Surenow Property Limited - Accounts to registrar (filleted) - small 18.2
Surenow Property Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018 |
FOR |
SURENOW PROPERTY LIMITED |
SURENOW PROPERTY LIMITED (REGISTERED NUMBER: SC313964) |
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 |
SURENOW PROPERTY LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
169 West George Street |
Glasgow |
G2 2LB |
SURENOW PROPERTY LIMITED (REGISTERED NUMBER: SC313964) |
BALANCE SHEET |
31 DECEMBER 2018 |
2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 6 |
Revaluation reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their 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 Board of Directors on |
SURENOW PROPERTY LIMITED (REGISTERED NUMBER: SC313964) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
1. | STATUTORY INFORMATION |
Surenow Property Limited is a |
number and registered office address can be found on the Company Information page. |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial |
Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies |
Act 2006. These financial statements have been prepared under the historical cost convention modified for the revaluation |
of certain fixed assets. |
Turnover |
Turnover represents amounts invoiced for property rental. Turnover is recognised at the point at which the Company has |
fulfilled its contractual obligation to the tenants. |
Investment properties |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value |
is recognised in profit or loss. |
Financial instruments |
The Company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments. |
Financial instruments are classified and accounted for as financial assets, financial liabilities or equity instruments, |
according to the substance of the contractual arrangement. |
Financial instruments which are assets are stated at cost less any provision for impairment. Financial liabilities are stated at |
principal capital amounts outstanding at the period end. Issue costs relating to financial liabilities are deducted from the |
outstanding balance and are amortised over the period to the due date for repayment of the financial liability. |
An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of |
its liabilities. A financial liability is any contractual arrangement for an entity to deliver cash to the holder of the associated |
financial instrument. |
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 |
Current tax is recognised at the amount of tax payable using the tax rates and laws that 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. |
SURENOW PROPERTY LIMITED (REGISTERED NUMBER: SC313964) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
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 |
and 31 December 2018 |
NET BOOK VALUE |
At 31 December 2018 |
At 31 December 2017 |
The investment property was valued by the directors on 31 December 2018 and is included in the financial statements at a |
value which represents their opinion of the market value. |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Amounts owed to related undertakings |
Taxation and social security |
Other creditors |
6. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2018 | 2017 |
value: | £ | £ |
Ordinary | £0.50 | 2,500 | 2,500 |
7. | RELATED PARTY DISCLOSURES |
Transactions with related parties include: |
2018 | 2017 |
£ | £ |
Amounts owed to related undertakings | 182,370 | 182,370 |
The above loans are unsecured, interest free and repayable on demand. |
No further transactions with related parties were undertaken such as are required to be disclosed under the provisions of |
Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and |
Republic of Ireland". |
8. | ULTIMATE CONTROLLING PARTY |
The Company was under the control of the holders of the issued ordinary share capital during the current and previous |
year. No individual shareholder had overall control of the Company. |