Harlow Property Management Limited - Accounts to registrar - small 17.1.1

REGISTERED NUMBER: 07027593 (England and Wales)

Harlow Property Management Limited

Financial Statements

for the Year Ended 31 December 2016

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Ms J R Fletcher OBE

Mr J R Craven

Mr N Smillie

REGISTERED OFFICE:

33 George Street

Wakefield

West Yorkshire

WF1 1LX

REGISTERED NUMBER:

07027593 (England and Wales)

ACCOUNTANTS:

Jolliffe Cork LLP

Chartered Accountants

33 George Street

Wakefield

West Yorkshire

WF1 1LX

BANKERS:

Yorkshire Bank

21 James Street

Harrogate

North Yorkshire

HG1 1QU

FIXED ASSETS

Tangible assets

2

1,352

-

CURRENT ASSETS

Debtors

3

162,918

7,686

Cash at bank

46,814

140,890

209,732

148,576

CREDITORS

Amounts falling due within one year

4

83,074

131,726

NET CURRENT ASSETS

126,658

16,850

TOTAL ASSETS LESS CURRENT LIABILITIES

128,010

16,850

CAPITAL AND RESERVES

Called up share capital

5

2

2

Retained earnings

6

128,008

16,848

SHAREHOLDERS' FUNDS

128,010

16,850

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 30 June 2017 and were signed on its behalf by:

Ms J R Fletcher OBE - Director

Mr J R Craven - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

This is the first year that the company has presented its results under FRS 102. The last financial statements

under previous UK GAAP were for the year ended 31 December 2015. The date of transition to FRS 102 was 1

January 2015. There has been no effect on the restated figures from the changes in accounting policies.

Turnover

Turnover relates to income generated in respect of both property management and agency fees and 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.

Computer equipment

-

33% on cost

Fixed assets are initially recorded at cost.

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 that have been enacted or

substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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.

2.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

Additions

1,875

At 31 December 2016

1,875

DEPRECIATION

Charge for year

523

At 31 December 2016

523

NET BOOK VALUE

At 31 December 2016

1,352

3.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade debtors

157,770

6,975

Other debtors

3,109

-

Directors' current accounts

1,328

-

Prepayments and accrued income

711

711

162,918

7,686

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade creditors

1,630

-

Amounts owed to related undertakings

-

31,646

Tax

27,654

14,741

VAT

26,764

1,250

Directors' current accounts

-

70,000

Accruals and deferred income

27,026

14,089

83,074

131,726

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

2

Ordinary

£1

2

2

6.

RESERVES

Retained

earnings

£

At 1 January 2016

16,848

Profit for the year

111,160

At 31 December 2016

128,008

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2016 and

31 December 2015:

2016

2015

£

£

Mr J R Craven

Balance outstanding at start of year

-

-

Amounts advanced

1,328

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

1,328

-

The balance was repaid in full on 18 May 2017.

8.	RELATED PARTY DISCLOSURES