The Bloomsbury Property Company (Scarbor - Accounts to registrar (filleted) - small 18.2

The Bloomsbury Property Company (Scarbor - Accounts to registrar (filleted) - small 18.2

THE BLOOMSBURY PROPERTY COMPANY (SCARBOROUGH) LIMITED - Company Information

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REGISTERED NUMBER: 09268832 (England and Wales)

















Unaudited Financial Statements

for the Year Ended 31 December 2017

for

The Bloomsbury Property Company
(Scarborough) Limited
The Bloomsbury Property Company
(Scarborough) Limited (Registered number: 09268832)






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


The Bloomsbury Property Company
(Scarborough) Limited

Company Information
for the Year Ended 31 December 2017







Directors: Miss Sadie Isabella Shard
Mr William Pringle





Registered office: The Crescent Hotel
2 Belvoir Terrace
Scarborough
North Yorkshire
YO11 2PP





Registered number: 09268832 (England and Wales)





Accountants: Rayner & Co
Chartered Certified Accountants
6 Arundel Place
Scarborough
North Yorkshire
YO11 1TX
Page 1
The Bloomsbury Property Company
(Scarborough) Limited (Registered number: 09268832)

Balance Sheet
31 December 2017

2017 2016
Notes £ £ £ £
Fixed assets
Intangible assets 4 64,599 96,899
Tangible assets 5 38,000 57,000
Investments 6 100 100
Investment property 7 861,720 861,720
964,419 1,015,719

Current assets
Debtors 8 34,972 8,271
Cash at bank 9,034 8,975
44,006 17,246
Creditors
Amounts falling due within one year 9 355,458 339,722
Net current liabilities (311,452 ) (322,476 )
Total assets less current liabilities 652,967 693,243

Creditors
Amounts falling due after more than one
year
10
694,116
720,399
Net liabilities (41,149 ) (27,156 )

Capital and reserves
Called up share capital 100 100
Retained earnings (41,249 ) (27,256 )
Shareholders' funds (41,149 ) (27,156 )

The notes form part of these financial statements

Page 2 continued...
The Bloomsbury Property Company
(Scarborough) Limited (Registered number: 09268832)

Balance Sheet - continued
31 December 2017


The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2017.

The members have not required the Company to obtain an audit of its financial statements for the year ended 31 December 2017 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 26 September 2018 and were signed on
its behalf by:





Mr William Pringle - Director


The notes form part of these financial statements

Page 3
The Bloomsbury Property Company
(Scarborough) Limited (Registered number: 09268832)

Notes to the Financial Statements
for the Year Ended 31 December 2017

1. Statutory information

The Bloomsbury Property Company (Scarborough) Limited is a private company, limited by shares ,
registered in England and Wales. The company's registered number and registered office address can
be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


The level of rounding used in the financial statements is to the nearest £1

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements
The financial statements contain information about The Bloomsbury Property Company (Scarborough)
Limited as an individual Company and do not contain consolidated financial information as the parent
of a group. The Company is exempt under Section 399(2A) of the Companies Act 2006 from the
requirements to prepare consolidated financial statements.

Turnover
The turnover shown in the profit and loss account represents the total invoice value, excluding value
added tax, of sales made during the year. Rental income is recognised in the profit and loss account in
the period in which the rents are due.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured
at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment properties are properties held to earn rentals or for capital appreciation or both.

Investment properties are initially measured at cost, including transaction costs. Subsequently
investment properties whose fair value can be measured reliably without undue cost or effort on an
on-going basis are measured at fair value. Gains and losses arising from changes in the fair value of
investment properties are included in the profit and loss in the period in which they arise. Deferred
taxation is provided on these gains.


Page 4 continued...
The Bloomsbury Property Company
(Scarborough) Limited (Registered number: 09268832)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2017

2. Accounting policies - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss
account 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 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.

Going concern - basis of preparation
In assessing the appropriateness of the application of the going concern basis, the directors have
considered the uncertainties around the general economic environment, the current and future
trading performance of the company and available cash. The directors have a reasonable
expectation that the company has adequate resources to continue in operational existence for the
foreseeable future, accordingly they continue to adopt the going concern basis in preparing the
financial statements.

3. Employees and directors

The average number of employees during the year was NIL (2016 - NIL).

4. Intangible fixed assets
Goodwill
£
Cost
At 1 January 2017
and 31 December 2017 161,499
Amortisation
At 1 January 2017 64,600
Amortisation for year 32,300
At 31 December 2017 96,900
Net book value
At 31 December 2017 64,599
At 31 December 2016 96,899

Page 5 continued...
The Bloomsbury Property Company
(Scarborough) Limited (Registered number: 09268832)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2017

5. Tangible fixed assets
Fixtures
and
fittings
£
Cost
At 1 January 2017
and 31 December 2017 95,000
Depreciation
At 1 January 2017 38,000
Charge for year 19,000
At 31 December 2017 57,000
Net book value
At 31 December 2017 38,000
At 31 December 2016 57,000

6. Fixed asset investments
Shares in
group
undertakings
£
Cost
At 1 January 2017
and 31 December 2017 100
Net book value
At 31 December 2017 100
At 31 December 2016 100

7. Investment property
Total
£
Fair value
At 1 January 2017
and 31 December 2017 861,720
Net book value
At 31 December 2017 861,720
At 31 December 2016 861,720

The completed investment properties are stated at fair value in accordance with the requirements of
Section 1A ''Small Entities'' of Financial Reporting Standard 102 ''The Financial Reporting Standard
applicable in the UK and Republic of Ireland''.

The investment properties have been valued by the directors at fair value taking into account existing
tenancy arrangements.

Page 6 continued...
The Bloomsbury Property Company
(Scarborough) Limited (Registered number: 09268832)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2017

8. Debtors: amounts falling due within one year
2017 2016
£ £
Amounts owed by group undertakings 28,085 -
Other debtors 6,887 8,271
34,972 8,271

9. Creditors: amounts falling due within one year
2017 2016
£ £
Bank loans and overdrafts 26,536 27,588
Trade creditors 2 3
Amounts owed to group undertakings - 10,666
Other creditors 328,920 301,465
355,458 339,722

10. Creditors: amounts falling due after more than one year
2017 2016
£ £
Bank loans 694,116 720,399

Amounts falling due in more than five years:

Repayable by instalments
Bank loans falling due after more than
five years
580,048
602,553

11. Secured debts

The following secured debts are included within creditors:

2017 2016
£ £
Bank loans 720,652 747,987

The bank borrowings included in creditors due within and after more than one year are secured by a
debenture and a first legal charge over freehold investment property owned by the company.

Further security in relation to the bank borrowings is also provided by the subsidiary company First Resort
Events Limited.

12. Related party transactions

The company has taken advantage of the exemption in section 33.1A of FRS 102 to not disclose
related party transactions entered into with its wholly owned subsidiary.

Directors' current account
Included in creditors due within one year is £299,941 (2016 £299,941) owing to a director of the
company. The loan is repayable on demand, and no interest has been charged to the company on
the amount outstanding.

Page 7 continued...
The Bloomsbury Property Company
(Scarborough) Limited (Registered number: 09268832)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2017

13. Going concern

The directors have continued to adopt the going concern basis for the preparation of the accounts.
The company continues to operate with the support of its directors.

Page 8