BINGLETON_LIMITED - Accounts

BINGLETON LTD - Company Information

Print Friendly Version

Company Registration No. 07432749 (England and Wales)

BINGLETON LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2015

BINGLETON LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 5

BINGLETON LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 DECEMBER 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

32,793

38,581

Investments

319,459

352,252

358,040

Current assets

Debtors

119,319

196,569

Cash at bank and in hand

5,432

231

124,751

196,800

Creditors: amounts falling due within one year

(45,960)

(39,842)

Net current assets

78,791

156,958

Total assets less current liabilities

431,043

514,998

Creditors: amounts falling due after more than one year

(120,453)

(147,453)

Provisions for liabilities

(556)

(1,002)

310,034

366,543

Capital and reserves

Called up share capital

425

Other reserves

175

Profit and loss account

309,434

365,943

Shareholders' funds

310,034

366,543

BINGLETON LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 DECEMBER 2015

- 2 -

For the financial year ended 31 December 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 4 May 2016

I S Lloyd

J S Kenyon

Director

B E Snowden

Director

Company Registration No. 07432749

BINGLETON LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2015

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

The directors are not aware of any material uncertainties affecting the company and consider that the company will have sufficient resources to continue trading for the foreseeable future. As a result the directors have continued to adopt the going concern basis in preparing the financial statements.

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for management charges net of VAT.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Fixtures, fittings & equipment

15% reducing balance

Motor vehicles

25% reducing balance

1.5

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

1.6

Group accounts

The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.

BINGLETON LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2015

- 4 -

Fixed assets

Tangible assets

Investments

Total

Cost

At 1 January 2015 & at 31 December 2015

70,443

319,459

389,902

Depreciation

At 1 January 2015

31,862

Charge for the year

5,788

At 31 December 2015

37,650

Net book value

At 31 December 2015

32,793

319,459

352,252

At 31 December 2014

38,581

319,459

358,040

Holdings of more than 20%

The company holds more than 20% of the share capital of the following companies:

Company

Country of registration or

Shares held

incorporation

Class

Subsidiary undertakings

Mortimers Estate Agents Limited

England

Ordinary

100.00

The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:

Capital and reserves

Profit/(loss) for the year

2015

Principal activity

Mortimers Estate Agents Limited

Estate agents and chartered surveyors

422,135

74,641

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £24,000 (2014 - £24,000).

Creditors: amounts falling due after more than one year

The aggregate amount of creditors for which security has been given amounted to £120,453 (2014 - £147,453).

BINGLETON LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2015

- 5 -

Share capital

2015

2014

Allotted, called up and fully paid

200 Founder shares of £1 each

200

225 Participating shares of £1 each

225

425

Related party relationships and transactions

Advances and credits to directors

Advances and credits granted to the directors during the year are outlined in the table below:

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

I S Lloyd - Director's loan

22,551

45,616

41,483

26,684

J S Kenyon - Director's loan

34,764

47,210

42,246

39,728

B E Snowden - Director's loan

23,705

47,000

42,798

27,907

81,020

139,826

126,527

94,319

The maximum amounts that the directors' loan accounts were overdrawn during the course of the period were as follows:-

I S Lloyd £33,495

J S Kenyon £51,216

B E Snowden £33,466