Boric Real Estate Limited - Accounts to registrar (filleted) - small 18.2

Boric Real Estate Limited - Accounts to registrar (filleted) - small 18.2

BORIC REAL ESTATE LIMITED - Company Information

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REGISTERED NUMBER: 05342831 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2018

FOR

BORIC REAL ESTATE LIMITED
d&t
Chartered Accountants
Swatton Barn
Badbury
Swindon
Wiltshire
SN4 0EU








BORIC REAL ESTATE LIMITED (REGISTERED NUMBER: 05342831)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2018




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BORIC REAL ESTATE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2018







DIRECTORS: M A J Blick
M D Blick





SECRETARY: M D Blick





REGISTERED OFFICE: Swatton Barn
Badbury
Swindon
Wiltshire
SN4 0EU





REGISTERED NUMBER: 05342831 (England and Wales)





ACCOUNTANTS: d&t
Chartered Accountants
Swatton Barn
Badbury
Swindon
Wiltshire
SN4 0EU
Page 1
BORIC REAL ESTATE LIMITED (REGISTERED NUMBER: 05342831)

BALANCE SHEET
31 JANUARY 2018

2018 2017
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 - -
Investment property 4 850,000 850,000
850,000 850,000

CURRENT ASSETS
Debtors 5 1,834 760
Cash at bank 155 1,020
1,989 1,780
CREDITORS
Amounts falling due within one year 6 149,484 173,263
NET CURRENT LIABILITIES (147,495 ) (171,483 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
702,505
678,517

CREDITORS
Amounts falling due after more than one
year
7
(439,845
)
(439,934
)

PROVISIONS FOR LIABILITIES - (37,768 )
NET ASSETS 262,660 200,815

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 9 262,650 200,805
SHAREHOLDERS' FUNDS 262,660 200,815

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2018 in accordance with Section 476 of the Companies Act 2006.

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 notes form part of these financial statements

Page 2 continued...
BORIC REAL ESTATE LIMITED (REGISTERED NUMBER: 05342831)

BALANCE SHEET - continued
31 JANUARY 2018


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 31 October 2018 and were signed on
its behalf by:




M A J Blick - Director



M D Blick - Director


The notes form part of these financial statements

Page 3
BORIC REAL ESTATE LIMITED (REGISTERED NUMBER: 05342831)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2018

1. STATUTORY INFORMATION

Boric Real Estate Limited is a private company, limited by shares , registered in England and Wales.
The company's registered number and registered office address can be found on the Company
Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding
discounts, rebates, value added tax and other sales taxes.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% straight line basis

INVESTMENT PROPERTY
The company's investment properties are held for long-term investment. Investment properties are
accounted for in accordance with SSAP 19, as follows:

(i) investment properties are revalued annually. The surplus or deficit on revaluation is transferred to
the revaluation reserve unless a deficit below original cost, or its reversal, on an individual investment
property is expected to be permanent, in which case it is recognised in the profit and loss account for
the year; and

(ii) no depreciation is provided in respect of leasehold investment properties where the lease has
over 20 years to run.

Although the Companies Act would normally require the systematic annual depreciation of fixed
assets, the directors believe that the policy of not providing depreciation is necessary in order for the
accounts to give a true and fair view, since the current value of investment properties, and changes to
that current value, are of prime importance rather than a calculation of systematic annual
depreciation. Depreciation is only one of the many factors reflected in the annual valuation, and the
amount which might otherwise have been included cannot be separately identified or quantified.

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.


Page 4 continued...
BORIC REAL ESTATE LIMITED (REGISTERED NUMBER: 05342831)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2018

2. ACCOUNTING POLICIES - continued
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. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2017
and 31 January 2018 229
DEPRECIATION
At 1 February 2017
and 31 January 2018 229
NET BOOK VALUE
At 31 January 2018 -

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2017
and 31 January 2018 850,000
NET BOOK VALUE
At 31 January 2018 850,000
At 31 January 2017 850,000

Fair value at 31 January 2018 is represented by:

£   
Valuation in 2010 39,155
Valuation in 2017 125,000
Cost 685,845
850,000

Page 5 continued...
BORIC REAL ESTATE LIMITED (REGISTERED NUMBER: 05342831)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2018

4. INVESTMENT PROPERTY - continued

If investment property had not been revalued it would have been included at the following historical
cost:

2018 2017
£    £   
Cost 685,845 685,845

Investment property was valued on an open market basis on 31 January 2017 by the Director of the Company
.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Other debtors 1,834 760

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Taxation and social security 5,707 4,370
Other creditors 143,777 168,893
149,484 173,263

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2018 2017
£    £   
Bank loans 439,845 439,934

Amounts falling due in more than five years:

Repayable by instalments
Bank loans 439,845 439,934

8. SECURED DEBTS

The following secured debts are included within creditors:

2018 2017
£    £   
Bank loans 439,845 439,934

Page 6 continued...
BORIC REAL ESTATE LIMITED (REGISTERED NUMBER: 05342831)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2018

9. RESERVES
Retained
earnings
£   

At 1 February 2017 200,805
Profit for the year 61,845
At 31 January 2018 262,650

10. RELATED PARTY DISCLOSURES

Unless otherwise disclosed, all related party transactions have been conducted under normal market
conditions.

Page 7