Besson Line Limited - Accounts to registrar (filleted) - small 22.3
Besson Line Limited - Accounts to registrar (filleted) - small 22.3
| REGISTERED NUMBER: |
| Besson Line Limited |
| Unaudited Financial Statements |
| for the Year Ended 30 June 2022 |
| Besson Line Limited (Registered number: 03500485) |
| Contents of the Financial Statements |
| for the year ended 30 June 2022 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Besson Line Limited |
| Company Information |
| for the year ended 30 June 2022 |
| Director: |
| Registered office: |
| Registered number: |
| Accountants: |
| Chartered Accountants |
| 250 Fowler Avenue |
| Farnborough |
| Hampshire |
| GU14 7JP |
| Besson Line Limited (Registered number: 03500485) |
| Balance Sheet |
| 30 June 2022 |
| 2022 | 2021 |
| Notes | £ | £ | £ | £ |
| Fixed assets |
| Tangible assets | 4 |
| Investment property | 5 |
| Current assets |
| Debtors | 6 |
| Cash at bank and in hand |
| Creditors |
| Amounts falling due within one year | 7 |
| Net current assets |
| Total assets less current liabilities |
| Creditors |
| Amounts falling due after more than one year |
8 |
| Net assets |
| Capital and reserves |
| Called up share capital | 9 |
| Retained earnings |
| Shareholders' funds |
| The director acknowledges his 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. |
| In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
| The financial statements were approved by the director and authorised for issue on |
| Besson Line Limited (Registered number: 03500485) |
| Notes to the Financial Statements |
| for the year ended 30 June 2022 |
| 1. | Statutory information |
| Besson Line Limited is a |
| 2. | Accounting policies |
| Accounting convention |
| These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. |
| The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound. |
| The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below. |
| Going concern |
| At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements. |
| Turnover |
| Turnover represents rental income, which is accounted for on an accruals basis net of VAT. |
| Tangible fixed assets |
| Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. |
| Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: |
| Land (Freehold) | No depreciation |
| Fixtures, fittings & equipment | 3 years straight line |
| The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss. |
| Fixed asset investments are stated at cost. |
| Impairment of fixed assets |
| At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. |
| Cash and cash equivalents |
| Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks. |
| Besson Line Limited (Registered number: 03500485) |
| Notes to the Financial Statements - continued |
| for the year ended 30 June 2022 |
| 2. | Accounting policies - continued |
| Financial instruments |
| The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. |
| Financial instruments are recognised in the company's balance sheet 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 statements, 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 measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised. |
| Basic financial liabilities |
| Basic financial liabilities, including creditors, loans from connected companies and preference shares that are classified as debt, are recognised at transaction price. Financial liabilities classified as payable within one year are not amortised. |
| Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost. |
| Equity instruments |
| Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company. |
| Taxation |
| The tax expense represents the sum of the tax currently payable and deferred tax. |
| Current tax |
| The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date. |
| Deferred tax |
| Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit. |
| 3. | Employees and directors |
| The average number of employees during the year was |
| Besson Line Limited (Registered number: 03500485) |
| Notes to the Financial Statements - continued |
| for the year ended 30 June 2022 |
| 4. | Tangible fixed assets |
| Fixtures |
| Land and | and |
| Buildings | fittings | Totals |
| £ | £ | £ |
| Cost |
| At 1 July 2021 |
| and 30 June 2022 |
| Depreciation |
| At 1 July 2021 |
| and 30 June 2022 |
| Net book value |
| At 30 June 2022 |
| At 30 June 2021 |
| 5. | Investment property |
| Total |
| £ |
| Fair value |
| At 1 July 2021 |
| and 30 June 2022 |
| Net book value |
| At 30 June 2022 |
| At 30 June 2021 |
| 6. | Debtors: amounts falling due within one year |
| 2022 | 2021 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 7. | Creditors: amounts falling due within one year |
| 2022 | 2021 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | Creditors: amounts falling due after more than one year |
| 2022 | 2021 |
| £ | £ |
| Other creditors |
| Besson Line Limited (Registered number: 03500485) |
| Notes to the Financial Statements - continued |
| for the year ended 30 June 2022 |
| 8. | Creditors: amounts falling due after more than one year - continued |
| The Non-redeemable preference shares of £1 each: |
| i. Entitle holders to a fixed preferential dividend at a rate of 0.5% per annum and any such additional dividend as the directors may at their discretion determine (but without obligation). The dividend shall be paid yearly in arrears on the anniversary of the date of issue of the preference shares. |
| ii. The preference shares shall be repaid at par on any liquidation of the company but shall have no other right to share in the income or capital of the company. |
| iii. The preference shareholders shall not be entitled to any votes at any general meeting of the company. |
| 9. | Called up share capital |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2022 | 2021 |
| value: | £ | £ |
| Ordinary | £1 | 100 | 100 |
| 10. | Related party disclosures |
| At the year end the company was owed £1,145 (2021 - £5,000) by a company under common control. |
| At the year end the company owed £113,700 (2021 - £113,851) to a company with which the property and freehold land are jointly owned. This balance may not be repayable within one year. |