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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2017 |
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BMW HOMES LIMITED |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2017 |
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FOR |
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BMW HOMES LIMITED |
BMW HOMES LIMITED (REGISTERED NUMBER: 03164025) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2017 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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BMW HOMES LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2017 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
207 Knutsford Road |
Grappenhall |
Warrington |
Cheshire |
WA4 2QL |
BMW HOMES LIMITED (REGISTERED NUMBER: 03164025) |
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BALANCE SHEET |
31 MARCH 2017 |
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31/3/17 | 31/3/16 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 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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CREDITORS |
Amounts falling due after more than one
year |
7 |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Other Reserve | 9 |
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Retained earnings | 9 |
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SHAREHOLDERS' FUNDS |
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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. |
BMW HOMES LIMITED (REGISTERED NUMBER: 03164025) |
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BALANCE SHEET - continued |
31 MARCH 2017 |
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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 on
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BMW HOMES LIMITED (REGISTERED NUMBER: 03164025) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2017 |
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1. | STATUTORY INFORMATION |
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BMW Homes 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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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Tangible fixed assets |
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Freehold property | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Computer equipment | - |
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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. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
scheme are charged to profit or loss in the period to which they relate. |
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Investment property |
The land and buildings are considered to be investment property as defined by Financial Reporting Standard |
102.. In accordance with the standard they have not been revalued due to the undue cost and work involved. |
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No depreciation is provided on the buildings in accordance with Financial Reporting Standard 102. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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BMW HOMES LIMITED (REGISTERED NUMBER: 03164025) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2017 |
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | and | Motor | Computer |
property | fittings | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST OR VALUATION |
At 1 April 2016 |
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Disposals |
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At 31 March 2017 |
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DEPRECIATION |
At 1 April 2016 |
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Charge for year |
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Eliminated on disposal |
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At 31 March 2017 |
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NET BOOK VALUE |
At 31 March 2017 |
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At 31 March 2016 |
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Land and buildings are considered to be investment property as defined by Financial Reporting Standard 102. |
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The land and buildings, on which no depreciation has been provided, are included at a historic valuation of |
£1,002,703 as at the year end. This is the directors' valuation. |
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The amount of £1,002,703 as at the year end for land and buildings includes a revaluation amount of £43,842. |
The Directors estimate the current valuation of the investment properties to be £1,335,000. |
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Cost or valuation at 31 March 2017 is represented by: |
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Fixtures |
Freehold | and | Computer |
property | fittings | equipment | Totals |
£ | £ | £ | £ |
Valuation in 2001 | 43,842 | - | - | 43,842 |
Cost | 958,861 | 16,707 | 833 | 976,401 |
1,002,703 | 16,707 | 833 | 1,020,243 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/3/17 | 31/3/16 |
£ | £ |
Prepayments and accrued income |
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BMW HOMES LIMITED (REGISTERED NUMBER: 03164025) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2017 |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/3/17 | 31/3/16 |
£ | £ |
Bank loans and overdrafts |
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Other loans |
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Tax |
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Other creditors |
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Directors' current accounts | 4,079 | 1,845 |
Accrued expenses |
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7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
31/3/17 | 31/3/16 |
£ | £ |
Bank loans - 1-2 years |
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Bank loans - 2-5 years |
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Bank loan >5 years |
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Other loans - 1-2 years | 10,000 |
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Other loans - 2-5 years |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loan >5 years | 269,538 | 337,781 |
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8. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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31/3/17 | 31/3/16 |
£ | £ |
Bank loans |
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9. | RESERVES |
Retained | Other |
earnings | Reserve | Totals |
£ | £ | £ |
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At 1 April 2016 |
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372,010 |
Profit for the year |
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At 31 March 2017 |
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390,861 |
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10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The directors have made an unsecured interest free loan to the company. The loan has no fixed repayment terms. |
The balance at the year ended 31 March 2017 was £4,079 (2016 - £1,845 ). |
BMW HOMES LIMITED (REGISTERED NUMBER: 03164025) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2017 |
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11. | RELATED PARTY DISCLOSURES |
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During the year the company received a loan of £50,000 from Columbus Twenty Two a company owned and |
controlled by Mr P Marland who is also Directors of BMW Homes Limited. The loan was made on normal |
commercial terms. |
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12. | ULTIMATE CONTROLLING PARTY |
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The directors, Mr K W Workman, Mrs J Workman, Mr P Marland and Mrs D K Marland, control the company |
by virtue of their 100% joint shareholding in the company. |