Burpenta Investments Limited
Burpenta Investments Limited
Registered number: 02412803
Financial Statements
For The Year Ended 31 March 2018
Burpenta Investments Limited
Financial Statements
For The Year Ended 31 March 2018
Financial Statements
| Contents | |
| Page | |
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| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—6 |
Burpenta Investments Limited
Balance Sheet
As at
31 March 2018
Balance Sheet
Registered number:
02412803
For the year ending 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| 2018 | 2017 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 5 |
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| CURRENT ASSETS | |||||
| Debtors | 7 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 8 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year | 9 |
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| PROVISIONS FOR LIABILITIES | |||||
| Deferred Taxation |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 11 |
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| Revaluation reserve | 12 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | 1,273,929 | 1,384,847 | |||
Page 1
Burpenta Investments Limited
Balance Sheet (continued)
As at
31 March 2018
Director's responsibilities
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The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. -
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
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The notes on pages 3 to 6 form part of these financial statements.
Page 2
Burpenta Investments Limited
Notes to the Financial Statements
For The Year Ended 31 March 2018
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
1.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Freehold |
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| Leasehold |
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| Plant & Machinery |
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1.4.
Investment Properties
Investment properties shall not be subject to periodic charges for depreciation except for properties held on lease, which shall be depreciated at least over the period when the unexpired term is 20 years or less.
Investment properties shall be included in the balance sheet at their market value.
1.5.
Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
Page 3
Burpenta Investments Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2018
5.
Tangible Assets
| Land & Property | |||||
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| Freehold | Leasehold | Investment Properties | Plant & Machinery | Total | |
| £ | £ | £ | £ | £ | |
| Cost | |||||
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| Additions |
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| Revaluation | - | - | 2,364 | - |
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| Depreciation | |||||
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| Provided during the period |
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| Net Book Value | |||||
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The investment properties were last revalued on 31/3/18 by the director who based the valuation on his knowledge of the local market and after consultation with the agents.
The historic cost of the properties is £ 1,308,435 ( 2017 - £1,165,799).
Provision for deferred tax liability of £42,000 has been made although this would only arise if the company were to sell the properties at the value reflection in the accounts. At present there is no intention to sell these investment properties.
Page 4
Burpenta Investments Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2018
7.
Debtors
| 2018 | 2017 | ||
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| £ | £ | ||
| Due within one year | |||
| Trade debtors |
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| Other debtors |
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| Amounts owed by related companies (Debtors < 1 year) |
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| Due after more than one year | |||
| Amounts owed by associates |
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8.
Creditors: Amounts Falling Due Within One Year
| 2018 | 2017 | ||
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| £ | £ | ||
| Trade creditors |
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| Corporation tax |
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| Other creditors |
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| Accruals and deferred income |
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| Director's loan account | - |
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9.
Creditors: Amounts Falling Due After More Than One Year
| 2018 | 2017 | ||
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| £ | £ | ||
| Bank loans |
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Page 5
Burpenta Investments Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2018
10.
Secured Creditors
Of the creditors falling due within and after more than one year the following amounts are secured.
| 2018 | 2017 | ||
|---|---|---|---|
| £ | £ | ||
| Bank loans and overdrafts | 432,700 | 291,200 |
12.
Reserves
| Revaluation Reserve | |
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| As at |
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| Surplus on revaluation |
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13.
Related Party Transactions
Burfield Construction (London ) Limited
Mr N R Burgess is the common director.
Intercompany debtor £ 82,733 ( 2017 - £64,663). The companies also share some overheads.
14.
General Information
Burpenta Investments Limited Registered number 02412803 is a limited by shares company incorporated in England & Wales. The Registered Office is 925 Finchley Road, London, NW11 7PE.
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