ACCOUNTS - Final Accounts preparation

ATKINS PROPERTY SEARCH LTD - Company Information

Registered number: 07503415

ATKINS PROPERTY SEARCH LTD

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2019


ATKINS PROPERTY SEARCH LTD

CONTENTS

	Page
Statement of Financial Position	1
Notes to the Financial Statements	2 - 4


ATKINS PROPERTY SEARCH LTD REGISTERED NUMBER:07503415

STATEMENT OF FINANCIAL POSITION

AS AT 31 JANUARY 2019

		2019		2018
Note		£		£

Fixed assets
Tangible assets	4		366		-
Current assets
Cash at bank and in hand		138,373		69,399
		138,373		69,399
Current liabilities
Creditors: amounts falling due within one year	5	(44,807)		(49,505)
Net current assets			93,566		19,894

Net assets			93,932		19,894

Capital and reserves
Called up share capital	6	1	1
Profit and loss account		93,931	19,893
		93,932	19,894

The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 October 2019.

J Atkins

Director

The notes on pages 2 to 4 form part of these financial statements.

Page 1


ATKINS PROPERTY SEARCH LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2019

1.	General information

Atkins Property Search Ltd is a private limited liability company registered in England and Wales. Its registered office and principal place of business is at 3 Fleet Street, London, EC4Y 1AU.
The principal activity of the company is that of a property agency.
The company's functional and presentational currency is £ Sterling.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Commission is recognised when receivable, being on successful exchange of contracts or execution of a lease.

2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Office equipment

25%

straight line

The assets’ residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Comprehensive Income.

Page 2


ATKINS PROPERTY SEARCH LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2019

2.Accounting policies (continued)

2.4

Basic financial instruments

The company only enters into transactions that result in basic financial instruments such as trade and other debtors, trade and other creditors, cash at bank and in hand, loans with related parties.
Trade debtors, other debtors and loans to related parties are recognised initially at the transaction
price less attributable transaction costs. Trade creditors, other creditors and loans from related
parties are recognised initially at transaction price plus attributable transaction costs. Subsequently
they are measured at amortised cost using the effective interest method, less any impairment losses
in the case of trade and other debtors, and loans to related parties.
Cash and cash equivalents comprise cash balances and call deposits.

2.5

Current and deferred taxation

Tax is recognised in the Statement of Comprehensive Income, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Statement of Financial Position date, except that:
- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

2.6

Dividends

Equity dividends are recognised when they become legally payable.

Employees

The average monthly number of employees, including directors, during the year was 1 (2018 - 1).

Page 3


ATKINS PROPERTY SEARCH LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2019

4.	Tangible fixed assets

		Office equipment
		£
	Cost
	Additions	399
	At 31 January 2019	399
	Depreciation
	Charge for the year on owned assets	33
	At 31 January 2019	33
	Net book value
	At 31 January 2019	366
	At 31 January 2018	-

5.	Creditors: Amounts falling due within one year
		2019	2018
		£	£

Trade creditors	1,055	-
Other taxation and social security	42,014	19,505
Other creditors	38	30,000
Accruals and deferred income	1,700	-
	44,807	49,505

6.	Share capital
		2019	2018
		£	£

Allotted, called up and fully paid

1 Ordinary share of £1	1	1

Page 4