Year Ended
Registration number:
Bottco Developments Ltd
Contents
Company Information |
|
Balance Sheet |
|
Notes to the Financial Statements |
Bottco Developments Ltd
Company Information
Director |
Mr Thomas Mccarthy |
Registered office |
|
Accountants |
|
Bottco Developments Ltd
Balance Sheet
31 March 2019
Note |
2019 |
2018 |
|
Fixed assets |
|||
Tangible assets |
|
|
|
Investment property |
|
|
|
|
|
||
Current assets |
|||
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current liabilities |
( |
( |
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
|
|
|
Profit and loss account |
|
|
|
Shareholders' funds |
|
|
Bottco Developments Ltd
Balance Sheet
31 March 2019
For the financial year ending 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• |
|
• |
The director acknowledges 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 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: 09790147
Bottco Developments Ltd
Notes to the Financial Statements
Year Ended 31 March 2019
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:
Westpoint House
32-34 Albert Street
Fleet
GU51 3RW
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', including Section 1A and the Companies Act 2006. There are no material departures from FRS 102.
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. All values shown are in pounds sterling unless otherwise stated, as this is the functional currency the company operates in.
Going concern
The director of Bottco Developments Limited has considered the financial impact of COVID-19.
In the opinion of the director, the company has sufficient working capital within existing facilities to continue to trade for the foreseeable future, and therefore the accounts have been prepared on a going concern basis.
Bottco Developments Ltd
Notes to the Financial Statements
Year Ended 31 March 2019
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of rebates and discounts and after eliminating sales within the company.
Turnover represents rental income which is recognised in the period to which it relates with accrued and deferred income adjusted as necessary.
Tangible assets
Tangible assets are stated in the balance sheet 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 |
Fixtures and fittings |
25% reducing balance |
Investment property
Bottco Developments Ltd
Notes to the Financial Statements
Year Ended 31 March 2019
Financial instruments
Classification
• Short term trade and other creditors;
• Cash and bank balances.
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.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Bottco Developments Ltd
Notes to the Financial Statements
Year Ended 31 March 2019
Tangible assets |
Furniture, fittings and equipment |
Total |
|
Cost or valuation |
||
At 1 April 2018 |
|
|
At 31 March 2019 |
|
|
Depreciation |
||
At 1 April 2018 |
|
|
Charge for the year |
|
|
At 31 March 2019 |
|
|
Carrying amount |
||
At 31 March 2019 |
|
|
At 31 March 2018 |
|
|
Investment properties |
2019 |
|
At 1 April |
|
Fair value adjustments |
( |
At 31 March |
|
The fair value of the company's investment property was determined on 31 March 2019. An independent valuer was not involved. The valuations have been carried out by the director on an open market basis.
Bottco Developments Ltd
Notes to the Financial Statements
Year Ended 31 March 2019
Debtors |
2019 |
2018 |
|
Trade debtors |
|
|
Prepayments |
|
|
|
|
Creditors |
Creditors: amounts falling due within one year
2019 |
2018 |
|
Due within one year |
||
Trade creditors |
|
|
Corporation tax |
21,425 |
12,125 |
Other creditors |
|
|
Accruals and deferred income |
|
|
|
|
Share capital |
Allotted, called up and fully paid shares
2019 |
2018 |
|||
No. |
£ |
No. |
£ |
|
|
|
700 |
|
700 |
|
|
300 |
|
300 |
|
|
9,000 |
|
9,000 |
|
|
|
|
The shares rank pari passu in all respects.
Related party transactions |
Transactions with directors
During the year, the company relied on the financial support of its former director, in the form of an interest free loan advanced to the company. The amount outstanding at the balance sheet date was £1,998,922 (2018: £1,998,721). The loan is repayable on demand.