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Registration number: 04642368

Buckingham Landscapes (UK) Limited

Annual Report and Unaudited Financial Statements - Companies House Filing

for the Year Ended 31 March 2021

 

Buckingham Landscapes (UK) Limited

(Registration number: 04642368)
Statement of Financial Position as at 31 March 2021

Note

2021
£

2020
£

Fixed assets

 

Tangible assets

4

320

452

Current assets

 

Debtors

5

221

2,779

Cash at bank and in hand

 

15,368

884

 

15,589

3,663

Creditors: Amounts falling due within one year

6

(6,258)

(3,423)

Net current assets

 

9,331

240

Total assets less current liabilities

 

9,651

692

Creditors: Amounts falling due after more than one year

6

(8,493)

-

Net assets

 

1,158

692

Capital and reserves

 

Called up share capital

2

2

Profit and loss account

1,156

690

Shareholders' funds

 

1,158

692

For the financial year ending 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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 provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Income Statement has been taken.

Approved and authorised by the director on 5 July 2021
 

.........................................

N Stanley
Director

 

Buckingham Landscapes (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2021

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is: 6 Easington Place, Maori Road, Guildford, Surrey, GU1 2EQ.

2

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.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity, and specific criteria have been met for each of the company's activities.

Government grants

Grants are accounted for under the accruals model as permitted by FRS 102. Grants of a revenue nature are recognised in “other income” within profit or loss in the same period as the related expenditure. This includes the Government Coronavirus Job Retention Scheme. The Company has also benefitted from subsidised interest as part of the Government bounce back loan scheme.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Buckingham Landscapes (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2021

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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 over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% reducing balance

Motor vehicles

25% reducing balance

Trade debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and bank deposits.

Trade creditors

Short term creditors are measured at the transaction price.

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 Income Statement 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.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Employee benefits

Short-term employee benefits are recognised as an expense in the period which they are incurred.

 

Buckingham Landscapes (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2021

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2020 - 1).

4

Tangible assets

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2020

439

12,327

12,766

At 31 March 2021

439

12,327

12,766

Depreciation

At 1 April 2020

377

11,937

12,314

Charge for the year

34

98

132

At 31 March 2021

411

12,035

12,446

Carrying amount

At 31 March 2021

28

292

320

At 31 March 2020

62

390

452

5

Debtors

2021
£

2020
£

Prepayments

221

308

Other debtors

-

2,471

221

2,779

 

Buckingham Landscapes (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2021

6

Creditors

Creditors: amounts falling due within one year

Note

2021
£

2020
£

Bank loans and overdrafts

7

1,507

-

Taxation and social security

 

610

2,270

Accruals and deferred income

 

1,213

1,153

Other creditors

 

2,928

-

 

6,258

3,423


Creditors include bank loans which are secured of £1,507 (2020 - £nil).

Creditors: amounts falling due after more than one year

Note

2021
£

2020
£

Loans and borrowings

7

8,493

-

2021
£

2020
£

After more than five years by instalments

373

-

-

-

Creditors include bank loans which are secured of £8,493 (2020 - £nil).

Creditors include bank loans repayable by instalments of £373 (2020 - £nil) due after more than five years.

7

Loans and borrowings

2021
£

2020
£

Non-current loans and borrowings

Bank borrowings

8,493

-

2021
£

2020
£

Current loans and borrowings

Bank borrowings

1,507

-

Included in loans and borrowings are the following amounts due after more than five years:

Borrowings due after five years

Loan repayable in instalments. Interest charged at 2.5%.