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REGISTERED NUMBER: 00255259 (England and Wales) |
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Unaudited Financial Statements |
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for the period |
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1st October 2018 to 31st March 2019 |
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for |
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HOWARD BUTLER LIMITED |
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REGISTERED NUMBER: 00255259 (England and Wales) |
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Unaudited Financial Statements |
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for the period |
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1st October 2018 to 31st March 2019 |
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for |
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HOWARD BUTLER LIMITED |
HOWARD BUTLER LIMITED (REGISTERED NUMBER: 00255259) |
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Contents of the Financial Statements |
for the period 1st October 2018 to 31st March 2019 |
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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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HOWARD BUTLER LIMITED |
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Company Information |
for the period 1st October 2018 to 31st March 2019 |
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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 practising name of |
Baker (Midlands) Limited) |
Arbor House |
Broadway North |
Walsall |
WS1 2AN |
HOWARD BUTLER LIMITED (REGISTERED NUMBER: 00255259) |
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Balance Sheet |
31st March 2019 |
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2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Investments | 7 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 8 |
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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 | 9 |
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Revaluation reserve | 10 |
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Capital redemption reserve |
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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. |
HOWARD BUTLER LIMITED (REGISTERED NUMBER: 00255259) |
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Balance Sheet - continued |
31st March 2019 |
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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 on
behalf by: |
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HOWARD BUTLER LIMITED (REGISTERED NUMBER: 00255259) |
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Notes to the Financial Statements |
for the period 1st October 2018 to 31st March 2019 |
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1. | STATUTORY INFORMATION |
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Howard Butler Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The financial statements are presented in sterling which is the functional currency of the company and rounded |
to the nearest £1. |
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The significant accounting policies applied in the preparation of these financial statements are set out below. |
These policies have been consistently applied to all years presented unless otherwise stated. |
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Preparation of consolidated financial statements |
The financial statements contain information about Howard Butler Limited as an individual company and do |
not contain consolidated financial information as the parent of a group. The company is exempt under Section |
399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
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Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The |
Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party |
transactions with wholly owned subsidiaries within the group. |
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Significant judgements and estimates |
The preparation of the financial statements requires management to make judgements, estimates and |
assumptions that affect the amounts reported for assets and liabilities at the balance sheet date and the |
amounts reported for revenues and expenses during the year. However the nature of estimation means that |
actual outcomes could differ from those estimates. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade |
discounts.The policy adopted for the recognition of turnover is as follows: |
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Sale of Goods |
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Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods |
have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the |
economic benefits associated with the transaction will flow to the company and the costs incurred or to be |
incurred in respect of the transaction can be measured reliably. This is usually on the dispatch of goods. |
HOWARD BUTLER LIMITED (REGISTERED NUMBER: 00255259) |
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Notes to the Financial Statements - continued |
for the period 1st October 2018 to 31st March 2019 |
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2. | ACCOUNTING POLICIES - continued |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any |
accumulated impairment losses. Historical cost includes any expenditure that is directly attributable to bringing |
the asset to the location and condition necessary for it to be capable of operating in the manner intended by |
management. |
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The carrying values of tangible fixed assets are reviewed for impairment when events or changes in |
circumstances indicate the carrying value may not be recoverable. |
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Investments in subsidiaries and associates |
Investments in subsidiary undertakings are initially recognised at fair value which is normally the transaction |
price. |
At each balance sheet date the investments are reviewed for any indication of impairment. If such indication |
exists then where the carrying amount exceeds its estimated recoverable amount, an impairment loss is |
recognised in the profit & loss account. |
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Stocks |
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Stocks are |
recognised as an expense in the period in which the related turnover is recognised. |
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Cost is determined on the first-in, first-out (FIFO) method. Cost includes the purchase price, including taxes and |
duties and transport and handling directly attributable to bringing the stock to its present location and |
condition. The cost of finished goods and work in progress includes raw materials, direct labour and other |
direct costs and related production overheads (based on normal operating capacity). |
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At the end of each reporting period stocks are assessed for impairment. If an item of stock is impaired, the |
identified stock is reduced to its selling price less costs to complete and sell and an impairment charge is |
recognised in the profit and loss account. Where a reversal of the impairment is recognised the impairment |
charge is reversed, up to the original impairment loss, and is recognised as a credit in the profit and loss |
account. |
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Taxation |
Taxation for the period 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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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HOWARD BUTLER LIMITED (REGISTERED NUMBER: 00255259) |
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Notes to the Financial Statements - continued |
for the period 1st October 2018 to 31st March 2019 |
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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. |
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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 period end and that are expected to apply to the |
reversal of the timing difference. |
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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. |
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Research and development |
Expenditure on research and development is written off in the year in which it is incurred. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling |
at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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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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Employee benefits |
The company provides a range of benefits to employees, including annual bonus arrangements and defined |
contribution pension plans. |
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i. Short term benefits |
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Short term benefits, including holiday pay and other similar non-monetary benefits, are recognised as an |
expense in the period in which the service is received. |
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ii. Defined contribution pension plans |
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The company operates a defined contribution plan for its employees. A defined contribution plan is a pension |
plan under which the company pays fixed contributions into a separate entity. Once the contributions have |
been paid the company has no further payment obligations. The contributions are recognised as an expense |
when they are due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are |
held separately from the company in independently administered funds. |
HOWARD BUTLER LIMITED (REGISTERED NUMBER: 00255259) |
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Notes to the Financial Statements - continued |
for the period 1st October 2018 to 31st March 2019 |
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2. | ACCOUNTING POLICIES - continued |
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Short term debtors and creditors |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at |
transaction price. Any losses arising from impairment are recognised in the profit and loss account in other |
administrative expenses. |
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Cash and cash equivalents |
Cash comprise cash in hand and demand deposits. Cash equivalents are short-term, 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 an insignificant risk of change in value |
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Provisions |
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past |
event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be |
reliably estimated. |
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Impairment |
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each |
balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating |
unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable |
amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount |
where the impairment loss is a revaluation decrease. |
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Current asset investments |
All current asset investments are shares held in listed companies which are traded on a regular basis. |
Investments are recognised initially at cost which is normally the transaction price excluding transaction costs. |
Subsequently, they are measured at fair value with changes recognised in the revaluation reserve or profit and |
loss account. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the period was
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HOWARD BUTLER LIMITED (REGISTERED NUMBER: 00255259) |
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Notes to the Financial Statements - continued |
for the period 1st October 2018 to 31st March 2019 |
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4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1st October 2018 |
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Additions |
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Disposals | ( |
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At 31st March 2019 |
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DEPRECIATION |
At 1st October 2018 |
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Charge for period |
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Eliminated on disposal | ( |
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At 31st March 2019 |
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NET BOOK VALUE |
At 31st March 2019 |
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At 30th September 2018 |
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5. | FIXED ASSET INVESTMENTS |
Interest |
Shares in | in |
group | associate |
undertakings | undertaking | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1st October 2018 |
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93,218 |
Additions |
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3,865,838 |
Permanent diminution in value | ( |
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(3,100,000 | ) |
At 31st March 2019 |
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859,056 |
NET BOOK VALUE |
At 31st March 2019 |
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859,056 |
At 30th September 2018 |
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93,218 |
HOWARD BUTLER LIMITED (REGISTERED NUMBER: 00255259) |
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Notes to the Financial Statements - continued |
for the period 1st October 2018 to 31st March 2019 |
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5. | FIXED ASSET INVESTMENTS - continued |
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Cost or valuation at 31st March 2019 is represented by: |
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Interest |
Shares in | in |
group | associate |
undertakings | undertaking | Totals |
£ | £ | £ |
Valuation in 2019 | 828,555 | - | 828,555 |
Cost | 5,000 | 25,501 | 30,501 |
833,555 | 25,501 | 859,056 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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Included in other debtors are prepayments of £49,595 (2018: £30,210) |
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7. | CURRENT ASSET INVESTMENTS |
2019 | 2018 |
£ | £ |
Listed investments | 37,367 | 38,030 |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade creditors |
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Amounts owed to group undertakings |
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Taxation and social security |
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Other creditors |
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Other creditors relate to accruals. |
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9. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2019 | 2018 |
value: | £ | £ |
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Ordinary | £1 | 76,460 | 76,460 |
HOWARD BUTLER LIMITED (REGISTERED NUMBER: 00255259) |
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Notes to the Financial Statements - continued |
for the period 1st October 2018 to 31st March 2019 |
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10. | RESERVES |
Revaluation |
reserve |
£ |
At 1st October 2018 |
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Current asset revaluation | (375 | ) |
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At 31st March 2019 |
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