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Unaudited Financial Statements for the Year Ended 31 March 2021 |
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Beaufort Construction London Limited |
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Unaudited Financial Statements for the Year Ended 31 March 2021 |
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for |
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Beaufort Construction London Limited |
Beaufort Construction London Limited (Registered number: 09999767) |
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Contents of the Financial Statements |
for the Year Ended 31 March 2021 |
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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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Beaufort Construction London Limited |
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Company Information |
for the Year Ended 31 March 2021 |
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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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Quantum House |
3-5 College Street |
Nottingham |
NG1 5AQ |
Beaufort Construction London Limited (Registered number: 09999767) |
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Balance Sheet |
31 March 2021 |
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2021 | 2020 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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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 ASSETS/(LIABILITIES) |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than
one year |
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NET ASSETS/(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 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. |
Beaufort Construction London Limited (Registered number: 09999767) |
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Balance Sheet - continued |
31 March 2021 |
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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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Beaufort Construction London Limited (Registered number: 09999767) |
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Notes to the Financial Statements |
for the Year Ended 31 March 2021 |
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1. | STATUTORY INFORMATION |
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Beaufort Construction London Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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These accounts have been prepared on a going concern basis as the company is expected to be profitable in future years. The loans made to the company by the directors will not be repaid until cash resources permit and they would continue to support the company by providing working capital as necessary. |
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Turnover |
Turnover represents income from construction contracts recognised at each stage of completion. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Stocks |
Work in progress is valued at the lower of cost and net realisible value. |
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Cost includes all direct costs. The proportion that costs incurred for work performed to date bear to the estimated total costs. Costs incurred for work performed to date do not include costs relating to future activity, such as for materials or prepayments. |
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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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Beaufort Construction London Limited (Registered number: 09999767) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2021 |
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2. | ACCOUNTING POLICIES - continued |
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. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
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Going concern and impact of covid-19 on the financial statements |
The company continues to operate during these challenging times and has taken advantage of the relevant financial assistance packages when appropriate. |
The company continues to quote and win work, and although the logistical and financial impact of the Covid-19 pandemic has caused delays with some of the projects, the directors are confident that the financial statements should be prepared on a going concern basis to reflect the company's improving position. |
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Government grants |
Government grants relate to financial support provided during the Coronavirus (Covid-19) |
pandemic in relation to the Bounce Back Loan. |
Business interruption payments have been accounted for using the accrual model. |
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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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Beaufort Construction London Limited (Registered number: 09999767) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2021 |
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4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1 April 2020 |
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Additions |
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At 31 March 2021 |
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DEPRECIATION |
At 1 April 2020 |
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Charge for year |
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At 31 March 2021 |
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NET BOOK VALUE |
At 31 March 2021 |
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At 31 March 2020 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade debtors |
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Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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Beaufort Construction London Limited (Registered number: 09999767) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2021 |
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7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR |
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Long term creditors includes funds received under the Bounce Back Loan Scheme; a government-backed lending scheme designed to support businesses affected by Covid-19. |
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Amounts due after more than 5 years amounted to £4,365 (2020: £nil). |
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8. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The directors continue to support the company by way of interest free loans and will not seek repayment until cash resource permits. |