General Information
B & G Associates (Southampton) Limited is a private company, limited by shares, registered in England and Wales, registration number 02975200, registration address B & G Associates Southampton, Limited 8 Fern Way Titchfield Park, Fareham, PO15 5RP. The presentation currency is £ sterling.
| 1. |
Accounting policies
Significant accounting policies
Basis of preparing the financial statements
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 the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Plant and machinery etc - 25% on reducing balance
Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current or deferred taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
| Plant and Machinery |
25% Reducing Balance
|
| Motor Vehicles |
25% Reducing Balance
|
| Fixtures and Fittings |
25% Reducing Balance
|
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
|
| 2. |
Average number of employees
Average number of employees during the year was 1 (2024 : 1).
|
| 3. |
Tangible fixed assets
| Cost or valuation |
Plant and Machinery |
|
Motor Vehicles |
|
Fixtures and Fittings |
|
Total |
| |
£ |
|
£ |
|
£ |
|
£ |
| At 01 April 2024 |
2,100 |
|
3,600 |
|
8,019 |
|
13,719 |
| Additions |
8,856 |
|
- |
|
- |
|
8,856 |
| Disposals |
- |
|
- |
|
- |
|
- |
| At 31 March 2025 |
10,956 |
|
3,600 |
|
8,019 |
|
22,575 |
| Depreciation |
| At 01 April 2024 |
630 |
|
3,237 |
|
7,047 |
|
10,914 |
| Charge for year |
2,581 |
|
91 |
|
243 |
|
2,915 |
| On disposals |
- |
|
- |
|
- |
|
- |
| At 31 March 2025 |
3,211 |
|
3,328 |
|
7,290 |
|
13,829 |
| Net book values |
| Closing balance as at 31 March 2025 |
7,745 |
|
272 |
|
729 |
|
8,746 |
| Opening balance as at 01 April 2024 |
1,470 |
|
363 |
|
972 |
|
2,805 |
|
| 4. |
Investments
| Cost |
Other investments other than loans |
|
Total |
| |
£ |
|
£ |
| At 01 April 2024 |
2,074,383 |
|
2,074,383 |
| Additions |
- |
|
- |
| Transfer to/from tangible fixed assets |
0 |
|
0 |
| Disposals |
- |
|
- |
| Revaluations |
(30,483) |
|
(30,483) |
| At 31 March 2025 |
2,043,900 |
|
2,043,900 |
|
| 5. |
Fair Value Reserves
|
2025
£ |
|
2024
£ |
| Fair Value Reserve |
157,467 |
|
157,467 |
|
157,467 |
|
157,467 |
|
3
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