Budby Antiques Limited - Accounts to registrar (filleted) - small 18.2

Budby Antiques Limited - Accounts to registrar (filleted) - small 18.2


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REGISTERED NUMBER: 10179845 (England and Wales)

















Unaudited Financial Statements for the Year Ended 31 May 2019

for

Budby Antiques Limited

Budby Antiques Limited (Registered number: 10179845)






Contents of the Financial Statements
for the Year Ended 31 May 2019




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Budby Antiques Limited

Company Information
for the Year Ended 31 May 2019







DIRECTOR: Miss J Tolley





SECRETARY: Miss J Tolley





REGISTERED OFFICE: Apleyhead Lodge North
Clumber Park
Worksop
Nottinghamshire
S80 3NU





REGISTERED NUMBER: 10179845 (England and Wales)





ACCOUNTANTS: SMH Andertons Liversidge Ltd
12-14 Percy Street
Rotherham
South Yorkshire
S65 1ED

Budby Antiques Limited (Registered number: 10179845)

Balance Sheet
31 May 2019

2019 2018
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 53,648 61,312
Tangible assets 5 2,431 6,658
56,079 67,970

CURRENT ASSETS
Debtors 6 655 -
Cash at bank 4,304 6,476
4,959 6,476
CREDITORS
Amounts falling due within one year 7 137,192 62,193
NET CURRENT LIABILITIES (132,233 ) (55,717 )
TOTAL ASSETS LESS CURRENT LIABILITIES (76,154 ) 12,253

CREDITORS
Amounts falling due after more than one
year

8

-

63,395
NET LIABILITIES (76,154 ) (51,142 )

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings (76,254 ) (51,242 )
SHAREHOLDERS' FUNDS (76,154 ) (51,142 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

Budby Antiques Limited (Registered number: 10179845)

Balance Sheet - continued
31 May 2019


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 28 February 2020 and were signed by:





Miss J Tolley - Director


Budby Antiques Limited (Registered number: 10179845)

Notes to the Financial Statements
for the Year Ended 31 May 2019

1. STATUTORY INFORMATION

Budby Antiques Limited 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. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. 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, excluding discounts,
rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost
less any accumulated amortisation and any accumulated impairment losses.

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% on cost

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 balance sheet date.

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

Budby Antiques Limited (Registered number: 10179845)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2019

2. ACCOUNTING POLICIES - continued

Going concern
These accounts have been prepared on the going concern basis, on the understanding that the directors and
shareholders will continue to financially support the company during this uncertain period.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2018 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£
COST
At 1 June 2018
and 31 May 2019 76,640
AMORTISATION
At 1 June 2018 15,328
Charge for year 7,664
At 31 May 2019 22,992
NET BOOK VALUE
At 31 May 2019 53,648
At 31 May 2018 61,312

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£
COST
At 1 June 2018 14,123
Additions 724
At 31 May 2019 14,847
DEPRECIATION
At 1 June 2018 7,465
Charge for year 4,951
At 31 May 2019 12,416
NET BOOK VALUE
At 31 May 2019 2,431
At 31 May 2018 6,658

Budby Antiques Limited (Registered number: 10179845)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2019

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£ £
Other debtors 655 -

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£ £
Bank loans and overdrafts - 6,910
Taxation and social security - 60
Other creditors 137,192 55,223
137,192 62,193

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2019 2018
£ £
Bank loans - 63,395

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 35,754

9. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2019 2018
value: £ £
100 Ordinary 1 100 100