The City Loft Company Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03299067 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 September 2018

for

The City Loft Company Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

E Elias

M Collins

I A Heptonstall

SECRETARY:

E Elias

REGISTERED OFFICE:

5 Technology Park

Colindeep Lane

Colindale

London

NW9 6BX

REGISTERED NUMBER:

03299067 (England and Wales)

ACCOUNTANTS:

Grunberg & Co Limited

Chartered Accountants

5 Technology Park

Colindeep Lane

Colindale

London

NW9 6BX

FIXED ASSETS

Investments

4

43,800

43,800

CURRENT ASSETS

Debtors

5

30,880

28,880

Cash at bank

4,720

7,084

35,600

35,964

CREDITORS

Amounts falling due within one year

6

1,891

1,861

NET CURRENT ASSETS

33,709

34,103

TOTAL ASSETS LESS CURRENT LIABILITIES

77,509

77,903

CAPITAL AND RESERVES

Called up share capital

96

96

Fair value reserve

7

43,800

43,800

Retained earnings

7

33,613

34,007

SHAREHOLDERS' FUNDS

77,509

77,903

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors on 12 June 2019 and were signed on its behalf by:

I A Heptonstall - Director

E Elias - Director

1.	STATUTORY INFORMATION

The City Loft Company 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents ground rent receivable, excluding value added tax. Ground rents are recognised on a calendar basis.

Financial instruments

Debtors - Short term debtors are measured at transaction price, less any impairment.

Creditors - Short term creditors are measured at transaction price

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.

Fixed asset investments

Fixed asset investments are shown at the most recent valuation. Any aggregate surplus or deficit arising from fair value is

recognised in the profit and loss account.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2017 - 3 ).

4.	FIXED ASSET INVESTMENTS

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Other debtors

4,000

4,000

Amount owed by related company

23,830

23,830

Prepayments and accrued income

3,050

1,050

30,880

28,880

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Accrued expenses

1,891

1,861

7.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1 October 2017

34,007

43,800

77,807

Deficit for the year

(394

)

(394

)

At 30 September 2018

33,613

43,800

77,413

The fair value reserve is a non-distributable reserve.

8.	RELATED PARTY DISCLOSURES

The amount owed by related company of £23,830 (2017 - £23,830), relates to funds advanced to an entity in which the

directors have common control. These advances are interest free and repayable on demand.