Company No:
Contents
Note | 2022 | 2021 | ||
£ | £ | |||
Fixed assets | ||||
Investment property | 3 |
|
|
|
700,000 | 530,000 | |||
Current assets | ||||
Debtors | 5 |
|
|
|
Cash at bank and in hand |
|
|
||
5,447 | 11,349 | |||
Creditors: amounts falling due within one year | 6 | (
|
(
|
|
Net current liabilities | (9,960) | (2,483) | ||
Total assets less current liabilities | 690,040 | 527,517 | ||
Creditors: amounts falling due after more than one year | 7 | (
|
(
|
|
Net assets |
|
|
||
Capital and reserves | ||||
Called-up share capital | 8 |
|
|
|
Profit and loss account |
|
|
||
Total shareholders' funds |
|
|
Director's responsibilities:
The financial statements of Bristol Oilskin & Overall Property Limited (registered number:
A M Fox
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Bristol Oilskin & Overall Property Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Ground Floor, 90 Victoria Street, Bristol, BS1 6DP, United Kingdom. The address of the Company's principal place of business is Fox House, Winterstoke Commercial Centre, Weston-Super-Mare, BS23 3XP.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.
The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
• the amount of revenue can be measured reliably;
• it is probable that the Company will receive the consideration due under the contract.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Investments held as fixed assets are shown at cost less provision for impairment.
2022 | 2021 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including the director |
|
|
Investment property | |
£ | |
Valuation | |
As at 01 September 2021 |
|
Fair value movement | 170,000 |
As at 31 August 2022 |
|
Historic cost
If the investment properties had been accounted for cost accounting rules, the properties would have been measured as follows:
2022 | 2021 | ||
£ | £ | ||
Historic cost | 196,785 | 196,785 |
Investments in subsidiaries
2022 | |
£ | |
Cost | |
At 01 September 2021 |
|
Disposals | (
|
At 31 August 2022 |
|
Provisions for impairment | |
At 01 September 2021 |
|
Reversal of impairment | (
|
At 31 August 2022 |
|
Carrying value at 31 August 2022 |
|
Carrying value at 31 August 2021 |
|
2022 | 2021 | ||
£ | £ | ||
Amounts owed by director |
|
|
|
Prepayments |
|
|
|
Other debtors |
|
|
|
|
|
2022 | 2021 | ||
£ | £ | ||
Amounts owed to director |
|
|
|
Accruals |
|
|
|
Corporation tax |
|
|
|
Other creditors |
|
|
|
|
|
2022 | 2021 | ||
£ | £ | ||
Bank loans (secured) |
|
|
The loan is also secured on a debenture over all the assets of the Company as well as personal guarantees from past and present directors.
Amounts repayable after more than 5 years are included in creditors falling due over one year:
2022 | 2021 | ||
£ | £ | ||
Bank loans |
|
|
2022 | 2021 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
|
|
|
|
|
|
|
|
7,250 | 7,250 |
Transactions with the entity's director
At the year end the director owed the Company £2,094 (2021 - the Company owed directors £344). Interest is charged on the loan at 2% and it is repayable on demand.