Company Registration No. 00547037 (England and Wales)
BIRDHURST INVESTMENT COMPANY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
PAGES FOR FILING WITH REGISTRAR
BIRDHURST INVESTMENT COMPANY LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
BIRDHURST INVESTMENT COMPANY LIMITED (REGISTERED NUMBER: 00547037)
BALANCE SHEET
AS AT
31 MARCH 2021
31 March 2021
- 1 -
2021
2020
Notes
£
£
£
£
Fixed assets
Investment properties
3
10,328,039
10,786,073
Current assets
Debtors
4
777,000
777,005
Cash at bank and in hand
1,221,361
789,353
1,998,361
1,566,358
Creditors: amounts falling due within one year
5
(604,759)
(618,783)
Net current assets
1,393,602
947,575
Total assets less current liabilities
11,721,641
11,733,648
Creditors: amounts falling due after more than one year
6
(750,000)
(750,000)
Net assets
10,971,641
10,983,648
Capital and reserves
Called up share capital
5,000
5,000
Capital redemption reserve
1,249,244
1,249,244
Distributable profit and loss reserves
9,717,397
9,729,404
Total equity
10,971,641
10,983,648
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
BIRDHURST INVESTMENT COMPANY LIMITED (REGISTERED NUMBER: 00547037)
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2021
31 March 2021
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 25 May 2021
Mr B J Darkin
Director
BIRDHURST INVESTMENT COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
- 3 -
1
Accounting policies
Company information
Birdhurst Investment Company Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Estcots Barn, College Lane, East Grinstead, West Sussex, RH19 3LR.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £
1
.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents the value of rents and fees invoiced by the company, net of VAT.
1.3
Investment properties
Investment property, which is property held to earn rentals and for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure
. Subsequently it is measured
at fair value a
t
the reporting end date.
The surplus or deficit on revaluation is recognised in profit or loss.
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
1.5
During the course of ordinary activities the company may collect rent deposits, some of which are held in designated bank accounts. As such, these balances do not represent assets of the company as they do not convey on the company any rights or other access to future economic benefits.
On this basis such designated bank accounts are not included in the company's balance sheet together with the corresponding liability to repay the amounts to the third parties.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 1
(2020 - 1).
BIRDHURST INVESTMENT COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
- 4 -
3
Investment property
2021
£
Fair value
At 1 April 2020
10,786,073
Revaluations
(458,034)
At 31 March 2021
10,328,039
The investment properties were valued on an open market basis on 31 March 20
20
by the director B J Darkin.
If investment properties were stated on an historical cost basis rather than a fair value basis, the amounts would have been included as £11,695,615 (2020 - £11,695,615).
4
Debtors
2021
2020
Amounts falling due within one year:
£
£
Other debtors
777,000
777,005
5
Creditors: amounts falling due within one year
2021
2020
£
£
Trade creditors
68,602
59,422
Taxation and social security
169,338
209,789
Other creditors
366,819
349,572
604,759
618,783
6
Creditors: amounts falling due after more than one year
2021
2020
£
£
Other creditors
750,000
750,000
BIRDHURST INVESTMENT COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
- 5 -
7
Non-distributable profits reserve
2021
2020
£
£
At the beginning of the year
-
468,754
Non distributable profits in the year
-
(468,754)
At the end of the year
-
-
8
Director's transactions
As at the balance sheet date, there was a director's loan account balance of £853,953 (2020 - £876,186) of which, £103,953 is shown within other creditors due within one year and £750,000 shown in other creditors due after one year.
9
Designated bank accounts
As at the balance sheet date, the company held £97,985 (2020 - £72,457) in designated bank accounts.