Cray & Norton Estate Agents Ltd - Accounts to registrar (filleted) - small 18.2

Cray & Norton Estate Agents Ltd - Accounts to registrar (filleted) - small 18.2


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REGISTERED NUMBER: 05478005 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2018

FOR

CRAY & NORTON ESTATE AGENTS LTD

CRAY & NORTON ESTATE AGENTS LTD (REGISTERED NUMBER: 05478005)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2018




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3

Chartered Certified Accountants' Report 6

CRAY & NORTON ESTATE AGENTS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2018







DIRECTORS: D Cray
Mrs A Cray





SECRETARY: Mrs A Cray





REGISTERED OFFICE: 83 High Street
West Wickham
Kent
BR4 0LS





REGISTERED NUMBER: 05478005 (England and Wales)





ACCOUNTANTS: Sherwoods
Chartered Certified Accountants
83 High Street
West Wickham
Kent
BR4 0LS

CRAY & NORTON ESTATE AGENTS LTD (REGISTERED NUMBER: 05478005)

STATEMENT OF FINANCIAL POSITION
31 AUGUST 2018

2018 2017
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,546 4,882

CURRENT ASSETS
Debtors 5 197,177 168,314
Cash at bank 9,226 17,176
206,403 185,490
CREDITORS
Amounts falling due within one year 6 215,312 202,841
NET CURRENT LIABILITIES (8,909 ) (17,351 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(5,363

)

(12,469

)

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (5,463 ) (12,569 )
SHAREHOLDERS' FUNDS (5,363 ) (12,469 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 29 August 2019 and were signed on its behalf by:





Mrs A Cray - Director


CRAY & NORTON ESTATE AGENTS LTD (REGISTERED NUMBER: 05478005)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2018

1. STATUTORY INFORMATION

Cray & Norton Estate Agents Ltd 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.

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 net invoiced sales of services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on reducing balance

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.

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.

Hire purchase and leasing commitments
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 6 (2017 - 5 ) .

CRAY & NORTON ESTATE AGENTS LTD (REGISTERED NUMBER: 05478005)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2018

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 September 2017
and 31 August 2018 14,269 9,710 23,979
DEPRECIATION
At 1 September 2017 10,310 8,787 19,097
Charge for year 990 346 1,336
At 31 August 2018 11,300 9,133 20,433
NET BOOK VALUE
At 31 August 2018 2,969 577 3,546
At 31 August 2017 3,959 923 4,882

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Other debtors 2,500 2,500
Monies on deposit 1 1
Directors' current accounts 194,676 164,980
Prepayments - 833
197,177 168,314

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Bank loans and overdrafts - 2,912
Tax 9,652 6,301
Social security and other taxes 27,391 20,286
Other creditors 9,407 8,427
Landlords' fees 125,379 133,890
Deposit protection scheme 36,208 25,974
Accrued expenses 7,275 5,051
215,312 202,841

CRAY & NORTON ESTATE AGENTS LTD (REGISTERED NUMBER: 05478005)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2018

7. DIRECTORS' LOAN ACCOUNTS

The following advances to directors subsisted during the years ended 31 August 2018 and 31 August 2017:

2018 2017
£    £   
D Cray and Mrs A Cray
Balance outstanding at start of year 164,979 123,001
Amounts advanced 29,697 41,978
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 194,676 164,979

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
CRAY & NORTON ESTATE AGENTS LTD

The following reproduces the text of the report prepared for the directors in respect of the company's annual
unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file
a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary
statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the
financial statements of Cray & Norton Estate Agents Ltd for the year ended 31 August 2018 which comprise the Income
Statement, Statement of Financial Position and the related notes from the company's accounting records and from
information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Cray & Norton Estate Agents Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Cray & Norton Estate Agents Ltd and state those matters that we have agreed to state to the Board of Directors of Cray & Norton Estate Agents Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Cray & Norton Estate Agents Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Cray & Norton Estate Agents Ltd. You consider that Cray & Norton Estate Agents Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Cray & Norton Estate Agents Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Sherwoods
Chartered Certified Accountants
83 High Street
West Wickham
Kent
BR4 0LS


Date: .............................................