Registration number:
Bath & Somerset Investments Limited
for the Year Ended 31 July 2018
Bath & Somerset Investments Limited
Contents
Company Information |
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Director's Report |
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Accountants' Report |
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Profit and Loss Account |
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Statement of Comprehensive Income |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
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Detailed Profit and Loss Account |
Bath & Somerset Investments Limited
Company Information
Director |
J.J. Self |
Company secretary |
M. Self von Hippel |
Registered office |
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Bankers |
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Accountants |
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1 |
Bath & Somerset Investments Limited
Director's Report
Year Ended 31 July 2018
The director presents his report and the financial statements for the year ended 31 July 2018.
Director of the company
The director who held office during the year was as follows:
Principal activity
The principal activity of the company is the development of property and related services
Small companies provision statement
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved by the Board on
J.J. Self
Director
2 |
Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Bath & Somerset Investments Limited
Year Ended 31 July 2018
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Bath & Somerset Investments Limited for the year ended 31 July 2018 as set out on pages 4 to 13 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance/.
This report is made solely to the Board of Directors of Bath & Somerset Investments Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Bath & Somerset Investments Limited and state those matters that we have agreed to state to the Board of Directors of Bath & Somerset Investments Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Bath & Somerset Investments Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Bath & Somerset Investments Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Bath & Somerset Investments Limited. You consider that Bath & Somerset Investments Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Bath & Somerset Investments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Chartered Accountants and Business Advisers
Lower Charlton Estate
Shepton Mallet
Somerset
BA4 5QE
3 |
Bath & Somerset Investments Limited
Profit and Loss Account
Year Ended 31 July 2018
Note |
Total |
Total |
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Turnover |
- |
- |
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Distribution costs |
- |
( |
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Administrative expenses |
( |
( |
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Operating loss |
( |
( |
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Loss before tax |
( |
( |
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Loss for the financial year |
( |
( |
The above results were derived from continuing operations.
The company has no recognised gains or losses for the year other than the results above.
4 |
Bath & Somerset Investments Limited
Statement of Comprehensive Income
Year Ended 31 July 2018
Note |
2018 |
2017 |
|
Loss for the year |
( |
( |
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Total comprehensive income for the year |
( |
( |
5 |
Bath & Somerset Investments Limited
(Registration number: 02022526)
Balance Sheet
31 July 2018
Note |
2018 |
2017 |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
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Share premium reserve |
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Profit and loss account |
( |
( |
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Total equity |
( |
( |
6 |
Bath & Somerset Investments Limited
(Registration number: 02022526)
Balance Sheet
31 July 2018
For the financial year ending 31 July 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• |
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• |
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved and authorised by the
J.J. Self
Director
7 |
Bath & Somerset Investments Limited
Statement of Changes in Equity
Year Ended 31 July 2018
Share capital |
Share premium |
Profit and loss account |
Total |
|
At 1 August 2017 |
|
|
( |
( |
Loss for the year |
- |
- |
( |
( |
Total comprehensive income |
- |
- |
( |
( |
At 31 July 2018 |
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|
( |
( |
Share capital |
Share premium |
Profit and loss account |
Total |
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At 1 August 2016 |
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|
( |
( |
Loss for the year |
- |
- |
( |
( |
Total comprehensive income |
- |
- |
( |
( |
At 31 July 2017 |
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|
( |
( |
8 |
Bath & Somerset Investments Limited
Notes to the Financial Statements
Year Ended 31 July 2018
General information |
The company is a private company limited by share capital incorporated in England and Wales.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The financial statements have been prepared on a going concern basis with the continued support of the director and companby bankers.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Plant & equipment |
20% per annum straght line |
9 |
Bath & Somerset Investments Limited
Notes to the Financial Statements
Year Ended 31 July 2018
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
10 |
Bath & Somerset Investments Limited
Notes to the Financial Statements
Year Ended 31 July 2018
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Loss before tax |
Arrived at after charging/(crediting)
11 |
Bath & Somerset Investments Limited
Notes to the Financial Statements
Year Ended 31 July 2018
2018 |
2017 |
Tangible assets |
Cost or valuation |
Depreciation |
Carrying amount |
At 31 July 2018 |
Stocks |
2018 |
2017 |
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Other inventories |
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Debtors |
2018 |
2017 |
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Trade debtors |
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Other debtors |
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Total current trade and other debtors |
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Creditors |
Note |
2018 |
2017 |
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Due within one year |
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Loans and borrowings |
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Other creditors |
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12 |
Bath & Somerset Investments Limited
Notes to the Financial Statements
Year Ended 31 July 2018
Loans and borrowings |
2018 |
2017 |
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Current loans and borrowings |
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Bank borrowings |
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13 |
Bath & Somerset Investments Limited
Detailed Profit and Loss Account
Year Ended 31 July 2018
2018 |
2017 |
|
Turnover |
- |
- |
Distribution costs |
- |
(8,000) |
Administrative expenses |
||
General administrative expenses |
(4,293) |
(7,878) |
Finance charges |
(74) |
(66) |
(4,367) |
(7,944) |
|
Operating loss |
(4,367) |
(15,944) |
Loss before tax |
(4,367) |
(15,944) |
14 |
Bath & Somerset Investments Limited
Detailed Profit and Loss Account
Year Ended 31 July 2018
2018 |
2017 |
General administrative expenses |
||
Charitable donations |
3,500 |
7,500 |
Sundry expenses |
865 |
38 |
Accountancy fees |
(72) |
340 |
4,293 |
7,878 |
Finance charges |
||
Bank charges |
74 |
66 |
15 |