FOCUS HOUSING AGENCY LIMITED - Limited company accounts 20.1

FOCUS HOUSING AGENCY LIMITED - Limited company accounts 20.1


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REGISTERED NUMBER: 07514990 (England and Wales)















Report of the Directors and

Unaudited Financial Statements for the Year Ended 31 March 2020

for

FOCUS HOUSING AGENCY LIMITED

FOCUS HOUSING AGENCY LIMITED (Registered number: 07514990)






Contents of the Financial Statements
for the Year Ended 31 March 2020




Page

Company Information 1

Report of the Directors 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 6


FOCUS HOUSING AGENCY LIMITED

Company Information
for the Year Ended 31 March 2020







DIRECTORS: Mr Z D Chaudhry
Mrs W C Smit





REGISTERED OFFICE: 319B Walton Road
West Molesey
Surrey
KT8 2QG





REGISTERED NUMBER: 07514990 (England and Wales)





ACCOUNTANTS: Accord Accountants
132 Winchester Rd
Chandler's Ford
Eastleigh
SO53 2DS

FOCUS HOUSING AGENCY LIMITED (Registered number: 07514990)

Report of the Directors
for the Year Ended 31 March 2020

The directors present their report with the financial statements of the company for the year ended 31 March 2020.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of property company.

DIRECTORS
Mr Z D Chaudhry has held office during the whole of the period from 1 April 2019 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:





Mr Z D Chaudhry - Director


26 March 2021

FOCUS HOUSING AGENCY LIMITED (Registered number: 07514990)

Income Statement
for the Year Ended 31 March 2020

31.3.20 31.3.19
£    £   

TURNOVER 150,000 93,863

Administrative expenses 27,850 27,743
OPERATING PROFIT 122,150 66,120


Interest payable and similar expenses 62,843 43,795
PROFIT BEFORE TAXATION 59,307 22,325

Tax on profit 72,476 4,784
(LOSS)/PROFIT FOR THE FINANCIAL
YEAR

(13,169

)

17,541

FOCUS HOUSING AGENCY LIMITED (Registered number: 07514990)

Balance Sheet
31 March 2020

31.3.20 31.3.19
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 4,036,617 2,379,995

CURRENT ASSETS
Cash in hand 132 132

CREDITORS
Amounts falling due within one year 5 15,054 39,143
NET CURRENT LIABILITIES (14,922 ) (39,011 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,021,695

2,340,984

CREDITORS
Amounts falling due after more than one
year

6

(3,143,971

)

(1,836,841

)

PROVISIONS FOR LIABILITIES (142,310 ) (80,560 )
NET ASSETS 735,414 423,583

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 7 749,000 424,000
Retained earnings 7 (13,686 ) (517 )
SHAREHOLDERS' FUNDS 735,414 423,583

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 in accordance with Section 476 of the Companies Act 2006.

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.

FOCUS HOUSING AGENCY LIMITED (Registered number: 07514990)

Balance Sheet - continued
31 March 2020


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 26 March 2021 and were signed on its behalf by:





Mr Z D Chaudhry - Director


FOCUS HOUSING AGENCY LIMITED (Registered number: 07514990)

Notes to the Financial Statements
for the Year Ended 31 March 2020

1. STATUTORY INFORMATION

FOCUS HOUSING AGENCY 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.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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).

FOCUS HOUSING AGENCY LIMITED (Registered number: 07514990)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2020

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2019 2,379,995
Additions 1,331,622
Revaluations 325,000
At 31 March 2020 4,036,617
NET BOOK VALUE
At 31 March 2020 4,036,617
At 31 March 2019 2,379,995

Fair value at 31 March 2020 is represented by:

£   
Valuation in 2018 2,379,995
Valuation in 2020 325,000
Cost 1,331,622
4,036,617

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.20 31.3.19
£    £   
Trade creditors - 28,008
Taxation and social security 15,054 11,135
15,054 39,143

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.20 31.3.19
£    £   
Bank loans 1,762,098 1,217,621
Amounts owed to participating interests 1,381,873 619,220
3,143,971 1,836,841

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,762,098 1,217,621

FOCUS HOUSING AGENCY LIMITED (Registered number: 07514990)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2020

7. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 April 2019 (517 ) 424,000 423,483
Deficit for the year (13,169 ) (13,169 )
Revaluation - 325,000 325,000
At 31 March 2020 (13,686 ) 749,000 735,314