Burchett Services Limited - Limited company accounts 18.1d
Burchett Services Limited - Limited company accounts 18.1d
| REGISTERED NUMBER: |
| Report of the Directors and |
| Unaudited Financial Statements for the Year Ended 31 March 2018 |
| for |
| Burchett Services Limited |
| Burchett Services Limited (Registered number: 08891105) |
| Contents of the Financial Statements |
| for the Year Ended 31 March 2018 |
| Page |
| Company Information | 1 |
| Report of the Directors | 2 |
| Income Statement | 3 |
| Balance Sheet | 4 |
| Notes to the Financial Statements | 5 |
| Burchett Services Limited |
| Company Information |
| for the Year Ended 31 March 2018 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 6 Corfield Close |
| Finchampstead |
| Wokingham |
| Berkshire |
| Burchett Services Limited (Registered number: 08891105) |
| Report of the Directors |
| for the Year Ended 31 March 2018 |
| The directors present their report with the financial statements of the company for the year ended 31 March 2018. |
| PRINCIPAL ACTIVITY |
| The principal activity of the company in the year under review was that of residential property letting. |
| During the year the directors also continued to sell a children's story book. |
| DIRECTORS |
| The directors shown below have held office during the whole of the period from 1 April 2017 to the date |
| of this report. |
| This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 |
| relating to small companies. |
| ON BEHALF OF THE BOARD: |
| Burchett Services Limited (Registered number: 08891105) |
| Income Statement |
| for the Year Ended 31 March 2018 |
| 2018 | 2017 |
| Notes | £ | £ |
| TURNOVER |
| Administrative expenses |
| (3,030 | ) | (5,347 | ) |
| Other operating income |
| OPERATING PROFIT | 3 |
| Gain/loss on revaluation of investment property |
- |
42,500 |
| PROFIT BEFORE TAXATION |
| Tax on profit |
| PROFIT FOR THE FINANCIAL YEAR |
| Burchett Services Limited (Registered number: 08891105) |
| Balance Sheet |
| 31 March 2018 |
| 2018 | 2017 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Cash in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| 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. |
| The financial statements were approved by the Board of Directors on behalf by: |
| Burchett Services Limited (Registered number: 08891105) |
| Notes to the Financial Statements |
| for the Year Ended 31 March 2018 |
| 1. | STATUTORY INFORMATION |
| Burchett Services Limited is a |
| specified/Other. The company's registered number and registered office address can be found on |
| the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Tangible fixed assets |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising |
| from changes in fair value is recognised in profit or loss. |
| 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. |
| 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. |
| 3. | OPERATING PROFIT |
| The operating profit is stated after charging: |
| 2018 | 2017 |
| £ | £ |
| Depreciation - owned assets |
| Burchett Services Limited (Registered number: 08891105) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2018 |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 April 2017 |
| and 31 March 2018 |
| DEPRECIATION |
| At 1 April 2017 |
| Charge for year |
| At 31 March 2018 |
| NET BOOK VALUE |
| At 31 March 2018 |
| At 31 March 2017 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 April 2017 |
| and 31 March 2018 |
| NET BOOK VALUE |
| At 31 March 2018 |
| At 31 March 2017 |
| The properties were valued by the directors in 2017 based on the sales prices of similar properties |
| in the area. The valuation was not carried out by an independent professional valuer. |
| No deferred tax was provided on the gain in 2017 on this was corrected in 2018, by providing |
| deferred tax at the corporation tax rate of 17% x the timing difference due the valuation. |
| The combined increase in value of the two properties of £42500 less the deferred tax of £2358 is |
| not distributable but is included under Retained earnings. An amount of £40142 of Retained |
| earnings is therefore non distributable reserves. |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Taxation and social security |
| Other creditors |