Firstshop Limited - Accounts to registrar (filleted) - small 18.2
Firstshop Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| FIRSTSHOP LIMITED |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2018 |
| FIRSTSHOP LIMITED (REGISTERED NUMBER: 03363460) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 JUNE 2018 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 4 |
| FIRSTSHOP LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 30 JUNE 2018 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| The Exchange |
| 5 Bank Street |
| Bury |
| BL9 0DN |
| FIRSTSHOP LIMITED (REGISTERED NUMBER: 03363460) |
| STATEMENT OF FINANCIAL POSITION |
| 30 JUNE 2018 |
| 2018 | 2017 |
| Notes | £ | £ |
| FIXED ASSETS |
| Investment property | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 | ( |
) | ( |
) |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Share premium |
| Other reserves |
| 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. |
| FIRSTSHOP LIMITED (REGISTERED NUMBER: 03363460) |
| STATEMENT OF FINANCIAL POSITION - continued |
| 30 JUNE 2018 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the director on |
| FIRSTSHOP LIMITED (REGISTERED NUMBER: 03363460) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 JUNE 2018 |
| 1. | STATUTORY INFORMATION |
| Firstshop Limited is a private company, limited by shares, registered in England and Wales. The company's |
| registered number is 03363460 and its registered office is 20 Aldwych Avenue, Rusholme, Manchester, M14 |
| 5NL. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The director has considered the business risks and believes that the company is well placed to manage these risks |
| successfully, thus the going concern basis of accounting has been adopted in preparing these financial statements. |
| Critical accounting estimates and judgements |
| In the application of the companies accounting policies, the director is required to make estimates and |
| judgements. The estimates are based on historical experience and other relevant factors. Actual results may differ |
| from these statements. |
| Estimating the value of investment property is considered to be a key judgement. |
| Revenue recognition |
| Revenue comprises the aggregate of the fair value of the rental services provided. Revenue is recognised as those |
| services are provided to the occupants of the properties. |
| Investment property |
| Investment properties are recognised at fair value. Revaluation surpluses are recognised in the income statement. |
| Deferred taxation is provided on these gains at the rate expected to apply when the property is sold. |
| Financial instruments |
| The company only enters into basic financial instruments transactions that result in the recognition of financial |
| assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third |
| parties and loans to related parties. |
| 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 income statement. |
| Basic financial liabilities are initially measured at transaction price and subsequently measured at amortised cost, |
| being the transaction price less any amounts settled. |
| 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 statement of financial position date. |
| FIRSTSHOP LIMITED (REGISTERED NUMBER: 03363460) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 JUNE 2018 |
| 2. | ACCOUNTING POLICIES - continued |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
| statement of financial position 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. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 July 2017 |
| Additions |
| At 30 June 2018 |
| NET BOOK VALUE |
| At 30 June 2018 |
| At 30 June 2017 |
| Fair value at 30 June 2018 is represented by: |
| £ |
| Valuation in 2017 | 64,430 |
| Cost | 119,470 |
| 183,900 |
| Investment properties were valued by Bilfinger GVA, property consultants, in September 2016. |
| The director valued the properties as at 30 June 2018 at the same carrying value. |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Amounts due from related parties |
| Amounts due from fellow subsidiaries |
| FIRSTSHOP LIMITED (REGISTERED NUMBER: 03363460) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 JUNE 2018 |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Trade creditors |
| Corporation tax |
| Amounts due from holding company | 103,031 | 110,246 |
| Amounts due from ultimate holding company |
11,354 |
- |
| Amounts due to fellow subsidiaries |
| Amounts due to related party |
| 7. | SECURED DEBTS |
| There is a fixed charge on the company's property. |
| 8. | DIVIDENDS |
| During the prior year when dividends were paid the director was not aware that there were insufficient profits |
| available for distribution and the directors acknowledge that no further distributions can be made until there are |
| profits sufficiently available for that purpose. |