REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 December 2019 |
for |
68 Property Management Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 December 2019 |
for |
68 Property Management Limited |
68 Property Management Limited (Registered number: 09152793) |
Contents of the Financial Statements |
for the Year Ended 31 December 2019 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
68 Property Management Limited |
Company Information |
for the Year Ended 31 December 2019 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
8 Deben Mill Business Centre |
Old Maltings Approach |
Woodbridge |
Suffolk |
IP12 1BL |
68 Property Management Limited (Registered number: 09152793) |
Abridged Balance Sheet |
31 December 2019 |
31.12.19 | 31.12.18 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
5 |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
68 Property Management Limited (Registered number: 09152793) |
Abridged Balance Sheet - continued |
31 December 2019 |
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 Board of Directors and authorised for issue on were signed on its behalf by: |
68 Property Management Limited (Registered number: 09152793) |
Notes to the Financial Statements |
for the Year Ended 31 December 2019 |
1. | STATUTORY INFORMATION |
68 Property Management Limited is a |
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 |
Turnover |
The turnover represents net invoiced sales of services, excluding value added tax, arising from rental income. |
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. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and |
Retained Earnings, 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 |
68 Property Management Limited (Registered number: 09152793) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2019 |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 January 2019 |
Additions |
Revaluations | 15,000 |
At 31 December 2019 |
NET BOOK VALUE |
At 31 December 2019 |
At 31 December 2018 |
Fair value at 31 December 2019 is represented by: |
£ |
Valuation in 2019 | 15,000 |
Cost | 165,181 |
180,181 |
If investment property had not been revalued it would have been included at the following historical cost: |
31.12.19 | 31.12.18 |
£ | £ |
Cost | 165,181 | 75,929 |
Investment property was valued on an open market value basis on 31 December 2019 by the directors. . |
5. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS |
31.12.19 | 31.12.18 |
£ | £ |
Repayable otherwise than by instalments |
Bank loans more 5 yrs non-inst |
6. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 31 December 2019 and |
31 December 2018: |
31.12.19 | 31.12.18 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
68 Property Management Limited (Registered number: 09152793) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2019 |
7. | ULTIMATE CONTROLLING PARTY |
The controlling party is E J Frost. |