Bridport Housing Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03566970 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2021

FOR

BRIDPORT HOUSING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

8

DIRECTORS:

D Chapman

M McCabe

SECRETARIES:

D Chapman

M McCabe

REGISTERED OFFICE:

East Wing

Goffs Oak House

Goffs Lane

Goffs Oak

Hertfordshire

EN7 5BW

REGISTERED NUMBER:

03566970 (England and Wales)

ACCOUNTANTS:

OBK Limited trading as O'Byrne & Kennedy

East Wing

Goffs Oak House

Goffs Lane

Goffs Oak

Hertfordshire

EN7 5BW

FIXED ASSETS

Tangible assets

4

659

878

CURRENT ASSETS

Debtors

5

45,099

47,657

Cash at bank

31,529

11,536

76,628

59,193

CREDITORS

Amounts falling due within one year

6

17,470

15,102

NET CURRENT ASSETS

59,158

44,091

TOTAL ASSETS LESS CURRENT LIABILITIES

59,817

44,969

PROVISIONS FOR LIABILITIES

125

167

NET ASSETS

59,692

44,802

CAPITAL AND RESERVES

Called up share capital

7

6

6

Retained earnings

59,686

44,796

SHAREHOLDERS' FUNDS

59,692

44,802

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 23 February 2022 and were signed on its behalf by:

M McCabe - Director

1.	STATUTORY INFORMATION

Bridport Housing 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 (£).

The financial statements have been rounded to the nearest £.

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 rents, property maintenance and other property services due for the year.

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

-

15% - 25% on reducing balance

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statement, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 June 2020

and 31 May 2021

5,522

DEPRECIATION

At 1 June 2020

4,644

Charge for year

219

At 31 May 2021

4,863

NET BOOK VALUE

At 31 May 2021

659

At 31 May 2020

878

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

1,528

357

Other debtors

43,571

47,300

45,099

47,657

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors

1,559

1,740

Taxation and social security

4,414

630

Other creditors

11,497

12,732

17,470

15,102

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

4

Ordinary A

£1

4

4

2

Ordinary B

£1

2

2

6

6

8.	RELATED PARTY DISCLOSURES

The following loans from the directors subsisted during the years ended 31 May 2021 and 31 May 2020:

2021

2020

£

£

M McCabe

Balance outstanding at start of year

-

92

Balance outstanding at end of year

-

-

Maximum balance outstanding during year

-

92

D Chapman

Balance outstanding at start of year

-

52

Balance outstanding at end of year

-

-

Maximum balance outstanding during year

-

52

These loans are interest free.

M McCabe and D Chapman are partners in McCabe Chapman, letting agents, from whom the company incurred rental expenditure to the value of £254,016 (2020: £249,093). At 31 May 2021 £Nil (2020: £3,260) was due from McCabe Chapman.

The company paid M McCabe £149,112 (2020: £154,955) in respect of rent and service charges for properties owned personally.

The company paid D Chapman £112,910 (2020: £107,031) in respect of rent and service charges for properties owned personally.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Bridport Housing Limited for the year ended 31 May 2021 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Bridport Housing Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Bridport Housing Limited and state those matters that we have agreed to state to the Board of Directors of Bridport Housing Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Bridport Housing Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Bridport Housing 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 Bridport Housing Limited. You consider that Bridport Housing Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Bridport Housing Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

OBK Limited trading as O'Byrne & Kennedy

East Wing

Goffs Oak House

Goffs Lane

Goffs Oak

Hertfordshire

EN7 5BW

23 February 2022