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2021-03-31
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No description of principal activities is disclosed
2020-04-01
Sage Accounts Production 2020 Update 1 - FRS102_2019
xbrli:pure
xbrli:shares
iso4217:GBP
10446854
2020-04-01
2021-03-31
10446854
2021-03-31
10446854
2020-03-31
10446854
2019-04-01
2020-03-31
10446854
2020-03-31
10446854
2019-03-31
10446854
core:NetGoodwill
2020-04-01
2021-03-31
10446854
core:FurnitureFittingsToolsEquipment
2020-04-01
2021-03-31
10446854
bus:RegisteredOffice
2020-04-01
2021-03-31
10446854
bus:LeadAgentIfApplicable
2020-04-01
2021-03-31
10446854
bus:Director1
2020-04-01
2021-03-31
10446854
bus:Director2
2020-04-01
2021-03-31
10446854
core:NetGoodwill
2020-03-31
10446854
core:NetGoodwill
2021-03-31
10446854
core:FurnitureFittingsToolsEquipment
2020-03-31
10446854
core:FurnitureFittingsToolsEquipment
2021-03-31
10446854
core:WithinOneYear
2021-03-31
10446854
core:WithinOneYear
2020-03-31
10446854
core:RetainedEarningsAccumulatedLosses
2019-04-01
2020-03-31
10446854
core:RetainedEarningsAccumulatedLosses
2020-04-01
2021-03-31
10446854
core:ShareCapital
2021-03-31
10446854
core:ShareCapital
2020-03-31
10446854
core:RetainedEarningsAccumulatedLosses
2021-03-31
10446854
core:RetainedEarningsAccumulatedLosses
2020-03-31
10446854
core:ShareCapital
2019-03-31
10446854
core:RetainedEarningsAccumulatedLosses
2019-03-31
10446854
core:NetGoodwill
2020-03-31
10446854
core:FurnitureFittingsToolsEquipment
2020-03-31
10446854
bus:SmallEntities
2020-04-01
2021-03-31
10446854
bus:AuditExemptWithAccountantsReport
2020-04-01
2021-03-31
10446854
bus:FullAccounts
2020-04-01
2021-03-31
10446854
bus:SmallCompaniesRegimeForAccounts
2020-04-01
2021-03-31
10446854
bus:PrivateLimitedCompanyLtd
2020-04-01
2021-03-31
10446854
core:Associate1
2020-04-01
2021-03-31
10446854
core:Associate1
2019-04-01
2020-03-31
10446854
1
2020-04-01
2021-03-31
Company registration number:
10446854
Town & Country Edlesborough Limited
Unaudited filleted financial statements
31 March 2021
Town & Country Edlesborough Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Town & Country Edlesborough Limited
Directors and other information
|
|
|
|
Directors
|
Mr M Bristow
|
|
|
Mr M Saunders
|
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|
|
Company number
|
10446854
|
|
|
|
|
|
|
|
Registered office
|
51 High Street
|
|
|
Redbourn
|
|
|
St Albans
|
|
|
AL3 7LW
|
|
|
|
|
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|
|
Business address
|
65 Moor End
|
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|
Eaton Bray
|
|
|
Edlesborough
|
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|
LU6 2HN
|
|
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Accountants
|
Hardcastle Blake
|
|
|
2 Liscombe West
|
|
|
Liscombe Park
|
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Soulbury
|
|
|
Beds
|
|
|
LU7 0JL
|
|
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|
Town & Country Edlesborough Limited
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of Town & Country Edlesborough Limited
Year ended 31 March 2021
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Town & Country Edlesborough Limited for the year ended 31 March 2021 which comprise the statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of Town & Country Edlesborough Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Town & Country Edlesborough Limited and state those matters that we have agreed to state to the board of directors of Town & Country Edlesborough Limited as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Town & Country Edlesborough Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Town & Country Edlesborough Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Town & Country Edlesborough Limited. You consider that Town & Country Edlesborough Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Town & Country Edlesborough Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Hardcastle Blake
2 Liscombe West
Liscombe Park
Soulbury
Beds
LU7 0JL
17 June 2021
Town & Country Edlesborough Limited
Statement of financial position
31 March 2021
|
|
|
2021
|
|
|
|
2020
|
|
|
|
|
Note
|
£
|
|
£
|
|
£
|
|
£
|
|
|
|
|
|
|
|
|
|
|
Fixed assets
|
|
|
|
|
|
|
|
|
|
Intangible assets
|
|
5
|
69,000
|
|
|
|
80,500
|
|
|
Tangible assets
|
|
6
|
3,401
|
|
|
|
7,094
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
|
|
72,401
|
|
|
|
87,594
|
|
|
|
|
|
|
|
|
|
|
Current assets
|
|
|
|
|
|
|
|
|
|
Debtors
|
|
7
|
8,674
|
|
|
|
7,706
|
|
|
Cash at bank and in hand
|
|
|
67,594
|
|
|
|
148
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
76,268
|
|
|
|
7,854
|
|
|
Creditors: amounts falling due
|
|
|
|
|
|
|
|
|
|
within one year
|
|
8
|
(
25,901)
|
|
|
|
(
17,287)
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
Net current assets/(liabilities)
|
|
|
|
|
50,367
|
|
|
|
(
9,433)
|
|
|
|
|
|
_______
|
|
|
|
_______
|
Total assets less current liabilities
|
|
|
|
|
122,768
|
|
|
|
78,161
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______
|
|
|
|
_______
|
Net assets
|
|
|
|
|
122,768
|
|
|
|
78,161
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
|
|
|
|
|
Capital and reserves
|
|
|
|
|
|
|
|
|
|
Called up share capital
|
|
|
|
|
150,000
|
|
|
|
150,000
|
Profit and loss account
|
|
|
|
|
(
27,232)
|
|
|
|
(
71,839)
|
|
|
|
|
|
_______
|
|
|
|
_______
|
Shareholders funds
|
|
|
|
|
122,768
|
|
|
|
78,161
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
|
|
|
|
|
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.
Directors 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
17 June 2021
, and are signed on behalf of the board by:
Mr M Bristow
Director
Company registration number:
10446854
Town & Country Edlesborough Limited
Statement of changes in equity
Year ended 31 March 2021
|
|
Called up share capital
|
|
Profit and loss account
|
Total
|
|
|
|
|
|
|
|
£
|
|
£
|
£
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
At 1 April 2019
|
|
150,000
|
|
(
44,432)
|
105,568
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit/(loss) for the year
|
|
|
|
(
27,407)
|
(
27,407)
|
|
|
|
|
|
|
|
_______
|
|
_______
|
_______
|
|
|
|
|
|
Total comprehensive income for the year
|
|
-
|
|
(
27,407)
|
(
27,407)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______
|
|
_______
|
_______
|
|
|
|
|
|
At 31 March 2020 and 1 April 2020
|
|
150,000
|
|
(
71,839)
|
78,161
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit/(loss) for the year
|
|
|
|
44,607
|
44,607
|
|
|
|
|
|
|
|
_______
|
|
_______
|
_______
|
|
|
|
|
|
Total comprehensive income for the year
|
|
-
|
|
44,607
|
44,607
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______
|
|
_______
|
_______
|
|
|
|
|
|
At 31 March 2021
|
|
150,000
|
|
(
27,232)
|
122,768
|
|
|
|
|
|
|
|
_______
|
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Town & Country Edlesborough Limited
Notes to the financial statements
Year ended 31 March 2021
1.
General information
The company is a private company limited by shares, registered in England. The address of the registered office is 51 High Street, Redbourn, St Albans, AL3 7LW.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. The Triennial review 2017 amendments to the standard have been early adopted.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for estate agency services rendered, net of discounts and Value Added Tax.
When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
|
|
|
|
Goodwill |
- |
10 % |
straight line
|
|
|
|
|
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
|
|
|
|
|
Fittings fixtures and equipment
|
-
|
25 %
|
straight line
|
|
|
|
|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates
.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Financial instruments
A financial asset or a financial liability is recognised only when the company 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.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
1
(2020:
3
).
5.
Intangible assets
|
|
Goodwill
|
Total
|
|
|
|
|
|
|
£
|
£
|
|
|
|
|
|
Cost
|
|
|
|
|
|
|
|
At 1 April 2020 and 31 March 2021
|
115,000
|
115,000
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
Amortisation
|
|
|
|
|
|
|
|
At 1 April 2020
|
34,500
|
34,500
|
|
|
|
|
|
Charge for the year
|
11,500
|
11,500
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
At 31 March 2021
|
46,000
|
46,000
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
Carrying amount
|
|
|
|
|
|
|
|
At 31 March 2021
|
69,000
|
69,000
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
At 31 March 2020
|
80,500
|
80,500
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
|
|
6.
Tangible assets
|
|
Fixtures, fittings and equipment
|
Total
|
|
|
|
|
|
|
|
£
|
£
|
|
|
|
|
|
|
Cost
|
|
|
|
|
|
|
|
|
At 1 April 2020 and 31 March 2021
|
17,682
|
17,682
|
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
|
Depreciation
|
|
|
|
|
|
|
|
|
At 1 April 2020
|
10,588
|
10,588
|
|
|
|
|
|
|
Charge for the year
|
3,693
|
3,693
|
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
|
At 31 March 2021
|
14,281
|
14,281
|
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
|
Carrying amount
|
|
|
|
|
|
|
|
|
At 31 March 2021
|
3,401
|
3,401
|
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
|
At 31 March 2020
|
7,094
|
7,094
|
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7.
Debtors
|
|
|
2021
|
2020
|
|
|
|
£
|
£
|
|
Trade debtors
|
|
6,423
|
7,706
|
|
Other debtors
|
|
2,251
|
-
|
|
|
|
_______
|
_______
|
|
|
|
8,674
|
7,706
|
|
|
|
_______
|
_______
|
|
|
|
|
|
8.
Creditors: amounts falling due within one year
|
|
|
2021
|
2020
|
|
|
|
£
|
£
|
|
Bank loans and overdrafts
|
|
-
|
1,753
|
|
Corporation tax
|
|
4,065
|
-
|
|
Social security and other taxes
|
|
6,923
|
1,816
|
|
Other creditors
|
|
14,913
|
13,718
|
|
|
|
_______
|
_______
|
|
|
|
25,901
|
17,287
|
|
|
|
_______
|
_______
|
|
|
|
|
|
9.
Related party transactions
During the year the company entered into the following transactions with related parties:
|
|
Transaction value
|
|
|
|
|
|
2021
|
2020
|
|
|
|
|
£
|
£
|
|
|
|
Town and Country Caddington - management charges paid
|
30,924
|
18,500
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
|
|
|
10.
Controlling party
The parent company is T & C Edlesborough Limited - which shares the same registered office. The ultimate controlling party is M Bristow - director by virtue of his majority shareholding in the parent company
.