Insync Property Management Limited - Filleted accounts

INSYNC PROPERTY MANAGEMENT LTD - Company Information

Insync Property Management Limited
Registered number:		09939171
Balance Sheet
as at 31 March 2017

Notes			2017
£
Current assets
Debtors	2	13,959
Cash at bank and in hand		73,224
		87,183

Creditors: amounts falling due within one year	3	(86,919)

Net current assets			264

Net assets			264

Capital and reserves
Called up share capital			100
Profit and loss account			164

Shareholders' funds			264

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.



_______________________________
Adam Ludlam
Director
Approved by the board on 31 May 2017

Insync Property Management Limited
Notes to the Accounts
for the period from 6 January 2016 to 31 March 2017


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Plant and machinery	20% straight line
	Fixtures, fittings, tools and equipment	25% straight line

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.


2	Debtors		2017
£

	Trade debtors		13,959


3	Creditors: amounts falling due within one year		2017
£

	Sundry creditors		297
	Corporation tax		41
	Directors loan		78,160
	Accruals		3,221
	Salary control account		1,400
	Bad Debt provision		3,800
			86,919


4	Other information

	Insync Property Management Limited is a private company limited by shares and incorporated in England. Its registered office is:
	82 Harlech Road
	Abbotts Langley
	Herts
	WD5 0BF