BPS (Stumps Cross) Limited - Period Ending 2017-03-31
BPS (Stumps Cross) Limited - Period Ending 2017-03-31
Registration number:
BPS (Stumps Cross) Limited
for the Year Ended 31 March 2017
BPS (Stumps Cross) Limited
Contents
Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
BPS (Stumps Cross) Limited
(Registration number: 05857075)
Balance Sheet as at 31 March 2017
Note |
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2017 |
2017 |
(As restated) |
(As restated) |
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Fixed assets |
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Investment property |
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Current assets |
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Debtors |
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- |
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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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( |
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Net current liabilities |
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( |
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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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Provisions for liabilities |
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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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Other reserves |
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Profit and loss account |
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Total equity |
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Page 1 |
BPS (Stumps Cross) Limited
(Registration number: 05857075)
Balance Sheet as at 31 March 2017
For the financial year ending 31 March 2017 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
.........................................
A R Boyce
Director
Page 2 |
BPS (Stumps Cross) Limited
Statement of Changes in Equity for the Year Ended 31 March 2017
Share capital |
Non-distributable reserve |
Profit and loss account |
Total |
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At 1 April 2016 |
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Profit for the year |
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- |
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Other comprehensive income |
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( |
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Total comprehensive income |
- |
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At 31 March 2017 |
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Share capital |
Non-distributable reserve |
Profit and loss account |
Total |
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At 1 April 2015 |
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Profit for the year |
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- |
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Total comprehensive income |
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- |
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At 31 March 2016 |
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Page 3 |
BPS (Stumps Cross) Limited
Notes to the Financial Statements for the Year Ended 31 March 2017
General information |
The company is a private company limited by share capital incorporated in England.
The address of its registered office is:
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.
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.
Page 4 |
BPS (Stumps Cross) Limited
Notes to the Financial Statements for the Year Ended 31 March 2017
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.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
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.
Page 5 |
BPS (Stumps Cross) Limited
Notes to the Financial Statements for the Year Ended 31 March 2017
Investment properties |
2017 |
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At 1 April 16 |
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At 31 March 17 |
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The investment property was revalued on 29 April 2013 by JA Stiff MRICS FAAV of Smiths Gore. The basis of this valuation was freehold with vacant possession. The directors consider that the current fair value of the investment property is not materially different from the 2013 valuation of £375,000. The historic cost of the property is £204,892 (2016: £204,892).
Debtors |
2017 |
2016 |
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Trade debtors |
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- |
Total current trade and other debtors |
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- |
Creditors |
Note |
2017 |
2016 |
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Due within one year |
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Bank loans and overdrafts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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Due after one year |
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Loans and borrowings |
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2017 |
2016 |
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After more than five years by instalments |
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21,143 |
36,244 |
Loans and borrowings |
2017 |
2016 |
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Non-current loans and borrowings |
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Bank borrowings |
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Page 6 |
BPS (Stumps Cross) Limited
Notes to the Financial Statements for the Year Ended 31 March 2017
2017 |
2016 |
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Current loans and borrowings |
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Bank borrowings |
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Bank borrowings
The bank loans are secured against the property with interest charged at 3% above base. |
Included in the loans and borrowings are the following amounts due after more than five years:
Borrowings due after five years
The bank loan due after 5 years by instalments totalled £21,143 (2016: £36,244) and had interest charged at 3% above base.
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