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Financial Statements for the Year Ended 31 March 2020 |
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BATTLECROFT LIMITED |
REGISTERED NUMBER:
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Financial Statements for the Year Ended 31 March 2020 |
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for |
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BATTLECROFT LIMITED |
BATTLECROFT LIMITED (REGISTERED NUMBER: 02783199) |
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Contents of the Financial Statements |
for the year ended 31 March 2020 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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BATTLECROFT LIMITED |
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Company Information |
for the year ended 31 March 2020 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Statutory Auditor |
Chartered Accountants |
9 Worton Park |
Cassington |
Witney |
Oxfordshire |
OX29 4SX |
BATTLECROFT LIMITED (REGISTERED NUMBER: 02783199) |
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Balance Sheet |
31 March 2020 |
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2020 | 2019 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 8 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
were signed on its behalf by: |
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BATTLECROFT LIMITED (REGISTERED NUMBER: 02783199) |
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Notes to the Financial Statements |
for the year ended 31 March 2020 |
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1. | STATUTORY INFORMATION |
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Battlecroft Limited is a
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registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The financial statements have been prepared on the going concern basis as, in the opinion of the directors, the |
company has adequate facilities available to meet its debts as and when they become payable. |
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Turnover |
The turnover shown in the profit and loss account represents rents and service charges receivable during the |
year. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
balance sheet date. |
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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. |
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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. |
BATTLECROFT LIMITED (REGISTERED NUMBER: 02783199) |
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Notes to the Financial Statements - continued |
for the year ended 31 March 2020 |
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2. | ACCOUNTING POLICIES - continued |
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Investment property |
The Company's investment property portfolio is assessed by its directors on an open market basis at 31st March |
2020 using yield calculation. |
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The assessment of the Company's portfolio is inherently subjective, depending on many factors including the |
individual nature of each property, its location and expected future rental values, market yields and comparable |
market transactions. Therefore the assessment is subject to a degree of uncertainty and is made on the basis of |
assumptions which may not prove to be accurate, particularly in periods of market volatility. |
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The portfolio of investment properties owned are shown at their open market value as a whole. The surplus or |
deficit arising from the annual revaluation is transferred in the investment revaluation reserve. |
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This is in accordance with the Financial Reporting Standard 102 section 1A (effective January 2016) which, |
unlike Companies Act 2006, does not require depreciation of investment properties. Investment properties are |
held for their investment potential and not for use by the company and so their current value is of prime |
importance. The departure from the provisions of the Act is required in order to give a true and fair view. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2019 - NIL). |
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4. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
At 1 April 2019 |
and 31 March 2020 |
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NET BOOK VALUE |
At 31 March 2020 |
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At 31 March 2019 |
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Fair value at 31 March 2020 is represented by: |
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£ |
Valuation in 2006 | 6,449,439 |
Valuation in 2009 | (1,000,000 | ) |
Valuation in 2011 | (1,500,000 | ) |
Valuation in 2014 | 500,000 |
Valuation in 2015 | 200,000 |
Cost | 9,623,005 |
14,272,444 |
BATTLECROFT LIMITED (REGISTERED NUMBER: 02783199) |
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Notes to the Financial Statements - continued |
for the year ended 31 March 2020 |
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4. | INVESTMENT PROPERTY - continued |
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If the investment properties had not been revalued they would have been included at the following historical |
cost: |
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2020 | 2019 |
£ | £ |
Cost | 9,623,005 | 9,623,005 |
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Investment properties were valued on an open market basis on 31 March 2020 by the Directors. . |
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The valuation of investment properties on an open market basis present no material difference to those of 2015. |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Trade debtors |
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Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Trade creditors | ( |
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Amounts owed to group undertakings |
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Taxation and social security |
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Other creditors |
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Amounts owed to group undertakings confirmed by Directors as payable on demand for 2020 onwards. |
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7. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2020 | 2019 |
£ | £ |
Mortgage Loan | - | 2,940,048 |
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8. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2020 | 2019 |
value: | £ | £ |
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Ordinary | 1 | 1,000 | 1,000 |
BATTLECROFT LIMITED (REGISTERED NUMBER: 02783199) |
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Notes to the Financial Statements - continued |
for the year ended 31 March 2020 |
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9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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10. | FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES |
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In common with many other businesses of our size and nature we use our auditors to prepare and submit |
returns to the tax authorities and assist with the preparation of the financial statements. |