B & R Leisure Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06398435 (England and Wales)

Unaudited Financial Statements

for the Year Ended

30 June 2018

for

B & R Leisure Ltd

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

Chartered Certified Accountants' Report

8

DIRECTOR:

W Reynolds Esq

SECRETARY:

Mrs J A Reynolds

REGISTERED OFFICE:

Bartestree Court

Bartestree

Herefordshire

HR1 4DA

REGISTERED NUMBER:

06398435 (England and Wales)

ACCOUNTANTS:

Hawkins Priday Ltd

Chartered Certified Accountants

5 Bridge Street

Hereford

HR4 9DF

BANKERS:

Lloyds TSB Bank plc

8 High Town

Hereford

HR1 2AE

SOLICITORS:

Okells Solicitors

Church Row

Ross-on-Wye

Herefordshire

HR9 5HR

FIXED ASSETS

Property, plant and equipment

5

12,949

20,453

Investment property

6

1,807,570

1,850,000

1,820,519

1,870,453

CURRENT ASSETS

Inventories

602,264

70,890

Debtors

7

22,601

89,281

Cash at bank

81,135

282,587

706,000

442,758

CREDITORS

Amounts falling due within one year

8

448,434

51,191

NET CURRENT ASSETS

257,566

391,567

TOTAL ASSETS LESS CURRENT LIABILITIES

2,078,085

2,262,020

PROVISIONS FOR LIABILITIES

4,892

71,309

NET ASSETS

2,073,193

2,190,711

CAPITAL AND RESERVES

Called up share capital

200

200

Share premium

1,062,272

1,062,272

Fair value reserve

9

171,553

290,047

Retained earnings

839,168

838,192

SHAREHOLDERS' FUNDS

2,073,193

2,190,711

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 21 March 2019 and were signed by:

W Reynolds Esq - Director

1.	STATUTORY INFORMATION

B & R Leisure Ltd is a private company, limited by shares , registered in England and Wales. The company's registered

number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for

goods supplied or services rendered, stated net of discounts and of Value Added Tax.

The company recognises revenue when the amount can be measured reliably and when it is probable that future economic

benefits will flow to the entity.

In respect of long term contracts and contracts for on-going services, turnover represents the value of work carried out in

the year. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the

stage of completion of each contract.

Other operating income is derived from rents received from UK land and property.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33.3% on cost, 25% on cost, 25% on reducing balance, 20% on reducing balance and 15% on reducing balance

Investment property

Investment property is shown at fair value. Any aggregate surplus or deficit arising from changes in fair value is recognised

in the profit and loss account.

Inventories and work in progress

Inventories:

Inventories are valued at the lower of cost and estimated selling price less costs to sell, after making due allowance for

obsolete and slow moving items. Cost is calculated on a first in, first out basis.

Construction contracts:

Where the substance of a contract is that the contractual obligations are performed gradually over time, revenue is

recognised as contract activity progresses to reflect the partial performance of our contractual obligations. The amount of

revenue included reflects the accrual of the right to consideration as contract activity progresses by reference to the value of

the work performed.

Where the outcome cannot be assessed with reasonable certainty before their conclusion, no profit is reflected within the

profit and loss account in respect of such contracts. Cost is represented by all direct expenditure incurred.

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.

Current or deferred taxation assets and liabilities are not discounted.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of

financial position date.

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.

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.

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.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable and payable within one year are recorded at their initial

transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative

expenses.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2017 - 5 ) .

5.	PROPERTY, PLANT AND EQUIPMENT

Plant and

machinery

etc

£

COST

At 1 July 2017

30,339

Additions

14,383

Disposals

(29,567

)

At 30 June 2018

15,155

DEPRECIATION

At 1 July 2017

9,886

Charge for year

6,209

Eliminated on disposal

(13,889

)

At 30 June 2018

2,206

NET BOOK VALUE

At 30 June 2018

12,949

At 30 June 2017

20,453

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 July 2017

1,850,000

Additions

657,570

Reclassification/transfer

(700,000

)

At 30 June 2018

1,807,570

NET BOOK VALUE

At 30 June 2018

1,807,570

At 30 June 2017

1,850,000

The carrying value of investment property if held at historic cost is £1,765,975 (2017 £1,629,791).

The fair value of investment properties have been valued by the Director using current market prices for comparable

properties and adjusted, if necessary, for condition and location differences for the asset.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.18

30.6.17

£

£

Other debtors

22,601

89,281

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.18

30.6.17

£

£

Trade creditors

2,155

2,267

Taxation and social security

24,963

19,777

Other creditors

421,316

29,147

448,434

51,191

9.

RESERVES

Fair

value

reserve

£

At 1 July 2017

290,047

Movement on investment

properties

(118,494

)

At 30 June 2018

171,553

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2018 and 30 June 2017:

30.6.18

30.6.17

£

£

W Reynolds Esq

Balance outstanding at start of year

77,722

45,070

Amounts advanced

-

77,722

Amounts repaid

(77,722

)

(45,070

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

77,722

All advances made to the Director were interest free and repayable on demand.

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited

financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of

Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report

of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of B &

R Leisure Ltd for the year ended 30 June 2018 as set out on pages 3 to 10 from the company's accounting records and from

information and explanations you have given us.

As a member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional

requirements which are detailed at http://accaglobal.com/rulebook.

This report is made solely to the Director of B & R Leisure Ltd in accordance with the terms of our engagement letter. Our work has

been undertaken solely to prepare for approval by the Director the accounts of B & R Leisure Ltd and state those matters that we

have agreed to state to the Director of B & R Leisure Ltd , in this report in accordance with the requirements of the Association of

Chartered Certified Accountants as detailed at http://accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not

accept or assume responsibility to anyone other than B & R Leisure Ltd and its Director for our work or for this report.

It is your duty to ensure that B & R Leisure Ltd has kept adequate accounting records and to prepare statutory accounts that give a

true and fair view of the assets, liabilities, financial position and profit of B & R Leisure Ltd. You consider that B & R Leisure Ltd

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 accounts of B & R Leisure Ltd. 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 accounts.

Hawkins Priday Ltd

Chartered Certified Accountants

5 Bridge Street

Hereford

HR4 9DF

21 March 2019