020

and 31 March 2021

325,000

AMORTISATION

At 1 April 2020

195,000

Amortisation for year

32,500

At 31 March 2021

227,500

NET BOOK VALUE

At 31 March 2021

97,500

At 31 March 2020

130,000

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

Motor

Computer

property

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2020

4,372

18,414

5,925

34,898

63,609

Additions

-

-

-

2,108

2,108

At 31 March 2021

4,372

18,414

5,925

37,006

65,717

DEPRECIATION

At 1 April 2020

4,372

10,653

2,374

23,362

40,761

Charge for year

-

1,164

355

2,728

4,247

At 31 March 2021

4,372

11,817

2,729

26,090

45,008

NET BOOK VALUE

At 31 March 2021

-

6,597

3,196

10,916

20,709

At 31 March 2020

-

7,761

3,551

11,536

22,848

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Trade debtors

8,935

11,341

Other debtors

405,058

260,568

Prepayments and accrued income

5,162

9,750

419,155

281,659

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Corporation tax payable

84,100

-

Social security and other taxes

26,764

136,564

Other creditors

26,988

89,692

Directors' current accounts

487

925

Accrued expenses

48,957

7,240

187,296

234,421

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.21

31.3.20

£

£

Bank loans more 5 yr by instal

50,000

-

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

50,000

-

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.21

31.3.20

value:

£

£

2

Ordinary

1

2

2

10.

RESERVES

Retained

earnings

£

At 1 April 2020

450,201

Profit for the year

419,886

Dividends

(200,000

)

At 31 March 2021

670,087