ESSJAY PROPERTIES (HAMPSTEAD) LIMITED Filleted accounts for Companies House (small and micro)
ESSJAY PROPERTIES (HAMPSTEAD) LIMITED Filleted accounts for Companies House (small and micro)
COMPANY REGISTRATION NUMBER:
00639498
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Statement of Financial Position |
2019 |
2018 |
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Note |
£ |
£ |
£ |
Fixed assets
Tangible assets |
5 |
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Current assets
Debtors |
6 |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
7 |
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Net current assets |
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Total assets less current liabilities |
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Provisions
Taxation including deferred tax |
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Net assets |
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Capital and reserves
Called up share capital |
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Fair value reserve |
8 |
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Profit and loss account |
8 |
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Shareholders funds |
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In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
Directors' responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
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Statement of Financial Position (continued) |
These financial statements were approved by the
board of directors
and authorised for issue on
18 May 2020
, and are signed on behalf of the board by:
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Director |
Company registration number:
00639498
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Notes to the Financial Statements |
Year ended 31 August 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 Hallswelle House, 1 Hallswelle Road, London, NW11 0DH, United Kingdom.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Revenue recognition
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Tangible assets
Investment property
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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
3
(2018:
2
).
5.
Tangible assets
Land and buildings |
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£ |
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Cost |
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At 1 September 2018 and 31 August 2019 |
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Depreciation |
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At 1 September 2018 and 31 August 2019 |
– |
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Carrying amount |
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At 31 August 2019 |
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At 31 August 2018 |
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The investment property was revalued by the directors as at 31 August 2019 having considered the open market value of the property. No independent valuation was undertaken.
6.
Debtors
2019 |
2018 |
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£ |
£ |
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Other debtors |
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7.
Creditors:
amounts falling due within one year
2019 |
2018 |
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£ |
£ |
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Corporation tax |
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Other creditors |
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8.
Reserves
Fair value reserve - This reserve records the value of asset revaluations and fair value movements on assets recognised in other comprehensive income which are not available for distribution. Profit and loss account - This reserve records retained earnings and accumulated losses which are available for distribution.