Brutinellpres Limited Company Accounts

BRUTINELLPRES LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 09317293

Brutinellpres Limited

Filleted Unaudited Financial Statements

31 December 2016

Brutinellpres Limited

Financial Statements

Year ended 31 December 2016

Contents	Page

Statement of financial position	1

Statement of changes in equity	3

Notes to the financial statements	4

Brutinellpres Limited

Statement of Financial Position

31 December 2016

	2016	2015
Note	£	£

Fixed assets

Tangible assets	5	12,260	16,108

Current assets

Debtors	6	37,016	19,683
Cash at bank and in hand		29,303	20,670
		--------	--------
		66,319	40,353

Creditors: amounts falling due within one year	7	103,475	92,178
		---------	--------
Net current liabilities		37,156	51,825
		--------	--------
Total assets less current liabilities		( 24,896)	( 35,717)
		--------	--------
Net liabilities		( 24,896)	( 35,717)
		--------	--------

Capital and reserves

Called up share capital	100	100
Profit and loss account	( 24,996)	( 35,817)
	--------	--------
Members deficit	( 24,896)	( 35,717)
	--------	--------

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 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 comprehensive income has not been delivered.

For the year ending 31 December 2016 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 .

Brutinellpres Limited

Statement of Financial Position (continued)

31 December 2016

These financial statements were approved by the board of directors and authorised for issue on 1 September 2017 , and are signed on behalf of the board by:

M Holding	R J Luff
Director	Director

Company registration number: 09317293

Brutinellpres Limited

Statement of Changes in Equity

Year ended 31 December 2016

	Called up share capital	Profit and loss account	Total
	£	£	£
At 18 November 2014	–	–	–

Loss for the year		( 35,817)	( 35,817)
	----	--------	--------
Total comprehensive income for the year	–	( 35,817)	( 35,817)

Issue of shares	100	–	100
	----	--------	--------
Total investments by and distributions to owners	100	–	100

At 31 December 2015	100	( 35,817)	( 35,717)

Profit for the year		10,821	10,821
	----	--------	--------
Total comprehensive income for the year	–	10,821	10,821

	----	--------	--------
At 31 December 2016	100	( 24,996)	( 24,896)
	----	--------	--------

Brutinellpres Limited

Notes to the Financial Statements

Year ended 31 December 2016

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Wiston House, 1 Wiston Avenue, Worthing, West Sussex, BN14 7QL.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, '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.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

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.

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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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:

Short leasehold property	-	10% straight line
Fixtures and fittings	-	15% reducing balance
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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

4. Employee numbers

The average number of persons employed by the company during the year, including the directors, amounted to 6 (2015: 4 ).

5. Tangible assets

	Short leasehold property	Fixtures and fittings	Equipment	Total
	£	£	£	£
Cost
At 1 Jan 2016 and 31 Dec 2016	5,551	8,311	5,119	18,981
	-------	-------	-------	--------
Depreciation
At 1 January 2016	–	1,029	1,844	2,873
Charge for the year	555	1,092	2,201	3,848
	-------	-------	-------	--------
At 31 December 2016	555	2,121	4,045	6,721
	-------	-------	-------	--------
Carrying amount
At 31 December 2016	4,996	6,190	1,074	12,260
	-------	-------	-------	--------
At 31 December 2015	5,551	7,282	3,275	16,108
	-------	-------	-------	--------

6. Debtors

	2016	2015
	£	£
Trade debtors	3,190	8,580
Other debtors	33,826	11,103
	--------	--------
	37,016	19,683
	--------	--------

7. Creditors: amounts falling due within one year

	2016	2015
	£	£
Trade creditors	793	4,585
Amounts owed to group undertakings and undertakings in which the company has a participating interest	89,778	86,343
Social security and other taxes	11,448	–
Other creditors	1,456	1,250
	---------	--------
	103,475	92,178
	---------	--------

8. Related party transactions

R J Luff is also a director of Hargan Estates Ltd. During the year the company was provided a loan from Hargan Estates Ltd, as at 31 December 2016 the loan outstanding was £89,778. This loan has been provided interest free and no formal repayment terms.

9. Controlling party

The parent company is Hargan Estates Ltd whose registered office is Wiston House, 1 Wiston Avenue, Worthing, West Sussex and the principal place of business is 30 Guildborne Centre, Worthing, West Sussex.