New Future Properties Limited - Accounts to registrar (filleted) - small 18.2

New Future Properties Limited - Accounts to registrar (filleted) - small 18.2


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REGISTERED NUMBER: 05328760(England and Wales)












Unaudited Financial Statements

for the Year Ended 31 January 2019

for

New Future Properties Limited

New Future Properties Limited (Registered number: 05328760)






Contents of the Financial Statements
for the Year Ended 31 January 2019




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


New Future Properties Limited

Company Information
for the Year Ended 31 January 2019







DIRECTORS: P Rowley
G Szilagy
R J Moore
R G Lowe





SECRETARY: R G Lowe





REGISTERED OFFICE: The Quay
No12. Princes Parade
Liverpool Waters
Liverpool
Merseyside
L3 1BG





REGISTERED NUMBER: 05328760(England and Wales)





ACCOUNTANTS: Wilson Henry LLP
145 Edge Lane
Liverpool
Merseyside
L7 2PF

New Future Properties Limited (Registered number: 05328760)

Balance Sheet
31 January 2019

2019 2018
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 255,000 395,000

CURRENT ASSETS
Debtors 5 470 1,772
Cash at bank 21,316 1,906
21,786 3,678
CREDITORS
Amounts falling due within one year 6 1,240 2,380
NET CURRENT ASSETS 20,546 1,298
TOTAL ASSETS LESS CURRENT
LIABILITIES

275,546

396,298

CREDITORS
Amounts falling due after more than one
year

7

(223,444

)

(341,088

)

PROVISIONS FOR LIABILITIES - (12,588 )
NET ASSETS 52,102 42,622

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 8 52,002 42,522
SHAREHOLDERS' FUNDS 52,102 42,622

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2019 in accordance with Section 476 of the Companies Act 2006.

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.

New Future Properties Limited (Registered number: 05328760)

Balance Sheet - continued
31 January 2019


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 24 October 2019and were signed on its
behalf by:





G Szilagy- Director


New Future Properties Limited (Registered number: 05328760)

Notes to the Financial Statements
for the Year Ended 31 January 2019

1. STATUTORY INFORMATION

New Future Properties Limited is a private company, limited by shares, registered in England and Wales.
The company's registered 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the year.

Investment property
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.

Investment property is initially recognised at cost, then subsequently measured at fair value at each
reporting date with changes in fair value recognised in profit or loss.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4(2018 - 4) .

New Future Properties Limited (Registered number: 05328760)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2019

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2018 395,000
Disposals (140,000 )
At 31 January 2019 255,000
NET BOOK VALUE
At 31 January 2019 255,000
At 31 January 2018 395,000

Fair value at 31 January 2019 is represented by:

£   
Valuation in 2018 66,253
Valuation in 2019 (23,790 )
Cost 212,537
255,000

Investment properties were valued on an open market basis on 31 January 2019 by the directors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£    £   
Tax - 1,142
Prepayments 470 630
470 1,772

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£    £   
Director's current accounts 100 100
Accrued expenses 1,140 2,280
1,240 2,380

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2019 2018
£    £   
Bank Loans due after more than 12
months

223,444

341,088

New Future Properties Limited (Registered number: 05328760)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2019

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2019 2018
£    £   
Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank Loans due after more than 12
months

223,444

341,088

8. RESERVES
Retained
earnings
£   

At 1 February 2018 42,522
Profit for the year 9,480
At 31 January 2019 52,002