Company Registration No. 10511622 (England and Wales)
Sapphire Homes Limited
Unaudited accounts
for the year ended 31 December 2018
Sapphire Homes Limited
Unaudited accounts
Contents
Sapphire Homes Limited
Company Information
for the year ended 31 December 2018
Company Number
10511622 (England and Wales)
Registered Office
2 Marina Drive
Spondon
Derby
DE21 7AF
England
Accountants
Walker Accountancy Ltd
2 Marina Drive
Spondon
Derby
DE21 7AF
Sapphire Homes Limited
Statement of financial position
as at 31 December 2018
Investment property
254,000
-
Cash at bank and in hand
49,298
13,618
Creditors: amounts falling due within one year
(170,423)
(242,006)
Net current liabilities
(119,125)
(19,737)
Total assets less current liabilities
135,306
(19,049)
Creditors: amounts falling due after more than one year
(130,911)
-
Provisions for liabilities
Net assets/(liabilities)
3,655
(19,049)
Called up share capital
100
100
Profit and loss account
3,555
(19,149)
Shareholders' funds
3,655
(19,049)
For the year ending 31 December 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 25 September 2019.
G Mehmi
Director
Company Registration No. 10511622
Sapphire Homes Limited
Notes to the Accounts
for the year ended 31 December 2018
Sapphire Homes Limited is a private company, limited by shares, registered in England and Wales, registration number 10511622. The registered office is 2 Marina Drive, Spondon, Derby, DE21 7AF, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
33% Straight Line
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Turnover represents rents receivable on investment properties, and appropriation from stock to investment properties.
Sapphire Homes Limited
Notes to the Accounts
for the year ended 31 December 2018
4
Tangible fixed assets
Computer equipment
Net gain from fair value adjustments
9,000
At 31 December 2018
254,000
Investment property was revalued by the director based on information from valuations carried out for mortgage purposes.
8
Creditors: amounts falling due within one year
2018
2017
Bank loans and overdrafts
-
88,568
Other creditors
166,001
153,001
Loans from directors
404
437
Sapphire Homes Limited
Notes to the Accounts
for the year ended 31 December 2018
9
Creditors: amounts falling due after more than one year
2018
2017
Aggregate of amounts that fall due for payment after five years
130,911
-
The bank loan is secured by a fixed charge over the investment property.
10
Deferred taxation
2018
2017
Revaluation of land and buildings
1,530
-
Tax losses carried forward
(790)
-
Charged to the profit and loss account
740
-
Provision at end of year
740
-
11
Average number of employees
During the year the average number of employees was 0 (2017: 0).
