Bargate Properties Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 05740997 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2017

FOR

BARGATE PROPERTIES LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Miss L Fisher

SECRETARY:

Wright & Co Partnership Limited

REGISTERED OFFICE:

The Squires

5 Walsall Street

Wednesbury

West Midlands

WS10 9BZ

REGISTERED NUMBER:

05740997 (England and Wales)

ACCOUNTANTS:

Wright & Co Partnership Limited

Chartered Accountants

5 Walsall Street

Wednesbury

West Midlands

WS10 9BZ

FIXED ASSETS

Tangible assets

4

1,586

661

CURRENT ASSETS

Stocks

165,000

213,837

Debtors

6,548

6,548

Cash at bank and in hand

103,421

2,994

274,969

223,379

CREDITORS

Amounts falling due within one year

169,169

99,172

NET CURRENT ASSETS

105,800

124,207

TOTAL ASSETS LESS CURRENT LIABILITIES

107,386

124,868

CREDITORS

Amounts falling due after more than one year

76,199

122,531

NET ASSETS

31,187

2,337

CAPITAL AND RESERVES

Called up share capital

5

1

1

Retained earnings

6

31,186

2,336

SHAREHOLDERS' FUNDS

31,187

2,337

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2017 in accordance with Section 444(2A) of the Companies Act 2006.

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 on 21 July 2017 and were signed by:

Miss L Fisher - Director

1.	STATUTORY INFORMATION

Bargate Properties Limited 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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.

Plant and machinery etc

-

33% on cost, 25% on reducing balance and 15% on reducing balance

Stocks

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

items.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2016

2,209

Additions

1,848

At 31 March 2017

4,057

DEPRECIATION

At 1 April 2016

1,548

Charge for year

923

At 31 March 2017

2,471

NET BOOK VALUE

At 31 March 2017

1,586

At 31 March 2016

661

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

1

Ordinary

£1

1

1

6.

RESERVES

Retained

earnings

£

At 1 April 2016

2,336

Profit for the year

33,850

Dividends

(5,000

)

At 31 March 2017

31,186

7.	ULTIMATE CONTROLLING PARTY

The company was controlled throughout the year by Miss L Fisher, a director, by virtue of her ownership of 100% of the

company's issued share capital.

8.	FIRST YEAR ADOPTION

These are the company's first financial statements prepared in accordance with FRS 102, the Financial Reporting Standard

applicable to the UK and Republic of Ireland. Previously they were prepared in accordance with the previous UK GAAP.

The policies applied under the entity's previous accounting framework are not materially different to FRS 102 and have not

impacted on equity or profit and loss.