ACCOUNTS - Final Accounts preparation

ACCOUNTS - Final Accounts preparation

B&R REAL ESTATE LIMITED - Company Information

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Caseware UK (AP4) 2016.0.208 2016.0.208 2018-03-312018-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truefalserental propertyfalse2017-04-01 10287155 2017-04-01 2018-03-31 10287155 2016-04-01 2017-03-31 10287155 2018-03-31 10287155 2017-03-31 10287155 c:Director1 2017-04-01 2018-03-31 10287155 d:FreeholdInvestmentProperty 2017-04-01 2018-03-31 10287155 d:FreeholdInvestmentProperty 2018-03-31 10287155 d:FreeholdInvestmentProperty 2017-03-31 10287155 d:CurrentFinancialInstruments d:WithinOneYear 2018-03-31 10287155 d:CurrentFinancialInstruments d:WithinOneYear 2017-03-31 10287155 d:ShareCapital 2018-03-31 10287155 d:ShareCapital 2017-03-31 10287155 d:RetainedEarningsAccumulatedLosses 2018-03-31 10287155 d:RetainedEarningsAccumulatedLosses 2017-03-31 10287155 c:FRS102 2017-04-01 2018-03-31 10287155 c:AuditExempt-NoAccountantsReport 2017-04-01 2018-03-31 10287155 c:FullAccounts 2017-04-01 2018-03-31 10287155 c:PrivateLimitedCompanyLtd 2017-04-01 2018-03-31 iso4217:GBP xbrli:pure

Registered number: 10287155
















B&R REAL ESTATE LIMITED


UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MARCH 2018
































B&R REAL ESTATE LIMITED
REGISTERED NUMBER:10287155

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2018

2018
2017
Note
£
£

Fixed assets
  

Investment property
 4 
1,462,736
1,224,793

  
1,462,736
1,224,793

Current assets
  

Debtors: amounts falling due within one year
  
3,436
2,798

Cash at bank and in hand
  
65,864
11,789

  
69,300
14,587

Creditors: amounts falling due within one year
  
(1,478,158)
(1,234,618)

Net current liabilities
  
 
 
(1,408,858)
 
 
(1,220,031)

Total assets less current liabilities
  
53,878
4,762

  

Net assets
  
53,878
4,762


Capital and reserves
  

Called up share capital 
  
200
200

Profit and loss account
  
53,678
4,562

  
53,878
4,762


Page 1

B&R REAL ESTATE LIMITED
REGISTERED NUMBER:10287155
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2018

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 





Mr W R Brown
Director

Date: 20 December 2018

The notes on pages 3 to 4 form part of these financial statements.

Page 2

B&R REAL ESTATE LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2018

1.


General information

B&R Real Estate Limited is a private limited company incorporated in England and Wales. The company's registered office is c/o Ivf Bioscience, Bickland Industrial Park, Falmouth, Cornwall, TR11 4TA and the company registration number is 10287155.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
∙the amount of turnover can be measured reliably;
∙it is probable that the Company will receive the consideration due under the contract;
∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and
∙the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Statement of income and retained earnings on a straight line basis over the lease term.

 
2.4

Taxation

Tax is recognised in the Statement of income and retained earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

 
2.5

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of income and retained earnings.

Page 3

B&R REAL ESTATE LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2018

2.Accounting policies (continued)

 
2.6

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the period was 2 (2017: 2).


4.


Investment property


Freehold investment property

£



Valuation


At 1 April 2017
1,224,793


Additions at cost
237,943



At 31 March 2018
1,462,736

The 2018 valuations were made by the directors, on an open market value for existing use basis.




 
Page 4