Lindependent Properties Limited Filleted accounts for Companies House (small and micro)

LINDEPENDENT PROPERTIES LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 09607808

LINDEPENDENT PROPERTIES LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

30 June 2018

LINDEPENDENT PROPERTIES LIMITED

STATEMENT OF FINANCIAL POSITION

30 June 2018

	2018		2017
Note	£	£	£	£

FIXED ASSETS

Tangible assets	5		913		–

CURRENT ASSETS

Debtors	6	3,511	9,128
Cash at bank and in hand		159	2,014
		-------	--------
		3,670	11,142

CREDITORS: amounts falling due within one year	7	3,769		10,865
		-------		--------
NET CURRENT (LIABILITIES)/ASSETS			( 99)		277
			----		----
TOTAL ASSETS LESS CURRENT LIABILITIES			814		277
			----		----
NET ASSETS			814		277
			----		----

CAPITAL AND RESERVES

Called up share capital fully paid	1	1
Profit and loss account	813	276
	----	----
SHAREHOLDERS FUNDS	814	277
	----	----

These financial statements have been prepared and delivered 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'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the year ending 30 June 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 financial statements for the year in question in accordance with section 476 ;

- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

LINDEPENDENT PROPERTIES LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

30 June 2018

These financial statements were approved by the board of directors and authorised for issue on 21 March 2019 , and are signed on behalf of the board by:

Miss A L Lind
Director

Company registration number: 09607808

LINDEPENDENT PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 30 JUNE 2018

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Flat 1, 17 St German's Street, London, SE23 1RH, England.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared on the historical cost basis.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Computer equipment	-	33% straight line

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.

4. EMPLOYEE NUMBERS

The average number of persons employed by the company during the year amounted to 1 (2017: 1 ).

5. TANGIBLE ASSETS

	Computer equipment	Total
	£	£
Cost
At 1 July 2017	–	–
Additions	1,369	1,369
	-------	-------
At 30 June 2018	1,369	1,369
	-------	-------
Depreciation
At 1 July 2017	–	–
Charge for the year	456	456
	-------	-------
At 30 June 2018	456	456
	-------	-------
Carrying amount
At 30 June 2018	913	913
	-------	-------
At 30 June 2017	–	–
	-------	-------

6. DEBTORS

	2018	2017
	£	£
Trade debtors	–	9,128
Other debtors	3,511	–
	-------	-------
	3,511	9,128
	-------	-------

7. CREDITORS: amounts falling due within one year

	2018	2017
	£	£
Corporation tax	2,039	4,407
Other creditors	1,730	6,458
	-------	--------
	3,769	10,865
	-------	--------

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year the director entered into the following advances and credits with the company:

	2018
	Balance brought forward	Advances/ (credits) to the director	Amounts repaid	Balance outstanding
	£	£	£	£
Miss A L Lind	( 4,757)	11,792	( 3,524)	3,511
	-------	--------	-------	-------

	2017
	Balance brought forward	Advances/ (credits) to the director	Amounts repaid	Balance outstanding
	£	£	£	£
Miss A L Lind	( 11,353)	22,965	( 16,369)	( 4,757)
	--------	--------	--------	-------