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Unaudited Financial Statements for the Year Ended 31 December 2020 |
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Sherborne Cottage Building Company, Ltd |
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Unaudited Financial Statements for the Year Ended 31 December 2020 |
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for |
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Sherborne Cottage Building Company, Ltd |
Sherborne Cottage Building Company, Ltd (Registered number: 00030977) |
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Contents of the Financial Statements |
for the Year Ended 31 December 2020 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Sherborne Cottage Building Company, Ltd |
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Company Information |
for the Year Ended 31 December 2020 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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The Old Pump House |
Oborne Road |
Sherborne |
Dorset |
DT9 3RX |
Sherborne Cottage Building Company, Ltd (Registered number: 00030977) |
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Balance Sheet |
31 December 2020 |
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31.12.20 | 31.12.19 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Investments | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Revaluation reserve | 8 |
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Non-distributable reserve | 8 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
Sherborne Cottage Building Company, Ltd (Registered number: 00030977) |
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Balance Sheet - continued |
31 December 2020 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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Sherborne Cottage Building Company, Ltd (Registered number: 00030977) |
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Notes to the Financial Statements |
for the Year Ended 31 December 2020 |
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1. | STATUTORY INFORMATION |
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Sherborne Cottage Building Company, Ltd is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Rent received represents charges made to tenants during the year and is net of void rents on properties vacated during the year. |
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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. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
At 1 January 2020 |
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Additions |
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Revaluations | 84,834 |
At 31 December 2020 |
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NET BOOK VALUE |
At 31 December 2020 |
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At 31 December 2019 |
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Sherborne Cottage Building Company, Ltd (Registered number: 00030977) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2020 |
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4. | INVESTMENT PROPERTY - continued |
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Fair value at 31 December 2020 is represented by: |
£ |
Valuation in 2016 | 16,503,840 |
Valuation in 2017 | 324,861 |
Valuation in 2018 | 715,061 |
Valuation in 2019 | 251,303 |
Valuation in 2020 | 84,834 |
Cost | 1,824,881 |
19,704,780 |
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If investment properties had not been revalued they would have been included at the following historical cost: |
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31.12.20 | 31.12.19 |
£ | £ |
Cost | 1,616,816 | 1,616,816 |
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Investment properties were valued by the directors as at 31st December 2020. The directors have applied an increase in value using the movements reported in the HM Land Registry standard reports for the postcode area. |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.20 | 31.12.19 |
£ | £ |
Other debtors |
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6. | CURRENT ASSET INVESTMENTS |
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Current asset investments are international bonds which had a market value of £361,799 as at 31st December 2020 (2019: £340,006). |
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In accordance with the Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The surrender value of the bonds has been disclosed in the balance sheet, and the movement in value has been processed through the profit and loss account which is subject to corporation tax. This has resulted in a gain on the revaluation of the bonds of £21,793. |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.20 | 31.12.19 |
£ | £ |
Rents received in advance |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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Sherborne Cottage Building Company, Ltd (Registered number: 00030977) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2020 |
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8. | RESERVES |
Revaluation | Non-distributable |
reserve | reserve | Totals |
£ | £ | £ |
At 1 January 2020 |
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Movement in reserves | - | 14,498,837 | 14,498,837 |
Movement in reserves | (17,795,065 | ) | - | (17,795,065 | ) |
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At 31 December 2020 |
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