Face 2 Face Estate Agents Ltd - Accounts to registrar (filleted) - small 18.2

Face 2 Face Estate Agents Ltd - Accounts to registrar (filleted) - small 18.2

FACE 2 FACE ESTATE AGENTS LTD - Company Information

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REGISTERED NUMBER: 05216807 (England and Wales)

















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

FOR

FACE 2 FACE ESTATE AGENTS LTD
FACE 2 FACE ESTATE AGENTS LTD (REGISTERED NUMBER: 05216807)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


FACE 2 FACE ESTATE AGENTS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2021







DIRECTOR: J Swire





REGISTERED OFFICE: Independent House
49-51 Church Street
Littleborough
OL15 8AB





REGISTERED NUMBER: 05216807 (England and Wales)





ACCOUNTANTS: Cresswells
12 Market Street
Hebden Bridge
West Yorkshire
HX7 6AD
Page 1
FACE 2 FACE ESTATE AGENTS LTD (REGISTERED NUMBER: 05216807)

BALANCE SHEET
31 MARCH 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 9,968 15,564

CURRENT ASSETS
Debtors 5 175,668 161,155
Cash at bank 57,732 -
233,400 161,155
CREDITORS
Amounts falling due within one year 6 65,561 73,510
NET CURRENT ASSETS 167,839 87,645
TOTAL ASSETS LESS CURRENT
LIABILITIES
177,807
103,209

CREDITORS
Amounts falling due after more than
one year
7
(56,353
)
(47,702
)

PROVISIONS FOR LIABILITIES (2,919 ) (2,433 )
NET ASSETS 118,535 53,074

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 118,533 53,072
SHAREHOLDERS' FUNDS 118,535 53,074

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 22 December 2021 and were signed by:



J Swire - Director


The notes form part of these financial statements

Page 2
FACE 2 FACE ESTATE AGENTS LTD (REGISTERED NUMBER: 05216807)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021

1. STATUTORY INFORMATION

Face 2 Face Estate Agents 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on cost and 20% on reducing balance

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Page 3 continued...
FACE 2 FACE ESTATE AGENTS LTD (REGISTERED NUMBER: 05216807)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2021

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2020 - 12 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2020
and 31 March 2021 123,544
DEPRECIATION
At 1 April 2020 107,980
Charge for year 5,596
At 31 March 2021 113,576
NET BOOK VALUE
At 31 March 2021 9,968
At 31 March 2020 15,564

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 April 2020
and 31 March 2021 16,545
DEPRECIATION
At 1 April 2020 4,136
Charge for year 2,074
At 31 March 2021 6,210
NET BOOK VALUE
At 31 March 2021 10,335
At 31 March 2020 12,409

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Amounts owed by group undertakings 168,755 161,155
Other debtors 6,913 -
175,668 161,155

Page 4 continued...
FACE 2 FACE ESTATE AGENTS LTD (REGISTERED NUMBER: 05216807)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2021

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Bank loans and overdrafts - 12,770
Trade creditors 9,912 6,318
Taxation and social security 44,016 25,153
Other creditors 11,633 29,269
65,561 73,510

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2021 2020
£    £   
Hire purchase contracts 6,353 9,178
Other creditors 50,000 38,524
56,353 47,702

8. SECURED DEBTS

The following secured debts are included within creditors:

2021 2020
£    £   
Hire purchase contracts 6,353 9,178

9. RELATED PARTY DISCLOSURES

During the year the company paid dividends to its director of £22,000.


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