ANDREW_COULSON_PROPERTY_S - Accounts

ANDREW COULSON PROPERTY SALES & LETTINGS LIMITED - Company Information

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Company Registration No. 02395769 (England and Wales)

ANDREW COULSON PROPERTY SALES & LETTINGS LIMITED

FORMERLY KNOWN AS NORTHUMBRIA AND CUMBRIA ESTATES LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2014

ANDREW COULSON PROPERTY SALES & LETTINGS LIMITED

FORMERLY KNOWN AS NORTHUMBRIA AND CUMBRIA ESTATES LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 5

ANDREW COULSON PROPERTY SALES & LETTINGS LIMITED

FORMERLY KNOWN AS NORTHUMBRIA AND CUMBRIA ESTATES LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2014

- 1 -

2014

2013

Notes

Fixed assets

Intangible assets

12,500

18,750

Tangible assets

26,047

25,545

Investments

500

39,047

44,795

Current assets

Debtors

51,181

15,047

Cash at bank and in hand

925

2,898

52,106

17,945

Creditors: amounts falling due within one year

(123,399)

(89,443)

Net current liabilities

(71,293)

(71,498)

Total assets less current liabilities

(32,246)

(26,703)

Creditors: amounts falling due after more than one year

(139,235)

(148,746)

Provisions for liabilities

(3,700)

(3,200)

(175,181)

(178,649)

Capital and reserves

Called up share capital

100

Profit and loss account

(175,281)

(178,749)

Shareholders' funds

(175,181)

(178,649)

ANDREW COULSON PROPERTY SALES & LETTINGS LIMITED

FORMERLY KNOWN AS NORTHUMBRIA AND CUMBRIA ESTATES LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 MARCH 2014

- 2 -

For the financial year ended 31 March 2014 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 abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 26 August 2014

Andrew Coulson

Director

Company Registration No. 02395769

ANDREW COULSON PROPERTY SALES & LETTINGS LIMITED

FORMERLY KNOWN AS NORTHUMBRIA AND CUMBRIA ESTATES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2014

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The directors, having regard to the nature, size and complexity of the business, have assessed the financial risks affecting the company and its operations for the 12 months from the approval of the financial statements and consider it appropriate to prepare the financial statements on a going concern basis.

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts duefrom sales net of vat and discounts.

1.4

Goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life which is considered to be 10 years.

1.5

Tangible fixed assets and depreciation

Tangible fixed assets include investment properties professionally valued by the directors on an existing use open market value basis. Other tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Fixtures, fittings & equipment

15% reducing balance

Motor vehicles

25% reducing balance

1.6

Leasing

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

1.7

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

1.8

Revenue recognition

Fee income represents revenue earned under a wide variety of contracts to provide professional services. Revenue is recognised as earned when, and to the extent that, the firm obtains the right to consideration in exchange for its performance under these contracts. It is measured at the fair value of the right to consideration, which represents amounts chargeable to clients, including expenses and disbursements but excluding value added tax.

Fee income that is contingent on events outside the control of the firm is recognised when the contingent event occurs.

1.9

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

ANDREW COULSON PROPERTY SALES & LETTINGS LIMITED

FORMERLY KNOWN AS NORTHUMBRIA AND CUMBRIA ESTATES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2014

Accounting policies

(Continued)

- 4 -

1.10

Government grants

Grants are credited to deferred revenue. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.

Fixed assets

Intangible assets

Tangible assets

Investments

Total

Cost

At 1 April 2013

197,500

63,081

500

261,081

Additions

5,558

At 31 March 2014

197,500

68,639

500

266,639

Depreciation

At 1 April 2013

178,750

37,536

216,286

Charge for the year

6,250

5,056

11,306

At 31 March 2014

185,000

42,592

227,592

Net book value

At 31 March 2014

12,500

26,047

500

39,047

At 31 March 2013

18,750

25,545

500

44,795

Creditors

The aggregate amount of creditors for which security has been given amounted to £20,377 (2013 - £20,682).

ANDREW COULSON PROPERTY SALES & LETTINGS LIMITED

FORMERLY KNOWN AS NORTHUMBRIA AND CUMBRIA ESTATES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2014

- 5 -

Creditors: amounts falling due after more than one year

2014

2013

Analysis of loans repayable in more than five years

Total amounts repayable by instalments which are due in more than five years

(103,410)

The aggregate amount of creditors for which security has been given amounted to £139,235 (2013 - £148,746).

Share capital

2014

2013

Allotted, called up and fully paid

100 Ordinary shares of £1 each

100

Related party relationships and transactions

Loans to/(from) directors

The following directors had interest free loans during the year. The movement on these loans are as follows:

Description

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

Andrew Coulson

28,999

4,000

24,999

28,999

4,000

24,999

The overdrawn directors loan was repaid in full on 11 August 2014.

Other transactions

During the year the company received £3,000 (2013 - £6,000) for rent and contribution to rates from Gifts @ Number 39, a sole trader business operated by the director, Andrew Coulson.