REGISTERED NUMBER:
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BSR CONNECT LIMITED |
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AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 |
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REGISTERED NUMBER:
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BSR CONNECT LIMITED |
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AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 |
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BSR CONNECT LIMITED (REGISTERED NUMBER: 08439971) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 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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BSR CONNECT LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 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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Statutory Auditors |
Chartered Accountants |
Fryern House |
125 Winchester Road |
Chandlers Ford |
Hampshire |
SO53 2DR |
BSR CONNECT LIMITED (REGISTERED NUMBER: 08439971) |
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BALANCE SHEET |
31 DECEMBER 2020 |
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2020 | 2019 |
Notes | £ | £ |
CURRENT ASSETS |
Stocks |
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Debtors | 3 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 4 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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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 Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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BSR CONNECT LIMITED (REGISTERED NUMBER: 08439971) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2020 |
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1. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The presentation currency is £ sterling. |
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Related party disclosures |
The company has taken advantage of the 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. |
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Significant judgements and estimates |
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date, and the amounts reports for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. |
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The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements. |
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1) | Revenue recognition |
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Revenue is recognised in relation to the value of work carried out which is based on the project as a
whole. Judgements are made on the timing of revenue recognition based on the stage of completion percentage of the work, and the expected outcome of the contract. |
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Other key sources of estimation uncertainty: |
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1) | Revenue recognition |
Estimates are based upon the stage of completion percentage of a contract. |
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Contract revenue recognition |
Long-term contracts are assessed on a contract by contract basis and are reflected in the Income Statement account by recording turnover and related costs as contract activity progresses. Where the outcome of each long-term contract can be assessed with reasonable certainty before its conclusion, the attributable profit is recognised in the Income Statement as the difference between the reported turnover and related costs for that contract. |
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Stocks |
Stocks are valued at the lower of cost and recoverable value. Cost is based on the cost of purchases on a first in, first out basis. Recoverable value is based on estimated selling price less additional costs to completion and disposal. |
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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 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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BSR CONNECT LIMITED (REGISTERED NUMBER: 08439971) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2020 |
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1. | 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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Financial instruments |
Financial instruments are classified and accounted for according to the substance of the contractual arrangements as either financial assets, financial liabilities or equity instruments, and are held at amortised cost. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all its liabilities. |
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2. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2019 -
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3. | 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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Prepayments and accrued income |
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4. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Trade creditors |
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Amounts owed to group undertakings |
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Social security and other taxes |
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Accruals and deferred income |
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5. | 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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6. | ULTIMATE PARENT COMPANY |
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The immediate parent company is British Solar Renewables Limited, a company registered in England & Wales. The ultimate parent company is BSR Group Holdings, a company registered in England & Wales. |
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The largest and smallest group in which the results of the company are consolidated is that headed by BSR Group Holdings Limited, incorporated in England & Wales. The consolidated accounts of this company are available to the public and may be obtained from Companies House. No other group accounts include the results of the company. |