back to BASSETT WOOD CO. LIMITED(THE) detail The Bassett Wood Co. Limited - Period Ending 2017-12-31
The Bassett Wood Co. Limited 01245879 true 2017-01-01 2017-12-31 2017-12-31 The principal activity of the company is . Digita Accounts Production Advanced 6.21.8540.0 Software true Mr P M Barnes Mr Jonathan Barnes 01245879 2017-01-01 2017-12-31 01245879 2017-12-31 01245879 core:RetainedEarningsAccumulatedLosses 2017-12-31 01245879 core:ShareCapital 2017-12-31 01245879 core:CurrentFinancialInstruments 2017-12-31 01245879 core:LandBuildings 2017-12-31 01245879 core:OtherPropertyPlantEquipment 2017-12-31 01245879 bus:FRS102 2017-01-01 2017-12-31 01245879 bus:AuditExempt-NoAccountantsReport 2017-01-01 2017-12-31 01245879 bus:FullAccounts 2017-01-01 2017-12-31 01245879 bus:RegisteredOffice 2017-01-01 2017-12-31 01245879 bus:Director1 2017-01-01 2017-12-31 01245879 bus:Director2 2017-01-01 2017-12-31 01245879 bus:PrivateLimitedCompanyLtd 2017-01-01 2017-12-31 01245879 core:LandBuildings 2017-01-01 2017-12-31 01245879 core:PlantMachinery 2017-01-01 2017-12-31 01245879 countries:AllCountries 2017-01-01 2017-12-31 01245879 2016-12-31 01245879 core:LandBuildings 2016-12-31 01245879 core:OtherPropertyPlantEquipment 2016-12-31 01245879 2016-12-31 01245879 core:RetainedEarningsAccumulatedLosses 2016-12-31 01245879 core:ShareCapital 2016-12-31 01245879 core:CurrentFinancialInstruments 2016-12-31 01245879 core:LandBuildings 2016-12-31 01245879 core:OtherPropertyPlantEquipment 2016-12-31 iso4217:GBP

Registration number: 01245879

The Bassett Wood Co. Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2017

 

The Bassett Wood Co. Limited

Profit and Loss Account for the Year Ended 31 December 2017

The company has not traded during the year. During this year, the company received no income and incurred no expenditure and therefore made neither profit nor loss.

 

The Bassett Wood Co. Limited

(Registration number: 01245879)
Balance Sheet as at 31 December 2017

Note

2017
£

2016
£

Fixed assets

 

Tangible assets

3

113,939

113,939

Current assets

 

Debtors

4

80,785

80,785

Net assets

 

194,724

194,724

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

194,624

194,624

Total equity

 

194,724

194,724

For the financial year ending 31 December 2017 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved and authorised by the Board on 25 September 2018 and signed on its behalf by:
 

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

Mr Jonathan Barnes

Director

 

The Bassett Wood Co. Limited

Notes to the Financial Statements for the Year Ended 31 December 2017

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:
The Saw Mills
Vastern Wharf
Royal Wootton Bassett
Swindon
Wiltshire
SN4 7PD

These financial statements were authorised for issue by the Board on 25 September 2018.

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.

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

Land and buildings

2% straight line

Plant and machinery

20% reducing balance

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.

 

The Bassett Wood Co. Limited

Notes to the Financial Statements for the Year Ended 31 December 2017

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.

3

Tangible assets

Land and buildings
£

Plant and machinery
 £

Total
£

Cost or valuation

At 1 January 2017

113,491

18,575

132,066

At 31 December 2017

113,491

18,575

132,066

Depreciation

At 1 January 2017

2,269

15,858

18,127

At 31 December 2017

2,269

15,858

18,127

Carrying amount

At 31 December 2017

111,222

2,717

113,939

At 31 December 2016

111,222

2,717

113,939

Included within the net book value of land and buildings above is £111,222 (2016 - £111,222) in respect of freehold land and buildings.
 

4

Debtors

Note

2017
£

2016
£

Amounts owed by related parties

80,785

80,785

 

80,785

80,785