ACCOUNTS - Final Accounts

Share capital

Shares classified as equity

BISHOPSCOURT GROUP SERVICES LIMITED - Company Information

Caseware UK (AP4) 2016.0.181 2016.0.181 2018-03-312018-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truetrueInvestment companyfalse2017-04-01Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost. Investments in non-convertible preference shares and in non-puttable ordinary and preference shares are measured: at fair value with changes recognised in the Profit and Loss Account if the shares are publicly traded or their fair value can otherwise be measured reliably; at cost less impairment for all other investments. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account. For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date. Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. 01886906 2017-04-01 2018-03-31 01886906 2016-04-01 2017-03-31 01886906 2018-03-31 01886906 2017-03-31 01886906 2016-04-01 01886906 c:Director1 2017-04-01 2018-03-31 01886906 d:FreeholdInvestmentProperty 2018-03-31 01886906 d:FreeholdInvestmentProperty 2017-03-31 01886906 d:Non-currentFinancialInstruments d:UnlistedNon-exchangeTraded 2018-03-31 01886906 d:Non-currentFinancialInstruments d:UnlistedNon-exchangeTraded 2017-03-31 01886906 d:CurrentFinancialInstruments 2018-03-31 01886906 d:CurrentFinancialInstruments 2017-03-31 01886906 d:Non-currentFinancialInstruments 2018-03-31 01886906 d:Non-currentFinancialInstruments 2017-03-31 01886906 d:CurrentFinancialInstruments d:WithinOneYear 2018-03-31 01886906 d:CurrentFinancialInstruments d:WithinOneYear 2017-03-31 01886906 d:ShareCapital 2018-03-31 01886906 d:ShareCapital 2017-03-31 01886906 d:ShareCapital 2016-04-01 01886906 d:RevaluationReserve 2016-04-01 2017-03-31 01886906 d:RevaluationReserve 2016-04-01 01886906 d:RetainedEarningsAccumulatedLosses 2017-04-01 2018-03-31 01886906 d:RetainedEarningsAccumulatedLosses 2018-03-31 01886906 d:RetainedEarningsAccumulatedLosses 2016-04-01 2017-03-31 01886906 d:RetainedEarningsAccumulatedLosses 2017-03-31 01886906 d:RetainedEarningsAccumulatedLosses 2016-04-01 01886906 c:OrdinaryShareClass1 2017-04-01 2018-03-31 01886906 c:OrdinaryShareClass1 2018-03-31 01886906 c:FRS102 2017-04-01 2018-03-31 01886906 c:AuditExempt-NoAccountantsReport 2017-04-01 2018-03-31 01886906 c:FullAccounts 2017-04-01 2018-03-31 01886906 c:PrivateLimitedCompanyLtd 2017-04-01 2018-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 01886906

BISHOPSCOURT GROUP SERVICES LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2018

BISHOPSCOURT GROUP SERVICES LIMITED

REGISTERED NUMBER: 01886906

BALANCE SHEET

AS AT 31 MARCH 2018

		2018		2017
Note		£		£

Fixed assets
Investments	5		1,297,498		882,684
Investment property	6		2,000		2,000
			1,299,498		884,684
Current assets
Debtors: amounts falling due after more than one year	7	116,843		-
Debtors: amounts falling due within one year	7	830,946		205,576
Cash at bank and in hand	8	353,825		401,086
		1,301,614		606,662
Creditors: amounts falling due within one year	9	(1,834,412)		(779,658)
Net current liabilities			(532,798)		(172,996)
Total assets less current liabilities			766,700		711,688

Net assets			766,700		711,688

Capital and reserves
Called up share capital	10	119,850	119,850
Profit and loss account	11	646,850	591,838
		766,700	711,688

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

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BISHOPSCOURT GROUP SERVICES LIMITED

REGISTERED NUMBER: 01886906

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2018

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

M. W. Rutherford

Director

Date: 24 December 2018

The notes on pages 4 to 9 form part of these financial statements.

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BISHOPSCOURT GROUP SERVICES LIMITED

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 MARCH 2018

	Called up share capital	Profit and loss account	Total equity
	£	£	£
At 1 April 2017	119,850	591,838	711,688
Comprehensive income for the year
Profit for the year	-	55,012	55,012
Total comprehensive income for the year	-	55,012	55,012
Transfer to/from profit and loss account	-	-	-
At 31 March 2018	119,850	646,850	766,700

The notes on pages 4 to 9 form part of these financial statements.

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 MARCH 2017

	Called up share capital	Other reserve	Profit and loss account	Total equity
	£	£	£	£
At 1 April 2016	119,850	354,961	(38,579)	436,232
Comprehensive income for the year
Profit for the year	-	-	275,456	275,456
Unrealised surplus on revaluation of investment property	-	-	-	-
Deferred tax movements	-	-	-	-
Total comprehensive income for the year	-	-	275,456	275,456
Transfer to/from profit and loss account	-	(354,961)	354,961	-
At 31 March 2017	119,850	-	591,838	711,688

The notes on pages 4 to 9 form part of these financial statements.

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BISHOPSCOURT GROUP SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

1.	General information

The company is a private company limited by shares and is incorporated in England. The address of its registered office and principal trading address is 1 Redwing Court, Ashton Road, Romford, Essex, RM3 8QQ.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Associates

Associates are held at cost less impairment.

2.3

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Profit and Loss Account.

2.4

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Profit and Loss Account for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

2.5

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.7

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash

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BISHOPSCOURT GROUP SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

2.Accounting policies (continued)

2.7

Financial instruments (continued)

flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Investments in non-convertible preference shares and in non-puttable ordinary and preference shares are measured:

∙at fair value with changes recognised in the Profit and Loss Account if the shares are publicly traded or their fair value can otherwise be measured reliably;

∙at cost less impairment for all other investments.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

2.8

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

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BISHOPSCOURT GROUP SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

2.Accounting policies (continued)

2.9

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Profit and Loss Account except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and Loss Account within 'finance income or costs'. All other foreign exchange gains and losses are presented in the Profit and Loss Account within 'other operating income'.

2.10

Finance costs

Finance costs are charged to the Profit and Loss Account over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.11

Interest income

Interest income is recognised in the Profit and Loss Account using the effective interest method.

2.12

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

3.	Employees
	Staff costs were as follows:

The average monthly number of employees, including directors, during the year was 3 (2017 - 3).

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BISHOPSCOURT GROUP SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

Taxation

The company has estimated losses of £1,697,961 (2017: £1,696,810) avaiable to carry forward against future trading profits.
On the basis of these financial statements no provision for corporation tax has been made.

5.	Fixed asset investments

	Investments in subsidiary companies	Investments in associates	Unlisted investments	Loans to associates	Total
	£	£	£	£	£
Cost or valuation
At 1 April 2017	-	230,030	859,032	132,907	1,221,969
Additions	108	1,173,746	100,000	-	1,273,854
Disposals	-	-	(859,032)	-	(859,032)
At 31 March 2018	108	1,403,776	100,000	132,907	1,636,791
Impairment
At 1 April 2017	-	230,000	-	109,285	339,285
Charge for the period	8	-	-	-	8
At 31 March 2018	8	230,000	-	109,285	339,293
Net book value
At 31 March 2018	100	1,173,776	100,000	23,622	1,297,498
At 31 March 2017	-	30	859,032	23,622	882,684

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BISHOPSCOURT GROUP SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

6.	Investment property

		Freehold investment property
		£
	Valuation
	At 1 April 2017	2,000
	At 31 March 2018	2,000

The 2018 valuations were made by directors, on an open market value for existing use basis.

If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:
	2018	2017
	£	£

Historic cost

2,000

7.	Debtors
		2018	2017
		£	£

Due after more than one year
Other debtors	116,843	-

					2018	2017
					£	£

Due within one year
Other debtors	829,127	202,249
Prepayments and accrued income	1,819	3,327
	830,946	205,576

8.	Cash and cash equivalents
		2018	2017
		£	£

Cash at bank and in hand	353,825	401,086
	353,825	401,086

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BISHOPSCOURT GROUP SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

9.	Creditors: Amounts falling due within one year
		2018	2017
		£	£

Other creditors	1,080,576	-
Accruals and deferred income	753,836	779,658
	1,834,412	779,658

At the balance date, balance of accruals included provision of £750,527 (2017: £775,158) accrued interests on directors loan. The accrued interests were repayable on demand.

Authorised, allotted, called up and fully paid

119,850 Ordinary shares of £1 each	119,850	119,850

11.

Reserves

Other reserves

Other reserves comprise the accumulated revaluation gains resulting from the valuation of investment property to fair value, which is not distributable.

Profit and loss account

The profit and loss account comprises accumulated profit and loss incurred by the company since incorporation.

12.	Contingent liabilities

Together with its connected companies, the company has given a cross guarantee which is secured on a fixed and a floating charge over the assets of the companies.

13.	Related party transactions
	Included in other debtors is an amount of £917,128 (2017: £202,249) owed by the connected companies in which the Company's directors are also directors and shareholders. At the balance sheet date, the Company owed £1,078,256 (2017: £NIL) to its directors.

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