Bruton Pearce Limited 31/08/2020 iXBRL

Bruton Pearce Limited 31/08/2020 iXBRL

BRUTON PEARCE LIMITED - Company Information

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Company registration number: 03622247
Bruton Pearce Limited
Unaudited filleted financial statements
31 August 2020
Bruton Pearce Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Bruton Pearce Limited
Directors and other information
Director Mr H Pearce
Secretary Mrs JR Pearce
Company number 03622247
Registered office 2 Liscombe West
Liscombe Park
Soulbury
Leighton Buzzard
LU7 0JL
Business address Dashwood
15 Halton Village
Aylesbury
Buckinghamshire
HP22 5NS
Accountants Hardcastle Blake
2 Liscombe West
Liscombe Park
Soulbury
Leighton Buzzard
LU7 0JL
Bruton Pearce Limited
Chartered accountants report to the director on the preparation of the
unaudited statutory financial statements of Bruton Pearce Limited
Year ended 31 August 2020
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Bruton Pearce Limited for the year ended 31 August 2020 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the director of Bruton Pearce Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Bruton Pearce Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Bruton Pearce Limited and its director as a body for our work or for this report.
It is your duty to ensure that Bruton Pearce Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Bruton Pearce Limited. You consider that Bruton Pearce Limited 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 financial statements of Bruton Pearce Limited. 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 financial statements.
Hardcastle Blake
ICAEW
2 Liscombe West
Liscombe Park
Soulbury
Leighton Buzzard
LU7 0JL
24 May 2021
Bruton Pearce Limited
Statement of financial position
31 August 2020
2020 2019
Note £ £ £ £
Current assets
Debtors 5 65,258 36,806
Investments 6 15,000 15,000
Cash at bank and in hand 162,247 93,729
_______ _______
242,505 145,535
Creditors: amounts falling due
within one year 7 ( 42,970) ( 11,110)
_______ _______
Net current assets 199,535 134,425
_______ _______
Total assets less current liabilities 199,535 134,425
_______ _______
Net assets 199,535 134,425
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 199,435 134,325
_______ _______
Shareholders funds 199,535 134,425
_______ _______
For the year ending 31 August 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 24 May 2021 , and are signed on behalf of the board by:
Mr H Pearce
Director
Company registration number: 03622247
Bruton Pearce Limited
Notes to the financial statements
Year ended 31 August 2020
1. General information
The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is Bruton Pearce Limited, 2 Liscombe West, Liscombe Park, Soulbury, Leighton Buzzard, LU7 0JL.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. The Triennial review 2017 amendments to the standard have been early adopted.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2019: 2 ).
5. Debtors
2020 2019
£ £
Trade debtors 28,500 -
Other debtors 36,758 36,806
_______ _______
65,258 36,806
_______ _______
6. Investments
2020 2019
£ £
Other investments 15,000 15,000
_______ _______
7. Creditors: amounts falling due within one year
2020 2019
£ £
Corporation tax 16,383 -
Social security and other taxes 15,347 -
Other creditors 11,240 11,110
_______ _______
42,970 11,110
_______ _______
8. Controlling party
The company is controlled by Mr and Mrs H M Pearce by virtue of their majority shareholding.