Company Registration No. 04262618 (England and Wales)
BEST FRENCH MORTGAGE LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2019
PAGES FOR FILING WITH REGISTRAR
BEST FRENCH MORTGAGE LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
BEST FRENCH MORTGAGE LIMITED
BALANCE SHEET
AS AT
31 MARCH 2019
31 March 2019
- 1 -
2019
2018
Notes
£
£
£
£
Fixed assets
Tangible assets
3
-
613
Current assets
Cash at bank and in hand
4,401
36,080
Creditors: amounts falling due within one year
4
(26,051)
(53,586)
Net current liabilities
(21,650)
(17,506)
Total assets less current liabilities
(21,650)
(16,893)
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
(21,652)
(16,895)
Total equity
(21,650)
(16,893)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements. true

For the financial year ended 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he member has 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.

The financial statements were approved by the board of directors and authorised for issue on 6 December 2019 and are signed on its behalf by:
Mr D Romano
Director
Company Registration No. 04262618
BEST FRENCH MORTGAGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2019
- 2 -
1
Accounting policies
Company information

Best French Mortgage Limited is a private company limited by shares incorporated in England and Wales. The registered office is 53 St Matthews Road, Cosham, Portsmouth, Hants, PO6 2DZ.

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 £.

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 is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business , and is shown net of VAT and other sales related taxes . The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recover ed .

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
50% straight line
Fixtures and fittings
50% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss .

1.4
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

BEST FRENCH MORTGAGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2019
1
Accounting policies
(Continued)
- 3 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.5
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

1.6
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 2 (2018 - 2).

3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2018
27,330
Revaluation
(6,342)
At 31 March 2019
20,988
Depreciation and impairment
At 1 April 2018
26,717
Depreciation charged in the year
613
Revaluation
(6,342)
At 31 March 2019
20,988
Carrying amount
At 31 March 2019
-
At 31 March 2018
613
4
Creditors: amounts falling due within one year
2019
2018
£
£
Other creditors
26,051
53,586
2019-03-31 2018-04-01 false CCH Software CCH Accounts Production 2019.200 No description of principal activity 06 December 2019 Mr D Romano Mrs L Romano 04262618 2018-04-01 2019-03-31 04262618 2019-03-31 04262618 2018-03-31 04262618 core:OtherPropertyPlantEquipment 2018-03-31 04262618 core:CurrentFinancialInstruments 2019-03-31 04262618 core:CurrentFinancialInstruments 2018-03-31 04262618 core:ShareCapital 2019-03-31 04262618 core:ShareCapital 2018-03-31 04262618 core:RetainedEarningsAccumulatedLosses 2019-03-31 04262618 core:RetainedEarningsAccumulatedLosses 2018-03-31 04262618 bus:Director1 2018-04-01 2019-03-31 04262618 core:PlantMachinery 2018-04-01 2019-03-31 04262618 core:FurnitureFittings 2018-04-01 2019-03-31 04262618 core:OtherPropertyPlantEquipment 2018-03-31 04262618 core:OtherPropertyPlantEquipment 2019-03-31 04262618 core:OtherPropertyPlantEquipment 2018-04-01 2019-03-31 04262618 bus:PrivateLimitedCompanyLtd 2018-04-01 2019-03-31 04262618 bus:FRS102 2018-04-01 2019-03-31 04262618 bus:AuditExemptWithAccountantsReport 2018-04-01 2019-03-31 04262618 bus:SmallCompaniesRegimeForAccounts 2018-04-01 2019-03-31 04262618 bus:Director2 2018-04-01 2019-03-31 04262618 bus:FullAccounts 2018-04-01 2019-03-31 xbrli:pure xbrli:shares iso4217:GBP