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REGISTERED NUMBER:
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BRETTFIELD DEVELOPMENTS LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED |
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31 MARCH 2017 |
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REGISTERED NUMBER:
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BRETTFIELD DEVELOPMENTS LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED |
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31 MARCH 2017 |
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BRETTFIELD DEVELOPMENTS LIMITED (REGISTERED NUMBER: 03999821) |
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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 | 3 | to | 5 |
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BRETTFIELD DEVELOPMENTS LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2017 |
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DIRECTOR: |
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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 |
Town Wall House |
Balkerne Hill |
Colchester |
Essex |
CO3 3AD |
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BANKERS: |
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High Street |
Colchester |
Essex |
CO1 1DQ |
BRETTFIELD DEVELOPMENTS LIMITED (REGISTERED NUMBER: 03999821) |
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BALANCE SHEET |
31 MARCH 2017 |
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2017 | 2016 |
Notes | £ | £ |
FIXED ASSETS |
Property, plant and equipment | 4 |
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CURRENT ASSETS |
Stocks and work in progress |
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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 ASSETS |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 7 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The director acknowledges his 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. |
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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 director on
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BRETTFIELD DEVELOPMENTS LIMITED (REGISTERED NUMBER: 03999821) |
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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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Brettfield Developments Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial |
Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements |
have been prepared under the historical cost convention. |
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Tangible fixed assets |
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Storage Building | - |
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Equipment | - |
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Motor vehicles | - |
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Stocks |
Work in progress is valued at the lower of cost and net realisable value. |
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Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing |
stocks and work in progress to their present location and condition. |
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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 material timing differences that have originated but not reversed at the |
balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay |
more, or a right to pay less or to receive more tax. |
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Work in progress |
Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. |
Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of |
work in progress. |
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Revenue recognition |
The revenue shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value |
Added Tax, and is only realised once the work is completed. |
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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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BRETTFIELD DEVELOPMENTS LIMITED (REGISTERED NUMBER: 03999821) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2017 |
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4. | PROPERTY, PLANT AND EQUIPMENT |
Storage | Motor |
Building | Equipment | vehicles | Totals |
£ | £ | £ | £ |
COST |
At 1 April 2016 |
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Additions |
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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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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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5. | DEBTORS |
2017 | 2016 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
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Other debtors |
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Deferred tax asset | 281 | 6,918 |
Prepayments and accrued income |
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Amounts falling due after more than one year: |
Deferred tax asset | 51,051 | 50,943 |
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Aggregate amounts |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade creditors |
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Corporation tax |
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Other tax and social security |
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Directors' current accounts | 430,650 | 421,441 |
Accruals and deferred income |
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BRETTFIELD DEVELOPMENTS LIMITED (REGISTERED NUMBER: 03999821) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2017 |
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7. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2017 | 2016 |
value: | £ | £ |
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Ordinary | £1 | 50,000 | 50,000 |
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8. | TRANSACTIONS WITH THE DIRECTOR |
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During the year the director and his family paid expenses on behalf of the company of £2,914 (2016: £15,026) and |
introduced funds of £8,860 (2016: £182,000). Drawings and private expenditure incurred by the company amounted to |
£2,565 (2016: £10,078). The balance owed from the company to the director and his family at the year end was |
£430,650 (2016: £421,441). |
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The loan accrued interest at 3% above base rate amounting to £14,930 (2016: £12,194) during the year. At the year |
end there was £272,155 of unpaid interest due on the loan (2016: £257,221). |
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9. | RELATED PARTY DISCLOSURES |
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The company was under the control of Mr J I MacGregor throughout the current and previous year. Mr J I MacGregor |
is the managing director and 50% shareholder.The remaining 50% is controlled by Mrs C L MacGregor. |