Finchdean Ltd Accounts
Finchdean Ltd Accounts
Finchdean Ltd FILLETED ACCOUNTS COVER |
Company No. 10011892 | |||||||||
Finchdean Ltd DIRECTORS REPORT REGISTRAR |
The Directors present their report and the accounts for the period ended 28 February 2017. | |||||||||
Principal activities | |||||||||
The company was incorporated on 18 February 2016 and began trading on 21 March 2016. | |||||||||
Directors | |||||||||
The Directors who served at any time during the period were as follows: | |||||||||
I. Gorringe | |||||||||
Y. Mindel | |||||||||
Signed on behalf of the board | |||||||||
Y. Mindel | |||||||||
Director | |||||||||
19 October 2017 |
Finchdean Ltd BALANCE SHEET REGISTRAR |
at | ||||||||||
Company No. | Notes | 2017 | ||||||||
£ | ||||||||||
Fixed assets | ||||||||||
Investment property | 3 | |||||||||
Current assets | ||||||||||
Debtors | 4 | |||||||||
Cash at bank and in hand | ||||||||||
Creditors: Amount falling due within one year | 5 | ( | ||||||||
Net current liabilities | ( | |||||||||
Total assets less current liabilities | ||||||||||
Net assets | ||||||||||
Capital and reserves | ||||||||||
Called up share capital | ||||||||||
Profit and loss account | 6 | |||||||||
Total equity | ||||||||||
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account. | ||||||||||
Approved by the board on 19 October 2017 | ||||||||||
And signed on its behalf by: | ||||||||||
Y. Mindel | ||||||||||
Director | ||||||||||
19 October 2017 |
Finchdean Ltd NOTES TO THE ACCOUNTS REGISTRAR |
for the period ended 28 February 2017 | ||||||||||||||
1 | Accounting policies | |||||||||||||
Basis of preparation | ||||||||||||||
Turnover | ||||||||||||||
Revenue from the sale of goods is recognised when all the following conditions are satisfied: • the Company has transferred to the buyer the significant risks and rewards of ownership of the goods; • the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; • the amount of revenue can be measured reliably; • it is probable that the economic benefits associated with the transaction will flow to the Company; and • the costs incurred or to be incurred in respect of the transaction can be measured reliably. Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed. | ||||||||||||||
Taxation | ||||||||||||||
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively. | ||||||||||||||
Freehold investment property | ||||||||||||||
No depreciation is provided in respect of investment properties. | ||||||||||||||
Trade and other debtors | ||||||||||||||
Trade and other creditors | ||||||||||||||
Provisions | ||||||||||||||
Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. When payments are eventually made, they are charged to the provision carried in the balance sheet. | ||||||||||||||
2 | Employees | |||||||||||||
2017 | ||||||||||||||
Number | ||||||||||||||
The average number of persons employed during the period : | ||||||||||||||
3 | Investment property | |||||||||||||
Freehold Investment Property | ||||||||||||||
£ | ||||||||||||||
Valuation | ||||||||||||||
Additions | ||||||||||||||
At 28 February 2017 | ||||||||||||||
Freehold Investment Property | ||||||||||||||
4 | Debtors | |||||||||||||
2017 | ||||||||||||||
£ | ||||||||||||||
Other debtors | ||||||||||||||
5 | Creditors: | |||||||||||||
amounts falling due within one year | ||||||||||||||
2017 | ||||||||||||||
£ | ||||||||||||||
Corporation tax | ||||||||||||||
Loans from directors | ||||||||||||||
Other creditors | ||||||||||||||
6 | Reserves | |||||||||||||
7 | Related party disclosures | |||||||||||||
2017 | ||||||||||||||
Transactions with related parties | £ | |||||||||||||
Name of related party | ||||||||||||||
Description of relationship between the parties | Director | |||||||||||||
Description of transaction and general amounts involved | Loan to company | |||||||||||||
Amount due from/(to) the related party | (80,108) | |||||||||||||
Provision for doubtful debts due from the related party | - | |||||||||||||
Amounts written off in the period in respect of debts from/(to) the related party | - | |||||||||||||
Name of related party | ||||||||||||||
Description of relationship between the parties | Director | |||||||||||||
Description of transaction and general amounts involved | Loan to company | |||||||||||||
Amount due from/(to) the related party | (80,108) | |||||||||||||
Provision for doubtful debts due from the related party | - | |||||||||||||
Amounts written off in the period in respect of debts from/(to) the related party | - | |||||||||||||
Controlling parties | ||||||||||||||
Immediate controlling parties | I. Gorringe Y. Mindel | |||||||||||||
Ultimate controlling party | I. Gorringe Y. Mindel | |||||||||||||
8 | Additional information | |||||||||||||
Its registered number is: | ||||||||||||||
Its registered office is: | ||||||||||||||