BAYNTON ESTATES LIMITED
|
Registered number: |
03534469 |
Balance Sheet |
as at 31 March 2018
|
|
Notes |
|
|
2018 |
|
|
2016 |
|
|
|
|
£ |
|
|
£ |
FIXED ASSETS |
Tangible assets |
3 |
|
|
4,821,587 |
|
|
4,794,726 |
Investments |
4 |
|
|
4,026,955 |
|
|
3,874,508 |
|
|
|
|
8,848,542 |
|
|
8,669,234 |
CURRENT ASSETS |
Debtors |
5 |
|
2,573,254 |
|
|
2,369,251 |
Cash deposits |
|
|
59,455 |
|
|
81,168 |
Cash at bank and in hand |
|
|
111,699 |
|
|
36,579 |
|
|
|
2,744,408 |
|
|
2,486,998 |
CREDITORS: amounts falling due within one year |
6 |
|
(126,378) |
|
|
(102,408) |
|
NET CURRENT ASSETS |
|
|
|
2,618,030 |
|
|
2,384,590 |
|
TOTAL ASSETS LESS CURRENT LIABILITIES |
|
|
|
11,466,572 |
|
|
11,053,824 |
|
Provisions for liabilities |
|
|
|
(285,532) |
|
|
(366,052) |
|
NET ASSETS |
|
|
|
£11,181,040 |
|
|
£10,687,772 |
|
|
|
|
|
|
|
|
CAPITAL AND RESERVES |
Called up share capital |
|
|
|
581,000 |
|
|
599,000 |
Share premium |
|
|
|
5,088,281 |
|
|
5,088,281 |
Fair value reserve |
7 |
|
|
2,718,456 |
|
|
2,787,839 |
Profit and loss account |
|
|
|
2,793,303 |
|
|
2,212,652 |
|
SHAREHOLDERS' FUNDS |
|
|
|
£11,181,040 |
|
|
£10,687,772 |
|
|
|
|
|
|
|
|
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
|
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
|
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
|
The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account is not delivered to Companies House.
|
|
|
Dr E A Fischl |
Director |
Approved by the board on 25 March 2019
|
|
BAYNTON ESTATES LIMITED
|
Notes to the Accounts |
for the period from 1 October 2016 to 31 March 2018
|
|
1 |
ACCOUNTING POLICIES |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
|
|
|
Turnover |
|
Income is recognised within turnover from rent receivable arising from rental agreements for the letting of investment property.
|
|
|
Tangible fixed assets |
|
Investment property is valued by the director on an open market basis and the fair value is arrived at with reference to a house price index relating to the appropriate region. Changes in valuation are included in the profit and loss account and deferred tax is provided in accordance with the Financial Reporting Standard. Non distributable reserves that arise from changes in valuation after related tax provisions are transferred to a fair value reserve. Tangible assets other than investment property are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
|
|
|
Fixtures, fittings and equipment |
20% on a reducing balance basis |
|
Antique furniture |
2% on a reducing balance basis |
|
|
Investments |
|
Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account. Non distributable reserves that arise from changes in valuation after related tax provisions are transferred to the fair value reserve.
|
|
|
Deferred Taxation |
|
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on a non-discounted basis at the tax rates which are expected to apply in the periods when the timing difference are expected to reverse.
|
|
|
Foreign currencies |
|
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction or by using averaged rates in approximation. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are taken into account in arriving at the operating profit.
|
|
BAYNTON ESTATES LIMITED
|
Notes to the Accounts |
for the period from 1 October 2016 to 31 March 2018
|
|
|
Leased rentals |
|
Rentals applicable to operating leases where substantially all the benefits and risks of ownership remain with the lessor are charged against profits as incurred. Rentals receivable under operating leases are credited to profits as they arise.
|
|
|
Pensions |
|
Contributions to defined contribution plans are charged to the profit and loss account in the period in which they are paid.
|
|
|
2 |
EMPLOYEES |
2018 |
|
2016 |
|
|
|
|
|
|
Number |
|
Number |
|
Average number of persons employed by the company |
|
(excluding directors with no specific service contract) |
1 |
|
1 |
|
|
|
|
|
|
|
|
|
|
3 |
TANGIBLE FIXED ASSETS |
|
|
Freehold Investment Property |
|
Fixtures, Fittings & Equipment |
|
Antique Furniture |
|
Total |
|
|
£ |
|
£ |
|
£ |
|
£ |
|
Cost/Valuation |
|
At 1 October 2016 |
4,599,000 |
|
28,212 |
|
263,816 |
|
4,891,028 |
|
Additions |
- |
|
6,262 |
|
- |
|
6,262 |
|
Surplus on revaluation |
30,000 |
|
- |
|
- |
|
30,000 |
|
At 31 March 2018 |
4,629,000 |
|
34,474 |
|
263,816 |
|
4,927,290 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 October 2016 |
- |
|
22,099 |
|
74,203 |
|
96,302 |
|
Charge for the period |
- |
|
3,713 |
|
5,688 |
|
9,401 |
|
At 31 March 2018 |
- |
|
25,812 |
|
79,891 |
|
105,703 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2018 |
£4,629,000 |
|
£ 8,662 |
|
£ 183,925 |
|
£4,821,587 |
|
At 30 September 2016 |
£4,599,000 |
|
£ 6,113 |
|
£ 189,613 |
|
£4,794,726 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2018 |
|
2016 |
|
Freehold land and buildings: |
£ |
|
£ |
|
|
Historical cost |
2,038,914 |
|
2,038,914 |
|
|
|
|
|
|
£2,038,914 |
|
£2,038,914 |
|
BAYNTON ESTATES LIMITED
|
Notes to the Accounts |
for the period from 1 October 2016 to 31 March 2018
|
|
10 |
OTHER INFORMATION |
|
|
Baynton Estates Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
Titsey Estate Office |
|
Pilgrims Lane |
|
Oxted |
|
Surrey |
|
RH8 0SE |
|
|
The accounts are for the individual company and are presented in Sterling which is the functional currency of the company. |
|
|
The accounts are presented for a period of eighteen months to a new reporting date of 31 March 2018. The new year end date has been selected to coincide with the end of the financial year. The comparative amounts are presented for a period of one year and so they are not entirely comparable. |
|
|
Comparative amounts have been re-stated where appropriate to reflect the changes in |
|
accounting policy required to comply with FRS 102. Amounts are restated as follows: |
|
|
|
|
|
As orginally |
|
Adjustment |
|
As presented |
|
|
|
|
stated |
|
|
|
|
£ |
|
£ |
|
£ |
|
Balance sheet items: |
|
Investments |
3,281,755 |
|
592,753 |
|
3,874,508 |
|
Provisions for liabilities |
1,052 |
|
365,000 |
|
366,052 |
|
Fair value reserve |
2,560,086 |
|
227,753 |
|
2,787,839 |
|
|
|
|
|
|
|
|
|
|
Profit and loss items: |
|
Fair value adjustments to investments |
- |
|
218,208 |
|
218,208 |
|
Unrealised surplus on revaluation of |
|
investment property |
- |
|
402,000 |
|
402,000 |
|
Taxation |
76,620 |
|
111,000 |
|
187,620 |
|
|
|
|
|
|
|
|
|