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Financial Statements |
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for the Year Ended 31 March 2018 |
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for |
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Butterfly World Project Limited |
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REGISTERED NUMBER:
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Financial Statements |
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for the Year Ended 31 March 2018 |
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for |
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Butterfly World Project Limited |
Butterfly World Project Limited (Registered number: 06498008) |
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Contents of the Financial Statements |
for the Year Ended 31 March 2018 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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Butterfly World Project Limited |
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Company Information |
for the Year Ended 31 March 2018 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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BUSINESS ADDRESS: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Statutory Auditors |
Chartered Accountants & Business Advisers |
15 Newland |
Lincoln |
Lincolnshire |
LN1 1XG |
Butterfly World Project Limited (Registered number: 06498008) |
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Balance Sheet |
31 March 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 3 |
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CURRENT ASSETS |
Cash at bank |
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CREDITORS |
Amounts falling due within one year | 4 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 5 |
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Share premium | 6 |
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Retained earnings | 6 | ( |
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SHAREHOLDERS' FUNDS |
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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 Board of Directors on
by: |
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Butterfly World Project Limited (Registered number: 06498008) |
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Notes to the Financial Statements |
for the Year Ended 31 March 2018 |
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1. | STATUTORY INFORMATION |
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Butterfly World Project 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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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The accounts are prepared on a going concern basis which assumes that the ultimate controlling party, Breheny |
Civil Engineering Limited, will continue to support the company. If support were not to continue then the basis |
may not be appropriate. As at 31 March 2018 the companies net liabilities exceeded its assets by £2,613,680 |
(2017: £2,529,358). |
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Tangible fixed assets |
In accordance with FRS102 section 17, land and development costs have been measured on the revaluation |
model. All other classes of asset have been measured on the cost model. |
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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 is recognised in respect of all timing differences that have originated but not reversed at the |
balance sheet date. |
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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 year end and that are expected to apply to the reversal |
of the timing difference. |
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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. |
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3. | TANGIBLE FIXED ASSETS |
Land and |
development |
costs |
£ |
COST |
At 1 April 2017 |
and 31 March 2018 |
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NET BOOK VALUE |
At 31 March 2018 |
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At 31 March 2017 |
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The land and development costs were valued on 31 March 2016 by Lambert Smith Hampton. |
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The directors have assessed the valuation during the year ended 31 March 2018 and believe it to be accurate. |
Butterfly World Project Limited (Registered number: 06498008) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2018 |
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4. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Amounts owed to group undertakings |
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Other creditors |
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5. | CALLED UP SHARE CAPITAL |
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Allotted and issued: |
Number: | Class: | Nominal | 2018 | 2017 |
value: | £ | £ |
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Ordinary | 50p | 1,500,001 | 1,500,001 |
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6. | RESERVES |
Retained | Share |
earnings | premium | Totals |
£ | £ | £ |
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At 1 April 2017 | ( |
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(394,359 | ) |
Deficit for the year | ( |
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At 31 March 2018 | ( |
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(478,681 | ) |
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7. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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8. | ULTIMATE CONTROLLING PARTY |
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The ultimate controlling party is Breheny Group. The parent company is Butterfly World Project (Holdings) |
Limited. The company's registered office is as follows: |
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15 Newland |
Lincoln |
Lincoln |
LN1 1XG |