The Property Studio (Barnet) Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 06820116 (England and Wales)

Financial Statements

for the Year Ended 30 April 2017

for

THE PROPERTY STUDIO (BARNET) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs B Joyce

Mr C Feltham

REGISTERED OFFICE:

42 Lytton Road

Barnet

Hertfordshire

EN5 5BY

REGISTERED NUMBER:

06820116 (England and Wales)

ACCOUNTANTS:

Jeff Lermer & Associates

Chartered Accountants

42 Lytton Road

Barnet

Hertfordshire

EN5 5BY

FIXED ASSETS

Tangible assets

4

1,203

1,604

CURRENT ASSETS

Debtors

5

17,676

13,853

Cash at bank and in hand

238,574

250,206

256,250

264,059

CREDITORS

Amounts falling due within one year

6

257,119

260,949

NET CURRENT (LIABILITIES)/ASSETS

(869

)

3,110

TOTAL ASSETS LESS CURRENT LIABILITIES

334

4,714

CAPITAL AND RESERVES

Called up share capital

7

200

200

Retained earnings

134

4,514

SHAREHOLDERS' FUNDS

334

4,714

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 24 January 2018 and were signed on its behalf by:

Mrs B Joyce - Director

Mr C Feltham - Director

1.	STATUTORY INFORMATION

The Property Studio (Barnet) 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.

These financial statements for the year ended 30 April 2017 are the first financial statements

of The property Studio (Barnet) Limited prepared in accordance with FRS 102, The Financial

Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to

FRS 102 was 1 May 2016.

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 May 2016

and 30 April 2017

11,799

DEPRECIATION

At 1 May 2016

10,195

Charge for year

401

At 30 April 2017

10,596

NET BOOK VALUE

At 30 April 2017

1,203

At 30 April 2016

1,604

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.17

30.4.16

£

£

Trade debtors

9,048

12,227

Prepayments and accrued income

8,628

1,626

17,676

13,853

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.17

30.4.16

£

£

Bank loans and overdrafts

5,705

-

Trade creditors

-

2,625

Tax

15,097

16,754

Social security and other taxes

1,095

2,473

VAT

8,778

12,629

Customer deposits held

220,870

222,359

Other creditors

74

32

Accrued expenses

5,500

4,077

257,119

260,949

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.17

30.4.16

value:

£

£

100

A Class Ordinary

£1

100

100

100

B Class Ordinary

£1

100

100

200

200

8.	RELATED PARTY DISCLOSURES

During the year, total dividends of £64,545 were paid to the directors .