REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
ABRIDGED UNAUDITED FINANCIAL STATEMENTS |
|
FOR THE YEAR ENDED 31 MARCH 2021 |
|
FOR |
|
BUILDINVEST LIMITED |
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
ABRIDGED UNAUDITED FINANCIAL STATEMENTS |
|
FOR THE YEAR ENDED 31 MARCH 2021 |
|
FOR |
|
BUILDINVEST LIMITED |
BUILDINVEST LIMITED (REGISTERED NUMBER: 02982859) |
|
|
|
|
|
|
CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 31 March 2021 |
|
|
|
|
Page |
|
Company Information | 1 |
|
Abridged Balance Sheet | 2 |
|
Notes to the Financial Statements | 4 |
|
BUILDINVEST LIMITED |
|
COMPANY INFORMATION |
for the year ended 31 March 2021 |
|
|
|
|
|
|
|
DIRECTORS: |
|
|
|
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
BUILDINVEST LIMITED (REGISTERED NUMBER: 02982859) |
|
ABRIDGED BALANCE SHEET |
31 March 2021 |
|
2021 | 2020 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
|
|
Investment property | 5 |
|
|
|
|
|
CURRENT ASSETS |
Debtors | 6 |
|
|
Cash at bank |
|
|
|
|
CREDITORS |
Amounts falling due within one year |
|
|
NET CURRENT ASSETS |
|
|
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
PROVISIONS FOR LIABILITIES |
|
|
NET ASSETS |
|
|
|
CAPITAL AND RESERVES |
Called up share capital |
|
|
Fair value reserve | 8 |
|
|
Retained earnings |
|
|
|
|
|
|
|
|
|
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
BUILDINVEST LIMITED (REGISTERED NUMBER: 02982859) |
|
ABRIDGED BALANCE SHEET - continued |
31 March 2021 |
|
|
|
|
|
|
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 and authorised for issue on
|
|
|
|
|
|
|
|
BUILDINVEST LIMITED (REGISTERED NUMBER: 02982859) |
|
NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 31 March 2021 |
|
1. | STATUTORY INFORMATION |
|
Buildinvest Limited is a
|
|
2. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
The principal accounting policies adopted in the preparation of the financial statements are set out below and remain unchanged from the previous year. |
|
Related party exemption |
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. |
|
Turnover |
Turnover comprises rents receivable net of value added tax. |
|
Tangible fixed assets |
|
Fixtures & fittings | - |
|
Computer equipment | - |
|
|
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. |
|
Financial instruments |
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, financial instruments are measured at amortised cost using the effective interest rate method, less impairment. |
|
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at |
transaction price. Any losses arising from impairment are recognised in the income statement. |
|
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. |
|
BUILDINVEST LIMITED (REGISTERED NUMBER: 02982859) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 March 2021 |
|
2. | ACCOUNTING POLICIES - continued |
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. |
|
3. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was
|
|
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 April 2020 |
and 31 March 2021 |
|
DEPRECIATION |
At 1 April 2020 |
|
Charge for year |
|
At 31 March 2021 |
|
NET BOOK VALUE |
At 31 March 2021 |
|
At 31 March 2020 |
|
|
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2020 |
|
Additions |
|
Revaluations | (488,333 | ) |
At 31 March 2021 |
|
NET BOOK VALUE |
At 31 March 2021 |
|
At 31 March 2020 |
|
BUILDINVEST LIMITED (REGISTERED NUMBER: 02982859) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 March 2021 |
|
5. | INVESTMENT PROPERTY - continued |
|
Fair value at 31 March 2021 is represented by: |
£ |
Valuation in 2021 | 3,589,027 |
Cost | 975,098 |
4,564,125 |
|
The valuations have been provided by the company's management and are based on their knowledge of the local market. |
|
6. |
DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2021 | 2020 |
£ | £ |
Amounts owed by participating interests | 508,042 | 508,416 |
|
7. | SECURED DEBTS |
|
Barclays bank holds amongst others, a floating charge over all property or undertaking of the company. |
|
8. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 April 2020 |
|
Reserve transfers | (423,833 | ) |
|
At 31 March 2021 |
|
|
Deferred tax recognised on movements in fair value is allocated to the fair value reserve. |
|
9. | ULTIMATE CONTROLLING PARTY |
|
The directors regard the ultimate controlling party as Link Administration Holdings Limited, a company incorporated in Australia, and acting as trustees of the Brian Vessa 'K' Settlement. |