1st Choice Housing Limited - Period Ending 2019-12-31
1st Choice Housing Limited - Period Ending 2019-12-31
Registration number:
1st Choice Housing Limited
(A company limited by guarantee)
for the Period from 17 May 2019 to 31 December 2019
1st Choice Housing Limited
Contents
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Company Information |
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Accountants' Report |
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Balance Sheet |
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Notes to the Financial Statements |
1st Choice Housing Limited
Company Information
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Directors |
M D Coulson L D Cotterill |
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Company secretary |
E Johnson |
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Registered office |
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Bankers |
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Accountants |
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Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
1st Choice Housing Limited
for the Period Ended 31 December 2019
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of 1st Choice Housing Limited for the period ended 31 December 2019 as set out on pages 3 to 5 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made solely to the Board of Directors of 1st Choice Housing Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of 1st Choice Housing Limited and state those matters that we have agreed to state to the Board of Directors of 1st Choice Housing Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than 1st Choice Housing Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that 1st Choice Housing Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of 1st Choice Housing Limited. You consider that 1st Choice Housing Limited is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the accounts of 1st Choice Housing Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Millennium Way
Pride Park
Derby
DE24 8HG
1st Choice Housing Limited
(Registration number: 12001770)
Balance Sheet as at 31 December 2019
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Note |
31.12.2019 |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net liabilities |
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Capital and reserves |
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Profit and loss account |
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Total equity |
( |
For the financial period ending 31 December 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
Director
1st Choice Housing Limited
Notes to the Financial Statements for the Period from 17 May 2019 to 31 December 2019
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General information |
The company is a company limited by guarantee, incorporated in England, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.
The address of the registered office is given in the company information on page 1 of the financial statements.
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statements are presented in Sterling (£) and rounded to the nearest £1.
Going concern
The emergence of the global pandemic known as Covid-19 has raised significant uncertainty throughout the UK economy since the balance sheet date. The Company is working closely with customers and suppliers to review their plans and expected activities in the coming months.
Consideration has been given to the risks of reduced turnover, slow payment or non-payment of debts and other assets owned by the company. The going concern of the business will be dependent on achieving minimum income projections as well as on the continued financial support of the related parties not requiring the withdrawal of the monies owed to them until sufficient funds are available.
Based on the information available and using a reasonable range of assumptions, the business can continue as a going concern and the accounts have been prepared on this basis.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
1st Choice Housing Limited
Notes to the Financial Statements for the Period from 17 May 2019 to 31 December 2019
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Staff numbers |
The average number of persons employed by the company (including directors) during the period, was
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Debtors |
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2019 |
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Trade debtors |
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Other debtors |
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Creditors |
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2019 |
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Due within one year |
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Trade creditors |
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Other creditors |
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