Linksky Property Management Limited Company Accounts

Linksky Property Management Limited Company Accounts


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COMPANY REGISTRATION NUMBER: 02454233
Linksky Property Management Limited
Filleted Unaudited Financial Statements
31 March 2017
Linksky Property Management Limited
Financial Statements
Year ended 31st March 2017
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Linksky Property Management Limited
Statement of Financial Position
31 March 2017
2017
2016
Note
£
£
£
£
Fixed assets
Intangible assets
4
7,791
7,791
Current assets
Debtors
5
220
Cash at bank and in hand
6,264
7,029
-------
-------
6,264
7,249
Creditors: amounts falling due within one year
6
4,142
3,842
-------
-------
Net current assets
2,122
3,407
-------
--------
Total assets less current liabilities
9,913
11,198
-------
--------
Net assets
9,913
11,198
-------
--------
Capital and reserves
Called up share capital
6
6
Capital redemption reserve
6,983
6,983
Profit and loss account
2,924
4,209
-------
--------
Members funds
9,913
11,198
-------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31st March 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Linksky Property Management Limited
Statement of Financial Position (continued)
31 March 2017
These financial statements were approved by the board of directors and authorised for issue on 19 October 2017 , and are signed on behalf of the board by:
Mr M J Basso
Mr L Caplan
Director
Director
Company registration number: 02454233
Linksky Property Management Limited
Notes to the Financial Statements
Year ended 31st March 2017
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 16 Ringley Mount, Ringley Hey Whitefield, Manchester, M45 7NU, United kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1st April 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 8.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are recorded at the fair value at the acquisition date.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
4. Intangible assets
Development costs
£
Cost
At 1st April 2016 and 31st March 2017
7,791
-------
Amortisation
At 1st April 2016 and 31st March 2017
-------
Carrying amount
At 31st March 2017
7,791
-------
5. Debtors
2017
2016
£
£
Trade debtors
220
----
----
6. Creditors: amounts falling due within one year
2017
2016
£
£
Other creditors
4,142
3,842
-------
-------
7. Related party transactions
The company was not under the control of any shareholder throughout the current and previous year. Mr M Basso and Mr L Caplan are the directors No transactions with related parties were undertaken such as are required to be disclosed under FRS 102 Section 1A.
8. Transition to FRS 102
These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1st April 2015.
No transitional adjustments were required in equity or profit or loss for the year.