Bedford Riverside Regeneration Limited
|
Registered number: |
07854052
|
Balance Sheet |
as at 31 December 2021
|
|
Notes |
|
|
2021 |
|
|
2020 |
£ |
£ |
Current assets |
Debtors |
3 |
|
445,703 |
|
|
442,596 |
Cash at bank and in hand |
|
|
3,293 |
|
|
2,988 |
|
|
|
448,996 |
|
|
445,584 |
|
Creditors: amounts falling due within one year |
4 |
|
(448,918) |
|
|
(445,418) |
|
Net current assets |
|
|
|
78 |
|
|
166 |
|
Net assets |
|
|
|
78 |
|
|
166 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
200 |
|
|
200 |
Profit and loss account |
|
|
|
(122) |
|
|
(34) |
|
Shareholders' funds |
|
|
|
78 |
|
|
166 |
|
|
|
|
|
|
|
|
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
|
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
|
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
|
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
|
|
|
|
|
C A McQueston |
Director |
Approved by the board on 14 September 2022
|
|
Bedford Riverside Regeneration Limited
|
Notes to the Accounts |
for the year ended 31 December 2021
|
|
1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
|
|
|
Revenue recognition - Construction contracts |
|
All activities related to construction contracts are accounted for using the percentage of completion method. Under this method, the revenue recognised equals the latest estimate of the total selling price of the contract multiplied by the actual completion rate determined by reference to the physical state of progress of the works. The latest estimate of the total selling price takes account of claims that have been accepted by the client or are highly probable. In the early stages of a long-term construction contract it is not possible to reasonably measure the outcome of the performance obligations under the contract. In such circumstances, where the Company expects to recover the costs incurred in satisfying the performance obligations, revenue is only recognised to the extent of the costs incurred. If it is regarded as probable that a contract will generate a loss on completion, a provision for the losses to completion is recognised as a current provision in the balance sheet. The loss is provided for in full as soon as it is can be reliably measured, irrespective of the completion rate. |
|
|
Revenue |
|
Revenue comprises amounts due under contract and valuation statements on the construction and development projects issued during the period stated net of VAT.
|
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
|
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
|
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
|
|
|
Provisions |
|
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
|
|
|
2 |
Employees |
2021 |
|
2020 |
Number |
Number |
|
|
Average number of persons employed by the company |
0 |
|
0 |
|
|
|
|
|
|
|
|
|
|
3 |
Debtors |
2021 |
|
2020 |
£ |
£ |
|
|
Other debtors |
445,703 |
|
442,596 |
|
|
|
|
|
|
|
|
|
|
4 |
Creditors: amounts falling due within one year |
2021 |
|
2020 |
£ |
£ |
|
|
Trade creditors |
145,655 |
|
139,655 |
|
Other creditors |
303,263 |
|
305,763 |
|
|
|
|
|
|
448,918 |
|
445,418 |
|
|
|
|
|
|
|
|
|
|
5 |
Related party transactions |
|
|
BY Development Ltd |
|
The Company is 25% owned by BY Development Ltd. At the start and end of the year the Company had lent BY Development Ltd £65,000. The loan is interest free with no fixed repayment terms. |
|
|
Coplan Estates Ltd |
|
Shareholders owning 69.5% of the Company also collectively own 100% of Coplan Estates Limited. At the start and end of the year the Company had lent Coplan Estates Limited £194,424. The loan is interest free with no fixed repayment terms.
|
|
|
Bouygues (UK) Ltd |
|
Bouygues (UK) Ltd and BY Development Ltd belong to the same group of companies. At the end of the the company owed a retention to Bouygues (UK) Ltd of £139,656 (2018: £440,535). |
|
6 |
Controlling party |
|
|
In the opinion of the directors there is no ultimate controlling party.
|
|
|
7 |
Other information |
|
|
Bedford Riverside Regeneration Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
Beckett House |
|
1 Lambeth Palace Road |
|
London |
|
SE1 7EU |