Southern Lettings Limited - Accounts to registrar (filleted) - small 18.2
Southern Lettings Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2018 |
| FOR |
| SOUTHERN LETTINGS LIMITED |
| SOUTHERN LETTINGS LIMITED (REGISTERED NUMBER: 04777386) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2018 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| SOUTHERN LETTINGS LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 DECEMBER 2018 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 12 Conqueror Court |
| Sittingbourne |
| Kent |
| ME10 5BH |
| SOUTHERN LETTINGS LIMITED (REGISTERED NUMBER: 04777386) |
| BALANCE SHEET |
| 31 DECEMBER 2018 |
| 2018 | 2017 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investment property | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings - non distributable |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The director acknowledges his responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the director on |
| SOUTHERN LETTINGS LIMITED (REGISTERED NUMBER: 04777386) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2018 |
| 1. | STATUTORY INFORMATION |
| Southern Lettings Limited is a |
| company's registered number and registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value |
| added taxes. Turnover includes revenue earned from the renting of properties. |
| Turnover from the renting of properties is recognised by reference to the stage of completion of the contract. The |
| stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the |
| total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the |
| outcome of a contract cannot be estimated reliably. |
| Investment property |
| Investment properties are stated at fair value based on the valuation performed by P Cogger, a director, with |
| recent experience in the location and category of properties valued. The valuer used observable market prices |
| adjusted as necessary for any difference in the future, location or condition of the specific properties. |
| Financial instruments |
| Financial assets - trade and other debtors are basic financial instruments and debt instruments measured at fair |
| value through the Income Statement and are measured subsequently at amortised cost. Prepayments are not |
| financial instruments. |
| Cash comprises cash at bank, in hand and short term deposits with an original maturity date of three months or |
| less. Cash at bank is measured at face value. |
| Financial liabilities - trade creditors and other creditors are measured initially at fair value through the Income |
| Statement and are measured subsequently at amortised cost. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to |
| the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
| substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
| sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from |
| those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that |
| have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the |
| timing difference. |
| 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. |
| SOUTHERN LETTINGS LIMITED (REGISTERED NUMBER: 04777386) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2018 |
| 2. | ACCOUNTING POLICIES - continued |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
| lease. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2017 - NIL). |
| 4. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 January 2018 |
| Additions |
| Revaluations |
| At 31 December 2018 |
| NET BOOK VALUE |
| At 31 December 2018 |
| At 31 December 2017 |
| Fair value at 31 December 2018 is represented by: |
| £ |
| Valuation in 2015 | 94,305 |
| Valuation in 2016 | 155,000 |
| Valuation in 2018 | 20,000 |
| Cost | 1,526,236 |
| 1,795,541 |
| If investment properties had not been revalued they would have been included at the following historical cost: |
| 2018 | 2017 |
| £ | £ |
| Cost | 1,526,236 | 1,060,696 |
| Investment properties were valued on a fair value basis on 31 December 2018 by |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Trade debtors |
| Other debtors |
| SOUTHERN LETTINGS LIMITED (REGISTERED NUMBER: 04777386) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2018 |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Taxation and social security |
| Other creditors |