REGISTERED NUMBER:
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BUILDING SCHOOLS FOR NOTHING LIMITED |
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Unaudited Financial Statements |
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for the Year Ended 31 December 2021 |
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REGISTERED NUMBER:
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BUILDING SCHOOLS FOR NOTHING LIMITED |
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Unaudited Financial Statements |
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for the Year Ended 31 December 2021 |
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BUILDING SCHOOLS FOR NOTHING LIMITED (REGISTERED NUMBER: 07464971) |
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Contents of the Financial Statements |
for the year ended 31 December 2021 |
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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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BUILDING SCHOOLS FOR NOTHING LIMITED |
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Company Information |
for the year ended 31 December 2021 |
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Directors: |
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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 |
250 Fowler Avenue |
Farnborough |
Hampshire |
GU14 7JP |
BUILDING SCHOOLS FOR NOTHING LIMITED (REGISTERED NUMBER: 07464971) |
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Balance Sheet |
31 December 2021 |
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2021 | 2020 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 4 |
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Investments | 5 |
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Current assets |
Debtors | 6 |
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Cash at bank |
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Creditors |
Amounts falling due within one year | 7 |
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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 |
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Retained earnings |
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The directors acknowledge their 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 Board of Directors and authorised for issue on
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BUILDING SCHOOLS FOR NOTHING LIMITED (REGISTERED NUMBER: 07464971) |
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Notes to the Financial Statements |
for the year ended 31 December 2021 |
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1. | Statutory information |
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Building Schools For Nothing Limited is a
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2. | Accounting policies |
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Basis of preparing the financial statements |
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The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound. |
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The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. |
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The company has taken advantage of the exemption under section 398 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group. Building Schools for Nothing Limited and its subsidiary undertaking comprise a small group. |
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Turnover |
Turnover represents amounts receivable for goods and services net of VAT and trade discounts. Turnover is recognised at the date of invoice. |
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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. |
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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: |
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Fixtures, fittings & equipment | 25% straight line |
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The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss. |
BUILDING SCHOOLS FOR NOTHING LIMITED (REGISTERED NUMBER: 07464971) |
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Notes to the Financial Statements - continued |
for the year ended 31 December 2021 |
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2. | Accounting policies - continued |
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Investments in subsidiaries |
Interests in subsidiaries are measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss. |
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Impairment of fixed assets |
At each reporting period end date, the company reviews the carrying amounts of its tangible 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). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. |
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Cash at bank and in hand |
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks. |
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Financial instruments |
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. |
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Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. |
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Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised. |
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Basic financial assets |
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised. |
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Basic financial liabilities |
Basic financial liabilities, including creditors, are recognised at transaction price. Financial liabilities classified as payable within one year are not amortised. |
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Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. |
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Equity instruments |
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. |
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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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BUILDING SCHOOLS FOR NOTHING LIMITED (REGISTERED NUMBER: 07464971) |
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Notes to the Financial Statements - continued |
for the year ended 31 December 2021 |
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4. | Tangible fixed assets |
Fixtures |
and |
fittings |
£ |
Cost |
At 1 January 2021 |
and 31 December 2021 |
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Depreciation |
At 1 January 2021 |
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Charge for year |
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At 31 December 2021 |
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Net book value |
At 31 December 2021 |
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At 31 December 2020 |
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5. | Fixed asset investments |
Shares in |
group |
undertakings |
£ |
Cost |
At 1 January 2021 |
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Disposals | ( |
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At 31 December 2021 |
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Net book value |
At 31 December 2021 |
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At 31 December 2020 |
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The dormant subsidiary, Building Colleges for Nothing Limited, was dissolved on 21 December 2021. |
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6. | Debtors: amounts falling due within one year |
2021 | 2020 |
£ | £ |
Trade debtors |
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Other debtors |
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7. | Creditors: amounts falling due within one year |
2021 | 2020 |
£ | £ |
Taxation and social security |
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Other creditors |
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8. | Related party disclosures |
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Included in other creditors at the year end is an amount of £13 (2020 - £nil) due to a connected company. |