Company Registration No. 10619753 (England and Wales)
BANYAN PROPERTY GROUP LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2018
PAGES FOR FILING WITH REGISTRAR
BANYAN PROPERTY GROUP LIMITED
COMPANY INFORMATION
Director
Mr B Pattni
Company number
10619753
Registered office
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
Lloyds TSB Bank
1 Butler Place
Westminster
London
SW1H 0PR
BANYAN PROPERTY GROUP LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 4
BANYAN PROPERTY GROUP LIMITED
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF BANYAN PROPERTY GROUP LIMITED FOR THE PERIOD ENDED 31 DECEMBER 2018
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Banyan Property Group Limited for the period ended 31 December 2018 which comprise, the balance sheet and the 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 Banyan Property Group Limited, as a body, in accordance with
our
terms
of
engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Banyan Property Group Limited
and state those matters that we have agreed to state to the Board of Directors of Banyan Property Group 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 Banyan Property Group Limited and its Board of Directors as a body, for
our work or for this report.
It is your duty to ensure that Banyan Property Group 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 Banyan Property Group Limited. You consider that Banyan Property Group Limited is exempt from the statutory audit
requirement for the period.
We have not been instructed to carry out an audit or a review of the financial statements of Banyan Property Group 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.
Ormerod Rutter Limited
14 June 2019
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
BANYAN PROPERTY GROUP LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2018
31 December 2018
- 2 -
2018
2018
Notes
£
£
£
£
Fixed assets
Investments
2
200
200
Current assets
Debtors
3
27,889
164
Creditors: amounts falling due within one year
4
(24,063)
(732)
Net current assets/(liabilities)
3,826
(568)
Total assets less current liabilities
4,026
(368)
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
3,926
(468)
Total equity
4,026
(368)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial period ended 31 December 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 14 June 2019.
Mr B Pattni
Director
Company Registration No. 10619753
BANYAN PROPERTY GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2018
- 3 -
1
Accounting policies
Company information
Banyan Property Group Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
The Oakley, Kidderminster Road, Droitwich, Worcestershire, WR9 9AY.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
The company has taken advantage of the exemption under section
399
of the
Companies Act 2006 not to prepare consolidated accounts
, on the basis that the group of which this is the parent qualifies as a small group
. The financial statements present information about the company as an individual entity and not about its group
.
1.2
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.
The investments are assessed for impairment at each reporting date
and
any
impairment
losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company
. Control is
the power to govern the financial and operating policies of
the
entity so as to obtain benefits from its activities.
2
Fixed asset investments
2018
2018
£
£
Investments
200
200
Movements in fixed asset investments
Shares in group undertakings
£
Cost or valuation
At 1 March 2018 & 31 December 2018
200
Carrying amount
At 31 December 2018
200
At 28 February 2018
200
BANYAN PROPERTY GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2018
- 4 -
3
Debtors
2018
2018
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
27,889
164
4
Creditors: amounts falling due within one year
2018
2018
£
£
Bank loans and overdrafts
7
-
Other creditors
24,056
732
24,063
732
5
Secured debts
The following secured debts are included within creditors:
2018
2018
£
£
Bank overdrafts
7
-
6
Called up share capital
2018
2018
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary A of £1 each
100
100
100
100
7
Related party transactions
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.
8
Ultimate controlling party
The ultimate controlling party is Mr B Pattni.