Merse Properties Limited - Accounts to registrar (filleted) - small 17.3
Merse Properties Limited - Accounts to registrar (filleted) - small 17.3
| REGISTERED NUMBER: |
| Merse Properties Limited |
| Financial Statements |
| for the Year Ended 31st March 2017 |
| Merse Properties Limited (Registered number: 07393339) |
| Contents of the Financial Statements |
| for the year ended 31st March 2017 |
| Page |
| Company information | 1 |
| Balance sheet | 2 |
| Notes to the financial statements | 3 | to | 5 |
| Merse Properties Limited |
| Company Information |
| for the year ended 31st March 2017 |
| Director: |
| Secretary: |
| Registered office: |
| Registered number: |
| Accountants: |
| Academy House |
| Shedden Park Road |
| Kelso |
| Roxburghshire |
| TD5 7AL |
| Merse Properties Limited (Registered number: 07393339) |
| Balance Sheet |
| 31st March 2017 |
| 2017 | 2016 |
| Notes | £ | £ | £ | £ |
| Fixed assets |
| Investment property | 3 |
| Current assets |
| Debtors | 4 |
| Cash at bank |
| Creditors |
| Amounts falling due within one year | 5 |
| Net current assets |
| Total assets less current liabilities |
| Creditors |
| Amounts falling due after more than one year |
6 |
| Net assets |
| Capital and reserves |
| Called up share capital |
| Retained earnings |
| Shareholders' funds |
| 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. |
| In accordance with Section 444 of the Companies Act 2006, the Statement of income and retained earnings has not been delivered. |
| The financial statements were approved by the director on |
| Merse Properties Limited (Registered number: 07393339) |
| Notes to the Financial Statements |
| for the year ended 31st March 2017 |
| 1. | Statutory information |
| Merse Properties Limited is a |
| 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 |
| Changes in accounting policies |
| The principal accounting policies adopted in the preparation of the financial statements are set out |
| below. |
| The financial statements for the year ended 31st March 2017 are the first financial statements that |
| comply with FRS 102 Section 1A for small entities. The date of transition is 1st April 2015. |
| There has been no impact to the financial statements on the transition date. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable and represents |
| amounts receivable for goods supplied and services rendered, stated net of discounts and of Value |
| Added Tax. |
| Income is recognised when goods have been delivered to customers such that risks and rewards of |
| ownership have transferred to them. |
| Investment property |
| Investment property is shown at the most recent valuation by the director. Any aggregate surplus or |
| deficit arising from changes in fair value is recognised in profit and loss. |
| Financial instruments |
| The following assets and liabilities are classified as financial instruments - trade debtors, trade |
| creditors and directors' loans. |
| Directors' loans (being repayable on demand), trade debtors and trade creditors are measured at the |
| undiscounted amount of the cash or other consideration expected to be paid or received. |
| Financial assets that are measured at amortised cost are assessed at the end of each reporting period |
| for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss |
| is recognised in the Income Statement. |
| 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. |
| Merse Properties Limited (Registered number: 07393339) |
| Notes to the Financial Statements - continued |
| for the year ended 31st March 2017 |
| 2. | Accounting policies - continued |
| 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. |
| Provisions are set up only where it is probable that a present obligation exists as a result of an event |
| prior to the balance sheet date and that a payment will be required in settlement that can be estimated |
| reliably. Where material, provisions are calculated on a discounted basis. |
| The director has considered the company's financial position for a period of 12 months from the date |
| of signing these financial statements and has reasonable expectation that the company has adequate |
| resources to continue in operational existence for the foreseeable future. Accordingly, he continues to |
| adopt the going concern basis in preparing these financial statements. |
| 3. | Investment property |
| Total |
| £ |
| Fair value |
| At 1st April 2016 |
| Additions |
| At 31st March 2017 |
| Net book value |
| At 31st March 2017 |
| At 31st March 2016 |
| 4. | Debtors: amounts falling due within one year |
| 2017 | 2016 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 5. | Creditors: amounts falling due within one year |
| 2017 | 2016 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| Merse Properties Limited (Registered number: 07393339) |
| Notes to the Financial Statements - continued |
| for the year ended 31st March 2017 |
| 6. | Creditors: amounts falling due after more than one year |
| 2017 | 2016 |
| £ | £ |
| Other creditors |