Furnished Letting Services Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01120769 (England)

Unaudited Financial Statements

For The Year Ended 30 June 2019

for

FURNISHED LETTING SERVICES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J A Farrell

M T Farrell

SECRETARY:

M T Farrell

REGISTERED OFFICE:

Unit 16

Northfields Prospect Business Centre

Putney Bridge Road

London

SW18 1PE

REGISTERED NUMBER:

01120769 (England)

ACCOUNTANTS:

LBCo Ltd

16 Northfields Prospect

Putney Bridge Road

London

SW18 1PE

FIXED ASSETS

Tangible assets

4

1

1

Investment property

5

688,200

688,200

688,201

688,201

CURRENT ASSETS

Stocks

23,882

23,882

Debtors

6

333,142

329,398

Cash in hand

16,346

34,760

373,370

388,040

CREDITORS

Amounts falling due within one year

7

7,404

8,870

NET CURRENT ASSETS

365,966

379,170

TOTAL ASSETS LESS CURRENT LIABILITIES

1,054,167

1,067,371

CAPITAL AND RESERVES

Called up share capital

8

100

100

Revaluation reserve

9

604,707

604,707

Retained earnings

9

449,360

462,564

SHAREHOLDERS' FUNDS

1,054,167

1,067,371

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

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 18 March 2020 and were signed on its behalf by:

J A Farrell - Director

1.	STATUTORY INFORMATION

Furnished Letting Services Limited is a private company, limited by shares , registered in England. The

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

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

Turnover comprises gross rents received and the proceeds of property dealing in the year.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Office Equipment

-

25% on reducing balance

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.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the

balance sheet date. It is not recognised on investment property revaluation gains or losses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2018 - 2 ).

4.	TANGIBLE FIXED ASSETS

Office

Equipment

£

COST

At 1 July 2018

and 30 June 2019

15,473

DEPRECIATION

At 1 July 2018

and 30 June 2019

15,472

NET BOOK VALUE

At 30 June 2019

1

At 30 June 2018

1

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 July 2018

and 30 June 2019

688,200

NET BOOK VALUE

At 30 June 2019

688,200

At 30 June 2018

688,200

The historical cost of the investment property at 30th June 2019 was £108,337 (2018 £108,337).

Fair value at 30 June 2019 is represented by:

£

Valuation in 2019

688,200

The valuation of the investment property was carried out by J A Farrell, a director of the company, on 30th June

2019.

6.

DEBTORS

30.6.19

30.6.18

£

£

Amounts falling due within one year:

Trade debtors

1,650

1,650

Other debtors

3,697

-

5,347

1,650

Amounts falling due after more than one year:

Trade debtors

327,795

327,748

Aggregate amounts

333,142

329,398

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.19

30.6.18

£

£

Taxation and social security

-

807

Other creditors

7,404

8,063

7,404

8,870

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.19

30.6.18

value:

£

£

100

Ordinary

£1

100

100

9.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

£

£

At 1 July 2018

462,564

604,707

1,067,271

Deficit for the year

(13,204

)

(13,204

)

At 30 June 2019

449,360

604,707

1,054,067

10.	RELATED PARTY TRANSACTIONS

Trade debtors include amounts of £327,353 (2018 £327,353) due from Castle Combe Estates Limited, a

company in which J A Farrell and M T Farrell each holds 50% of the issued share capital.

11.	CONTROLLING PARTY

The controlling party is J A Farrell by virtue of his ownership of 51% of the issued ordinary share capital of the

company.