Registration number:
Bonham Freeholds Limited
for the Period from 21 March 2019 to 31 October 2019
Bonham Freeholds Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Bonham Freeholds Limited
Company Information
Directors |
J Jackson-Shilling R Steinhouse |
Company secretary |
S Whybrow |
Registered office |
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Accountants |
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Bonham Freeholds Limited
(Registration number: 11897342)
Balance Sheet as at 31 October 2019
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2019 |
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Current assets |
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Stocks |
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Creditors: Amounts falling due within one year |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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For the financial period ending 31 October 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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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 by the
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Director
Bonham Freeholds Limited
Notes to the Financial Statements
for the Period from 21 March 2019 to 31 October 2019
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
United Kingdom
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 prepared in sterling, which is the functional currency of the company. Monetary
amounts in these financial statements are rounded to the nearest £.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sales of properties, leases granted or extended during the year, rents, ground rents and insurance premiums. Property sales and leases granted or extended are recognised when the transaction is completed. Rents, ground rents and insurance premiums are recognised in the period to which they relate. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises current 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.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Bonham Freeholds Limited
Notes to the Financial Statements
for the Period from 21 March 2019 to 31 October 2019
Stocks
Property stocks acquired for development and resale are held at cost including direct costs of development.
Stocks of ground rents are acquired and held with the intention of resale and are valued at the lower of cost and net realisable value.
Net realisable value is based on estimated selling price less further costs to completion and disposal.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Staff numbers |
The average number of persons employed by the company (including directors) during the period, was
Stocks |
2019 |
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Property stock |
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Creditors |
Note |
2019 |
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Due within one year |
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Amounts owed to group undertakings |
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Taxation and social security |
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Related party transactions |
The company has taken advantage of the exemption under FRS 102 Section 1AC.35 from disclosing transactions with other group companies wholly owned within the group.