Besshall Limited Filleted accounts for Companies House (small and micro)

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COMPANY REGISTRATION NUMBER: 03715854

Besshall Limited

Filleted Unaudited Abridged Financial Statements

30 June 2018

Besshall Limited

Chartered Accountant's Report to the Director on the Preparation of the Unaudited Statutory Abridged Financial Statements of Besshall Limited

Year ended 30 June 2018

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abridged financial statements of Besshall Limited for the year ended 30 June 2018, which comprise the abridged statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the director of Besshall Limited in accordance with the terms of our engagement letter dated 1 March 2018. Our work has been undertaken solely to prepare for your approval the abridged financial statements of Besshall Limited and state those matters that we have agreed to state to you in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Besshall Limited and its director for our work or for this report.

It is your duty to ensure that Besshall Limited has kept adequate accounting records and to prepare statutory abridged financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Besshall Limited. You consider that Besshall Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the abridged financial statements of Besshall Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory abridged financial statements.

CAS Chartered accountant

151 Askew Road London W12 9AU

13 March 2019

Besshall Limited

Abridged Statement of Financial Position

30 June 2018

	2018		2017
Note	£	£	£

Fixed assets

Tangible assets	5		816,979	818,280

Current assets

Debtors	18,000	–
Cash at bank and in hand	11,541	26,936
	--------	--------
	29,541	26,936

Creditors: amounts falling due within one year	144,056		147,078
	---------		---------
Net current liabilities		114,515	120,142
		---------	---------
Total assets less current liabilities		702,464	698,138

Creditors: amounts falling due after more than one year	628,589	628,589
	---------	---------
Net assets	73,875	69,549
	---------	---------

Capital and reserves

Called up share capital	2	2
Profit and loss account	73,873	69,547
	--------	--------
Shareholders funds	73,875	69,549
	--------	--------

These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the year ending 30 June 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;

- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .

All of the members have consented to the preparation of the abridged statement of financial position for the year ending 30 June 2018 in accordance with Section 444(2A) of the Companies Act 2006.

Besshall Limited

Abridged Statement of Financial Position (continued)

30 June 2018

These abridged financial statements were approved by the board of directors and authorised for issue on 13 March 2019 , and are signed on behalf of the board by:

Mrs R Al Kayssi
Director

Company registration number: 03715854

Besshall Limited

Notes to the Abridged Financial Statements

Year ended 30 June 2018

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 151 Askew Road, London, W12 9AU.

2. Statement of compliance

These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The abridged financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures & Fittings	-	25% reducing balance
Equipment	-	25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2017: 2 ).

5. Tangible assets

	£
Cost
At 1 July 2017 and 30 June 2018	832,712
	---------
Depreciation
At 1 July 2017	14,432
Charge for the year	1,301
	---------
At 30 June 2018	15,733
	---------
Carrying amount
At 30 June 2018	816,979
	---------
At 30 June 2017	818,280
	---------

6. Financial instruments at fair value

Enter your own text here for additional disclosures relating to financial instruments. For example, terms and conditions of long-term debt, the extent and nature of derivative instruments, including significant terms and conditions that may affect the amount, timing and certainty of future cash flows, and also the amount of any impairment loss for each class of financial asset.

7. Director's advances, credits and guarantees

At the year end the company owed Mrs R Al Kayssi £142,474 (2017: £130,452).

8. Related party transactions

The company was under the joint control of Mrs R Al Kayssi throughout the current year. Mrs R Al Kayssi is the managing director and majority shareholder. During the year the company paid the director nil (2017: £10,000) in dividend.

9. Other spare note 99 heading

SPAREB99 USER DEFINED HEADING

The company.......