REGISTERED NUMBER:
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Book Let Limited |
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Unaudited Financial Statements |
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for the Year Ended 31 July 2020 |
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REGISTERED NUMBER:
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Book Let Limited |
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Unaudited Financial Statements |
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for the Year Ended 31 July 2020 |
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Book Let Limited (Registered number: 11472478) |
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Contents of the Financial Statements |
for the Year Ended 31 July 2020 |
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Page |
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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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Book Let Limited |
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Company Information |
for the Year Ended 31 July 2020 |
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Director: |
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Registered office: |
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Registered number: |
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Accountants: |
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Chartered Accountants |
Mynshull House |
78 Churchgate |
Stockport |
Cheshire |
SK1 1YJ |
Book Let Limited (Registered number: 11472478) |
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Balance Sheet |
31 July 2020 |
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31.7.20 | 31.7.19 |
Notes | £ | £ |
Fixed assets |
Tangible assets | 4 |
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Investment property | 5 |
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Current assets |
Cash in hand |
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Creditors |
Amounts falling due within one year | 6 | ( |
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Net current (liabilities)/assets | ( |
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Total assets less current liabilities |
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Creditors |
Amounts falling due after more than one
year |
7 |
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Provisions for liabilities | 9 | ( |
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Net assets |
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Capital and reserves |
Called up share capital | 10 |
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Fair value reserve | 11 |
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Retained earnings | ( |
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Shareholders' funds |
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The director acknowledges her 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. |
Book Let Limited (Registered number: 11472478) |
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Balance Sheet - continued |
31 July 2020 |
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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 director and authorised for issue on
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Book Let Limited (Registered number: 11472478) |
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Notes to the Financial Statements |
for the Year Ended 31 July 2020 |
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1. | Statutory information |
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Book Let Limited is a
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2. | Accounting policies |
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Basis of preparing the financial statements |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Investment property |
Investment properties are initially measured at cost and subsequently measured at fair value. Changes in fair value are recognised in profit or loss. |
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The Companies Act 2006 requires all properties to be depreciated. However, this requirement conflicts with the generally accepted accounting principle set out in FRS 102. The directors consider that, because investment properties are not held for consumption, but for their investment potential, to depreciate them would not give a true and fair view. |
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If this departure from the Companies Act 2006 had not been made in order to give a true and fair view, the profit for the financial year would have been reduced by depreciation. However the amount of depreciation cannot reasonably be quantified, because depreciation is only one of many factors reflected in the annual valuation and the amount relating to the depreciation of the property cannot be separately identified. |
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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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Book Let Limited (Registered number: 11472478) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 July 2020 |
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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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3. | Employees and directors |
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The average number of employees during the year was NIL (2019 - NIL). |
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4. | Tangible fixed assets |
Fixtures |
and |
fittings |
£ |
Cost |
Additions |
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At 31 July 2020 |
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Depreciation |
Charge for year |
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At 31 July 2020 |
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Net book value |
At 31 July 2020 |
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5. | Investment property |
Total |
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Fair value |
Additions |
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Valuation changes | 69,305 |
At 31 July 2020 |
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Net book value |
At 31 July 2020 |
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Book Let Limited (Registered number: 11472478) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 July 2020 |
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5. | Investment property - continued |
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Fair value at 31 July 2020 is represented by: |
£ |
Valuation in 2020 | 775,000 |
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If investment property had not been revalued it would have been included at the following historical cost: |
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31.7.20 | 31.7.19 |
£ | £ |
Cost | 705,695 | - |
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Investment property was valued on an open market basis on 31 July 2020 by the director . |
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6. | Creditors: amounts falling due within one year |
31.7.20 | 31.7.19 |
£ | £ |
Directors' current accounts | 233,542 | - |
Accrued expenses |
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7. | Creditors: amounts falling due after more than one year |
31.7.20 | 31.7.19 |
£ | £ |
Bank loans | 495,104 | - |
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Amounts falling due in more than five years: |
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Repayable otherwise than by instalments |
Bank loans |
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8. | Secured debts |
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The following secured debts are included within creditors: |
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31.7.20 | 31.7.19 |
£ | £ |
Bank loans |
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Book Let Limited (Registered number: 11472478) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 July 2020 |
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9. | Provisions for liabilities |
31.7.20 | 31.7.19 |
£ | £ |
Deferred tax | 13,168 | - |
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Deferred |
tax |
£ |
Provided during year |
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Balance at 31 July 2020 |
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10. | Called up share capital |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.7.20 | 31.7.19 |
value: | £ | £ |
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Ordinary | £1 | 200 | 200 |
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11. | Reserves |
Fair |
value |
reserve |
£ |
Transfer from retained earnings | 56,137 |
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At 31 July 2020 |
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