Source Specialist Property Finance Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 12200427 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

11 SEPTEMBER 2019 TO 30 SEPTEMBER 2020

FOR

SOURCE SPECIALIST PROPERTY FINANCE LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

R J French

S Hughes

T Hughes

REGISTERED OFFICE:

Moundsmere

West End Lane

Henfield

West Sussex

BN5 9RB

REGISTERED NUMBER:

12200427 (England and Wales)

ACCOUNTANTS:

Galloways Accounting

Atlas Chambers

33 West Street

Brighton

East Sussex

BN1 2RE

CURRENT ASSETS

Cash at bank and in hand

60,484

CREDITORS

Amounts falling due within one year

4

2,574

NET CURRENT ASSETS

57,910

TOTAL ASSETS LESS CURRENT LIABILITIES

57,910

CREDITORS

Amounts falling due after more than one year

5

50,000

NET ASSETS

7,910

CAPITAL AND RESERVES

Called up share capital

3

Retained earnings

7,907

7,910

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 September 2020.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 September 2020 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 October 2020 and were signed on its behalf by:

T Hughes - Director

1.	STATUTORY INFORMATION

Source Specialist Property Finance Ltd 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.

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.

Turnover

Turnover is measured at the fair value of the commission received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and

Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly

in equity.

Deferred tax

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

sheet date.

Going concern

The directors do not anticipate that the recent COVID-19 outbreak will affect the company's ability to continue to

trade. The company continues to adopt the going concern basis in preparing its financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL.

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Taxation and social security

1,855

Other creditors

719

2,574

5.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Bank loans

50,000