Flats in Southsea Ltd

Flats in Southsea Ltd

FLATS IN SOUTHSEA LTD - Company Information

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31 July 2021 false Taxfiler 2022.11.1 11477663business:PrivateLimitedCompanyLtd2021-07-312022-07-31 114776632021-07-30 114776632021-07-312022-07-31 11477663business:AuditExemptWithAccountantsReport2021-07-312022-07-31 11477663business:FullAccounts2021-07-312022-07-31 114776632022-07-31 11477663business:Director12021-07-312022-07-31 11477663business:RegisteredOffice2021-07-312022-07-31 114776632021-07-30 11477663core:WithinOneYear2022-07-31 11477663core:WithinOneYear2021-07-30 11477663core:ShareCapital2022-07-31 11477663core:ShareCapital2021-07-30 11477663core:RetainedEarningsAccumulatedLosses2022-07-31 11477663core:RetainedEarningsAccumulatedLosses2021-07-30 11477663business:SmallEntities2021-07-312022-07-31 11477663countries:EnglandWales2021-07-312022-07-31 11477663core:ComputerEquipment2021-07-312022-07-31 11477663core:ComputerEquipment2021-07-30 11477663core:ComputerEquipment2022-07-31 114776632020-07-312021-07-30 iso4217:GBP xbrli:pure
Company Registration No. 11477663 (England and Wales)
Flats in Southsea Ltd Unaudited accounts for the period from 31 July 2021 to 31 July 2022
Flats in Southsea Ltd Unaudited accounts Contents
Page
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Flats in Southsea Ltd Company Information for the period from 31 July 2021 to 31 July 2022
Director
Mr Alwin Oliver
Company Number
11477663 (England and Wales)
Registered Office
Lower Ground Unit Albermale House 15 Osbourne Road Southsea Hampshire PO5 3LB England
Accountants
SJS Advsiory Ltd Office 20, 5 Charter House Lord Montgomery Way Portsmouth Hampshire PO1 2SN
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Flats in Southsea Ltd Accountants' report
Accountants' report to the director of Flats in Southsea Ltd on the preparation of the unaudited statutory accounts for the period from 31 July 2021 to 31 July 2022
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Flats in Southsea Ltd for the period from 31 July 2021 to 31 July 2022 as set out on pages 5 - 7 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Flats in Southsea Ltd, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Flats in Southsea Ltd and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Flats in Southsea Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Flats in Southsea Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Flats in Southsea Ltd. You consider that Flats in Southsea Ltd is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the accounts of Flats in Southsea Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
SJS Advsiory Ltd Office 20, 5 Charter House Lord Montgomery Way Portsmouth Hampshire PO1 2SN 25 November 2022
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Flats in Southsea Ltd Statement of financial position as at 31 July 2022
2022 
2021 
Notes
£ 
£ 
Fixed assets
Tangible assets
4
1,519 
2,539 
Current assets
Debtors
5
6,346 
3,457 
Cash at bank and in hand
44,089 
42,498 
50,435 
45,955 
Creditors: amounts falling due within one year
6
(51,875)
(48,873)
Net current liabilities
(1,440)
(2,918)
Net assets/(liabilities)
79 
(379)
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
78 
(380)
Shareholders' funds
79 
(379)
For the period ending 31 July 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 25 November 2022 and were signed on its behalf by
Mr Alwin Oliver Director Company Registration No. 11477663
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Flats in Southsea Ltd Notes to the Accounts for the period from 31 July 2021 to 31 July 2022
1
Statutory information
Flats in Southsea Ltd is a private company, limited by shares, registered in England and Wales, registration number 11477663. The registered office is Lower Ground Unit Albermale House, 15 Osbourne Road, Southsea, Hampshire, PO5 3LB, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
25% on cost
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Flats in Southsea Ltd Notes to the Accounts for the period from 31 July 2021 to 31 July 2022
4
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 31 July 2021
4,081 
At 31 July 2022
4,081 
Depreciation
At 31 July 2021
1,542 
Charge for the period
1,020 
At 31 July 2022
2,562 
Net book value
At 31 July 2022
1,519 
At 30 July 2021
2,539 
5
Debtors
2022 
2021 
£ 
£ 
Amounts falling due within one year
Trade debtors
282 
2,060 
Deferred tax asset
- 
13 
Accrued income and prepayments
- 
1,384 
Other debtors
6,064 
- 
6,346 
3,457 
6
Creditors: amounts falling due within one year
2022 
2021 
£ 
£ 
VAT
1,781 
- 
Trade creditors
3,025 
3,078 
Taxes and social security
656 
854 
Other creditors
46,413 
300 
Loans from directors
- 
180 
Accruals
- 
44,461 
51,875 
48,873 
7
Average number of employees
During the period the average number of employees was 4 (2021: 4).
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