Company Registration No. 03500485 (England and Wales)
BESSON LINE LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2016
BESSON LINE LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 4
BESSON LINE LIMITED
ABBREVIATED BALANCE SHEET
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
51,492
1,387
Investments
2
293,596
1,130,790
345,088
1,132,177
Current assets
Debtors
174,179
569,035
Cash at bank and in hand
1,064,371
290,188
1,238,550
859,223
Creditors: amounts falling due within one year
3
(761,674)
(1,711,975)
Net current assets/(liabilities)
476,876
(852,752)
Total assets less current liabilities
821,964
279,425
Creditors: amounts falling due after more than one year
4
(250,000)
(328,071)
571,964
(48,646)
Capital and reserves
Called up share capital
5
100
100
Profit and loss account
571,864
(48,746)
Shareholders' funds
571,964
(48,646)
For the financial year ended 30 June 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 28 March 2017
D F Pinto
Director
Company Registration No. 03500485
BESSON LINE LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 JUNE 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Fixtures, fittings & equipment
3 years straight line
No depreciation is provided in respect of freehold land.
1.5
Investments
Fixed asset investments are stated at cost less provision for diminution in value.
BESSON LINE LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2016
- 3 -
2
Fixed assets
Tangible assets
Investments
Total
£
£
£
Cost
At 1 July 2015
2,098
1,130,790
1,132,888
Additions
50,930
344,063
394,993
Disposals
-
(1,181,257)
(1,181,257)
At 30 June 2016
53,028
293,596
346,624
Depreciation
At 1 July 2015
711
-
711
Charge for the year
825
-
825
At 30 June 2016
1,536
-
1,536
Net book value
At 30 June 2016
51,492
293,596
345,088
At 30 June 2015
1,387
1,130,790
1,132,177
The unlisted investment represents a 50% share in a property in which Camberley Estates Limited has an equitable interest.
During the year the flats in the second property were sold and the residual cost of the freehold reallocated to tangible fixed assets.
3
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £0 (2015 - £6,666).
The bank mortgage loan was secured on the property in which Camberley Estates Limited has an equitable interest (see note 2).
The director has personally secured charges over the properties.
4
Creditors: amounts falling due after more than one year
The aggregate amount of creditors for which security has been given amounted to £0 (2015 - £78,071).
The bank mortgage loan was secured on the property in which Camberley Estates Limited has an equitable interest (see note 2).
The director has personally secured charges over the properties.
BESSON LINE LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2016
- 4 -
5
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary shares of £1 each
100
100
The 250,000 Non-redeemable preference shares of £1 each are shown within creditors due after more than one year.
6
Control
The overall controlling party is D F Pinto, director and shareholder.
7
Related party relationships and transactions
Loans to directors
Transactions in relation to loans with directors during the year are outlined in the table below:
Description
% Rate
Opening Balance
Amounts Advanced
Interest Charged
Amounts Repaid
Closing Balance
£
£
£
£
£
D F Pinto - Loan account
6.00
(1,662,996)
(322,972)
(114,494)
2,250,117
149,655
(1,662,996)
(322,972)
(114,494)
2,250,117
149,655
The maximum amount overdrawn during the year was £149,655.
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