BDF Plant Limited - Accounts to registrar (filleted) - small 18.2
BDF Plant Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 December 2017 |
| for |
| BDF Plant Limited |
| BDF Plant Limited (Registered number: 05819742) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| BDF Plant Limited |
| Company Information |
| for the Year Ended 31 December 2017 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Cabourn House |
| Station Street |
| Bingham |
| Nottinghamshire |
| NG13 8AQ |
| BDF Plant Limited (Registered number: 05819742) |
| Balance Sheet |
| 31 December 2017 |
| 31.12.17 | 31.12.16 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| Investment property | 6 |
| CURRENT ASSETS |
| Debtors | 7 |
| Investments | 8 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 9 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Revaluation reserve | 10 |
| Capital redemption reserve | 10 |
| Retained earnings | 10 |
| SHAREHOLDERS' FUNDS |
| 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. |
| BDF Plant Limited (Registered number: 05819742) |
| Balance Sheet - continued |
| 31 December 2017 |
| 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 |
| BDF Plant Limited (Registered number: 05819742) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2017 |
| 1. | STATUTORY INFORMATION |
| BDF Plant Limited is a |
| number and registered office address can be found on the Company Information page. |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | STATEMENT OF COMPLIANCE |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| These financial statements have been produced on a going concern basis. Having carried out a review of the company's |
| resources and the challenges presented by the current trading climate, the directors are satisfied that the company has |
| sufficient cash flows to meet its liabilities as they fall due for at least one year from the date of approval of these accounts. |
| Changes in accounting policies |
| The principle accounting policies adopted in the preparation of the financial statements are set out below.. |
| These financial statements for the year ended 31 December 2016 are the first that comply with FRS 102 Section 1A. The |
| date of transition is 1 January 2015. |
| With the exception of the one change in the paragraph below, the transition has not resulted in any significant or material |
| changes to the accounting policies from those used previously nor were any transitional adjustments required. |
| Previously, under UK GAAP, the current asset investments were recognised at cost less impairment. As per the |
| requirements under FRS 102 Section 1A, these are now recognised at fair value. This has led to a transitional adjustment, |
| of which further details are included within Note 16. |
| Turnover |
| Turnover represents rental income receivable during the period arising from the leasing of both property and plant & |
| machinery. Rental income is recognised on a straight line basis over the length of the lease agreement. |
| Tangible fixed assets |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| All tangible fixed assets are recorded at their purchase cost to either the company or British Drilling and Freezing |
| Company Limited where assets were originally purchased by that company prior to the transfer on 1 November 2006. |
| The cost of tangible fixed assets is their purchase price together with any incidental costs of acquisition. |
| Certain assets transferred from British Drilling and Freezing Company Limited had previously been revalued by that |
| company prior to the issue of FRS15: "Tangible Fixed Assets" in 2000. In accordance with the transitional provisions of |
| FRS15 these valuations have been retained and treated as the deemed cost of those fixed assets. |
| BDF Plant Limited (Registered number: 05819742) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2017 |
| 3. | ACCOUNTING POLICIES - continued |
| Investment property |
| Investment property is shown at fair value. Any aggregate surplus or deficit arising from changes in fair value is recognised |
| in the income statement. Deferred taxation is provided on these gains or losses, to the extent they are recoverable, at the |
| rate expected to apply when the property is sold. |
| Financial instruments |
| Financial instruments are classified and accounted for according to the substance of the contractual arrangement as |
| 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. |
| Basic financial instruments are recognised at amortised cost. Other financial instruments are recognised at fair value |
| through profit or loss. |
| 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. |
| Investments |
| Fixed asset investments are stated at cost less impairment. |
| Current asset investments include sums on short-term deposits with recognised investment managers. Current asset |
| investments are recognised at fair value with any fair value adjustments included within the profit or loss. |
| True & fair override |
| Investment property has not been depreciated in accordance with the requirements of the Accounting Standards. This is a |
| departure from the general requirement of the Companies Act 2006 that all buildings are depreciated over their useful |
| economic life. It is considered that for proper understanding of the financial position of accounts containing investment |
| properties that such properties be included in the Statement of Financial Position at fair value rather than applying a |
| calculation of systematic depreciation. This treatment has been adopted by the directors. |
| BDF Plant Limited (Registered number: 05819742) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2017 |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Plant and | and | Motor | Computer |
| machinery | fittings | vehicles | equipment | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 January 2017 |
| Disposals | ( |
) | ( |
) |
| At 31 December 2017 |
| DEPRECIATION |
| At 1 January 2017 |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 December 2017 |
| NET BOOK VALUE |
| At 31 December 2017 |
| At 31 December 2016 |
| All of the assets included above are held for use in operating leases. |
| 5. | FIXED ASSET INVESTMENTS |
| Other |
| investments |
| £ |
| COST |
| At 1 January 2017 |
| and 31 December 2017 |
| NET BOOK VALUE |
| At 31 December 2017 |
| At 31 December 2016 |
| The above investment is in BDF Partnership LLP, a limited liability partnership in which the members are directors of BDF |
| Plant Limited. The registered office for BDF Partnership LLP is Private Road No.3, Colwick Industrial Estate, Colwick, |
| Nottingham, Nottinghamshire, NG4 2BB. |
| 6. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 January 2017 |
| and 31 December 2017 |
| NET BOOK VALUE |
| At 31 December 2017 |
| At 31 December 2016 |
| BDF Plant Limited (Registered number: 05819742) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2017 |
| 6. | INVESTMENT PROPERTY - continued |
| The investment property has been valued by the directors on an open market basis. |
| If investment property had not been revalued, it would have been included at the following historical cost: |
| 31.12.16 | 31.12.15 |
| £ | £ |
| Cost | 1,243,958 | 1,243,958 |
| Aggregate depreciation | (601,437 | ) | (581,685 | ) |
| Net book value | 642,521 | 662,273 |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.17 | 31.12.16 |
| £ | £ |
| Other debtors |
| 8. | CURRENT ASSET INVESTMENTS |
| 31.12.17 | 31.12.16 |
| £ | £ |
| Other |
| 9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.17 | 31.12.16 |
| £ | £ |
| Corporation tax |
| VAT | 71,451 | 71,458 |
| Other creditors |
| 10. | RESERVES |
| Capital |
| Retained | Revaluation | redemption |
| earnings | reserve | reserve | Totals |
| £ | £ | £ | £ |
| At 1 January 2017 | 9,243,243 |
| Profit for the year |
| At 31 December 2017 | 10,482,616 |