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Registration number: 06653738

Nicholas Breese Building Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 July 2018

image-name

Chartered Accountants

 

Nicholas Breese Building Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 6

 

Nicholas Breese Building Limited

Company Information

Directors

Mr Nicholas Breese

Mrs Stacey Breese

Registered office

1 Northwood Cottages
Ram's Hill
Manston
STURMINSTER NEWTON
Dorset
DT10 1HD

Accountants

Edwards & Keeping
Chartered Accountants
Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA

 

Nicholas Breese Building Limited

(Registration number: 06653738)
Balance Sheet as at 31 July 2018

Note

2018
 

2017
 

   

£

£

£

£

Fixed assets

   

 

Tangible assets

5

 

2,886

 

3,852

Current assets

   

 

Debtors

6

133

 

1,346

 

Cash at bank and in hand

 

221

 

432

 

 

354

 

1,778

 

Creditors: Amounts falling due within one year

7

(18,524)

 

(28,140)

 

Net current liabilities

   

(18,170)

 

(26,362)

Net liabilities

   

(15,284)

 

(22,510)

Capital and reserves

   

 

Called up share capital

100

 

100

 

Profit and loss account

(15,384)

 

(22,610)

 

Total equity

   

(15,284)

 

(22,510)

For the financial year ending 31 July 2018 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised for issue by the Board on 19 October 2018 and signed on its behalf by:
 


Mr Nicholas Breese
Director

   
 

Nicholas Breese Building Limited

Notes to the Financial Statements
for the Year Ended 31 July 2018

1

General information

The company is a private company limited by share capital, incorporated in UK.

The address of its registered office is:
1 Northwood Cottages
Ram's Hill
Manston
STURMINSTER NEWTON
Dorset
DT10 1HD

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and equipment

25% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

 

Nicholas Breese Building Limited

Notes to the Financial Statements
for the Year Ended 31 July 2018

Asset class

Amortisation method and rate

Goodwill

3 years straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2017 - 2).

 

Nicholas Breese Building Limited

Notes to the Financial Statements
for the Year Ended 31 July 2018

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 August 2017

5,000

5,000

At 31 July 2018

5,000

5,000

Amortisation

At 1 August 2017

5,000

5,000

At 31 July 2018

5,000

5,000

Carrying amount

At 31 July 2018

-

-

Revalued assets for the year ended 31 July 2018

Revalued assets for the year ended 31 July 2017

5

Tangible assets

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 August 2017

12,885

7,873

20,758

At 31 July 2018

12,885

7,873

20,758

Depreciation

At 1 August 2017

9,732

7,174

16,906

Charge for the year

791

175

966

At 31 July 2018

10,523

7,349

17,872

Carrying amount

At 31 July 2018

2,362

524

2,886

At 31 July 2017

3,153

699

3,852

6

Debtors

2018
£

2017
£

Trade debtors

-

1,325

Prepayments

133

21

133

1,346

7

Creditors

Creditors: amounts falling due within one year

 

Nicholas Breese Building Limited

Notes to the Financial Statements
for the Year Ended 31 July 2018

Note

2018
£

2017
£

Due within one year

 

Amounts owed to group undertakings and undertakings in which the company has a participating interest

18,074

27,690

Other creditors

 

450

450

 

18,524

28,140

8

Share capital

Allotted, called up and fully paid shares

 

2018

2017

 

No.

£

No.

£

100 Ordinary shares of £1 each

100

100

100

100

         

9

Parent and ultimate parent undertaking

The ultimate controlling party is Mr N Breese who owns 70% of the share capital.