Company registration number:
03566214
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UNAUDITED
FINANCIAL STATEMENTS
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FOR THE YEAR ENDED
31 OCTOBER 2019
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BOOCHFU DEVELOPMENTS LIMITED
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BOOCHFU DEVELOPMENTS LIMITED
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COMPANY INFORMATION
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BOOCHFU DEVELOPMENTS LIMITED
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CONTENTS
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Statement of Financial Position
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Notes to the Financial Statements
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BOOCHFU DEVELOPMENTS LIMITED
REGISTERED NUMBER:
03566214
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STATEMENT OF FINANCIAL POSITION
AS AT
31 OCTOBER 2019
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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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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BOOCHFU DEVELOPMENTS LIMITED
REGISTERED NUMBER:
03566214
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STATEMENT OF FINANCIAL POSITION
(CONTINUED)
AS AT
31 OCTOBER 2019
The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The Company's
financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
27 March 2020
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The notes on pages 3 to 6 form part of these financial statements.
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BOOCHFU DEVELOPMENTS LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2019
Boochfu Developments Limited is a private company limited by shares incorporated in England and Wales. The registered office is Ashcombe House, 5 The Crescent, Leatherhead, Surrey, KT22 8DY.
2.
Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in
the UK and the Republic of Ireland and the Companies Act 2006
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The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.
The following principal accounting policies have been applied:
Turnover represents rents and service charges receivable in the year.
Investment property is carried at fair value determined annually by an internal valuation and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of Income and Retained Earnings.
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Current and deferred taxation
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The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Statement of Financial Position date, except that:
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The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
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Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
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BOOCHFU DEVELOPMENTS LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2019
2.
Accounting policies (continued)
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
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the average monthly number of employees, including the directors, during the year was 2 (2018: 2).
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Freehold investment property
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The 2019 valuations were made by the Directors, on an open market value for existing use basis.
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Debtors: Amounts falling due within one year
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Prepayments and accrued income
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BOOCHFU DEVELOPMENTS LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2019
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Creditors: Amounts falling due within one year
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Accruals and deferred income
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Creditors: Amounts falling due after more than one year
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The bank loan of £141,910 (2018: £153,003) is secured by a first legal charge over the freehold property held by the company's bankers.
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BOOCHFU DEVELOPMENTS LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2019
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Analysis of the maturity of loans is given below:
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Amounts falling due within one year
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Amounts falling due 1-2 years
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Amounts falling due after more than 5 years
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The provision for deferred taxation is made up as follows:
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Accelerated capital allowances
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included within retained earnings are undisributable reserves of £628,073 (2018: £628,073).
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