London Homestead Property Management Ltd - Abbreviated accounts 16.1

REGISTERED NUMBER: 03337423 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 March 2016

for

London Homestead Property Management Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

R Shai

REGISTERED OFFICE:

2nd Floor

Hygeia House

66 College Road

Harrow

Middlesex

HA1 1BE

REGISTERED NUMBER:

03337423 (England and Wales)

ACCOUNTANTS:

Lawrence Grant

Chartered Accountants

& Reporting Accountants

2nd Floor

Hygeia House

66 College Road

Harrow

Middlesex

HA1 1BE

FIXED ASSETS

Tangible assets

2

8,406

9,890

CURRENT ASSETS

Debtors

20,179

5,396

Cash at bank and in hand

768,982

389,180

789,161

394,576

CREDITORS

Amounts falling due within one year

1,266,764

867,111

NET CURRENT LIABILITIES

(477,603

)

(472,535

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(469,197

)

(462,645

)

CAPITAL AND RESERVES

Called up share capital

3

2

Profit and loss account

(469,199

)

(462,647

)

SHAREHOLDERS' FUNDS

(469,197

)

(462,645

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 18 July 2016 and were signed by:

R Shai - Director

1.	ACCOUNTING POLICIES

Going concern

The financial statements have been prepared on a going concern basis which is dependent upon the company's

creditors continuing to provide the necessary facilities to enable the company to continue in operation for the

foreseeable future.

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets

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

Plant and machinery

-

15% reducing balance

Fixtures and fittings

-

15% reducing balance

Computer equipment

-

33% on cost

Hire purchase

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives or the lease term, whichever is

shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement,

as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that

evidences a residual interest in the assets of the company after deducting all of its liabilities.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

and 31 March 2016

32,736

DEPRECIATION

At 1 April 2015

22,846

Charge for year

1,484

At 31 March 2016

24,330

NET BOOK VALUE

At 31 March 2016

8,406

At 31 March 2015

9,890

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

200

Ordinary

£1

2

4.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date, the director Mr R Shai had a credit balance of £22,358 (2015: Nil) on his Director's

loan account. The amount is shown under other creditors "amounts falling due within one year".