COMPANY REGISTRATION NUMBER:
08934876
BTB & Sons (Property) Ltd
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Filleted Unaudited Financial Statements
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BTB & Sons (Property) Ltd
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31 March 2021
Current assets
Stocks
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169,331
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–
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Debtors
|
4
|
300
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–
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Cash at bank and in hand
|
100
|
100
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|
---------
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----
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169,731
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100
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Creditors: amounts falling due within one year
|
5
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(
183,004)
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–
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|
---------
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----
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Net current (liabilities)/assets
|
(
13,273)
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100
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|
--------
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----
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Total assets less current liabilities
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(
13,273)
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100
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--------
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----
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Net (liabilities)/assets
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(
13,273)
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100
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--------
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----
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|
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Capital and reserves
Called up share capital
|
100
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100
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Profit and loss account
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(
13,373)
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–
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--------
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----
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Shareholders (deficit)/funds
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(
13,273)
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100
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--------
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----
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These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings (including profit and loss account) has not been delivered.
For the year ending 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
22 December 2021
, and are signed on behalf of the board by:
Company registration number:
08934876
BTB & Sons (Property) Ltd
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Notes to the Financial Statements
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Year ended 31 March 2021
1.
General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 22-26 King Street, King's Lynn, Norfolk, PE30 1HJ.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2020: 1).
Judgements and key sources of estimation uncertainty
The preparation of the financial statements in conformity with FRS 102 requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4.
Debtors
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2021
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2020
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£
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£
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Other debtors
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300
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–
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----
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----
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5.
Creditors:
amounts falling due within one year
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2021
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2020
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£
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£
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Bank loans and overdrafts
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140,159
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–
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Amounts owed to group undertakings and undertakings in which the company has a participating interest
|
41,765
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–
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Other creditors
|
1,080
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–
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---------
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----
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183,004
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–
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---------
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----
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6.
Related party transactions
No transactions were undertaken with the director/s or related parties such as are required to be disclosed under the Financial Reporting Standard 102, Section 1A (effective January 2019).