Lets Residential Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06458545 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31st March 2019

for

Lets Residential Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

M L Unsworth

SECRETARY:

Mrs W J Unsworth

REGISTERED OFFICE:

12 Allerton Road

Mossley Hill

Liverpool

Merseyside

L18 1LN

REGISTERED NUMBER:

06458545 (England and Wales)

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

8,307

8,058

8,307

8,058

CURRENT ASSETS

Debtors

3,067

1,162

Cash at bank and in hand

26,078

30,818

29,145

31,980

CREDITORS

Amounts falling due within one year

17,850

17,638

NET CURRENT ASSETS

11,295

14,342

TOTAL ASSETS LESS CURRENT LIABILITIES

19,602

22,400

CREDITORS

Amounts falling due after more than one year

231

508

NET ASSETS

19,371

21,892

CAPITAL AND RESERVES

Called up share capital

11

11

Retained earnings

19,360

21,881

SHAREHOLDERS' FUNDS

19,371

21,892

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2019 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31st March 2019 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Profit & Loss Account has not been delivered.

The financial statements were approved by the director on 11th December 2019 and were signed by:

M L Unsworth - Director

1.	STATUTORY INFORMATION

Lets Residential 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.

These accounts have been prepared on a going concern basis. Having reviewed the position going forward the

expectation is that the company will fall into profit in the near future. The director continues to fully support

cashflow.

Turnover

Turnover is measured at the fair value of the consideration received or receivable and represents amounts

receivable for goods supplied or services rendered, stated net of discounts and of Value Added Tax.

Income is recognised in the month of the letting.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of ten years.

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

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on reducing balance and 15% on reducing balance

Tangible fixed asset are stated at cost less accumulated depreciation and accumulated impairment loss.

Financial instruments

The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors and

directors loans.

Directors loans (being repayable on demand ), trade debtors and trade creditors are measured at the undiscounted

amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective

evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the

statement of income and Retained Earnings.

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 (2018 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1st April 2018

and 31st March 2019

22,500

AMORTISATION

At 1st April 2018

and 31st March 2019

22,500

NET BOOK VALUE

At 31st March 2019

-

At 31st March 2018

-

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1st April 2018

29,645

Additions

2,236

At 31st March 2019

31,881

DEPRECIATION

At 1st April 2018

21,587

Charge for year

1,987

At 31st March 2019

23,574

NET BOOK VALUE

At 31st March 2019

8,307

At 31st March 2018

8,058

6.	RELATED PARTY DISCLOSURES

The company owed Mr M Unsworth (the sole director) £231.41 as at 31st March 2019. This amount is included

within other creditors.