T W Betts Services Limited - Accounts to registrar (filleted) - small 17.3
T W Betts Services Limited - Accounts to registrar (filleted) - small 17.3
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 August 2017 |
for |
T W Betts Services Limited |
T W Betts Services Limited (Registered number: 03238934) |
Contents of the Financial Statements |
for the Year Ended 31 August 2017 |
Page |
Balance Sheet | 1 |
Notes to the Financial Statements | 3 |
T W Betts Services Limited (Registered number: 03238934) |
Balance Sheet |
31 August 2017 |
2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Fair value reserve | 9 |
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. |
T W Betts Services Limited (Registered number: 03238934) |
Balance Sheet - continued |
31 August 2017 |
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
The financial statements were approved by the Board of Directors on by: |
T W Betts Services Limited (Registered number: 03238934) |
Notes to the Financial Statements |
for the Year Ended 31 August 2017 |
1. | STATUTORY INFORMATION |
T W Betts Services Limited is a private company, limited by shares, registered in England and Wales. |
The company's registered number is 03238934 and registered office address is Treviot House, 186-192 High |
Road, Ilford, IG1 1LR. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" |
of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of |
Ireland" and the Companies Act 2006. |
Turnover |
Turnover represents the total rent and insurance receivable during the year. |
Investment property |
Investment property is included at fair value. Gains are recognised in the profit and loss account. Deferred |
taxation is provided on these gains at the rate expected to apply when the property is sold. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, |
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. |
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. |
Going concern |
The balance sheet recorded net current liabilities at the year end. However, the directors believe that sufficient |
finance is available to the business to enable it to continue trading into the foreseeable future. Therefore, the |
financial statements have been prepared on a going concern basis. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
T W Betts Services Limited (Registered number: 03238934) |
Notes to the Financial Statements - continued |
for the Year Ended 31 August 2017 |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 September 2016 |
Revaluations | 300,000 |
At 31 August 2017 |
NET BOOK VALUE |
At 31 August 2017 |
At 31 August 2016 |
Fair value at 31 August 2017 is represented by: |
£ |
Valuation in 2015 | 621,029 |
Valuation in 2017 | 300,000 |
Cost | 578,971 |
1,500,000 |
The investment property was valued on a fair value basis on 31 August 2017 by the directors . |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2017 | 2016 |
£ | £ |
Bank loans |
Other creditors |
T W Betts Services Limited (Registered number: 03238934) |
Notes to the Financial Statements - continued |
for the Year Ended 31 August 2017 |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
2017 | 2016 |
£ | £ |
Bank loans |
The company's bank borrowings are secured against the value of the company's Investment properties. |
9. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 September 2016 |
Transfer | 252,706 |
At 31 August 2017 |