Bevvywell Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 01249780 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2017

FOR

BEVVYWELL LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J E Landau

S D Landau

SECRETARY:

S D Landau

REGISTERED OFFICE:

2 West Lawn

Broadfield Way

Aldenham

Hertfordshire

WD25 8DF

REGISTERED NUMBER:

01249780 (England and Wales)

ACCOUNTANTS:

Harford Michaels Kaye Limited

Chartered Certified Accountants

250 Hendon Way

London

NW4 3NL

FIXED ASSETS

Investment property

4

800,000

800,000

CURRENT ASSETS

Debtors

5

54

-

Cash at bank

6,296

5,802

6,350

5,802

CREDITORS

Amounts falling due within one year

6

(13,654

)

(13,695

)

NET CURRENT LIABILITIES

(7,304

)

(7,893

)

TOTAL ASSETS LESS CURRENT LIABILITIES

792,696

792,107

PROVISIONS FOR LIABILITIES

(98,141

)

(106,000

)

NET ASSETS

694,555

686,107

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

694,553

686,105

SHAREHOLDERS' FUNDS

694,555

686,107

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 30 June 2017 and were signed on its behalf by:

J E Landau - Director

1.	STATUTORY INFORMATION

Bevvywell 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Investment property

The investment property is included in the balance sheet, at its open market value.

Financial instruments

The company only enters into basic financial instruments that result in the recognition of financial assets or

liabilities like trade debtors, other debtors, trade creditors and other creditors, loans from banks or other third

parties and loans to/from related parties.

Debt instruments that consitute a financing transaction are initially measured at fair value of future payments and

subsequently at amortised cost using the effective interest method. Debt instruments which are payable or

receivable within one year such as trade debtors or trade creditors are measured, initially and subsequently at the

undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for

objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised

in the profit & loss account.

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 (2016 - 2 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 June 2016

and 31 May 2017

800,000

NET BOOK VALUE

At 31 May 2017

800,000

At 31 May 2016

800,000

Cost or valuation at 31 May 2017 is represented by:

£

Valuation in 2015

708,736

Cost

91,264

800,000

If the investment property had not been revalued it would have been included at the following historical cost:

2017

2016

£

£

Cost

91,264

91,264

The investment property was valued on an open market basis on 27 June 2017 by the directors of the company .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Other debtors

54

-

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Taxation and social security

8,274

8,328

Other creditors

5,380

5,367

13,654

13,695

7.	RETAINED EARNINGS

The amount of Retained Earnings not being distributable, as at the balance sheet date, was £610,595 (2016 -

£602,736).

8.	FIRST YEAR ADOPTION

Transition to FRS 102 Section 1A

This is the first year that the company has presented its results under FRS 102 Section 1A. The last Financial

Statements prepared under Old UK GAAP were for the year ended 31 May 2016. The date of transition to FRS

102 Section 1A was 1 June 2015.

Transitional adjustments arising from the first time adoption of FRS 102 Section 1A consist of the following:

i) The Revaluation Reserve of £708,736, as reported under Old UK GAAP, as at 31 May 2016, is now reported

within Retained Earnings in the comparative balance sheet.

ii) Deferred Tax of £106,000, which was not required to be accounted for under Old UK GAAP, as at 31 May

2016, is now included as Provisions for Liabilities in the comparative balance sheet with the corresponding debit

being charged to Retained Earnings also in the comparative balance sheet.

Retained Earnings reported under Old UK GAAP amounted to £83,369 and after adding the sum of £708,736

and deducting the sum of £106,000, as detailed above, Retained Earnings in the comparative balance sheet,

reportable under FRS 102 Section 1A, therefore amounts to £686,105.