Period from 29 March 2022 to
Registration number:
Onyx Business Parks Barnstaple Ltd (previously named Burrington Estates CD Barnstaple Ltd)
Contents
Balance Sheet |
|
Notes to the Financial Statements |
Onyx Business Parks Barnstaple Ltd (previously named Burrington Estates CD Barnstaple Ltd)
Balance Sheet
29 September 2023
Note |
2023 |
|
Current assets |
||
Stocks |
|
|
Debtors |
|
|
|
||
Creditors: Amounts falling due within one year |
( |
|
Net liabilities |
( |
|
Capital and reserves |
||
Called up share capital |
|
|
Profit and loss account |
( |
|
Shareholders' deficit |
( |
These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
......................................... |
Company Registration Number: 14010541
Onyx Business Parks Barnstaple Ltd (previously named Burrington Estates CD Barnstaple Ltd)
Notes to the Financial Statements
Period from 29 March 2022 to 29 September 2023
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
The principal place of business is:
Roundswell Business Park
South of A39
Barnstaple
Devon
EX31 3RZ
These financial statements were authorised for issue by the
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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of Section 1A of FRS102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in pounds sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound.
Basis of preparation
These financial statements have been prepared using the historical cost convention.
Audit report
Onyx Business Parks Barnstaple Ltd (previously named Burrington Estates CD Barnstaple Ltd)
Notes to the Financial Statements
Period from 29 March 2022 to 29 September 2023
Disclosure of long or short period
This decision was taken in order to bring its accounting reference date in line with that of the ultimate parent undertaking, MJL Cornwall Limited.
Going concern
At the balance sheet date the company has net liabilities of £4,138.
During the period the company started work on the development of a site, which is projected to be profitable over the full term of the project. As a result the Directors continue to adopt the going concern assertion in the preparation of the financial statements.
Tax
Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current corporation 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 taxable income.
Stocks
Stock of land and work in progress are stated at the lower of cost and net realisable value.
Cost includes all statutory and professional fees relating to the acquisition of a site, obtaining planning consents, directly attributable staff and borrowing costs (where applicable), and other costs of construction.
Related party transactions
The company has claimed exemption under Paragraph 33.1A of FRS 102 whereby disclosures need not be given of transactions that have taken place between two or more members of group, provided that any subsidiary which is a party to the transaction is wholly owned by such a member.
Onyx Business Parks Barnstaple Ltd (previously named Burrington Estates CD Barnstaple Ltd)
Notes to the Financial Statements
Period from 29 March 2022 to 29 September 2023
Financial instruments
Classification
• Short term trade and other debtors and creditors; and
• Work in progress
All financial instruments are classified as basic.
Recognition and measurement
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.
Instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.
Onyx Business Parks Barnstaple Ltd (previously named Burrington Estates CD Barnstaple Ltd)
Notes to the Financial Statements
Period from 29 March 2022 to 29 September 2023
Critical judgements and estimation uncertainty
In applying the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The following are regarded by the Directors as key areas of estimation:
Recoverable value of work in progress (note 4)
The Directors have considered the carrying value of work in progress at the balance sheet date, in the context of future costs to complete and expected sales values for completed units. As a result of this exercise the Directors are satisfied that work in progress is recognised at the lower of cost and net realisable value such that no impairment is necessary.
At the balance sheet date the carrying value of work in progress was £165,956.
Staff numbers |
The average number of persons employed by the company (including directors) during the period, was
Stocks |
2023 |
|
Work in progress |
|
Debtors |
2023 |
|
Other debtors |
|
|
Onyx Business Parks Barnstaple Ltd (previously named Burrington Estates CD Barnstaple Ltd)
Notes to the Financial Statements
Period from 29 March 2022 to 29 September 2023
Creditors |
Creditors: amounts falling due within one year
2023 |
|
Due within one year |
|
Trade creditors |
|
Amounts due to group undertakings |
|
Accrued expenses |
|
|
Share capital |
Allotted, called up and fully paid shares
2023 |
||
No. |
£ |
|
|
|
100 |
During the period the company issued 100 ordinary shares at par value. These shares were issued on incorporation of the company as subscriber shares.
Parent and ultimate parent undertaking |
The company's immediate parent is
The ultimate parent is
The most senior parent entity producing publicly available financial statements is
The ultimate controlling party is
Onyx Business Parks Barnstaple Ltd (previously named Burrington Estates CD Barnstaple Ltd)
Notes to the Financial Statements
Period from 29 March 2022 to 29 September 2023
Audit report |
The financial statements for the period ended 30 September 2023 were audited by:
PKF Francis Clark, statutory auditor
Lowin House
Tregolls Road
Truro
Cornwall
TR1 2NA
The senior statutory auditor was Michael Bentley ACA DChA
An unqualified and unmodified auditors' report on the financial statements for the period ended 29 September 2023 has been issued.