Company Registration No. 02882774 (England and Wales)
BCP PROPERTIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2018
PAGES FOR FILING WITH REGISTRAR
BCP PROPERTIES LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
BCP PROPERTIES LIMITED
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF BCP PROPERTIES LIMITED FOR THE YEAR ENDED 30 NOVEMBER 2018
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of BCP Properties Limited for the year ended 30 November 2018 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance
.
This report is made solely to the Board of Directors of BCP Properties Limited, as a body, in accordance with
our
terms
of
engagement. Our work has been undertaken solely to prepare for your approval the financial statements of BCP Properties Limited
and state those matters that we have agreed to state to the Board of Directors of BCP Properties Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than BCP Properties Limited and its Board of Directors as a body, for
our work or for this report.
It is your duty to ensure that BCP Properties Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets,
liabilities, financial position and profit of BCP Properties Limited. You consider that BCP Properties Limited is exempt from the statutory audit
requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of BCP Properties Limited. For this reason, we have not verified the accuracy or completeness of the
accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Ormerod Rutter Limited
27 August 2019
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
BCP PROPERTIES LIMITED
BALANCE SHEET
AS AT 30 NOVEMBER 2018
30 November 2018
- 2 -
2018
2017
Notes
£
£
£
£
Fixed assets
Tangible assets
3
-
28,110
Investments
4
190,002
190,002
190,002
218,112
Current assets
Debtors
5
28,468
28,239
Cash at bank and in hand
75,358
76,125
103,826
104,364
Creditors: amounts falling due within one year
6
(229,276)
(231,384)
Net current liabilities
(125,450)
(127,020)
Total assets less current liabilities
64,552
91,092
Provisions for liabilities
7
-
(5,341)
Net assets
64,552
85,751
Capital and reserves
Called up share capital
8
100
100
Profit and loss reserves
64,452
85,651
Total equity
64,552
85,751
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 30 November 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
BCP PROPERTIES LIMITED
BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2018
30 November 2018
- 3 -
The financial statements were approved and signed by the director and authorised for issue on 27 August 2019.
Mr P C Hill
Director
Company Registration No. 02882774
BCP PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2018
- 4 -
1
Accounting policies
Company information
BCP Properties Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
European House, Salisbury Street, Wolverhampton, West Midlands, WV3 0BG.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
The company has taken advantage of the exemption under section
399
of the
Companies Act 2006 not to prepare consolidated accounts
, on the basis that the group of which this is the parent qualifies as a small group
. The financial statements present information about the company as an individual entity and not about its group
.
1.2
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery
20% on cost
Motor vehicles
25% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.3
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.
The investments are assessed for impairment at each reporting date
and
any
impairment
losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company
. Control is
the power to govern the financial and operating policies of
the
entity so as to obtain benefits from its activities.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 1 (2017 - 1).
BCP PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2018
- 5 -
3
Tangible fixed assets
Plant and machinery
Motor vehicles
Total
£
£
£
Cost
At 1 December 2017
29,000
16,584
45,584
Disposals
(29,000)
(16,584)
(45,584)
At 30 November 2018
-
-
-
Depreciation and impairment
At 1 December 2017
11,600
5,874
17,474
Depreciation charged in the year
5,800
4,146
9,946
Eliminated in respect of disposals
-
(10,020)
(10,020)
Transfers
(17,400)
-
(17,400)
At 30 November 2018
-
-
-
Carrying amount
At 30 November 2018
-
-
-
At 30 November 2017
17,400
10,710
28,110
4
Fixed asset investments
2018
2017
£
£
Investments
190,002
190,002
Movements in fixed asset investments
Shares in group undertakings
£
Cost or valuation
At 1 December 2017 & 30 November 2018
190,002
Carrying amount
At 30 November 2018
190,002
At 30 November 2017
190,002
BCP PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2018
- 6 -
5
Debtors
2018
2017
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
28,466
28,146
Other debtors
2
93
28,468
28,239
6
Creditors: amounts falling due within one year
2018
2017
£
£
Trade creditors
90
-
Amounts due to group undertakings
228,796
231,004
Other creditors
390
380
229,276
231,384
7
Provisions for liabilities
2018
2017
£
£
Deferred tax liabilities
-
5,341
8
Called up share capital
2018
2017
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary of £1 each
100
100
100
100
9
Related party transactions
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group
BCP PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2018
- 7 -
10
Control
Ultimate parent company
The ultimate parent company is Hills Paints Holdings Limited, a company registered in England and Wales.
Ultimate controlling party
The ultimate controlling party is Mr P C Hill by virtue of his controlling interest in the ultimate parent company.