REGISTERED NUMBER:
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DIRECTORS' REPORT AND |
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AUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2020 |
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FOR |
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BRISTOL AND BATH SCIENCE PARK ESTATE |
MANAGEMENT COMPANY LIMITED |
REGISTERED NUMBER:
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DIRECTORS' REPORT AND |
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AUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2020 |
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FOR |
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BRISTOL AND BATH SCIENCE PARK ESTATE |
MANAGEMENT COMPANY LIMITED |
BRISTOL AND BATH SCIENCE PARK ESTATE |
MANAGEMENT COMPANY LIMITED (REGISTERED NUMBER: 07523533) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2020 |
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Company Information | 1 |
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Directors' Report | 2 |
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Independent Auditors' Report | 3 |
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Income Statement | 5 |
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Balance Sheet | 6 |
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Notes to the Financial Statements | 7 |
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BRISTOL AND BATH SCIENCE PARK ESTATE |
MANAGEMENT COMPANY LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2020 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Chartered Accountants and Statutory Auditors |
12 Melcombe Place |
London |
NW1 6JJ |
BRISTOL AND BATH SCIENCE PARK ESTATE |
MANAGEMENT COMPANY LIMITED (REGISTERED NUMBER: 07523533) |
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DIRECTORS' REPORT |
FOR THE YEAR ENDED 31 MARCH 2020 |
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The directors present their report with the financial statements of the company for the year ended 31 March 2020. |
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PRINCIPAL ACTIVITY |
The principal activity of the company is the provision of estate management services at Bristol and Bath Science Park. |
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DIRECTORS |
The directors shown below have held office during the whole of the period from 1 April 2019 to the date of this report. |
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DIRECTORS' RESPONSIBILITIES STATEMENT |
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations. |
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Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: |
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- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
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The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
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STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information. |
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AUDITORS |
Under section 487(2) of the Companies Act 2006, Websters, are deemed to be reappointed as auditor. |
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This report was approved by the board and signed on its behalf. |
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This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
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ON BEHALF OF THE BOARD: |
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INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF |
BRISTOL AND BATH SCIENCE PARK ESTATE |
MANAGEMENT COMPANY LIMITED |
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Opinion |
We have audited the financial statements of Bristol and Bath Science Park Estate Management Company Limited (the 'company') for the year ended 31 March 2020 which comprise the Income Statement, Balance Sheet and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). |
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In our opinion the financial statements: |
- | give a true and fair view of the state of the company's affairs as at 31 March 2020 and of its profit for the year then ended; |
- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
- | have been prepared in accordance with the requirements of the Companies Act 2006. |
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Basis for opinion |
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
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Conclusions relating to going concern |
We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where: |
- | the directors' use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or |
- | the directors have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the company's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue. |
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Other information |
The directors are responsible for the other information. The other information comprises the information in the Directors' Report, but does not include the financial statements and our Auditors' Report thereon. |
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Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
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In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. |
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Opinions on other matters prescribed by the Companies Act 2006 |
In our opinion, based on the work undertaken in the course of the audit: |
- | the information given in the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
- | the Directors' Report has been prepared in accordance with applicable legal requirements. |
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Matters on which we are required to report by exception |
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' Report. |
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We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion |
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us, or |
- the financial statements are not in agreement with the accounting records and returns, or |
- certain disclosures of directors' remuneration specified by law are not made, or |
- we have not received all the information and explanations we require for our audit, or |
- the directors were not entitled to take advantage of the small companies' exemption from the requirement to prepare a Strategic report |
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF |
BRISTOL AND BATH SCIENCE PARK ESTATE |
MANAGEMENT COMPANY LIMITED |
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Responsibilities of directors |
As explained more fully in the Directors' Responsibilities Statement set out on page two, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. |
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In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so. |
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Auditors' responsibilities for the audit of the financial statements |
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. |
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A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report. |
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Use of our report |
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed. |
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for and on behalf of
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Chartered Accountants and Statutory Auditors |
12 Melcombe Place |
London |
NW1 6JJ |
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BRISTOL AND BATH SCIENCE PARK ESTATE |
MANAGEMENT COMPANY LIMITED (REGISTERED NUMBER: 07523533) |
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INCOME STATEMENT |
FOR THE YEAR ENDED 31 MARCH 2020 |
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31.3.20 | 31.3.19 |
Notes | £ | £ |
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SERVICE CHARGE RECEIVABLE |
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Service charge expenditure | ( |
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GROSS PROFIT |
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Administrative expenses | ( |
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OPERATING LOSS | 4 | ( |
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Interest receivable and similar income |
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PROFIT BEFORE TAXATION |
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Tax on profit |
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PROFIT FOR THE FINANCIAL YEAR |
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BRISTOL AND BATH SCIENCE PARK ESTATE |
MANAGEMENT COMPANY LIMITED (REGISTERED NUMBER: 07523533) |
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BALANCE SHEET |
31 MARCH 2020 |
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31.3.20 | 31.3.19 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 5 |
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CREDITORS |
Amounts falling due within one year | 6 | ( |
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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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SHAREHOLDERS' FUNDS |
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The financial statements were approved by the Board of Directors and authorised for issue on
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BRISTOL AND BATH SCIENCE PARK ESTATE |
MANAGEMENT COMPANY LIMITED (REGISTERED NUMBER: 07523533) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2020 |
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1. | STATUTORY INFORMATION |
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Bristol and Bath Science Park Estate Management Company Limited is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
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Service charges receivable |
Service charges receivable represents service charge contributions receivable in respect of the year. |
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Recognition of income |
Service charges receivable is recognised in the financial statements concurrently with the recognition of the service charge expenditure that is being funded. |
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3. | EMPLOYEES AND DIRECTORS |
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The company had no employees during the period other than the directors, who did not receive any remuneration (2019 - £Nil). |
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4. | OPERATING LOSS |
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The operating loss is stated after charging: |
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31.3.20 | 31.3.19 |
£ | £ |
Auditors' remuneration |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.20 | 31.3.19 |
£ | £ |
Trade debtors |
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Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.20 | 31.3.19 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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7. | CONTROLLING PARTY |
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Throughout the year the company was a wholly owned subsidiary of South Gloucestershire District Council. |