Braybourne Limited |
Notes to the Accounts |
for the year ended 31 December 2017 |
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1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Turnover |
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Turnover comprises contributions receivable in the period towards the cost of the maintenance and management of the Estate of the Company. |
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Intangible fixed assets |
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Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
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2 |
Debtors |
2017 |
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2016 |
£ |
£ |
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Other debtors |
323 |
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318 |
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3 |
Creditors: amounts falling due within one year |
2017 |
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2016 |
£ |
£ |
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Trade creditors |
588 |
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917 |
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Other creditors |
192 |
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213 |
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780 |
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1,130 |
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4 |
Related party transactions |
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Due to the nature of the company's operations, income is derived from service charges payable by lessees who are also shareholders. No individual amount is considered material in its own right and accordingly these are not disclosed. |
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5 |
Controlling party |
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There is no overall controlling party as each lessee owns one ordinary share in the company. |
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6 |
Other information |
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Braybourne Limited is a private company limited by shares and incorporated in England. Its registered office is: |
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15 Roedean Heights |
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Roedean Road |
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Tunbridge Wells |
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Kent |
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TN2 5JY |