Naples Street Properties Ltd Filleted accounts for Companies House (small and micro)

NAPLES STREET PROPERTIES LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 10788197

Naples Street Properties Ltd

Filleted Unaudited Financial Statements

31 March 2019

Naples Street Properties Ltd

Statement of Financial Position

31 March 2019

	31 Mar 19	31 Jan 18
		(restated)
Note	£	£

Current assets

Stocks		3,867,927	3,172,885
Debtors	4	40,868	12,118
		------------	------------
		3,908,795	3,185,003

Creditors: amounts falling due within one year	5	3,994,102	3,187,903
		------------	------------
Net current liabilities		85,307	2,900
		--------	-------
Total assets less current liabilities		( 85,307)	( 2,900)
		--------	-------
Net liabilities		( 85,307)	( 2,900)
		--------	-------

Capital and reserves

Called up share capital	100	100
Profit and loss account	( 85,407)	( 3,000)
	--------	-------
Shareholders deficit	( 85,307)	( 2,900)
	--------	-------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the period ending 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Naples Street Properties Ltd

Statement of Financial Position (continued)

31 March 2019

These financial statements were approved by the board of directors and authorised for issue on 13 December 2019 , and are signed on behalf of the board by:

Mr S Ismail

Director

Company registration number: 10788197

Naples Street Properties Ltd

Notes to the Financial Statements

Period from 1 February 2018 to 31 March 2019

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 3, Birchwood One Business Park, Dewhurst Road, Warrington, WA3 7GB.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The financial statements have been prepared on the going concern basis as the directors and shareholders will continue to support the ongoing obligations of the business for a period of at least 12 months from the date of signing the balance sheet.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

4. Debtors

	31 Mar 19	31 Jan 18
		(restated)
	£	£
Trade debtors	–	12,018
Amounts owed by group undertakings and undertakings in which the company has a participating interest	–	100
Other debtors	40,868	–
	--------	--------
	40,868	12,118
	--------	--------

5. Creditors: amounts falling due within one year

	31 Mar 19	31 Jan 18
		(restated)
	£	£
Bank loans and overdrafts	2,889,461	3,148,238
Trade creditors	14,625	–
Amounts owed to group undertakings	222,150	30,282
Accruals and deferred income	246,872	3,000
Social security and other taxes	–	3,733
Other creditors	620,994	2,650
	------------	------------
	3,994,102	3,187,903
	------------	------------