IRIS Accounts Production
v18.1.2.30
02783199
Board of Directors
1.4.17
31.3.18
31.3.18
14/6/18
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true
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Auditors Opinion
Fair value model
Ordinary
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2017-03-31
02783199
2018-03-31
02783199
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2018-03-31
02783199
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02783199
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2017-03-31
02783199
2017-03-31
02783199
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2018-03-31
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2018-03-31
REGISTERED NUMBER:
02783199
(England and Wales)
|
Financial Statements for the Year Ended 31 March 2018
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Notes to the Financial Statements
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3
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REGISTERED OFFICE:
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9 Worton Park
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REGISTERED NUMBER:
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02783199 (England and Wales)
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AUDITORS:
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Camerons Accountancy Consultants Limited
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Investment property
|
3
|
14,272,444
|
|
14,272,444
|
|
|
Cash at bank
|
277,541
|
|
217,421
|
|
|
Amounts falling due within one
year
|
5
|
3,343,839
|
|
382,319
|
|
|
NET CURRENT LIABILITIES
|
(3,052,286
|
) |
(138,660
|
) |
|
TOTAL ASSETS LESS CURRENT
LIABILITIES
|
11,220,158
|
|
14,133,784
|
|
|
Amounts falling due after more
than one year
|
6
|
(1,624,550
|
) |
(4,914,598
|
) |
|
PROVISIONS FOR LIABILITIES
|
(883,000
|
) |
(874,000
|
) |
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NET ASSETS
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8,712,608
|
|
8,345,186
|
|
|
Called up share capital
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8
|
1,000
|
|
1,000
|
|
|
Retained earnings
|
8,711,608
|
|
8,344,186
|
|
|
SHAREHOLDERS' FUNDS
|
8,712,608
|
|
8,345,186
|
|
|
The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors on
14 June 2018 and were
signed on its behalf by:
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|
Battlecroft Limited is a
private company, limited by shares , registered in England and
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|
Wales. The company's registered number and registered office address can be found on
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the Company Information page.
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|
Basis of preparing the financial statements
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|
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets. |
|
The financial statements have been prepared on the going concern basis as, in the
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opinion of the directors, the company has adequate facilities available to meet its debts
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as and when they become payable.
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The turnover shown in the profit and loss account represents rents and service charges
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receivable during the year.
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Taxation for the year comprises current and deferred tax. Tax is recognised in the
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Income Statement, except to the extent that it relates to items recognised in other
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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
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have been enacted or substantively enacted by the balance sheet date.
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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
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periods different from those in which they are recognised in financial statements.
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Deferred tax is measured using tax rates and laws that have been enacted or
|
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substantively enacted by the year end and that are expected to apply to the reversal of
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent
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that it is probable that they will be recovered against the reversal of deferred tax
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liabilities or other future taxable profits.
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The Company's investment property portfolio is assessed by its directors on an open
|
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market basis at 31st March 2018 using yield calculation.
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The assessment of the Company's portfolio is inherently subjective, depending on many
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factors including the individual nature of each property, its location and expected future
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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
|
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assumptions which may not prove to be accurate, particularly in periods of market
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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
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investment revaluation reserve.
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This is in accordance with the Financial Reporting Standard 102 section 1A (effective
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January 2016) which, unlike Companies Act 2006, does not require depreciation of
|
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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
|
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departure from the provisions of the Act is required in order to give a true and fair view.
|
|
and 31 March 2018
|
14,272,444
|
|
|
|
At 31 March 2018
|
14,272,444
|
|
|
|
At 31 March 2017
|
14,272,444
|
|
|
|
Fair value at 31 March 2018 is represented by:
|
|
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 |
|
|
|
If the investment properties had not been revalued they would have been included at the
|
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following historical cost:
|
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Investment property they valued on an open market basis on 31 March 2018 by the Directors |
4.
|
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
|
|
5.
|
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
|
|
|
Trade creditors
|
(13,208
|
) |
1,826
|
|
|
|
Amounts owed to group undertakings
|
30,000
|
|
30,000
|
|
|
|
Taxation and social security
|
60,779
|
|
26,969
|
|
|
|
Other creditors
|
3,266,268
|
|
323,524
|
|
|
6.
|
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
|
|
|
Amounts owed to group undertakings
|
1,624,550
|
|
1,774,550
|
|
|
|
Other creditors
|
-
|
|
3,140,048
|
|
|
|
The following secured debts are included within creditors:
|
|
Mortgage Loan
|
3,152,196 |
|
3,140,048 |
|
|
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The mortgage loan is for a fixed term of 15 years and repayable by 1 April 2019. The
|
|
loan is secured on the company's investment properties.
|
8.
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CALLED UP SHARE CAPITAL
|
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Allotted, issued and fully paid:
|
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Number:
|
Class:
|
Nominal
|
2018
|
2017
|
|
|
1,000
|
Ordinary
|
1
|
1,000 |
|
1,000 |
|
|
9.
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DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006
|
|
The Report of the Auditors was unqualified.
|
|
Ellen O'Donnell FCA (Senior Statutory Auditor)
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for and on behalf of
Camerons Accountancy Consultants Limited |
10.
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APB 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
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prepare and submit returns to the tax authorities and assist with the preparation of the
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