FSG Property Services Limited - Accounts to registrar (filleted) - small 18.2
FSG Property Services Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2018 |
| FOR |
| FSG PROPERTY SERVICES LIMITED |
| FSG PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 04521341) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 AUGUST 2018 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| FSG PROPERTY SERVICES LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 AUGUST 2018 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Chartered Accountants & Registered Auditors |
| Office 36 |
| Vienna House |
| Birmingham International Park |
| Solihull |
| B37 7GN |
| FSG PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 04521341) |
| BALANCE SHEET |
| 31 AUGUST 2018 |
| 31.8.18 | 31.8.17 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 10 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 11 |
| Share premium |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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 |
| FSG PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 04521341) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 AUGUST 2018 |
| 1. | STATUTORY INFORMATION |
| FSG Property Services 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 |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
| value added tax and other sales taxes. |
| Tangible fixed assets |
| Plant and machinery | - |
| Office equipment | - |
| Motor vehicles | - |
| Stocks |
| Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance |
| for obsolete and slow moving items. |
| Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in |
| bringing stocks to their present location and condition. |
| 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. |
| FSG PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 04521341) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 AUGUST 2018 |
| 2. | ACCOUNTING POLICIES - continued |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held |
| under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases |
| are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element |
| of the future payments is treated as a liability. |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
| lease. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
| scheme are charged to profit or loss in the period to which they relate. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | AUDITORS' REMUNERATION |
| 31.8.18 | 31.8.17 |
| £ | £ |
| Fees payable to the company's auditors for the audit of the company's financial statements |
6,000 |
6,000 |
| 5. | TANGIBLE FIXED ASSETS |
| Short | Plant and | Office | Motor |
| leasehold | machinery | equipment | vehicles | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 September 2017 |
| Additions |
| At 31 August 2018 |
| DEPRECIATION |
| At 1 September 2017 |
| Charge for year |
| At 31 August 2018 |
| NET BOOK VALUE |
| At 31 August 2018 |
| At 31 August 2017 |
| FSG PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 04521341) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 AUGUST 2018 |
| 5. | TANGIBLE FIXED ASSETS - continued |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Motor |
| vehicles |
| £ |
| COST |
| At 1 September 2017 |
| and 31 August 2018 |
| DEPRECIATION |
| At 1 September 2017 |
| Charge for year |
| At 31 August 2018 |
| NET BOOK VALUE |
| At 31 August 2018 |
| At 31 August 2017 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.8.18 | 31.8.17 |
| £ | £ |
| Trade debtors |
| Amounts owed by participating interests | 3,145,356 | 1,385,604 |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.8.18 | 31.8.17 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.8.18 | 31.8.17 |
| £ | £ |
| Bank loans |
| Hire purchase contracts |
| Other creditors |
| FSG PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 04521341) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 AUGUST 2018 |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 31.8.18 | 31.8.17 |
| £ | £ |
| Bank loans |
| Loan notes | 500,000 | - |
| Loan notes are secured by way of a fixed charge on the company' assets. |
| 10. | PROVISIONS FOR LIABILITIES |
| 31.8.18 | 31.8.17 |
| £ | £ |
| Deferred tax |
| Accelerated capital allowances |
| Deferred |
| tax |
| £ |
| Balance at 1 September 2017 |
| Provided during year | ( |
) |
| Balance at 31 August 2018 |
| 11. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
Number |
Class |
Nominal Value |
31.8.18 |
31.8.17 |
| 478 | Ordinary Shares | £0.01 | 4.78 | 4 |
| 300 | Ordinary B Shares | £0.01 | 3.00 | 3 |
| 250 | Preference Shares | £0.01 | 2.50 | - |
| 10.28 | 7 |
| Ordinary shares and Ordinary B shares were sub divided into £0.01 per share. |
| 478 Ordinary shares of £0.01 each were issued and fully paid at par. |
| 300 Ordinary B shares of £0.01 each were issued and fully paid at par. |
| 250 Preference shares of £0.01 each were allotted as fully paid at a premium of £997.50 per share during the |
| year. |
| 12. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| FSG PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 04521341) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 AUGUST 2018 |
| 13. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| Other loans are secured by way of personal guarantees provided by the directors. |
| 14. | RELATED PARTY DISCLOSURES |
| Included in debtors falling due within one year is a balance of £3,145,356 (2017:£1,385,604) owed by FSG |
| Build Ltd, a company with common director. The loan is interest free. |
| 15. | ULTIMATE CONTROLLING PARTY |
| The company was under the control of its shareholders throughout the year under review. |