Year Ended
Registration number:
My Bovey Tracey Rental Ltd
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
My Bovey Tracey Rental Ltd
Company Information
Directors |
D N Jones K L Jones |
Registered office |
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Accountants |
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My Bovey Tracey Rental Ltd
Balance Sheet
31 August 2023
Note |
2023 |
2022 |
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Fixed assets |
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Investment property |
- |
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Current assets |
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Debtors |
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- |
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Cash at bank and in hand |
- |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
( |
( |
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Shareholders' deficit |
( |
( |
My Bovey Tracey Rental Ltd
Balance Sheet
31 August 2023
For the financial year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
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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 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: 13272786
My Bovey Tracey Rental Ltd
Notes to the Unaudited Financial Statements
Year Ended 31 August 2023
General information |
The company is a private company limited by share capital, incorporated in United Kingdom.
The address of its registered office is:
United Kingdom
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 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.
Going concern
The company ceased trading on 31 August 2023, therefore, the financial statements have not been prepared on a going concern basis.
Revenue recognition
Turnover comprises rents receivable from tenants. The company recognises revenue when receivable.
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.
My Bovey Tracey Rental Ltd
Notes to the Unaudited Financial Statements
Year Ended 31 August 2023
Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Investment property
My Bovey Tracey Rental Ltd
Notes to the Unaudited Financial Statements
Year Ended 31 August 2023
Financial instruments
Classification
• Short term trade and other debtors and creditors;
• Bank loans; and
• 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.
Except for bank loans, such 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.
Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Investment properties |
2023 |
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At 1 September |
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Disposals |
( |
At 31 August |
- |
The investment property was disposed of in the year.
My Bovey Tracey Rental Ltd
Notes to the Unaudited Financial Statements
Year Ended 31 August 2023
Debtors |
2023 |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
2023 |
2022 |
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Due within one year |
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Corporation tax |
- |
1,455 |
Other creditors |
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Accruals and deferred income |
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Share capital |
Allotted, called up and fully paid shares
2023 |
2022 |
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No. |
£ |
No. |
£ |
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2 |
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2 |
Reserves |
The profit and loss represents cumulative profits or losses, net of dividends paid and other adjustments. Included in the carried forward balance is £Nil (2022 - £26,971) in relation to unrealised losses on investment properties.