Baxendale Enterprises Limited Company Accounts

Baxendale Enterprises Limited Company Accounts

BAXENDALE ENTERPRISES LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 06519101
Baxendale Enterprises Limited
Company Limited by Guarantee
Filleted Unaudited Financial Statements
31 March 2017
Baxendale Enterprises Limited
Company Limited by Guarantee
Financial Statements
Year ended 31 March 2017
Contents
Page
Officers and professional advisers
1
Chartered accountants report to the director on the preparation of the unaudited statutory financial statements
2
Statement of financial position
3
Notes to the financial statements
4
Baxendale Enterprises Limited
Company Limited by Guarantee
Officers and Professional Advisers
Director
Mr A W Street
Company secretary
Mr A W Street
Registered office
Unit 3 Boran Court
Network 65 Business Park
Hapton
Burnley
BB11 5TH
Accountants
Hill Eckersley & Co. Ltd
Chartered Accountants
62 Chorley New Road
Bolton
Lancashire
BL1 4BY
Bankers
National Westminster Bank Plc
24 Deansgate
Bolton
Lancashire
BL1 1BN
Baxendale Enterprises Limited
Company Limited by Guarantee
Chartered Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of Baxendale Enterprises Limited
Year ended 31 March 2017
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Baxendale Enterprises Limited for the year ended 31 March 2017, which comprise the statement of financial position 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 at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the director of Baxendale Enterprises Limited in accordance with the terms of our engagement letter dated 20 February 2009. Our work has been undertaken solely to prepare for your approval the financial statements of Baxendale Enterprises Limited and state those matters that we have agreed to state to you in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Baxendale Enterprises Limited and its director for our work or for this report.
It is your duty to ensure that Baxendale Enterprises 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 loss of Baxendale Enterprises Limited. You consider that Baxendale Enterprises 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 Baxendale Enterprises 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.
Hill Eckersley & Co. Ltd Chartered Accountants
62 Chorley New Road Bolton Lancashire BL1 4BY
9 November 2017
Baxendale Enterprises Limited
Company Limited by Guarantee
Statement of Financial Position
31 March 2017
2017
2016
Note
£
£
£
Fixed assets
Investments
5
5,880
5,880
Current assets
Cash at bank and in hand
17,068
22,278
Creditors: amounts falling due within one year
6
5,880
5,880
--------
--------
Net current assets
11,188
16,398
--------
--------
Total assets less current liabilities
17,068
22,278
--------
--------
Capital and reserves
Profit and loss account
17,068
22,278
--------
--------
Members funds
17,068
22,278
--------
--------
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 income and retained earnings has not been delivered.
For the year ending 31 March 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 9 November 2017 , and are signed on behalf of the board by:
Mr A W Street
Director
Company registration number: 06519101
Baxendale Enterprises Limited
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 March 2017
1. General information
Baxendale Enterprises Limited is a private company limited by shares, registered in the United Kingdom number 06519101 . Its registered office is Unit 3 Boran Court, Network 65 Business Park, Hapton, Burnley, BB11 5TH. The company has remained dormant since incorporation.
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.
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 April 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 8.
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.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
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. Company limited by guarantee
Baxendale Enterprises Limited is a company limited by guarantees from the members. Each member has guaranteed a personal liability in case of a winding up.
5. Investments
Shares in participating interests
£
Cost
At 1 April 2016 and 31 March 2017
5,880
-------
Impairment
At 1 April 2016 and 31 March 2017
–
-------
Carrying amount
At 31 March 2017
5,880
-------
6. Creditors: amounts falling due within one year
2017
2016
£
£
Other creditors
5,880
5,880
-------
-------
7. Related party transactions
As a company limited by Guarantee the company was under the control of the members throughout the current period. Mr A W Street is the managing director.
8. Transition to FRS 102
These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 April 2015.
No transitional adjustments were required in equity or profit or loss for the year.