ACCOUNTS - Final Accounts

SURBITON PARK LAUNDRY COMPANY,LIMITED(THE) - Company Information

Caseware UK (AP4) 2018.0.111 2018.0.111 2018-03-312018-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truefalseNo description of principal activityfalse2017-04-01 00057521 2017-04-01 2018-03-31 00057521 2018-03-31 00057521 2016-04-01 2017-03-31 00057521 2017-03-31 00057521 c:CompanySecretary1 2017-04-01 2018-03-31 00057521 c:Director1 2017-04-01 2018-03-31 00057521 c:Director2 2017-04-01 2018-03-31 00057521 c:RegisteredOffice 2017-04-01 2018-03-31 00057521 d:FurnitureFittings 2017-04-01 2018-03-31 00057521 d:FurnitureFittings 2018-03-31 00057521 d:FurnitureFittings 2017-03-31 00057521 d:FurnitureFittings d:OwnedOrFreeholdAssets 2017-04-01 2018-03-31 00057521 d:FreeholdInvestmentProperty 2018-03-31 00057521 d:FreeholdInvestmentProperty 2017-03-31 00057521 d:CurrentFinancialInstruments 2018-03-31 00057521 d:CurrentFinancialInstruments 2017-03-31 00057521 d:Non-currentFinancialInstruments 2018-03-31 00057521 d:Non-currentFinancialInstruments 2017-03-31 00057521 d:Non-currentFinancialInstruments 1 2018-03-31 00057521 d:Non-currentFinancialInstruments 1 2017-03-31 00057521 d:CurrentFinancialInstruments d:WithinOneYear 2018-03-31 00057521 d:CurrentFinancialInstruments d:WithinOneYear 2017-03-31 00057521 d:Non-currentFinancialInstruments d:AfterOneYear 2018-03-31 00057521 d:Non-currentFinancialInstruments d:AfterOneYear 2017-03-31 00057521 d:ShareCapital 2018-03-31 00057521 d:ShareCapital 2017-03-31 00057521 d:RetainedEarningsAccumulatedLosses 2018-03-31 00057521 d:RetainedEarningsAccumulatedLosses 2017-03-31 00057521 d:AcceleratedTaxDepreciationDeferredTax 2018-03-31 00057521 c:FRS102 2017-04-01 2018-03-31 00057521 c:AuditExempt-NoAccountantsReport 2017-04-01 2018-03-31 00057521 c:FullAccounts 2017-04-01 2018-03-31 00057521 c:PrivateLimitedCompanyLtd 2017-04-01 2018-03-31 iso4217:GBP xbrli:pure

Company registration number: 00057521

	UNAUDITED FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 MARCH 2018

	THE SURBITON PARK LAUNDRY COMPANY LIMITED


THE SURBITON PARK LAUNDRY COMPANY LIMITED

COMPANY INFORMATION

Directors	Mrs O H Pearce
	Mr I H Pearce


Company secretary	Mrs O H Pearce


Registered number	00057521


Registered office	The Dell
	Hurst Lane
	Egham
	Surrey
	TW20 8QJ


Accountants	Menzies LLP
	Chartered Accountants
	Centrum House
	36 Station Road
	Egham
	Surrey
	TW20 9LF


THE SURBITON PARK LAUNDRY COMPANY LIMITED

CONTENTS

	Page
Statement of financial position	1 - 2
Notes to the financial statements	3 - 8


THE SURBITON PARK LAUNDRY COMPANY LIMITED REGISTERED NUMBER:00057521

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2018

		2018		2017
Note		£		£

Fixed assets
Tangible assets	4		399		474
Investment property	5		1,100,000		1,100,000
			1,100,399		1,100,474
Current assets
Debtors: falling due within one year	6	19,351		18,724
Cash at bank and in hand		73,389		54,887
		92,740		73,611
Creditors: falling due within one year	7	(54,695)		(46,738)
Net current assets			38,045		26,873
Total assets less current liabilities			1,138,444		1,127,347
Creditors: falling due after more than one year	8		(31,555)		(34,255)
Provisions for liabilities
Deferred tax	9	(181,501)		(181,501)
			(181,501)		(181,501)
Net assets			925,388		911,591

Capital and reserves
Called up share capital	1,000	1,000
Profit and loss account	924,388	910,591
	925,388	911,591

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

.The 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 the provisions of FRS 102 Section 1A - small entities.

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

Mrs O H Pearce

Director

Page 1


THE SURBITON PARK LAUNDRY COMPANY LIMITED REGISTERED NUMBER:00057521

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 MARCH 2018

Date: 9 October 2018

Page 2


THE SURBITON PARK LAUNDRY COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

1.	General information

The Surbiton Park Laundry Company Limited is a private company limited by shares. The address of the registered office is given in the company information page of these financial statements, which is also the principal place of business.
The financial statements are presented in sterling which is the functional currency of the company and rounded to
the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These
policies have been consistently applied to all years presented unless otherwise stated.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is generated via rents and commissions receivable and is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

2.3

Tangible fixed assets

Tangible fixed assets under the cost model, other than investment properties, are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings

15% Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of income and retained earnings.

2.4

Investment property

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of income and retained earnings.

Page 3


THE SURBITON PARK LAUNDRY COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

2.Accounting policies (continued)

2.5

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and 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 Statement of income and retained earnings.

2.6

Provisions for liabilities

Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to the Statement of income and retained earnings in the year that the company becomes aware of the obligation, and are measured at the best estimate at the Statement of financial position 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 Statement of financial position.

Page 4


THE SURBITON PARK LAUNDRY COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

2.Accounting policies (continued)

2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of income and retained earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Statement of financial position date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Employees

The average monthly number of employees, including directors, during the year was 2 (2017 - 2).

Page 5


THE SURBITON PARK LAUNDRY COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

4.	Tangible fixed assets

		Fixtures and fittings
		£
	Cost or valuation
	At 1 April 2017	2,187
	At 31 March 2018	2,187
	Depreciation
	At 1 April 2017	1,713
	Charge for the year on owned assets	75
	At 31 March 2018	1,788
	Net book value
	At 31 March 2018	399
	At 31 March 2017	474

5.	Investment property

		Freehold investment property
		£
	Valuation
	At 1 April 2017	1,100,000
	At 31 March 2018	1,100,000

The 2018 valuations were made by the directors, on an open market value for existing use basis.

Page 6


THE SURBITON PARK LAUNDRY COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

Debtors

					2018	2017
					£	£


Other debtors	14,417	13,917
Prepayments and accrued income	4,934	4,807
	19,351	18,724

7.	Creditors: Amounts falling due within one year
		2018	2017
		£	£

Corporation tax	10,273	8,265
Other taxation and social security	888	988
Other creditors	30,288	26,378
Accruals and deferred income	13,246	11,107
	54,695	46,738

8.	Creditors: Amounts falling due after more than one year
		2018	2017
		£	£

Other creditors	11,555	14,255
Share capital treated as debt	20,000	20,000
	31,555	34,255

Page 7


THE SURBITON PARK LAUNDRY COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

9.	Deferred taxation

		2018
		£

	At beginning of year	(181,501)
	Charged to profit or loss	-
	At end of year	(181,501)

	The provision for deferred taxation is made up as follows:
					2018
					£

	Deferred tax on revaluation reserve	(181,501)
		(181,501)

Page 8