Andra Sales (Gems) Limited Company accounts

Andra Sales (Gems) Limited Company accounts

ANDRA SALES (GEMS) LIMITED - Company Information

Print Friendly Version

false false false false false false false false false true false false false false false false false No description of principal activity 2017-04-01 Sage Accounts Production Advanced 2018 Update 1 - FRS 1,000,000 1,000,000 1,000,000 xbrli:pure xbrli:shares iso4217:GBP 01242571 2017-04-01 2018-03-31 01242571 2018-03-31 01242571 2016-04-01 2017-03-31 01242571 2017-03-31 01242571 bus:RegisteredOffice 2017-04-01 2018-03-31 01242571 bus:Director2 2017-04-01 2018-03-31 01242571 bus:Director3 2017-04-01 2018-03-31 01242571 core:RevaluationReserve 2016-04-01 2017-03-31 01242571 core:RetainedEarningsAccumulatedLosses 2016-04-01 2017-03-31 01242571 core:RetainedEarningsAccumulatedLosses 2017-04-01 2018-03-31 01242571 core:WithinOneYear 2018-03-31 01242571 core:WithinOneYear 2017-03-31 01242571 core:ShareCapital 2018-03-31 01242571 core:ShareCapital 2017-03-31 01242571 core:RevaluationReserve 2018-03-31 01242571 core:RevaluationReserve 2017-03-31 01242571 core:RetainedEarningsAccumulatedLosses 2018-03-31 01242571 core:RetainedEarningsAccumulatedLosses 2017-03-31 01242571 core:ShareCapital 2016-03-31 01242571 core:RevaluationReserve 2016-03-31 01242571 core:RetainedEarningsAccumulatedLosses 2016-03-31 01242571 core:RestatedAmount 2016-03-31 01242571 core:RestatedAmount 2017-03-31 01242571 core:LandBuildings 2018-03-31 01242571 core:LandBuildings 2017-03-31 01242571 bus:SmallEntities 2017-04-01 2018-03-31 01242571 bus:AuditExempt-NoAccountantsReport 2017-04-01 2018-03-31 01242571 bus:FullAccounts 2017-04-01 2018-03-31 01242571 bus:SmallCompaniesRegimeForAccounts 2017-04-01 2018-03-31 01242571 bus:PrivateLimitedCompanyLtd 2017-04-01 2018-03-31
COMPANY REGISTRATION NUMBER: 01242571
Andra Sales (Gems) Limited
Unaudited Financial Statements
31 March 2018
Andra Sales (Gems) Limited
Financial Statements
Year ended 31 March 2018
Contents
Page
Directors' report
1
Statement of comprehensive income
2
Statement of financial position
3
Statement of changes in equity
4
Notes to the financial statements
5
Andra Sales (Gems) Limited
Directors' Report
Year ended 31 March 2018
The directors present their report and the unaudited financial statements of the company for the year ended 31 March 2018 .
Directors
The directors who served the company during the year were as follows:
Mr E Tajtelbaum
Mrs S Tajtelbaum
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 27 June 2019 and signed on behalf of the board by:
Mr E Tajtelbaum
Director
Registered office:
Hallswelle House
1 Hallswelle Road
London
NW11 0DH
Andra Sales (Gems) Limited
Statement of Comprehensive Income
Year ended 31 March 2018
2018
2017
Note
£
£
Turnover
61,000
63,987
Property Outgoings
23,257
28,582
--------
--------
Gross profit
37,743
35,405
Administrative expenses
31,224
21,449
--------
--------
Operating profit
6,519
13,956
Other interest receivable and similar income
12
38
--------
--------
Profit before taxation
6,531
13,994
Tax on profit
–
–
-------
--------
Profit for the financial year
6,531
13,994
-------
--------
Revaluation of tangible assets
–
116,128
-------
---------
Total comprehensive income for the year
6,531
130,122
-------
---------
All the activities of the company are from continuing operations.
Andra Sales (Gems) Limited
Statement of Financial Position
31 March 2018
2018
2017
Note
£
£
£
Fixed assets
Tangible assets
5
1,000,000
1,000,000
Current assets
Debtors
6
29,878
36,714
Cash at bank and in hand
67,462
50,832
--------
--------
97,340
87,546
Creditors: amounts falling due within one year
7
935,563
932,300
---------
---------
Net current liabilities
838,223
844,754
------------
------------
Total assets less current liabilities
161,777
155,246
---------
---------
Capital and reserves
Called up share capital
100
100
Revaluation reserve
168,426
168,426
Profit and loss account
( 6,749)
( 13,280)
---------
---------
Shareholders funds
161,777
155,246
---------
---------
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 27 June 2019 , and are signed on behalf of the board by:
Mr E Tajtelbaum
Director
Company registration number: 01242571
Andra Sales (Gems) Limited
Statement of Changes in Equity
Year ended 31 March 2018
Called up share capital
Revaluation reserve
Profit and loss account
Total
Note
£
£
£
£
At 1 April 2016
100
52,298
( 27,274)
25,124
Profit for the year
13,994
13,994
Other comprehensive income for the year:
Revaluation of tangible assets
5
–
116,128
–
116,128
----
---------
--------
---------
Total comprehensive income for the year
–
116,128
13,994
130,122
At 31 March 2017
100
168,426
( 13,280)
155,246
Profit for the year
6,531
6,531
----
---------
--------
---------
Total comprehensive income for the year
–
–
6,531
6,531
----
---------
--------
---------
At 31 March 2018
100
168,426
( 6,749)
161,777
----
---------
--------
---------
Andra Sales (Gems) Limited
Notes to the Financial Statements
Year ended 31 March 2018
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Hallswelle House, 1 Hallswelle Road, London, NW11 0DH.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss. If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2017: 1 ).
5. Tangible assets
Land and buildings
£
Cost
At 1 April 2017 and 31 March 2018
1,000,000
------------
Depreciation
At 1 April 2017 and 31 March 2018
–
------------
Carrying amount
At 31 March 2018
1,000,000
------------
At 31 March 2017
1,000,000
------------
The company's investment properties were revalued by the director at open market value .
6. Debtors
2018
2017
£
£
Other debtors
29,878
36,714
--------
--------
7. Creditors: amounts falling due within one year
2018
2017
£
£
Other creditors
935,563
932,300
---------
---------
8. Parent company
The company is a wholly owned subsidiary of The Tajtelbaum Charitable Trust, a UK registered company.