Farringdon Investments 2019 Ltd - Accounts to registrar (filleted) - small 18.2

Farringdon Investments 2019 Ltd - Accounts to registrar (filleted) - small 18.2

FARRINGDON INVESTMENTS 2019 LTD - Company Information

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REGISTERED NUMBER: 07149938 (England and Wales)





UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2019

FOR

FARRINGDON INVESTMENTS 2019 LTD
FARRINGDON INVESTMENTS 2019 LTD (REGISTERED NUMBER: 07149938)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2019




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


FARRINGDON INVESTMENTS 2019 LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2019







DIRECTOR: Mr A C Panayi





REGISTERED OFFICE: 869 High Road
London
N12 8QA





REGISTERED NUMBER: 07149938 (England and Wales)





ACCOUNTANTS: AC Partners LLP
Chartered Accountants
869 High Road
London
N12 8QA
Page 1
FARRINGDON INVESTMENTS 2019 LTD (REGISTERED NUMBER: 07149938)

BALANCE SHEET
31 AUGUST 2019

2019 2018
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 22,500
Tangible assets 5 29,142 25,844
Investment property 6 762,670 762,670
791,812 811,014

CURRENT ASSETS
Stocks - 8,750
Cash at bank and in hand 41,095 80,905
41,095 89,655
CREDITORS
Amounts falling due within one year 7 284,533 378,057
NET CURRENT LIABILITIES (243,438 ) (288,402 )
TOTAL ASSETS LESS CURRENT LIABILITIES 548,374 522,612

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 548,274 522,512
SHAREHOLDERS' FUNDS 548,374 522,612

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 17 July 2020 and were signed by:





Mr A C Panayi - Director


The notes form part of these financial statements

Page 2
FARRINGDON INVESTMENTS 2019 LTD (REGISTERED NUMBER: 07149938)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2019

1. STATUTORY INFORMATION

Farringdon Investments 2019 Ltd 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.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added
tax and other sales taxes.

GOODWILL
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, 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.
Fixtures and fittings - 20% on reducing balance

INVESTMENT PROPERTY
Investment properties are carried at fair value. Revaluation surpluses are recognised in the income statement. Deferred
Taxation is provided on these gains at the rate expected to apply when the property is sold. No depreciation is provided in
respect of investment properties.

The Companies Act 2006 requires all properties to be depreciated. However, this requirement conflicts with the generally
accepted accounting principle set out in FRS 102 (Section 1A). The director considers that, because these properties are not
held for consumption but for their investment potential, to depreciate them would not give a true and fair view and that it is
necessary to adopt FRS 102 (Section 1A) in order to give a true and fair view. If this departure from the Act had not been
made, the loss for the financial year would have been increased by the amount of depreciation.

STOCKS
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2018 - 4 ) .

Page 3 continued...
FARRINGDON INVESTMENTS 2019 LTD (REGISTERED NUMBER: 07149938)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2019

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2018 75,000
Disposals (75,000 )
At 31 August 2019 -
AMORTISATION
At 1 September 2018 52,500
Eliminated on disposal (52,500 )
At 31 August 2019 -
NET BOOK VALUE
At 31 August 2019 -
At 31 August 2018 22,500

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 September 2018 54,434
Additions 10,583
At 31 August 2019 65,017
DEPRECIATION
At 1 September 2018 28,590
Charge for year 7,285
At 31 August 2019 35,875
NET BOOK VALUE
At 31 August 2019 29,142
At 31 August 2018 25,844

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2018
and 31 August 2019 762,670
NET BOOK VALUE
At 31 August 2019 762,670
At 31 August 2018 762,670

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£    £   
Trade creditors 1,183 14,122
Taxation and social security 5,269 19,654
Other creditors 278,081 344,281
284,533 378,057

8. ULTIMATE CONTROLLING PARTY

Ultimate control of the company is exercised by the director, Mr A C Panayi.

Page 4