Braggott Homes Limited - Accounts to registrar (filleted) - small 18.2
Braggott Homes Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
BRAGGOTT HOMES LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED |
30 APRIL 2020 |
BRAGGOTT HOMES LIMITED (REGISTERED NUMBER: 02583870) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2020 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
BRAGGOTT HOMES LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 APRIL 2020 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
BRAGGOTT HOMES LIMITED (REGISTERED NUMBER: 02583870) |
ABRIDGED BALANCE SHEET |
30 APRIL 2020 |
2020 | 2019 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
Investment property | 6 |
CURRENT ASSETS |
Stocks |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Other reserves |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their 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. |
BRAGGOTT HOMES LIMITED (REGISTERED NUMBER: 02583870) |
ABRIDGED BALANCE SHEET - continued |
30 APRIL 2020 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
BRAGGOTT HOMES LIMITED (REGISTERED NUMBER: 02583870) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2020 |
1. | STATUTORY INFORMATION |
Braggott Homes Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Plant and machinery etc | - |
Government grants |
Grant income relating to revenue is recognised on an accruals basis. Income is recognised on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. A grant that becomes receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support with no future related costs is recognised in income in the period in which it becomes receivable. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Investment property |
Investment property is being written off over the period of the lease. The directors consider the open market value of investment property to be at least equal to the book amounts. |
Stocks |
Work in progress is valued at the lower of cost and net realisable value. |
Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. |
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. |
BRAGGOTT HOMES LIMITED (REGISTERED NUMBER: 02583870) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2020 |
2. | ACCOUNTING POLICIES - continued |
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. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 May 2019 |
and 30 April 2020 |
DEPRECIATION |
At 1 May 2019 |
Charge for year |
At 30 April 2020 |
NET BOOK VALUE |
At 30 April 2020 |
At 30 April 2019 |
BRAGGOTT HOMES LIMITED (REGISTERED NUMBER: 02583870) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2020 |
5. | FIXED ASSET INVESTMENTS |
Information on investments other than loans is as follows: |
Totals |
£ |
COST |
At 1 May 2019 |
and 30 April 2020 | 100 |
NET BOOK VALUE |
At 30 April 2020 | 100 |
At 30 April 2019 | 100 |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 May 2019 |
and 30 April 2020 |
DEPRECIATION |
At 1 May 2019 | 25,500 |
Charge for year | 3,000 |
At 30 April 2020 | 28,500 |
NET BOOK VALUE |
At 30 April 2020 |
At 30 April 2019 |
7. | RELATED PARTY DISCLOSURES |
At the balance sheet date the company owed the Director, W Bramhald, £7,209 (2019: £15,247). This loan is interest free and has no formal repayment terms. |
8. | POST BALANCE SHEET EVENTS |
On 30th January 2020 the World Health Organization declared the outbreak of coronavirus ("COVID-19") to be a public health emergency. This pandemic has severely restricted the level of worldwide economic activity. |
The effects of the coronavirus pandemic continue to have a significant impact on the Company's trade after the balance sheet date, both directly and indirectly through the effect on the wider UK economy. |
The Company has taken advantage of the significant financial support offered by HM Government and along with the support of its principal creditors is confident the Company continues to be a going concern. |
The Company continues to monitor developments closely and adjust its plans accordingly. |
BRAGGOTT HOMES LIMITED (REGISTERED NUMBER: 02583870) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2020 |
9. | GOVERNMENT ASSISTANCE |
During the year the company has received grant income under HM Government Coronavirus Job Retention Scheme totalling £14,886. |
No grant income was received in 2019. Amounts recognised are included in Other Income. |