Butcher Curnow & Company Limited - Period Ending 2020-03-31
Butcher Curnow & Company Limited - Period Ending 2020-03-31
Registration number:
Butcher Curnow & Company Limited
for the Year Ended 31 March 2020
Butcher Curnow & Company Limited
Contents
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Company Information |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Unaudited Financial Statements |
Butcher Curnow & Company Limited
Company Information
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Directors |
Mr MPF Nardini Miss DP Burford Mr R A Burford |
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Company secretary |
Mr MPF Nardini |
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Registered office |
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Accountants |
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Butcher Curnow & Company Limited
(Registration number: 00080437)
Balance Sheet as at 31 March 2020
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Note |
2020 |
2019 |
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Fixed 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)/assets |
( |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
15,000 |
15,000 |
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Revaluation reserve |
2,151,826 |
1,884,108 |
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Profit and loss account |
70,257 |
105,835 |
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Shareholders' funds |
2,237,083 |
2,004,943 |
Butcher Curnow & Company Limited
(Registration number: 00080437)
Balance Sheet as at 31 March 2020 (continued)
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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Butcher Curnow & Company Limited
Statement of Changes in Equity for the Year Ended 31 March 2020
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Share capital |
Revaluation reserve |
Profit and loss account |
Total |
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At 1 April 2019 |
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Profit for the year |
- |
- |
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Total comprehensive income |
- |
- |
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Transfer of investment property revaluation (net of deferred tax) |
- |
267,718 |
(267,718) |
- |
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At 31 March 2020 |
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Share capital |
Revaluation reserve |
Profit and loss account |
Total |
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At 1 April 2018 |
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Loss for the year |
- |
- |
( |
( |
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Total comprehensive income |
- |
- |
( |
( |
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At 31 March 2019 |
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Butcher Curnow & Company Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2020
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
United Kingdom
The principal place of business is:
33-35 Tranquil Vale
Blackheath
London
SE10 0BU
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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.
Revenue recognition
Turnover comprises the fair value of the consideration receivable from rents and contributions by tenants in the ordinary course of the company’s activities.
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.
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.
Butcher Curnow & Company Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2020 (continued)
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2 |
Accounting policies (continued) |
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.
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:
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Asset class |
Depreciation method and rate |
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Office equipment |
20% straight line. |
Investment property
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Butcher Curnow & Company Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2020 (continued)
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2 |
Accounting policies (continued) |
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Butcher Curnow & Company Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2020 (continued)
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Tangible assets |
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Office 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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Investment properties |
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2020 |
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At 1 April |
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Additions |
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Fair value adjustments |
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At 31 March |
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The valuation of investment property was undertaken by the directors based on market based evidence.
Butcher Curnow & Company Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2020 (continued)
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Debtors |
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2020 |
2019 |
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Prepayments |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
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Note |
2020 |
2019 |
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Due within one year |
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Trade creditors |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Accruals and deferred income |
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Share capital |
Allotted, called up and fully paid shares
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2020 |
2019 |
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No. |
£ |
No. |
£ |
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15,000 |
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15,000 |
Butcher Curnow & Company Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2020 (continued)
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Related party transactions |
Summary of transactions with parent
Summary of transactions with other related parties
Loans to related parties
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2020 |
Other related parties |
Total |
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At start of period |
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Repaid |
( |
( |
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At end of period |
- |
- |
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2019 |
Other related parties |
Total |
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Advanced |
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At end of period |
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Loans from related parties
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2020 |
Parent |
Other related parties |
Total |
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At start of period |
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- |
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Advanced |
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Repaid |
( |
- |
( |
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At end of period |
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2019 |
Parent |
Total |
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Advanced |
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At end of period |
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Butcher Curnow & Company Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2020 (continued)
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Parent and ultimate parent undertaking |
The company's immediate parent is
The ultimate parent is
The most senior parent entity producing publicly available financial statements is
The ultimate controlling party is