REGISTERED NUMBER:
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2020 |
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FOR |
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BREACHWOOD TRANSPORT & REMOVALS LIMITED |
TRADING AS |
BTR INTERNATIONAL |
REGISTERED NUMBER:
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2020 |
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FOR |
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BREACHWOOD TRANSPORT & REMOVALS LIMITED |
TRADING AS |
BTR INTERNATIONAL |
BREACHWOOD TRANSPORT & REMOVALS LIMITED (REGISTERED NUMBER: 00722110) |
TRADING AS BTR INTERNATIONAL |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 31 March 2020 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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BREACHWOOD TRANSPORT & REMOVALS LIMITED |
TRADING AS BTR INTERNATIONAL |
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COMPANY INFORMATION |
for the year ended 31 March 2020 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Chartered Accountants |
Statutory Auditor |
Magma House, 16 Davy Court |
Castle Mound Way |
Rugby |
CV23 0UZ |
BREACHWOOD TRANSPORT & REMOVALS LIMITED (REGISTERED NUMBER: 00722110) |
TRADING AS BTR INTERNATIONAL |
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BALANCE SHEET |
31 March 2020 |
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2020 | 2019 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 | ( |
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NET CURRENT LIABILITIES | ( |
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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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( |
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NET LIABILITIES | ( |
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CAPITAL AND RESERVES |
Called up share capital | 10 |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
signed on its behalf by: |
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BREACHWOOD TRANSPORT & REMOVALS LIMITED (REGISTERED NUMBER: 00722110) |
TRADING AS BTR INTERNATIONAL |
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NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 31 March 2020 |
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1. | STATUTORY INFORMATION |
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Breachwood Transport & Removals Limited is a private company, limited by share capital registered in England |
and Wales. The company's registered number is 00722110 and its registered office is Magma House, 16 Davy |
Court, Castle Mound Way, Rugby, England, CV23 0UZ. |
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The company's place of business is BTR International, Unit A20, Basepoint Business Centre, 110 Great |
Marlings, Luton, LU2 8DL. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" |
of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of |
Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost |
convention. |
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The financial statements are presented in Sterling (£). |
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Going Concern |
At the year end, Coronavirus had become a global pandemic with the vast majority of countries, including the |
UK, entering a lockdown. Given the nature of the business, this has severely affected trade close to and since |
the year end. There is still significant uncertainty over the future development of this situation, though at date of |
signing individuals are permitted to move again with further easing of restrictions expected in the coming |
months. |
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At 31 March 2020 the company had net current liabilities of £151,098 (2019: £261,197) and negative reserves of |
£112,959 (2019: £208,408). The directors have prepared the financial statements on a going concern basis as |
the parent undertaking, P N Writer & Co Limited, has confirmed that it will support the company financially |
through this loss of trade, and will make sufficient funds available to ensure the company can meet its debts as |
they fall due. The loan with the parent company will not be recalled until Breachwood Transport & Removals |
Limited have sufficient funds to repay the balance. The directors have confirmed that adequate cash resources |
will be available to cover the company's requirements for working capital and capital expenditure for at least |
twelve months from the date of these accounts. |
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Turnover |
Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: |
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Rendering of services |
Revenue from a contract to provide services is recognised in the period in which the services are provided when |
all of the following conditions are satisfied: |
- the amount of revenue can be measured reliably; |
- it is probable that the Company will receive the consideration due under the contract; |
- the delivery has been made, which constitutes a significant act as part of the service. |
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Tangible fixed assets |
Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated |
impairment losses. Historical costs includes expenditure that is directly attributable to bringing the asset to the |
location and condition necessary for it to be capable of operating in the manner intended by management. |
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Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful |
lives, using either a straight line or reducing balance method, as indicated below. |
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Depreciation is provided on the following basis: |
Fixtures and fittings | - | 20% reducing balance |
Motor vehicles | - | 25% reducing balance |
Computer equipment | - | 15% reducing balance |
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The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if |
appropriate, or if there is an indication of a significant change since the last reporting date. |
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Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are |
recognised in profit or loss. |
BREACHWOOD TRANSPORT & REMOVALS LIMITED (REGISTERED NUMBER: 00722110) |
TRADING AS BTR INTERNATIONAL |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 March 2020 |
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2. | ACCOUNTING POLICIES - continued |
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Financial instruments |
The Company only enters into basic financial instrument transactions that result in the recognition of financial |
assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to |
related parties and investments in non-puttable ordinary shares. |
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Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period |
for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is |
recognised in profit or loss. |
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Basic financial liabilities, including trade and other creditors are initially recognised at transaction price, unless |
the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value |
of the future payments discounted at a market rate of interest. |
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Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
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Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an |
enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise |
the asset and settle the liability simultaneously. |
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Debtors |
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the |
arrangement constitutes a financing transaction, where the transaction is measured at the present value of the |
future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost |
using the effective interest method, less any impairment. |
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Cash and cash equivalents |
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and |
other short-term highly liquid investments that mature in no more than three months from the date of acquisition |
and that are readily convertible to known amounts of cash with insignificant risk of change in value. |
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Creditors |
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related |
parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, |
where the debt instrument is measured at the present value of the future payments discounted at a market rate |
of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less |
any impairment. |
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Taxation |
The tax expense for the year comprises current and deferred tax. |
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Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised |
as other comprehensive income or to an item recognised directly in equity is also recognised in other |
comprehensive income or directly in equity respectively. |
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Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by |
the Balance Sheet date, except that: |
- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered |
against the reversal of deferred tax liabilities or other future taxable profits; and |
- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have |
been met. |
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Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively |
enacted by the balance sheet date. |
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Foreign currencies |
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at |
the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange |
ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
scheme are charged to profit or loss in the period to which they relate. |
BREACHWOOD TRANSPORT & REMOVALS LIMITED (REGISTERED NUMBER: 00722110) |
TRADING AS BTR INTERNATIONAL |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 March 2020 |
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2. | ACCOUNTING POLICIES - continued |
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Leased assets |
At inception the company assess arrangements that transfer the right to use assets. The assessment considers |
whether the arrangement is, or contains, a lease based on the substance of the arrangement. |
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(i) Finance leased assets |
Leases of assets that transfer all the risks and rewards of ownership are classed as finance leases. Finance |
leases are capitalised at commencement of the lease at their fair value. The capital element of the future |
payments is treated as a liability and the interest is charged to the profit and loss account on a straight line basis. |
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Assets are depreciated over the shorter of the lease term and the estimated useful life of the asset. Assets are |
assessed for impairment at each reporting date. |
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(ii) Operating leased assets |
Leases that do not transfer all the risks and rewards of ownership are classified as operating leases. Payments |
under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Motor | Computer |
fittings | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 April 2019 |
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Additions |
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Disposals | ( |
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At 31 March 2020 |
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DEPRECIATION |
At 1 April 2019 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31 March 2020 |
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NET BOOK VALUE |
At 31 March 2020 |
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At 31 March 2019 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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BREACHWOOD TRANSPORT & REMOVALS LIMITED (REGISTERED NUMBER: 00722110) |
TRADING AS BTR INTERNATIONAL |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 March 2020 |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Hire purchase contracts (see note 8) |
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Trade creditors |
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Amounts owed to group undertakings |
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Taxation and social security |
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Other creditors |
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7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2020 | 2019 |
£ | £ |
Hire purchase contracts (see note 8) |
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8. | LEASING AGREEMENTS |
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Minimum lease payments fall due as follows: |
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Hire purchase contracts |
2020 | 2019 |
£ | £ |
Net obligations repayable: |
Within one year |
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Between one and five years |
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Non-cancellable |
operating leases |
2020 | 2019 |
£ | £ |
Within one year |
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Between one and five years |
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9. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2020 | 2019 |
£ | £ |
Hire purchase contracts | 153 | 31,080 |
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The hire purchase contracts are secured by fixed assets financed under the agreements. |
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10. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2020 | 2019 |
value: | £ | £ |
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Ordinary | £1 | 100 | 100 |
BREACHWOOD TRANSPORT & REMOVALS LIMITED (REGISTERED NUMBER: 00722110) |
TRADING AS BTR INTERNATIONAL |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 March 2020 |
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11. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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12. | RELATED PARTY DISCLOSURES |
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During the year, sales of £295,372 (2019: £134,764) were made to group entities that have a controlling interest |
in the company. |
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During the year, administrative expenses of £495,995 (2019: £364,486) were charged from group entities that |
have a controlling interest in the company. |
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At the year end, the company owed £494,091 (2019: £336,232) to group entities that have a controlling interest |
in the company. |
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At the year end, the company was owed £15,970 (2019: £nil) from group entities that have a controlling interest |
in the company. |
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At the year end, former directors of the company were owed £nil (2019: £95,000). |