Registration number:
Beckermet Estates Limited
for the Year Ended 30 April 2018
Chartered Accountants
Carleton House
136 Gray Street
Workington
Cumbria
CA14 2LU
Beckermet Estates Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Beckermet Estates Limited
Company Information
Directors |
Mr D Lawson Mrs A M Lawson Mr A Lawson Mr J L Lawson Mr G Lawson Mrs B Thomson Mr M Thomson |
Company secretary |
Mrs A M Lawson |
Registered office |
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Bankers |
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Accountants |
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Page 1 |
Beckermet Estates Limited
(Registration number: 03153158)
Balance Sheet as at 30 April 2018
Note |
2018 |
2017 |
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Fixed assets |
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Tangible assets |
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Investment property |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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For the financial year ending 30 April 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Page 2 |
Beckermet Estates Limited
(Registration number: 03153158)
Balance Sheet as at 30 April 2018 (continued)
Approved and authorised by the
.........................................
Mr G Lawson
Director
Page 3 |
Beckermet Estates Limited
Notes to the Financial Statements for the Year Ended 30 April 2018
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statements are presented in sterling. The amounts have been rounded to the nearest pound.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Page 4 |
Beckermet Estates Limited
Notes to the Financial Statements for the Year Ended 30 April 2018 (continued)
Asset class |
Depreciation method and rate |
Investment properties |
Included in the balance sheet at revalued amounts |
Other property, plant and equipment |
15% reducing balance |
Investment property
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Page 5 |
Beckermet Estates Limited
Notes to the Financial Statements for the Year Ended 30 April 2018 (continued)
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Tangible assets |
Other property, plant and equipment |
Total |
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Cost or valuation |
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At 1 May 2017 |
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At 30 April 2018 |
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Depreciation |
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At 1 May 2017 |
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Charge for the year |
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At 30 April 2018 |
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Carrying amount |
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At 30 April 2018 |
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At 30 April 2017 |
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Investment properties |
2018 |
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At 1 May 2017 |
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Additions |
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At 30 April 2018 |
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The investment properties class of fixed assets was revalued on 30 April 2018 by the Directors who are internal to the company. Any revaluations have no effect on the tax payable in the year. This class of assets has a current value of £4,270,561 (2017 - £4,250,000) and a carrying amount at the historical cost of £3,211,644 (2017 - £3,191,081). The depreciation on this historical cost is £nil (2017 - £nil)
There has been no valuation of investment property by an independent valuer.
Page 6 |
Beckermet Estates Limited
Notes to the Financial Statements for the Year Ended 30 April 2018 (continued)
Debtors |
2018 |
2017 |
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Trade debtors |
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Other debtors |
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Total current trade and other debtors |
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Creditors |
Creditors: amounts falling due within one year
Note |
2018 |
2017 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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( |
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Taxation and social security |
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Other creditors |
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Corporation tax control |
77,674 |
62,392 |
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Due after one year |
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Loans and borrowings |
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Creditors: amounts falling due after more than one year
Note |
2018 |
2017 |
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Due after one year |
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Loans and borrowings |
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Share capital |
Allotted, called up and fully paid shares
2018 |
2017 |
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No. |
£ |
No. |
£ |
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1,200 |
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1,200 |
Page 7 |
Beckermet Estates Limited
Notes to the Financial Statements for the Year Ended 30 April 2018 (continued)
Loans and borrowings |
2018 |
2017 |
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Non-current loans and borrowings |
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Other borrowings |
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2018 |
2017 |
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Current loans and borrowings |
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Other borrowings |
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Page 8 |