Bogota Estates Limited Company Accounts

Bogota Estates Limited Company Accounts

BOGOTA ESTATES LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 09790702
Bogota Estates Limited
Filleted Unaudited Financial Statements
31 October 2017
Bogota Estates Limited
Financial Statements
Year ended 31 October 2017
Contents
Page
Statement of financial position
1
Statement of changes in equity
3
Notes to the financial statements
4
Bogota Estates Limited
Statement of Financial Position
31 October 2017
2017
2016
Note
£
£
£
Fixed assets
Investments
4
2,342,920
2,342,920
Current assets
Debtors
5
965
6,879
Cash at bank and in hand
46,549
163,326
--------
---------
47,514
170,205
Creditors: amounts falling due within one year
6
88,601
62,585
--------
---------
Net current (liabilities)/assets
( 41,087)
107,620
------------
------------
Total assets less current liabilities
2,301,833
2,450,540
Creditors: amounts falling due after more than one year
7
2,350,000
2,489,870
------------
------------
Net liabilities
( 48,167)
( 39,330)
------------
------------
Capital and reserves
Called up share capital
1,300
1,300
Profit and loss account
( 49,467)
( 40,630)
--------
--------
Shareholders deficit
( 48,167)
( 39,330)
--------
--------
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 October 2017 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 .
Bogota Estates Limited
Statement of Financial Position (continued)
31 October 2017
These financial statements were approved by the board of directors and authorised for issue on 24 January 2018 , and are signed on behalf of the board by:
Mr H H Shah
Director
Company registration number: 09790702
Bogota Estates Limited
Statement of Changes in Equity
Year ended 31 October 2017
Called up share capital
Profit and loss account
Total
£
£
£
At 23 September 2015
–
–
–
Loss for the year
( 40,630)
( 40,630)
----
--------
--------
Total comprehensive income for the year
–
( 40,630)
( 40,630)
Issue of shares
1,300
–
1,300
-------
--------
--------
Total investments by and distributions to owners
1,300
–
1,300
At 31 October 2016
1,300
( 40,630)
( 39,330)
Loss for the year
( 8,837)
( 8,837)
-------
--------
--------
Total comprehensive income for the year
–
( 8,837)
( 8,837)
-------
--------
--------
At 31 October 2017
1,300
( 49,467)
( 48,167)
-------
--------
--------
Bogota Estates Limited
Notes to the Financial Statements
Year ended 31 October 2017
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Kimberley House, 31 Burnt Oak Broadway, Edgware, Greater London, HA8 5LD.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, '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.
Revenue recognition
The rental income shown in the profit and loss account represents amounts receivable for the period, exclusive of Value Added Tax.
Investments
Investment properties are revalued annually to their fair value and any surplus or deficit is dealt with through profit and loss. No depreciation is provided in respect of investment properties.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4.Investments
Investment property
£
Cost
At 1 November 2016 and 31 October 2017
2,342,920
------------
Impairment
At 1 November 2016 and 31 October 2017
–
------------
Carrying amount
At 31 October 2017
2,342,920
------------
At 31 October 2016
2,342,920
------------
The directors are of the opinion that the open market value of the company's investment property at the reporting date is the same as the carrying value. No fair value adjustment is therefore required.
5. Debtors
2017
2016
£
£
Trade debtors
–
6,879
Prepayments and accrued income
900
–
Other debtors
65
–
----
-------
965
6,879
----
-------
6. Creditors: amounts falling due within one year
2017
2016
£
£
Bank loans and overdrafts
60,000
60,000
Accruals and deferred income
22,551
2,270
Social security and other taxes
6,050
315
--------
--------
88,601
62,585
--------
--------
7. Creditors: amounts falling due after more than one year
2017
2016
£
£
Bank loans and overdrafts
1,050,000
1,110,000
Other creditors
1,300,000
1,379,870
------------
------------
2,350,000
2,489,870
------------
------------
The aggregate amount of creditors which are secured by a first legal charge over the company's investment property amounted to £1,110,000 (2016: £1,170,000).