Company No:
Contents
DIRECTOR | Mr T T Mccarthy |
REGISTERED OFFICE | Centenary House Peninsula Park |
Rydon Lane | |
Exeter | |
EX2 7XE | |
United Kingdom |
COMPANY NUMBER | 09790147 (England and Wales) |
CHARTERED ACCOUNTANTS | Francis Clark LLP |
Centenary House | |
Peninsula Park | |
Rydon Lane | |
Exeter | |
Devon EX2 7XE |
Note | 2021 | 2020 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 3 |
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Investment property | 4 |
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1,855,588 | 1,940,784 | |||
Current assets | ||||
Debtors | 5 |
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Cash at bank and in hand |
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189,276 | 140,221 | |||
Creditors | ||||
Amounts falling due within one year | 6 | (
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Net current liabilities | (1,816,293) | (1,839,713) | ||
Total assets less current liabilities | 39,295 | 101,071 | ||
Net assets |
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Capital and reserves | ||||
Called-up share capital | 7 |
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Profit and loss account |
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Total shareholders' funds |
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Director's responsibilities:
The financial statements of Bottco Developments Limited (registered number:
Mr T T Mccarthy
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year.
Bottco Developments Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Centenary House Peninsula Park, Rydon Lane, Exeter, EX2 7XE, United Kingdom. The principal place of business is Westpoint House, 32-34 Albert Street, Fleet, GU51 3RW.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council.
The functional currency of Bottco Developments Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.
Turnover represents rental income which is recognised in the period to which it relates with accrued and deferred income adjusted as necessary.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Fixtures and fittings - 25% reducing balance
Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
2021 | 2020 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including the director |
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Plant and machinery etc. | Total | ||
£ | £ | ||
Cost | |||
At 01 April 2020 |
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At 31 March 2021 |
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Accumulated depreciation | |||
At 01 April 2020 |
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Charge for the financial year |
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At 31 March 2021 |
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Net book value | |||
At 31 March 2021 |
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At 31 March 2020 |
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Investment property | |
£ | |
Valuation | |
As at 01 April 2020 |
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Fair value movement | (85,000) |
As at 31 March 2021 |
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The fair value of the company's investment property was determined on 31 March 2021. An independent valuer was not involved. The valuations have been carried out by the director on an open market basis.
2021 | 2020 | ||
£ | £ | ||
Trade debtors |
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Other debtors |
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2021 | 2020 | ||
£ | £ | ||
Trade creditors |
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Accruals and deferred income |
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Taxation and social security |
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Other creditors |
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2021 | 2020 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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10,000 | 10,000 |
Transactions with the entity's director
2021 | 2020 | ||
£ | £ | ||
Shareholder Loan | 1,945,498 | 1,945,579 |
This loan is interest free and repayable on demand.