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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 2018

 

Buckingham Landscapes (UK) Limited

(Registration number: 04642368)
Statement of Financial Position as at 31 March 2018

Note

2018
£

2017
£

Fixed assets

 

Tangible assets

4

899

1,199

Current assets

 

Debtors

5

1,536

1,260

Cash at bank and in hand

 

4,244

801

 

5,780

2,061

Creditors: Amounts falling due within one year

6

(5,639)

(2,883)

Net current assets/(liabilities)

 

141

(822)

Total assets less current liabilities

 

1,040

377

Provisions for liabilities

(171)

(228)

Net assets

 

869

149

Capital and reserves

 

Called up share capital

2

2

Profit and loss account

867

147

Total equity

 

869

149

For the financial year ending 31 March 2018 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.

 

Buckingham Landscapes (UK) Limited

(Registration number: 04642368)
Statement of Financial Position as at 31 March 2018

Approved and authorised by the director on 31 August 2018
 

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

N Stanley

Director

 

Buckingham Landscapes (UK) Limited

Notes to the Financial Statements for the Year Ended 31 March 2018

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 prepares 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 sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of 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.

Tax

The tax expense for the period comprises current and deferred 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.

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.

 

Buckingham Landscapes (UK) Limited

Notes to the Financial Statements for the Year Ended 31 March 2018

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

Motor Vehicles

25% reducing balance

Plant and Machinery

25% reducing balance

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.

 

Buckingham Landscapes (UK) Limited

Notes to the Financial Statements for the Year Ended 31 March 2018

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

 Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2017 - 1).

 

Buckingham Landscapes (UK) Limited

Notes to the Financial Statements for the Year Ended 31 March 2018

4

Tangible assets

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2017

2,211

12,327

14,538

At 31 March 2018

2,211

12,327

14,538

Depreciation

At 1 April 2017

1,937

11,402

13,339

Charge for the year

69

231

300

At 31 March 2018

2,006

11,633

13,639

Carrying amount

At 31 March 2018

205

694

899

At 31 March 2017

274

925

1,199

5

Debtors

2018
£

2017
£

Trade debtors

-

300

Prepayments

1,536

960

1,536

1,260

6

Creditors

Creditors: amounts falling due within one year

2018
£

2017
£

Taxation and social security

4,096

1,782

Accruals and deferred income

1,099

1,069

Other creditors

444

32

5,639

2,883

7

Related party transactions

As at the year end the company owed the director £444 (2017: £32).