Barclay Property Lettings Limited - Filleted accounts

Barclay Property Lettings Limited - Filleted accounts

BARCLAY PROPERTY LETTINGS LIMITED - Company Information

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Registered number
08357973
Barclay Property Lettings Limited
Filleted Accounts
31 January 2017
Barclay Property Lettings Limited
Registered number: 08357973
Balance Sheet
as at 31 January 2017
Notes 2017 2016
£ £
Current assets
Debtors 2 108 164
Cash at bank and in hand 230 794
338 958
Creditors: amounts falling due within one year 3 (1,456) (1,380)
Net current liabilities (1,118) (422)
Net liabilities (1,118) (422)
Capital and reserves
Called up share capital 1 1
Profit and loss account (1,119) (423)
Shareholders' funds (1,118) (422)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
John Michael Fraser Walker
Director
Approved by the board on 11 October 2017
Barclay Property Lettings Limited
Notes to the Accounts
for the year ended 31 January 2017
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover represents the value of work carried out in respect of services provided to customers.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (i.e. liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Debtors 2017 2016
£ £
Other debtors 108 164
3 Creditors: amounts falling due within one year 2017 2016
£ £
Client Ledger Balances 201 281
Directors loan account 760 604
Other creditors 495 495
1,456 1,380
4 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
John Michael Fraser Walker
Directors loan account 604 - 156 760
604 - 156 760
5 Related party transactions
John Michael Fraser Walker held a directors account during the year. The balance at the year end was £760 (2016: £604). This loan is interest free and repayable on demand.
6 Controlling party
The company in under the ultimate control of the director Mr John Michael Fraser Walker by virtue of his 100% holding of the companys issued share capital.
7 Going Concern
The accounts have been prepared on the going concern basis as the director has undertaken to fully support the company.
8 Other information
Barclay Property Lettings Limited is a private company limited by shares and incorporated in England. Its registered office is:
11 Bents Lane
Dronfield
Derbyshire
S18 2EW
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