Company Registration No. 04233950 (England and Wales)
GEOFFREY BLUMENTHAL LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2019
PAGES FOR FILING WITH REGISTRAR
Weavers
22 Ensign Business Centre
Westwood Way
Westwood Business Park
Coventry
CV4 8JA
GEOFFREY BLUMENTHAL LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 7
GEOFFREY BLUMENTHAL LIMITED
BALANCE SHEET
AS AT
31 MARCH 2019
31 March 2019
- 1 -
2019
2018
Notes
£
£
£
£
Fixed assets
Tangible assets
3
155
208
Investment properties
4
250,000
275,000
250,155
275,208
Current assets
Debtors
5
544,654
551,384
Cash at bank and in hand
1,207
2,544
545,861
553,928
Creditors: amounts falling due within one year
6
(90,356)
(97,412)
Net current assets
455,505
456,516
Total assets less current liabilities
705,660
731,724
Provisions for liabilities
7
(42,054)
(46,078)
Net assets
663,606
685,646
Capital and reserves
Called up share capital
8
100
100
Other reserves
44,660
69,660
Profit and loss reserves
618,846
615,886
Total equity
663,606
685,646
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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.
T
he member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
GEOFFREY BLUMENTHAL LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2019
31 March 2019
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 29 October 2019 and are signed on its behalf by:
Ms. H. Blumenthal
Director
Company Registration No. 04233950
GEOFFREY BLUMENTHAL LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2019
- 3 -
Share capital
Other reserves
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 April 2017
100
69,660
615,153
684,913
Period ended 31 March 2018:
Profit and total comprehensive income for the period
-
-
5,733
5,733
Dividends
-
-
(5,000)
(5,000)
Balance at 31 March 2018
100
69,660
615,886
685,646
Period ended 31 March 2019:
Loss and total comprehensive income for the period
-
-
(22,040)
(22,040)
Transfers
-
(25,000)
25,000
-
Balance at 31 March 2019
100
44,660
618,846
663,606
GEOFFREY BLUMENTHAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2019
- 4 -
1
Accounting policies
Company information
Geoffrey Blumenthal Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
22 Ensign Business Centre, Westwood Way, Westwood Business Park, Coventry, United Kingdom, CV4 8JA.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The company's business as an architectural practice ceased in 2011. The company has income from an investment property and is looking to diversify into other areas to generate additional income. The accounts are therefore prepared on the going concern basis as the director believes that it is still viable.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include investment properties fair value. The principal accounting policies adopted are set out below.
1.2
Intangible fixed assets - goodwill
The architectural practice ceased to trade on 31st March 2011 and the remainder of the goodwill that was acquired in 2001 was written off.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
25% on reducing balance
Computers
33% on cost
1.4
Investment properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure
. Subsequently it is measured
at fair value a
t
the reporting end date.
The surplus or deficit on revaluation is recognised in profit or loss.
1.5
Impairment of fixed assets
At each reporting
period
end date, the
company
reviews the carrying amounts of its tangible
and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
GEOFFREY BLUMENTHAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2019
1
Accounting policies
(Continued)
- 5 -
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current or deferred tax assets and liabilities are not discounted.
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.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
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 balance sheet date and that are expected to apply to the reversal of the timing difference.
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.
1.7
Provisions
Provisions are recognised when the
company
has a legal or constructive present obligation as a result of a past event, it is probable that the
company
will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date
.
1.8
Leases
Rental income from operating leases is recognised
as each instalment of the lease payment falls due.
2
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2018 and 31 March 2019
44,820
Amortisation and impairment
At 1 April 2018 and 31 March 2019
44,820
Carrying amount
At 31 March 2019
-
At 31 March 2018
-
GEOFFREY BLUMENTHAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2019
- 6 -
3
Tangible fixed assets
Fixtures and fittings
Computers
Total
£
£
£
Cost
At 1 April 2018 and 31 March 2019
7,904
13,427
21,331
Depreciation and impairment
At 1 April 2018
7,696
13,427
21,123
Depreciation charged in the year
53
-
53
At 31 March 2019
7,749
13,427
21,176
Carrying amount
At 31 March 2019
155
-
155
At 31 March 2018
208
-
208
4
Investment property
2019
£
Fair value
At 1 April 2018
275,000
Revaluations
(25,000)
At 31 March 2019
250,000
Investment property comprises a residential property. The fair value of the investment property has been arrived at on the basis of a valuation carried out at 4th July 2019 by a professional valuer. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.
5
Debtors
2019
2018
Amounts falling due within one year:
£
£
Trade debtors
5,000
5,000
Other debtors
539,535
545,876
Prepayments and accrued income
119
508
544,654
551,384
GEOFFREY BLUMENTHAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2019
- 7 -
6
Creditors: amounts falling due within one year
2019
2018
£
£
Corporation tax
707
1,165
Other taxation and social security
106
106
Other creditors
85,083
93,781
Accruals and deferred income
4,460
2,360
90,356
97,412
7
Provisions for liabilities
2019
2018
£
£
Provision for Insurance Costs
42,054
46,078
The company made a provision for the cost of professional indemnity insurance to be incurred. The terms of the contracts under which the company operated required it to carry insurance against flaws in its architectural designs for a period of 15 years following completion of the contracts.
The director obtained quotes for insurance cover and the company is expected to have to pay approximately £5,000 per annum. A provision was made for these future insurance premiums at £5,000 per annum for a period of 15 years. The provision will be gradually unwound through payment of the annual premiums.
8
Called up share capital
2019
2018
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary shares of £1 each
100
100