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Bottco Developments Ltd

Annual Report and Unaudited Financial Statements
Year Ended 31 March 2019

Registration number: 09790147

 

Bottco Developments Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 8

 

Bottco Developments Ltd

Company Information

Director

Mr Thomas Mccarthy

Registered office

Centenary House
Peninsula Park
Rydon Lane
Exeter
EX2 7XE

Accountants

Francis Clark LLP
Centenary House
Peninsula Park
Rydon Lane
Exeter
EX2 7XE

 

Bottco Developments Ltd

Balance Sheet

31 March 2019

Note

2019
£

2018
£

Fixed assets

 

Tangible assets

4

1,045

1,393

Investment property

5

1,970,000

2,020,000

 

1,971,045

2,021,393

Current assets

 

Debtors

6

36,006

38,277

Cash at bank and in hand

 

135,176

74,173

 

171,182

112,450

Creditors: Amounts falling due within one year

7

(2,048,693)

(2,028,873)

Net current liabilities

 

(1,877,511)

(1,916,423)

Net assets

 

93,534

104,970

Capital and reserves

 

Called up share capital

10,000

10,000

Profit and loss account

83,534

94,970

Shareholders' funds

 

93,534

104,970

 

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 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 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 director on 17 April 2024
 

.........................................
Mr Thomas Mccarthy
Director

Company Registration Number: 09790147

 

Bottco Developments Ltd

Notes to the Financial Statements

Year Ended 31 March 2019

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Centenary House
Peninsula Park
Rydon Lane
Exeter
EX2 7XE

The principal place of business is:
Westpoint House
32-34 Albert Street
Fleet
GU51 3RW

These financial statements were authorised for issue by the director on 17 April 2024.

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 - '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

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

 

Bottco Developments Ltd

Notes to the Financial Statements

Year Ended 31 March 2019

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other creditors;
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

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.


 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2018 - 1).

 

Bottco Developments Ltd

Notes to the Financial Statements

Year Ended 31 March 2019

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2018

2,370

2,370

At 31 March 2019

2,370

2,370

Depreciation

At 1 April 2018

977

977

Charge for the year

348

348

At 31 March 2019

1,325

1,325

Carrying amount

At 31 March 2019

1,045

1,045

At 31 March 2018

1,393

1,393

5

Investment properties

2019
£

At 1 April

2,020,000

Fair value adjustments

(50,000)

At 31 March

1,970,000

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

6

Debtors

2019
£

2018
£

Trade debtors

27,988

35,057

Prepayments

8,018

3,220

36,006

38,277

7

Creditors

Creditors: amounts falling due within one year

2019
 £

2018
 £

Due within one year

Trade creditors

18,450

9,500

Corporation tax

21,425

12,125

Other creditors

1,998,922

1,998,721

Accruals and deferred income

9,896

8,527

2,048,693

2,028,873

8

Share capital

Allotted, called up and fully paid shares

 

2019

2018

 

No.

£

No.

£

Ordinary A of £1 each

700

700

700

700

Ordinary B of £1 each

300

300

300

300

Ordinary C of £1 each

9,000

9,000

9,000

9,000

 

10,000

10,000

10,000

10,000

The shares rank pari passu in all respects.

9

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.