Bollingwood Limited - Period Ending 2020-03-31
Bollingwood Limited - Period Ending 2020-03-31
Year Ended
Registration number:
Bollingwood Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Bollingwood Limited
Company Information
Directors |
D L J Wells S J Wells |
Company secretary |
S J Wells |
Registered office |
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Accountants |
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Bollingwood Limited
Balance Sheet
31 March 2020
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2020 |
2019 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Investment property |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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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 |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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Bollingwood Limited
Balance Sheet
31 March 2020
For the financial year ending 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Company Registration Number: 05080509
Bollingwood Limited
Notes to the Unaudited Financial Statements
Year Ended 31 March 2020
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
The principal place of business is:
25a St Clements Road
Bournemouth
Dorset
BH1 4DU
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statements are presented in Sterling (£).
Going concern
The financial statements have been prepared on a going concern basis as the company has the continued support of its directors.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the renting of properties in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts within the company.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Bollingwood Limited
Notes to the Unaudited Financial Statements
Year Ended 31 March 2020
Tax
Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Plant and machinery |
25% reducing balance basis |
Office equipment |
25% reducing balance basis |
Investment property
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Asset class |
Amortisation method and rate |
Registration numbers |
10% straight line basis |
Bollingwood Limited
Notes to the Unaudited Financial Statements
Year Ended 31 March 2020
Financial instruments
Classification
• Short term other debtors and trade and other creditors;
• Bank loans; and
• Cash and bank balances.
All financial instruments are classified as basic.
Recognition and measurement
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.
Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.
Bank loans are initially measured at transaction price, including transaction costs.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Bollingwood Limited
Notes to the Unaudited Financial Statements
Year Ended 31 March 2020
Intangible assets |
Registration numbers |
Total |
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Cost or valuation |
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At 1 April 2019 |
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At 31 March 2020 |
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Amortisation |
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At 1 April 2019 |
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Amortisation charge |
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At 31 March 2020 |
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Carrying amount |
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At 31 March 2020 |
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At 31 March 2019 |
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Tangible assets |
Furniture, fittings and equipment |
Other property, plant and equipment |
Total |
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Cost or valuation |
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At 1 April 2019 |
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At 31 March 2020 |
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Depreciation |
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At 1 April 2019 |
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Charge for the year |
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At 31 March 2020 |
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Carrying amount |
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At 31 March 2020 |
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At 31 March 2019 |
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Bollingwood Limited
Notes to the Unaudited Financial Statements
Year Ended 31 March 2020
Investment properties |
2020 |
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At 1 April |
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At 31 March |
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The directors have valued the properties at 31 March 2020 at £4,500,000, having taken informal independent advice.
There has been no valuation of investment property by an independent valuer.
Debtors |
2020 |
2019 |
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Other debtors |
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Prepayments |
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Creditors |
Creditors: amounts falling due within one year
Note |
2020 |
2019 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Corporation tax |
51,152 |
53,727 |
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Social security and other taxes |
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Other creditors |
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Accrued expenses |
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Bollingwood Limited
Notes to the Unaudited Financial Statements
Year Ended 31 March 2020
Creditors: amounts falling due after more than one year
Note |
2020 |
2019 |
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Due after one year |
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Loans and borrowings |
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2020 |
2019 |
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Due after more than five years |
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After more than five years by instalments |
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Loans and borrowings |
Creditors amounts falling due after more than one year includes the following liabilities, on which security has been given by the company:
2020 |
2019 |
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Loans and borrowings due after one year |
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Bank borrowings |
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Creditors amounts falling due within one year includes the following liabilities, on which security has been given by the company:
2020 |
2019 |
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Current loans and borrowings |
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Bank borrowings |
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Bank overdrafts |
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Reserves |
Included in the profit and loss reserve is £648,742 (2019 - £648,742) of revaluation gains on investment property.
Bollingwood Limited
Notes to the Unaudited Financial Statements
Year Ended 31 March 2020
Related party transactions |
Summary of transactions with other related parties
The company charged rent of £285,000 (2019 - £261,650) to Calendula Services Ltd, a company controlled by D L J Wells and S J Wells is the company's director.
At the balance sheet date, the amount due to Calendula Services Ltd was £517,541 (2019 - £691,797)