07737281 Limited Filleted accounts for Companies House (small and micro)

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COMPANY REGISTRATION NUMBER: 07737281

07737281 Limited

Filleted Unaudited Financial Statements

31 December 2019

07737281 Limited

Financial Statements

Year ended 31 December 2019

Contents	Page

Balance sheet	1

Notes to the financial statements	2

07737281 Limited

Balance Sheet

31 December 2019

	2019	2018
Note	£	£

Fixed assets

Tangible assets	4	1,092,063	1,084,710

Current assets

Debtors	5	562	160,796

Creditors: amounts falling due within one year	6	1,095,004	1,246,992
		------------	------------
Net current liabilities		1,094,442	1,086,196
		------------	------------
Total assets less current liabilities		( 2,379)	( 1,486)
		-------	-------
Net liabilities		( 2,379)	( 1,486)
		-------	-------

Capital and reserves

Called up share capital	2	2
Profit and loss account	( 2,381)	( 1,488)
	-------	-------
Shareholder deficit	( 2,379)	( 1,486)
	-------	-------

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 Section 1A of 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 year ending 31 December 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 25 March 2020 , and are signed on behalf of the board by:

S J Dunne
Director

Company registration number: 07737281

07737281 Limited

Notes to the Financial Statements

Year ended 31 December 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 4 Brackley Close, Bournemouth International Airport, Christchurch, Dorset, BH23 6SE.

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

As at 31 December 2019 there were net current liabilities. The majority of the creditors relate to amounts due to key management personnel. Repayments of these amounts will not be sought until the company is in a position to make repayment. Accordingly the financial statements are prepared on a going concern basis.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Taxation

Current tax is recognised on taxable profit for the current and, where not previously recognised, past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

4. Tangible assets

	Freehold property
	£
Cost
At 1 January 2019	1,084,710
Additions	7,353
	------------
At 31 December 2019	1,092,063
	------------
Depreciation
At 1 January 2019 and 31 December 2019	–
	------------
Carrying amount
At 31 December 2019	1,092,063
	------------
At 31 December 2018	1,084,710
	------------

5. Debtors

	2019	2018
	£	£
Other debtors	562	160,796
	----	---------

6. Creditors: amounts falling due within one year

	2019	2018
	£	£
Other creditors	1,095,004	1,246,992
	------------	------------