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Unaudited Financial Statements |
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for the Year Ended 31 March 2017 |
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for |
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Badger Lettings Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 31 March 2017 |
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for |
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Badger Lettings Limited |
Badger Lettings Limited (Registered number: 07596291) |
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Contents of the Financial Statements |
for the Year Ended 31 March 2017 |
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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 | 4 |
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Badger Lettings Limited |
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Company Information |
for the Year Ended 31 March 2017 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Roland House |
Princes Dock Street |
HULL HU1 2LD |
Badger Lettings Limited (Registered number: 07596291) |
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Balance Sheet |
31 March 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 3 |
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Investments | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
7 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 9 |
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Retained earnings | 10 |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
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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. |
Badger Lettings Limited (Registered number: 07596291) |
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Balance Sheet - continued |
31 March 2017 |
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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
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Badger Lettings Limited (Registered number: 07596291) |
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Notes to the Financial Statements |
for the Year Ended 31 March 2017 |
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1. | STATUTORY INFORMATION |
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Badger Lettings 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 company is dependant on the continued financial support of the Directors who have agreed to provide such |
support to ensure the company will be able to trade as a going concern for the foreseeable future. Accordingly, |
the financial statements have been prepared on the going concern basis. |
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Preparation of consolidated financial statements |
The financial statements contain information about Badger Lettings Limited as an individual company and do not |
contain consolidated financial information as the parent of a group. The company has taken the option under |
Section 398 of the Companies Act 2006 not to prepare consolidated financial statements. |
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Turnover |
Turnover represents rents received from properties owned by the company. |
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Tangible fixed assets |
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Land and buildings | - |
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Plant and machinery etc | - |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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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 |
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. |
Badger Lettings Limited (Registered number: 07596291) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2017 |
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3. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 April 2016 |
and 31 March 2017 |
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DEPRECIATION |
At 1 April 2016 |
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Charge for year |
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At 31 March 2017 |
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NET BOOK VALUE |
At 31 March 2017 |
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At 31 March 2016 |
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Freehold property is held at historical cost. |
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4. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 April 2016 |
and 31 March 2017 |
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NET BOOK VALUE |
At 31 March 2017 |
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At 31 March 2016 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Bank loans and overdrafts |
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Amounts owed to group undertakings |
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Taxation and social security |
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Other creditors |
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Badger Lettings Limited (Registered number: 07596291) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2017 |
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7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2017 | 2016 |
£ | £ |
Bank loans |
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Other creditors |
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8. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2017 | 2016 |
£ | £ |
Bank loans |
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9. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
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Number: |
Class: |
Nominal
Value: |
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250 | Ordinary A | £1 | 250 |
250 | Ordinary B | £1 | 250 |
250 | Ordinary C | £1 | 250 |
250 | Ordinary D | £1 | 250 |
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Each share is entitled to one vote in any circumstances, is entitled pari passu to dividend payments or any other |
distribution and is entitled pari passu to participate in a distribution arising from a winding up of the company. |
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10. | RESERVES |
Retained |
earnings |
£ |
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At 1 April 2016 |
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Profit for the year |
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At 31 March 2017 |
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11. | RELATED PARTY DISCLOSURES |
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Mr A R Wills and Mrs S E Wills |
Directors |
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During the year the company was loaned a further £105,145 by Mr A R & Mrs S E Wills. At 31 March 2017 the |
company owed £150,000 (2016 - £150,000) to Mrs S E Wills and £422,367 (2016 - £317,222) to Mr A R and |
Mrs S E Wills, the directors of the company. |
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These loans are interest free and unsecured. An amount of £18,150 is repayable within one year and £554,217 is |
repayable in more than one year. |
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12. | ULTIMATE CONTROLLING PARTY |
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The company is controlled by the Wills Family. |
Badger Lettings Limited (Registered number: 07596291) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2017 |
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13. | TRANSITION TO FRS 102 |
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These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 |
April 2015. |
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Reconciliation of equity |
No transitional adjustments were required. |
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Reconciliation of profit or loss for the year |
No transitional adjustments were required. |