FIP Properties Limited - Accounts to registrar (filleted) - small 18.2
FIP Properties Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| FIP PROPERTIES LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE PERIOD 1 FEBRUARY 2018 TO 31 MARCH 2019 |
| FIP PROPERTIES LIMITED (REGISTERED NUMBER: 10546163) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE PERIOD 1 FEBRUARY 2018 TO 31 MARCH 2019 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| FIP PROPERTIES LIMITED |
| COMPANY INFORMATION |
| FOR THE PERIOD 1 FEBRUARY 2018 TO 31 MARCH 2019 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Station House |
| North Street |
| Havant |
| Hampshire |
| PO9 1QU |
| FIP PROPERTIES LIMITED (REGISTERED NUMBER: 10546163) |
| BALANCE SHEET |
| 31 MARCH 2019 |
| 2019 | 2018 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| Investment property | 6 |
| CURRENT ASSETS |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | ( |
) | ( |
) |
| ( |
) | ( |
) |
| The director acknowledges his 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. |
| FIP PROPERTIES LIMITED (REGISTERED NUMBER: 10546163) |
| BALANCE SHEET - continued |
| 31 MARCH 2019 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the director on |
| FIP PROPERTIES LIMITED (REGISTERED NUMBER: 10546163) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE PERIOD 1 FEBRUARY 2018 TO 31 MARCH 2019 |
| 1. | STATUTORY INFORMATION |
| FIP Properties 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 represents rents receivable during the period. Rental income is recognised on the basis of |
| amounts due in the period. |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured |
| at cost less any accumulated amortisation and any accumulated impairment losses. |
| Tangible fixed assets |
| Plant and machinery etc | - |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from |
| changes in fair value is recognised in profit or loss. |
| Financial instruments |
| The company only enters into basic financial instruments transactions that result in the recognition of |
| financial assets and liabilities like trade and other accounts receivable and payable, loans from banks |
| and other third parties and loans to related parties and investments in non-puttable ordinary shares. |
| Trade and other debtors |
| Short term debtors are measured at transaction price, less any impairment. Loans receivable are |
| measured initially at fair value, net of transaction costs, and are measured subsequently at amortised |
| cost using the effective interest method, less any impairment |
| Cash and cash equivalents |
| Cash and cash equivalents comprise cash at bank and on hand, deposits with banks and other |
| short-term highly liquid investments and bank overdrafts. In the balance sheet, bank overdrafts are |
| shown within borrowings or current liabilities. |
| Trade and other creditors |
| Short term trade creditors are measured at the transaction price. Other financial liabilities, including |
| bank loans, are measured initially at fair value, net of transaction costs, and are measured |
| subsequently at amortised cost using the effective interest method |
| FIP PROPERTIES LIMITED (REGISTERED NUMBER: 10546163) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 1 FEBRUARY 2018 TO 31 MARCH 2019 |
| 2. | ACCOUNTING POLICIES - continued |
| Taxation |
| Taxation for the period 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 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. |
| Going concern |
| The company has the continued financial support of its director, Mr Simon James Clarke, who has |
| agreed not to request repayment of his loan until the company has the funds available. On this basis |
| the director of FIP Properties Ltd considers it appropriate to prepare accounts on the going concern |
| basis. The financial statements do not include any adjustments that would result in the company |
| suffering further trading losses. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the period was |
| 4. | INTANGIBLE FIXED ASSETS |
| Other |
| intangible |
| assets |
| £ |
| COST |
| At 1 February 2018 |
| and 31 March 2019 |
| AMORTISATION |
| At 1 February 2018 |
| Charge for period |
| At 31 March 2019 |
| NET BOOK VALUE |
| At 31 March 2019 |
| At 31 January 2018 |
| FIP PROPERTIES LIMITED (REGISTERED NUMBER: 10546163) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 1 FEBRUARY 2018 TO 31 MARCH 2019 |
| 5. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 February 2018 |
| and 31 March 2019 |
| DEPRECIATION |
| At 1 February 2018 |
| Charge for period |
| At 31 March 2019 |
| NET BOOK VALUE |
| At 31 March 2019 |
| At 31 January 2018 |
| 6. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 February 2018 |
| Additions |
| At 31 March 2019 |
| NET BOOK VALUE |
| At 31 March 2019 |
| At 31 January 2018 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Trade creditors |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Bank loans |
| Amounts falling due in more than five years: |
| Repayable otherwise than by instalments |
| Bank loans more 5 yrs non-inst |