FIRST PROPERTY COMPANY (UK) LIMITED - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03561569 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 May 2020

for

FIRST PROPERTY COMPANY (UK) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

I BELL

REGISTERED OFFICE:

TURNPIKE HOUSE

DUNLEY

STOURPORT-ON-SEVERN

WORCESTERSHIRE

DY13 0UF

REGISTERED NUMBER:

03561569 (England and Wales)

ACCOUNTANTS:

PHB ACCOUNTANCY SERVICES LTD

KELLAWAY HOUSE

KELLS ROAD

COLEFORD

GLOUCESTERSHIRE

GL16 7AB

FIXED ASSETS

Tangible assets

4

385,000

385,000

CURRENT ASSETS

Cash at bank

6,263

17,840

CREDITORS

Amounts falling due within one year

5

73,471

87,800

NET CURRENT LIABILITIES

(67,208

)

(69,960

)

TOTAL ASSETS LESS CURRENT LIABILITIES

317,792

315,040

CREDITORS

Amounts falling due after more than one year

6

(97,500

)

(97,500

)

PROVISIONS FOR LIABILITIES

(32,610

)

(32,610

)

NET ASSETS

187,682

184,930

CAPITAL AND RESERVES

Called up share capital

2

2

Revaluation reserve

7

171,629

171,629

Retained earnings

16,051

13,299

SHAREHOLDERS' FUNDS

187,682

184,930

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2020 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 23 December 2020 and were signed by:

I BELL - Director

1.	STATUTORY INFORMATION

FIRST PROPERTY COMPANY (UK) LIMITED 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 as modified by the revaluation of certain assets.

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

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2019 - NIL).

4.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST OR VALUATION

At 1 June 2019

and 31 May 2020

385,000

NET BOOK VALUE

At 31 May 2020

385,000

At 31 May 2019

385,000

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.20

31.5.19

£

£

Trade creditors

534

486

Taxation and social security

1,908

1,263

Other creditors

71,029

86,051

73,471

87,800

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.20

31.5.19

£

£

Bank loans

97,500

97,500

7.

RESERVES

Revaluati

reserve

£

At 1 June 2019

and 31 May 2020

171,629