New Future Properties Limited - Accounts to registrar (filleted) - small 18.2

New Future Properties Limited - Accounts to registrar (filleted) - small 18.2

NEW FUTURE PROPERTIES LIMITED - Company Information

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REGISTERED NUMBER: 05328760 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 January 2018

for

New Future Properties Limited
New Future Properties Limited (Registered number: 05328760)






Contents of the Financial Statements
for the Year Ended 31 January 2018




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


New Future Properties Limited

Company Information
for the Year Ended 31 January 2018







DIRECTORS: P Rowley
G Szilagy
R J Moore
R G Lowe





SECRETARY: R G Lowe





REGISTERED OFFICE: The Quay
No12. Princes Parade
Liverpool Waters
Liverpool
Merseyside
L3 1BG





REGISTERED NUMBER: 05328760 (England and Wales)





ACCOUNTANTS: Wilson Henry LLP
145 Edge Lane
Liverpool
Merseyside
L7 2PF
Page 1
New Future Properties Limited (Registered number: 05328760)

Balance Sheet
31 January 2018

2018 2017
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 395,000 328,747

CURRENT ASSETS
Debtors 5 1,772 1,729
Cash at bank 1,906 7,925
3,678 9,654
CREDITORS
Amounts falling due within one year 6 2,380 1,240
NET CURRENT ASSETS 1,298 8,414
TOTAL ASSETS LESS CURRENT
LIABILITIES
396,298
337,161

CREDITORS
Amounts falling due after more than one
year
7
(341,088
)
(341,026
)

PROVISIONS FOR LIABILITIES (12,588 ) -
NET ASSETS/(LIABILITIES) 42,622 (3,865 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 8 42,522 (3,965 )
SHAREHOLDERS' FUNDS 42,622 (3,865 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2018 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 notes form part of these financial statements

Page 2 continued...
New Future Properties Limited (Registered number: 05328760)

Balance Sheet - continued
31 January 2018


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 29 October 2018 and were signed on its
behalf by:





G Szilagy - Director


The notes form part of these financial statements

Page 3
New Future Properties Limited (Registered number: 05328760)

Notes to the Financial Statements
for the Year Ended 31 January 2018

1. STATUTORY INFORMATION

New Future Properties 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the year.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from
changes in fair value is recognised in profit or loss.

Investment property is initially recognised at cost, then subsequently measured at fair value at each
reporting date with changes in fair value recognised in profit or loss.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2017 - 4 ) .

Page 4 continued...
New Future Properties Limited (Registered number: 05328760)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2018

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2017 328,747
Revaluations 66,253
At 31 January 2018 395,000
NET BOOK VALUE
At 31 January 2018 395,000
At 31 January 2017 328,747

Fair value at 31 January 2018 is represented by:

£   
Valuation in 2018 66,253
Cost 328,747
395,000

Investment properties were valued on an open market basis on 28 September 2018 by the directors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Tax 1,142 1,134
Prepayments 630 595
1,772 1,729

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Director's current accounts 100 100
Accrued expenses 2,280 1,140
2,380 1,240

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2018 2017
£    £   
Bank Loans due after more than 12
months
341,088
341,026

Page 5 continued...
New Future Properties Limited (Registered number: 05328760)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2018

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2018 2017
£    £   
Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank Loans due after more than 12
months
341,088
341,026

8. RESERVES

Retained earnings includes £53,665 of non-distributable reserves. This includes £66,253 gains less
£12,588 deferred tax relating to the revaluation of Investment Properties.

Page 6