Berkeley Square Developments Limited Filleted accounts for Companies House (small and micro)

Berkeley Square Developments Limited Filleted accounts for Companies House (small and micro)


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COMPANY REGISTRATION NUMBER: 08123452
Berkeley Square Developments Limited
Filleted Unaudited Financial Statements
30 June 2022
Berkeley Square Developments Limited
Statement of Financial Position
30 June 2022
2022
2021
Note
£
£
£
Fixed assets
Tangible assets
4
37
130
Current assets
Debtors
5
3,758
25,200
Cash at bank and in hand
24,794
7,372
--------
--------
28,552
32,572
Creditors: amounts falling due within one year
6
16,177
27,921
--------
--------
Net current assets
12,375
4,651
--------
-------
Total assets less current liabilities
12,412
4,781
--------
-------
Net assets
12,412
4,781
--------
-------
Capital and reserves
Called up share capital
100
100
Profit and loss account
12,312
4,681
--------
-------
Shareholders funds
12,412
4,781
--------
-------
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 statement of income and retained earnings has not been delivered.
For the year ending 30 June 2022 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 .
Berkeley Square Developments Limited
Statement of Financial Position (continued)
30 June 2022
These financial statements were approved by the board of directors and authorised for issue on 20 March 2023 , and are signed on behalf of the board by:
J Carkeet
Director
Company registration number: 08123452
Berkeley Square Developments Limited
Notes to the Financial Statements
Year ended 30 June 2022
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Suite 3, Bignell Park Barns, Chesterton, Bicester, OX26 1TD.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
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.
Revenue recognition
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.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.
Tangible assets
Tangible assets are initially recorded at cost, and 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.
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:
Fixtures & Fittings
-
20% straight line
Equipment
-
20% straight line
Impairment of fixed assets
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.
4. Tangible assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 1 July 2021 and 30 June 2022
976
1,619
2,595
----
-------
-------
Depreciation
At 1 July 2021
921
1,544
2,465
Charge for the year
55
38
93
----
-------
-------
At 30 June 2022
976
1,582
2,558
----
-------
-------
Carrying amount
At 30 June 2022
37
37
----
-------
-------
At 30 June 2021
55
75
130
----
-------
-------
5. Debtors
2022
2021
£
£
Trade debtors
25,200
Other debtors
3,758
-------
--------
3,758
25,200
-------
--------
6. Creditors: amounts falling due within one year
2022
2021
£
£
Bank loans and overdrafts
3
Trade creditors
13,517
24,000
Corporation tax
1,034
Social security and other taxes
309
Other creditors
2,660
2,575
--------
--------
16,177
27,921
--------
--------