Property South West Limited - Limited company accounts 18.2
Property South West Limited - Limited company accounts 18.2
| REGISTERED NUMBER: |
| REPORT OF THE DIRECTORS AND |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MAY 2019 |
| FOR |
| PROPERTY SOUTH WEST LIMITED |
| PROPERTY SOUTH WEST LIMITED (REGISTERED NUMBER: 03931602) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MAY 2019 |
| Page |
| Company Information | 1 |
| Report of the Directors | 2 |
| Income Statement | 3 |
| Balance Sheet | 4 |
| Notes to the Financial Statements | 5 |
| PROPERTY SOUTH WEST LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 MAY 2019 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Primrose Cottage |
| The Green |
| Hargrave |
| Bury St Edmunds |
| Suffolk |
| IP29 5HX |
| PROPERTY SOUTH WEST LIMITED (REGISTERED NUMBER: 03931602) |
| REPORT OF THE DIRECTORS |
| FOR THE YEAR ENDED 31 MAY 2019 |
| The directors present their report with the financial statements of the company for the year ended 31 May 2019. |
| DIRECTORS |
| The directors shown below have held office during the whole of the period from 1 June 2018 to the date of this report. |
| This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small |
| companies. |
| ON BEHALF OF THE BOARD: |
| PROPERTY SOUTH WEST LIMITED (REGISTERED NUMBER: 03931602) |
| INCOME STATEMENT |
| FOR THE YEAR ENDED 31 MAY 2019 |
| 2019 | 2018 |
| Notes | £ | £ |
| TURNOVER |
| Cost of sales |
| GROSS PROFIT |
| Administrative expenses |
| OPERATING (LOSS)/PROFIT and |
| (LOSS)/PROFIT BEFORE TAXATION | ( |
) |
| Tax on (loss)/profit |
| (LOSS)/PROFIT FOR THE FINANCIAL YEAR |
( |
) |
| PROPERTY SOUTH WEST LIMITED (REGISTERED NUMBER: 03931602) |
| BALANCE SHEET |
| 31 MAY 2019 |
| 2019 | 2018 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | ( |
) | ( |
) |
| ( |
) | ( |
) |
| 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 were approved by the Board of Directors on |
| PROPERTY SOUTH WEST LIMITED (REGISTERED NUMBER: 03931602) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MAY 2019 |
| 1. | STATUTORY INFORMATION |
| Property South West 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
| value added tax and other sales taxes. |
| Tangible fixed assets |
| Taxation |
| Taxation for the year 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 year 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. |
| 3. | OPERATING (LOSS)/PROFIT |
| The operating loss (2018 - operating profit) is stated after charging: |
| 2019 | 2018 |
| £ | £ |
| Depreciation - owned assets |
| PROPERTY SOUTH WEST LIMITED (REGISTERED NUMBER: 03931602) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MAY 2019 |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 June 2018 |
| Disposals | ( |
) |
| At 31 May 2019 |
| DEPRECIATION |
| At 1 June 2018 |
| Eliminated on disposal | ( |
) |
| At 31 May 2019 |
| NET BOOK VALUE |
| At 31 May 2019 |
| At 31 May 2018 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Trade debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Payments on account |
| Trade creditors |
| Other creditors |