Company Registration No. 04233950 (England and Wales)
GEOFFREY BLUMENTHAL LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
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
Notes to the financial statements
3 - 6
GEOFFREY BLUMENTHAL LIMITED
BALANCE SHEET
AS AT
31 MARCH 2021
31 March 2021
- 1 -
2021
2020
Notes
£
£
£
£
Fixed assets
Tangible assets
4
115
Investment properties
5
258,870
250,000
258,870
250,115
Current assets
Debtors
6
533,999
540,326
Cash at bank and in hand
48
1,812
534,047
542,138
Creditors: amounts falling due within one year
7
(98,966)
(87,605)
Net current assets
435,081
454,533
Total assets less current liabilities
693,951
704,648
Provisions for liabilities
8
(38,487)
Net assets
693,951
666,161
Capital and reserves
Called up share capital
100
100
Other reserves
53,530
44,660
Profit and loss reserves
640,321
621,401
Total equity
693,951
666,161
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 2021 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 members have 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 2021
31 March 2021
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 17 December 2021 and are signed on its behalf by:
Ms. H. Blumenthal
Director
Company Registration No. 04233950
GEOFFREY BLUMENTHAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
- 3 -
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. The accounts are therefore prepared on the going concern basis as the directors believe 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 at 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
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
GEOFFREY BLUMENTHAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
1
Accounting policies
(Continued)
- 4 -
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.
1.6
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
.
1.7
Leases
Rental income from operating leases is recognised
as each instalment of the lease payment falls due.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2021
2020
Number
Number
Total
2
2
GEOFFREY BLUMENTHAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
- 5 -
3
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2020 and 31 March 2021
44,820
Amortisation and impairment
At 1 April 2020 and 31 March 2021
44,820
Carrying amount
At 31 March 2021
At 31 March 2020
4
Tangible fixed assets
Fixtures and fittings
Computers
Total
£
£
£
Cost
At 1 April 2020
7,904
13,427
21,331
Disposals
(13,427)
(13,427)
At 31 March 2021
7,904
7,904
Depreciation and impairment
At 1 April 2020
7,789
13,427
21,216
Depreciation charged in the year
115
115
Eliminated in respect of disposals
(13,427)
(13,427)
At 31 March 2021
7,904
7,904
Carrying amount
At 31 March 2021
At 31 March 2020
115
115
5
Investment property
2021
£
Fair value
At 1 April 2020
250,000
Revaluations
8,870
At 31 March 2021
258,870
Investment property comprises a residential property. The fair value of the investment property
included in the accounts represents the selling price achieved after-date, less costs of the sale.
GEOFFREY BLUMENTHAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
- 6 -
6
Debtors
2021
2020
Amounts falling due within one year:
£
£
Trade debtors
5,686
Other debtors
533,999
530,943
Prepayments and accrued income
3,697
533,999
540,326
7
Creditors: amounts falling due within one year
2021
2020
£
£
Trade creditors
288
Corporation tax
4,487
960
Other taxation and social security
106
Other creditors
83,779
83,879
Accruals and deferred income
10,412
2,660
98,966
87,605
8
Provisions for liabilities
2021
2020
£
£
Provision for Insurance Costs
-
38,487
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.
A provision was made
in 2011
for these future insurance premiums
totalling
£
7
5,
000.
The directors have ascertained that the insurance cover needs to run until June 2023 and have acquired details of the premium to be paid for cover to this date. This amount has been reserved in the accounts and the remainder of the provision brought forward has been written back.