COMPANY REGISTRATION NUMBER:
Bakeley Apartments Ltd
Period from 1 November 2018 to 31 March 2020
Bakeley Apartments Ltd
Contents
Company Information |
|
Balance Sheet |
|
Notes to the Unaudited Financial Statements |
Bakeley Apartments Ltd
Company Information
Directors |
Mr Matthew Baker Mrs Naomi Barkley |
Registered office |
|
Accountants |
|
Bakeley Apartments Ltd
(Registration number: 11022878)
Balance Sheet as at 31 March 2020
Note |
31 March 2020 |
31 October 2018 |
|
Fixed assets |
|||
Tangible assets |
|
|
|
Investment property |
|
|
|
|
|
||
Current assets |
|||
Debtors |
|
- |
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current liabilities |
( |
( |
|
Total assets less current liabilities |
|
|
|
Creditors: Amounts falling due after more than one year |
( |
( |
|
Provisions for liabilities |
|
- |
|
Net assets/(liabilities) |
|
( |
|
Capital and reserves |
|||
Called up share capital |
|
|
|
Other reserves |
|
- |
|
Profit and loss account |
( |
( |
|
Total equity |
|
( |
Bakeley Apartments Ltd
(Registration number: 11022878)
Balance Sheet as at 31 March 2020
For the financial period ending 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
|
• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and loss account has been taken.
Approved and authorised for issue by the
.........................................
Director
.........................................
Director
Bakeley Apartments Ltd
Notes to the Unaudited Financial Statements for the Period from 1 November 2018 to 31 March 2020
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statements are presented in Sterling and rounded to the nearest full £.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities.
The company recognises revenue when customers are invoiced for rent
Tax
The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Bakeley Apartments Ltd
Notes to the Unaudited Financial Statements for the Period from 1 November 2018 to 31 March 2020
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Equipment |
25% Straight Line |
Investment property
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Bakeley Apartments Ltd
Notes to the Unaudited Financial Statements for the Period from 1 November 2018 to 31 March 2020
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity.
Staff numbers |
The average number of persons employed by the company (including directors) during the period, was
Bakeley Apartments Ltd
Notes to the Unaudited Financial Statements for the Period from 1 November 2018 to 31 March 2020
Tangible assets |
Furniture, fittings and equipment |
Total |
|
Cost or valuation |
||
At 1 November 2018 |
|
|
At 31 March 2020 |
|
|
Depreciation |
||
At 1 November 2018 |
|
|
Charge for the period |
|
|
At 31 March 2020 |
|
|
Carrying amount |
||
At 31 March 2020 |
|
|
At 31 October 2018 |
|
|
Investment properties |
2020 |
|
At 1 November |
|
Additions |
|
Fair value adjustments |
|
At 31 March |
|
The directors have revlaued the property and deem the amount at the balance sheet date to be the current market value.
There has been no valuation of investment property by an independent valuer.
Bakeley Apartments Ltd
Notes to the Unaudited Financial Statements for the Period from 1 November 2018 to 31 March 2020
Debtors |
2020 |
2018 |
|
Trade debtors |
|
- |
|
- |
Creditors |
Creditors: amounts falling due within one year
Note |
2020 |
2018 |
|
Due within one year |
|||
Other borrowings |
|
|
|
Trade creditors |
|
- |
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
- |
|
Accruals and deferred income |
|
|
|
|
|
Creditors: amounts falling due after more than one year
Note |
2020 |
2018 |
|
Due after one year |
|||
Loans and borrowings |
|
|
Share capital |
Allotted, called up and fully paid shares
2020 |
2018 |
|||
No. |
£ |
No. |
£ |
|
|
|
2 |
|
2 |
Bakeley Apartments Ltd
Notes to the Unaudited Financial Statements for the Period from 1 November 2018 to 31 March 2020
Loans and borrowings |
2020 |
2018 |
|
Non-current loans and borrowings |
||
Bank borrowings |
|
- |
Other borrowings |
|
|
|
|
2020 |
2018 |
|
Current loans and borrowings |
||
Other borrowings |
|
|
Bank borrowings
The bank loans are secured by a fixed charge on the company's investment property they relate to. |
Related party transactions |
Key management personnel
The directors
Summary of transactions with key management
No interest has been charged and there is no set date for repayment.
Bakeley Apartments Ltd
Notes to the Unaudited Financial Statements for the Period from 1 November 2018 to 31 March 2020
Summary of transactions with entities with joint control or significant interest
During the year the company loaned money from companies under common control. At the balance sheet date the amount due from the company was £440,536
A related party company received a loan. at the balance sheet date, the amount due from the related party was £5,000.
No interest has been charged and there is no set date for repayment.