385 Real Estate Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11110807 (England and Wales)

Unaudited Financial Statements

for the Period

13 December 2017 to 31 December 2018

for

385 Real Estate Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

G A J Horne

D A Searle

REGISTERED OFFICE:

FFT Reedham House

31 King Street West

Manchester

M3 2PJ

BUSINESS ADDRESS:

Progress Centre

Charlton Place

Manchester

M12 6HS

REGISTERED NUMBER:

11110807 (England and Wales)

ACCOUNTANTS:

Freedman Frankl & Taylor

Chartered Accountants

Reedham House

31 King Street West

Manchester

M3 2PJ

CURRENT ASSETS

Stocks

523,894

Debtors

4

63,361

Cash in hand

100

587,355

CREDITORS

Amounts falling due within one year

5

592,878

NET CURRENT LIABILITIES

(5,523

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(5,523

)

CAPITAL AND RESERVES

Called up share capital

7

100

Retained earnings

(5,623

)

SHAREHOLDERS' FUNDS

(5,523

)

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 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 applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 11 September 2019 and were signed on its behalf by:

D A Searle - Director

1.	STATUTORY INFORMATION

385 Real Estate 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.

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.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and

Retained Earnings, 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 period 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.

Turnover

Turnover represents net value of goods excluding value added tax.

Going concern

The company's financial statements for the period ended 31 December 2018 have been prepared on a going

concern basis as, after making appropriate enquiries, the directors have a reasonable expectation that the

company has adequate resources to continue in operational existence for the foreseeable future.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Other debtors

63,361

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Other creditors

592,878

6.	SECURED DEBTS

The following secured debts are included within creditors:

£

Other creditors

572,076

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

50

Ordinary A

£1

50

50

Ordinary B

£1

50

100

The following shares were issued during the period for cash at par :

50 Ordinary A shares of £1

50 Ordinary B shares of £1

8.	RELATED PARTY DISCLOSURES

Included within other debtors is a balance amounting to £63,361 due from a company in which the directors of

the company are also directors and shareholders. There are no fixed repayment terms and no interest is

chargeable by the company in respect of this balance.

Included within other creditors is a balance amounting to £19,602 due to a company in which the directors of the

company are also directors and shareholders. There are no fixed repayment terms and no interest is chargeable to

the company in respect of this balance.